Romaglino Christian 4

4 · BLACKROCK MUNIYIELD QUALITY FUND III, INC. · Filed Feb 3, 2026

AI-generated summary of this filing

Updated Feb 3, 2026

MYI Portfolio Manager Christian Romaglino Exercises Phantom Shares

What Happened

Christian Romaglino, a portfolio manager for BlackRock MuniYield Quality Fund III, exercised/conversion of vested phantom-share awards and had a disposition to the issuer. On 2026-01-30 he converted phantom-share derivatives and 169.976 shares were turned over to the issuer at $11.16 each (proceeds $1,897). The filing also shows an award/recording of 180.332 phantom shares valued at $11.16 each ($2,012). Two additional derivative conversion/disposition line items (46.766 and 123.209 shares) were reported as part of the same activity.

Key Details

Transaction date: 2026-01-30; Form 4 filed 2026-02-03 (timely filing).
Price used for reported cash-equivalent value: $11.16 per share.
Disposition: 169.976 shares to issuer for $1,897.
Award/acquisition: 180.332 phantom shares valued at $2,012 (derivative award).
Additional derivative conversion/disposition entries: 46.766 and 123.209 shares (reported as exercises/conversions — no per-share cash reported for those lines).
Shares owned after the transaction: not specified in this filing.
Footnotes: These are phantom shares (economic equivalents of common shares payable in cash on vesting). Prior grants cited: Jan 31, 2023 and Jan 31, 2025; vest in equal installments on each of the first three anniversaries.

Context

Phantom shares are cash-settled awards (not issuance of common stock). Converting/vesting phantom shares typically results in a cash payment; the reported disposition to the issuer likely reflects shares/cash withheld or settled to satisfy tax or withholding obligations tied to the payout. This is routine compensation-related activity rather than an open-market buy/sell that signals a trading view.
For retail investors: purchases are usually more informative than routine vesting/cash-settlement events. This filing documents compensation-related conversions and an award; it does not by itself indicate a change in the manager’s view of the fund’s prospects.

Form 4

Period: 2026-01-30

Other

Transactions

Exercise/Conversion
Common Stock
[F1][F2][F3]
2026-01-30+169.976→ 169.976 total
Disposition to Issuer
Common Stock
[F1][F2][F3]
2026-01-30$11.16/sh−169.976$1,897→ 0 total
Award
Phantom Shares
[F1][F4]
2026-01-30$11.16/sh+180.332$2,012→ 180.332 total
→ Common Stock (180.332 underlying)
Exercise/Conversion
Phantom Shares
[F1][F2]
2026-01-30−46.766→ 93.533 total
→ Common Stock (46.766 underlying)
Exercise/Conversion
Phantom Shares
[F1][F3]
2026-01-30−123.209→ 0 total
→ Common Stock (123.209 underlying)

Footnotes (4)

[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.
[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.
[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.
[F4]These phantom shares vest in equal installments on each of the first three anniversaries of the award.

Signature

/s/ Gladys Chang as Attorney-in-Fact|2026-02-03

1 file