Which prior phantom share grants are referenced in Walter O'Connor’s MYD Form 4?

The filing references phantom share grants made on January 31 of 2023, 2024, and 2025. Each grant was previously reported on Form 4 and vests in three equal annual installments, with vested phantom shares ultimately payable in cash rather than MYD common stock.

MYD (NYSE: MYD) portfolio manager reports 538-share sale, 100 shares remaining

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

BlackRock MuniYield Fund, Inc. portfolio manager Walter O'Connor reported several compensation-related transactions involving common stock and phantom shares. On January 30, 2026, 538.3007 phantom share–linked units were converted into the same number of common shares, increasing his direct common stock holdings to 638.3007 shares.

That same day, he disposed of 538.3007 common shares at $10.69 per share, leaving a balance of 100 directly held common shares. Multiple blocks of phantom shares tied to prior grants from 2023, 2024, and 2025 were also settled or adjusted, with phantom shares described as cash-settled units economically equivalent to one share of common stock and vesting in three equal annual installments.

Insider Trade Summary

538.301 shares exercised/converted

Mixed 5 txns

Insider OCONNOR WALTER

Role Insider

Type	Security	Shares	Price	Value
Exercise	Phantom Shares	203.611	$0.00	--
Exercise	Phantom Shares	171.394	$0.00	--
Exercise	Phantom Shares	163.295	$0.00	--
Exercise	Common Stock	538.301	$0.00	--
Disposition	Common Stock	538.301	$10.69	$6K

Holdings After Transaction: Phantom Shares — 407.222 shares (Direct); Common Stock — 638.301 shares (Direct)

Footnotes (1)

A phantom share is the economic equivalent of one share of common stock and, subject to the applicable vesting requirements, becomes payable in cash. As previously reported on a Form 4 dated February 4, 2025, the Reporting Person was granted phantom shares on January 31, 2025 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date. As previously reported on a Form 4 dated February 2, 2024, the Reporting Person was granted phantom shares on January 31, 2024 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date. As previously reported on a Form 4 dated February 2, 2023, the Reporting Person was granted phantom shares on January 31, 2023 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.

Form 4 Insider Transactions: What Each Field Means →

02/03/2026 - 07:57 PM

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^*

OCONNOR WALTER

(Last)

(First)

(Middle)

50 HUDSON YARDS

(Street)

NEW YORK

10001

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
BLACKROCK MUNIYIELD FUND, INC. [ MYD ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	01/30/2026		M		538.3007	A	⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾	638.3007	D
Common Stock	01/30/2026		D		538.3007	D	$10.69⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾	100	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Shares	⁽¹⁾⁽²⁾	01/30/2026		M			203.6109	⁽¹⁾⁽²⁾	⁽¹⁾⁽²⁾	Common Stock	203.6109	⁽¹⁾⁽²⁾	407.2218	D
Phantom Shares	⁽¹⁾⁽³⁾	01/30/2026		M			171.3944	⁽¹⁾⁽³⁾	⁽¹⁾⁽³⁾	Common Stock	171.3944	⁽¹⁾⁽³⁾	171.3944	D
Phantom Shares	⁽¹⁾⁽⁴⁾	01/30/2026		M			163.2954	⁽¹⁾⁽⁴⁾	⁽¹⁾⁽⁴⁾	Common Stock	163.2954	⁽¹⁾⁽⁴⁾	0.00	D

Explanation of Responses:

1. A phantom share is the economic equivalent of one share of common stock and, subject to the applicable vesting requirements, becomes payable in cash.

2. As previously reported on a Form 4 dated February 4, 2025, the Reporting Person was granted phantom shares on January 31, 2025 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.

3. As previously reported on a Form 4 dated February 2, 2024, the Reporting Person was granted phantom shares on January 31, 2024 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.

4. As previously reported on a Form 4 dated February 2, 2023, the Reporting Person was granted phantom shares on January 31, 2023 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.

	/s/ Gladys Chang as Attorney-in-Fact	02/03/2026
	** 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 activity did MYD portfolio manager Walter O'Connor report on January 30, 2026?

Walter O’Connor reported exercising 538.3007 stock-linked units into common shares, then selling 538.3007 common shares at $10.69 each. After these transactions, he directly held 100 common shares of BlackRock MuniYield Fund, Inc. as disclosed in the Form 4 filing.

How many BlackRock MuniYield Fund (MYD) shares does Walter O'Connor hold after the reported trades?

After the reported January 30, 2026 transactions, Walter O’Connor directly holds 100 common shares of BlackRock MuniYield Fund, Inc. This figure reflects both the exercise of 538.3007 shares and the same-day sale of 538.3007 common shares at $10.69 per share.

What price did Walter O'Connor receive for the MYD shares sold in this Form 4 filing?

The filing shows Walter O’Connor disposed of 538.3007 shares of BlackRock MuniYield Fund, Inc. common stock at a price of $10.69 per share. These sales occurred on January 30, 2026, immediately after the conversion of an equal number of stock-linked units into common shares.

What are phantom shares in the MYD Form 4 filed by Walter O'Connor?

The Form 4 explains that each phantom share is economically equivalent to one share of MYD common stock but is payable in cash, not stock. These compensation awards vest in equal installments over three years from the grant date before becoming cash-settled units.

Is Walter O'Connor considered a 10% owner or officer of BlackRock MuniYield Fund (MYD)?

According to the Form 4, Walter O’Connor is identified as a “Portfolio Manager” and is not checked as a director, officer, or 10% owner of BlackRock MuniYield Fund, Inc. The filing is made by one reporting person in this portfolio manager capacity.