O’Connor sells MYI shares after phantom vesting

Walter O’Connor, a portfolio manager of BlackRock MuniYield Quality Fund III, reported vesting-related equity movements in MYI.

Rhea-AI Filing Summary

Walter O’Connor, a portfolio manager of BlackRock MuniYield Quality Fund III, reported vesting-related equity movements in MYI. On January 30, 2026, he converted 193.8703 and 160.4716 phantom shares, which are cash-settled equivalents of common stock, into 354.342 shares of common stock.

He then disposed of 354.342 common shares at a price of $11.16 per share, leaving him with 100 common shares directly owned. After these transactions, he held 387.7407 phantom shares from a 2025 grant, while phantom shares from a 2023 grant were fully settled.

Insider Trade Summary

354.3419 shares exercised/converted

Exercise 4 txns

Insider OCONNOR WALTER

Role Insider

Type	Security	Shares	Price	Value
Exercise	Phantom Shares	193.8703	$0.00	$0.00
Exercise	Phantom Shares	160.4716	$0.00	$0.00
Exercise	Common Stock	354.342	$0.00	$0.00
Disposition	Common Stock	354.342	$11.16	$4K

Holdings After Transaction: Phantom Shares — 387.7407 contracts (Direct); Common Stock — 100 shares (Direct)

Footnotes (3)

1. F1. 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. F2. 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. F3. 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Walter O’Connor report for MYI?

Walter O’Connor reported converting phantom shares into common stock, then selling those shares. On January 30, 2026, he turned 354.342 phantom-equivalent shares into common stock and sold all 354.342 shares at $11.16 each, according to the Form 4.

How many MYI common shares does Walter O’Connor own after this Form 4?

After the reported transactions, Walter O’Connor directly owns 100 MYI common shares. He previously converted and sold 354.342 common shares on January 30, 2026, reducing his directly held common stock position to this post-transaction balance.

What happened to Walter O’Connor’s phantom shares in this MYI filing?

O’Connor exercised 193.8703 and 160.4716 phantom shares into common stock as they vested. Following these movements, he held 387.7407 phantom shares from a 2025 grant, while the phantom shares from a 2023 grant were fully settled and showed a zero remaining balance.

What are phantom shares in the context of MYI and Walter O’Connor’s Form 4?

In this filing, a phantom share is the economic equivalent of one MYI common share, payable in cash when vesting conditions are met. They do not represent actual stock but track the value of common shares and settle in cash rather than delivering new shares.

At what price were Walter O’Connor’s MYI shares sold in this transaction?

The MYI common shares were sold at $11.16 per share. Specifically, 354.342 common shares that had just been acquired through the exercise of phantom shares were disposed of in a single transaction at this reported sale price on January 30, 2026.

What role does Walter O’Connor have at BlackRock MuniYield Quality Fund III (MYI)?

Walter O’Connor is identified in the filing as a portfolio manager for BlackRock MuniYield Quality Fund III. He is not listed as a director, officer, or 10% owner, but reports his holdings and transactions because of his status as a portfolio manager.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/03/2026 - 08:11 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^*

OCONNOR WALTER

(Last) (First) (Middle)

50 HUDSON YARDS

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

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

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/30/2026		M		354.342	A	(1)(2)(3)	454.342	D
Common Stock	01/30/2026		D		354.342	D	$11.16(1)(2)(3)	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Shares	(1)(2)	01/30/2026		M			193.8703	(1)(2)	(1)(2)	Common Stock	193.8703	(1)(2)	387.7407	D
Phantom Shares	(1)(3)	01/30/2026		M			160.4716	(1)(3)	(1)(3)	Common Stock	160.4716	(1)(3)	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, 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.