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  4. [Form 4] BLACKROCK MUNIVEST FUND, INC. Insider Trading Activity

TD entities exchange 1,536 MVF preferred shares in MYI reorganization (NYSE: MVF)

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

BLACKROCK MUNIVEST FUND, INC. reported an insider filing covering a structural change in a preferred share position held through Toronto Dominion entities. Toronto Dominion Investments, Inc. reported an "other" transaction involving 1,536 Variable Rate Muni Term Preferred Shares on February 23, 2026.

According to the disclosure, these 1,536 shares were beneficially owned by Toronto Dominion Investments LLC and were exchanged on a cashless basis in connection with the reorganization of BlackRock MuniVest Fund, Inc. into BlackRock MuniYield Quality Fund III, Inc. (MYI). The shares were exchanged for an equal number of Variable Rate Demand Preferred Shares of MYI. The filing is made jointly by The Toronto-Dominion Bank and related holding companies, which held an indirect interest through their ownership chain in Toronto Dominion Investments LLC.

Positive

  • None.

Negative

  • None.
Insider Toronto Dominion Investments, Inc., TORONTO DOMINION HOLDINGS USA INC, TD GROUP US HOLDINGS LLC, TORONTO DOMINION BANK
Role 10% Owner | 10% Owner | 10% Owner | 10% Owner
Type Security Shares Price Value
Other Variable Rate Muni Term Preferred Shares 1,536 $0.00 --
Holdings After Transaction: Variable Rate Muni Term Preferred Shares — 0 shares (Direct)
Footnotes (1)
  1. The 1,536 Variable Rate Muni Term Preferred Shares ("Shares") reported as disposed of in Table I represent shares that were beneficially owned by Toronto Dominion InvestmentsLLC ("TDI"). In connection with the reorganization of the Issuer into BlackRock MuniYield Quality Fund III, Inc. ("MYI"), the Shares were exchanged for an equal number of Variable Rate Demand Preferred Shares of MYI in a cashless transaction. TDI is a wholly owned indirect subsidiary of The Toronto-Dominion Bank ("TD Bank"). This statement is jointly filed by TD Bank, TDI, Toronto Dominion Holdings (U.S.A.), Inc. ("TDH"), and TD Group US Holdings LLC ("TD GUS"). The Shares were owned directly by TDI. Toronto Dominion Holdings (U.S.A.), Inc. ("TDH") is the sole owner of TDI and TD Group US Holdings LLC ("TD GUS") is the sole owner of TDH. TD Bank is the sole owner of TD GUS. TD Bank, TDH, and TD GUS held an indirect interest in the Shares by virtue of their ownership of TDI. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.
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
X
 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*
Toronto Dominion Investments, Inc.
(Last) (First) (Middle)
909 FANIN
SUITE 1950
(Street)
HOUSTON TX 77010
(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)
Director X 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)
Form filed by One Reporting Person
X 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
Variable Rate Muni Term Preferred Shares 02/23/2026 J(1) 1,536 D(1) (1) 0 D(2)(3)
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
1. Name and Address of Reporting Person*
Toronto Dominion Investments, Inc.
(Last) (First) (Middle)
909 FANIN
SUITE 1950
(Street)
HOUSTON TX 77010
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
TORONTO DOMINION HOLDINGS USA INC
(Last) (First) (Middle)
40 WALL STREET
(Street)
NEW YORK NY 10003
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
TD GROUP US HOLDINGS LLC
(Last) (First) (Middle)
251 LITTLE FALLS DRIVE
(Street)
WILMINGTON DE 19808
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
TORONTO DOMINION BANK
(Last) (First) (Middle)
66 WELLINGTON STREET WEST
12TH FLOOR, TD TOWER
(Street)
TORONTO, ONTARIO A6 M5K 1A2
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. The 1,536 Variable Rate Muni Term Preferred Shares ("Shares") reported as disposed of in Table I represent shares that were beneficially owned by Toronto Dominion InvestmentsLLC ("TDI"). In connection with the reorganization of the Issuer into BlackRock MuniYield Quality Fund III, Inc. ("MYI"), the Shares were exchanged for an equal number of Variable Rate Demand Preferred Shares of MYI in a cashless transaction. TDI is a wholly owned indirect subsidiary of The Toronto-Dominion Bank ("TD Bank").
2. This statement is jointly filed by TD Bank, TDI, Toronto Dominion Holdings (U.S.A.), Inc. ("TDH"), and TD Group US Holdings LLC ("TD GUS"). The Shares were owned directly by TDI. Toronto Dominion Holdings (U.S.A.), Inc. ("TDH") is the sole owner of TDI and TD Group US Holdings LLC ("TD GUS") is the sole owner of TDH. TD Bank is the sole owner of TD GUS. TD Bank, TDH, and TD GUS held an indirect interest in the Shares by virtue of their ownership of TDI.
3. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.
Remarks:
Remarks: Exhibits Index Exhibit 99.1 - Joint Filing Agreement Exhibit 99.2 - Joint Filer Information
/s/ Christina Petrou on behalf of TORONTO DOMINION INVESTMENTS LLC 02/27/2026
/s/ Christina Petrou on behalf of TORONTO DOMINION HOLDINGS (U.S.A.), INC 02/27/2026
/s/ Andre Ramos on behalf of TD GROUP US HOLDINGS LLC 02/27/2026
/s/ Christina Petrou on behalf of THE TORONTO-DOMINION BANK 02/27/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did MVF disclose involving Toronto Dominion entities?

MVF disclosed an insider transaction where 1,536 Variable Rate Muni Term Preferred Shares beneficially owned by Toronto Dominion Investments LLC were exchanged in a cashless transaction. The shares were swapped for an equal number of Variable Rate Demand Preferred Shares of BlackRock MuniYield Quality Fund III, Inc. (MYI).

Which entities are listed as reporting persons in the MVF Form 4 filing?

The reporting persons are Toronto Dominion Investments, Inc., Toronto Dominion Holdings USA Inc, TD Group US Holdings LLC, and The Toronto-Dominion Bank. The filing explains that Toronto Dominion Investments LLC owned the shares directly, while the other entities held indirect interests through a wholly owned ownership chain.

How many MVF preferred shares were involved in the reported transaction?

The transaction involved 1,536 Variable Rate Muni Term Preferred Shares of BLACKROCK MUNIVEST FUND, INC. These shares were reported as disposed of and simultaneously exchanged for 1,536 Variable Rate Demand Preferred Shares of BlackRock MuniYield Quality Fund III, Inc. as part of a cashless reorganization transaction.

What was the nature of the MVF insider transaction reported on February 23, 2026?

The transaction was coded as an "other acquisition or disposition" and reflected a cashless exchange. In connection with MVF’s reorganization into BlackRock MuniYield Quality Fund III, Inc., 1,536 preferred shares were exchanged for the same number of MYI Variable Rate Demand Preferred Shares, without a stated per-share price.

Do the reporting persons admit forming a group regarding MVF securities?

No. Each reporting person explicitly declares that nothing in the statement should be construed as an admission of acting as a partnership, syndicate, or other group, or as being a member of any group, with respect to BLACKROCK MUNIVEST FUND, INC. or its securities under Section 13(d).