BlackRock MuniVest (NYSE: MVF) director exchanges shares in fund merger

Rhea-AI Filing Summary

BLACKROCK MUNIVEST FUND, INC. director Michael Kalinoski reported an automatic share exchange tied to a fund reorganization. On February 23, 2026, BlackRock MuniVest Fund, Inc. was reorganized into BlackRock MuniYield Quality Fund III, Inc.

Kalinoski surrendered 2.2247 common shares of the Target Fund, valued at its reported net asset value (NAV) of $7.5919 per share as of February 20, 2026. In return, he received 1 common share of the Acquiring Fund, which had a reported NAV of $12.0089 per share, plus cash for any fractional share, leaving him with no remaining MuniVest Fund shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider KALINOSKI MICHAEL

Role Director

Type	Security	Shares	Price	Value
Other	Common Stock	2.2247	$7.5919	$16.89

Holdings After Transaction: Common Stock — 0 shares (Direct)

Footnotes (1)

1. F1. Effective as of February 23, 2026, BlackRock MuniVest Fund, Inc. (the "Target Fund") was reorganized into BlackRock MuniYield Quality Fund III, 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 $7.5919 and the Acquiring Fund reported a NAV per share of $12.0089. The conversion ratio for the Target Fund's common shares was 0.63218946. In the reorganization, Michael Kalinoski received 1 common share (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 2.2247 common shares of the Target Fund.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 02/25/2026 - 07:46 PM Learn about SEC filing dates

FAQ

What insider transaction did MVF director Michael Kalinoski report?

Michael Kalinoski reported an automatic exchange of his BlackRock MuniVest Fund, Inc. shares in connection with a reorganization into BlackRock MuniYield Quality Fund III, Inc., rather than a typical open-market purchase or sale. The transaction reflects a structural fund change, not discretionary trading activity.

How many MVF shares did Michael Kalinoski exchange in the reorganization?

Kalinoski exchanged 2.2247 common shares of BlackRock MuniVest Fund, Inc. in the reorganization. Those shares were converted into one common share of BlackRock MuniYield Quality Fund III, Inc., with any remaining fraction settled in cash, eliminating his direct ownership stake in the Target Fund.

What was the NAV used for MVF in Michael Kalinoski’s share exchange?

The exchange used BlackRock MuniVest Fund, Inc.’s reported net asset value of $7.5919 per share as of February 20, 2026. This NAV determined the aggregate value of Kalinoski’s 2.2247 Target Fund shares that were surrendered in the reorganization with BlackRock MuniYield Quality Fund III, Inc.

What did Michael Kalinoski receive for his MVF shares after the reorganization?

Kalinoski received one common share of BlackRock MuniYield Quality Fund III, Inc. plus cash for any fractional share resulting from the conversion ratio. This exchange was based on relative net asset values, moving his ownership from the Target Fund to the Acquiring Fund structure.

What conversion ratio was applied to MVF shares in Kalinoski’s transaction?

The conversion ratio for BlackRock MuniVest Fund, Inc. common shares was 0.63218946. This ratio converted Kalinoski’s 2.2247 Target Fund shares into one common share of BlackRock MuniYield Quality Fund III, Inc., with any remaining fraction of a share paid out in cash.

Did Michael Kalinoski retain any MVF shares after the reorganization?

He did not retain any BlackRock MuniVest Fund, Inc. shares after the reorganization. Following the exchange of his 2.2247 Target Fund shares into one share of BlackRock MuniYield Quality Fund III, Inc., his reported balance of MVF common stock fell to zero.

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^*

KALINOSKI MICHAEL

(Last) (First) (Middle)

50 HUDSON YARDS

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BLACKROCK MUNIVEST FUND, INC. [ MVF ]

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)		2.2247	D	$7.5919	0	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 MuniVest Fund, Inc. (the "Target Fund") was reorganized into BlackRock MuniYield Quality Fund III, 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 $7.5919 and the Acquiring Fund reported a NAV per share of $12.0089. The conversion ratio for the Target Fund's common shares was 0.63218946. In the reorganization, Michael Kalinoski received 1 common share (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 2.2247 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.