Glenn Hubbard receives MUA shares in fund merger

BLACKROCK MUNIASSETS FUND, INC. director Glenn Hubbard reported an other-type transaction involving common stock.

Rhea-AI Filing Summary

BLACKROCK MUNIASSETS FUND, INC. director Glenn Hubbard reported an other-type transaction involving common stock. The event reflects a fund reorganization rather than an open-market buy or sale.

Effective February 23, 2026, BlackRock Long-Term Municipal Advantage Trust was reorganized into BlackRock MuniAssets Fund, Inc. In this reorganization, common shareholders of the former fund received MuniAssets common shares equal in value to the net asset value of the shares they surrendered, less reorganization costs, based on values as of February 20, 2026.

As of February 20, 2026, the former fund reported a net asset value per share of $10.0395 and the acquiring fund reported $11.3610 per share, with a conversion ratio of 0.88368101. Hubbard received 260.6859 common shares of the acquiring fund (plus cash for any fractional shares) in exchange for 295.00 common shares of the former fund, resulting in 260.6859 MuniAssets shares owned directly after the transaction.

Insider Trade Summary

Other: 260.6859 shares

Other 1 txn

Insider HUBBARD ROBERT GLENN

Role Director

Type	Security	Shares	Price	Value
Other	Common Stock	260.6859	$11.361	$3K

Holdings After Transaction: Common Stock — 260.6859 shares (Direct)

Footnotes (1)

1. F1. 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, Glenn Hubbard received 260.6859 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 295.00 common shares of the Target Fund.

FAQ

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What did Glenn Hubbard report in the latest Form 4 for MUA?

Glenn Hubbard reported an other-type transaction in MUA common stock. It reflects shares received through a fund reorganization, not an open-market purchase or sale, and left him directly holding 260.6859 MuniAssets Fund shares afterward.

How many MUA shares did Glenn Hubbard receive in the reorganization?

Glenn Hubbard received 260.6859 MuniAssets Fund common shares. These were issued in exchange for his 295.00 common shares of BlackRock Long-Term Municipal Advantage Trust, along with cash for any fractional shares resulting from the conversion.

What funds were involved in the Glenn Hubbard MUA Form 4 transaction?

The transaction involved BlackRock Long-Term Municipal Advantage Trust and BlackRock MuniAssets Fund, Inc. The former fund was reorganized into the latter, and its common shareholders received MuniAssets shares based on relative net asset values at a specified valuation date.

What net asset values were used in the MUA fund reorganization for Hubbard?

The reorganization used a NAV of $10.0395 per share for BlackRock Long-Term Municipal Advantage Trust and $11.3610 per share for BlackRock MuniAssets Fund. These values, as of February 20, 2026, determined the conversion ratio for exchanged shares.

What was the share conversion ratio in the MUA-related fund merger?

The conversion ratio for the Target Fund’s common shares was 0.88368101. This ratio, derived from the two funds’ net asset values, determined how many BlackRock MuniAssets Fund shares each shareholder, including Glenn Hubbard, received for their prior holdings.

Did Glenn Hubbard buy or sell MUA shares in this Form 4 filing?

Hubbard neither bought nor sold MUA shares on the open market. Instead, he received 260.6859 MuniAssets shares in exchange for 295.00 shares of a reorganized BlackRock municipal fund, classified as an “other acquisition or disposition” transaction.

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Accepted by SEC EDGAR 02/25/2026 - 08:36 PM Learn about SEC filing dates

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^*

HUBBARD ROBERT GLENN

(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)		260.6859	A	$11.361	260.6859	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, Glenn Hubbard received 260.6859 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 295.00 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.
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