Fund reorganization shifts holdings for BlackRock MUA (NYSE: MUA) director

Rhea-AI Filing Summary

BLACKROCK MUNIASSETS FUND, INC. director Christian Romaglino reported an “other transaction” involving common stock. On February 23, 2026, his holdings changed through a reorganization where BlackRock Long-Term Municipal Advantage Trust was combined into BlackRock MuniAssets Fund, Inc.

In the reorganization, he received 1,060 common shares of the Acquiring Fund in exchange for 1,200 common shares of the Target Fund, based on net asset values and a stated conversion ratio. After the transaction, his direct ownership in the Acquiring Fund was 1,068.1002 common shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Romaglino Christian

Role Director

Type	Security	Shares	Price	Value
Other	Common Stock	1,060	$11.361	$12K

Holdings After Transaction: Common Stock — 1,068.1 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Romaglino Christian

(Last) (First) (Middle)

50 HUDSON YARDS

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BLACKROCK MUNIASSETS FUND, INC. [ MUA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/23/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/23/2026		J(1)		1,060	A	$11.361	1,068.1002	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Effective as of February 23, 2026 BlackRock Long-Term Municipal Advantage Trust (the "Target Fund") was reorganized into BlackRock MuniAssets Fund, Inc. (the "Acquiring Fund"). In the reorganization, common shareholders of the Target Fund received common shares of the Acquiring Fund having a value equal to the aggregate NAV of the Target Fund common shares surrendered as determined at the close of business on February 20, 2026, less the costs of the reorganization. As of February 20, 2026, the Target Fund reported a NAV per share of $10.0395 and the Acquiring Fund reported a NAV per share of $11.3610. The conversion ratio for the Target Fund's common shares was 0.88368101. In the reorganization, Christian Romaglino received 1060 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 1200 common shares of the Target Fund.

	/s/ Gladys Chang as Attorney-in-Fact	02/25/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did MUA director Christian Romaglino report?

Christian Romaglino reported an “other transaction” in common stock tied to a fund reorganization. His holdings shifted when BlackRock Long-Term Municipal Advantage Trust was reorganized into BlackRock MuniAssets Fund, Inc., resulting in new common shares of the acquiring fund.

How many MUA shares did Christian Romaglino hold after the reported transaction?

After the transaction, Christian Romaglino directly owned 1,068.1002 common shares of BlackRock MuniAssets Fund, Inc. This total reflects the shares he received in the reorganization plus any fractional-share cash adjustment described in the footnote to the Form 4 filing.

What was exchanged in the BlackRock MUA reorganization affecting Christian Romaglino?

In the reorganization, Romaglino exchanged 1,200 common shares of BlackRock Long-Term Municipal Advantage Trust for 1,060 common shares of BlackRock MuniAssets Fund, Inc. The exchange followed a stated conversion ratio and net asset values for each fund as of February 20, 2026.

What NAV figures were used in the MUA-related fund reorganization?

The reorganization used a NAV of $10.0395 per share for the Target Fund and $11.3610 per share for the Acquiring Fund, both as of February 20, 2026. These net asset values determined the value-for-value exchange of common shares in the transaction.

What conversion ratio applied to the BlackRock Target Fund common shares?

The Target Fund’s common shares converted at a ratio of 0.88368101 into shares of BlackRock MuniAssets Fund, Inc. This ratio was applied so that common shareholders received Acquiring Fund shares equal in value to their surrendered Target Fund shares, less reorganization costs.

Was the MUA Form 4 transaction a standard buy or sell of shares?

No, the Form 4 identifies the transaction with code “J” as an “other acquisition or disposition.” It reflects a share exchange caused by a fund reorganization, rather than a typical open-market purchase or sale by Christian Romaglino.