Phantom share reallocation for MYI portfolio manager Phillip Soccio detailed

Rhea-AI Filing Summary

BLACKROCK MUNIYIELD QUALITY FUND III, INC. reported an administrative change in portfolio manager Phillip Soccio’s compensation-related holdings. A total of 109.17 phantom shares, each valued at $11.24, is now shown under this fund following a reorganization.

Phantom shares are described as the economic equivalent of one common share and, after meeting vesting requirements, are payable in cash rather than stock. The filing explains that these units were reallocated from BlackRock MuniVest Fund, Inc. into the current fund using the reorganization exchange ratio, and that Soccio paid no additional consideration for this reallocation.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Soccio Phillip

Role Insider

Type	Security	Shares	Price	Value
Other	Phantom Shares	109.17	$11.24	$1K

Holdings After Transaction: Phantom Shares — 109.17 shares (Direct)

Footnotes (1)

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. 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 connection with this reorganization, phantom stock units previously awarded to Phillip Soccio in the Target Fund were reallocated to the Acquiring Fund. The number of phantom stock units in the Acquiring Fund (109.17 units at $11.24 per share) represents the value of the reporting person's former Target Fund phantom stock units converted at the exchange ratio used in the reorganization. No additional consideration was paid by the reporting person in connection with this reallocation.

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
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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^*

Soccio Phillip

(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)
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

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)	02/23/2026		J(2)		109.17		(1)(2)	(1)(2)	Common Stock	109.17	$11.24(2)	109.17	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. 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 connection with this reorganization, phantom stock units previously awarded to Phillip Soccio in the Target Fund were reallocated to the Acquiring Fund. The number of phantom stock units in the Acquiring Fund (109.17 units at $11.24 per share) represents the value of the reporting person's former Target Fund phantom stock units converted at the exchange ratio used in the reorganization. No additional consideration was paid by the reporting person in connection with this reallocation.

	/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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FAQ

What insider activity did MYI report for Phillip Soccio on this Form 4?

The Form 4 reports an administrative reallocation of 109.17 phantom shares for Phillip Soccio. These units moved from a predecessor fund into BlackRock MuniYield Quality Fund III following a reorganization, with no additional payment by Soccio.

How many phantom shares were involved in the MYI insider transaction?

The filing shows 109.17 phantom shares linked to Phillip Soccio after the transaction. The number reflects the value of his prior phantom units converted at the reorganization exchange ratio between BlackRock MuniVest Fund, Inc. and BlackRock MuniYield Quality Fund III.

Did Phillip Soccio buy or sell MYI shares in this Form 4 filing?

The Form 4 does not show a traditional buy or sell of MYI stock. It records an “other” transaction where existing phantom stock units were reallocated between funds during a reorganization, with no additional consideration paid by Soccio.

What are phantom shares in the context of the MYI Form 4 filing?

Phantom shares are described as the economic equivalent of one share of common stock. For MYI, they are compensation units that, after satisfying vesting conditions, become payable in cash rather than delivering actual fund shares to the reporting person.

Why were MYI phantom shares reallocated to Phillip Soccio in this transaction?

The reallocation occurred because BlackRock MuniVest Fund, Inc. was reorganized into BlackRock MuniYield Quality Fund III. Soccio’s existing phantom stock units in the former fund were converted into 109.17 phantom units in MYI using the same exchange ratio applied in the reorganization.