Soccio Phillip 4

What Happened

• Phillip Soccio, a portfolio manager at BlackRock MuniYield Fund, had 44.405 phantom shares (a derivative award) vest/convert on Jan 30, 2026 and those shares were disposed to the issuer at $10.69 per share for a cash amount of about $475. The filing shows an exercise/conversion of the derivative (code M) and a disposition to the issuer (code D).

Key Details

• Transaction date: 2026-01-30; Form filed: 2026-02-03 (timely filing).
• Actions reported: conversion/exercise of a derivative (M) for 44.405 phantom-share equivalents, followed by disposition to the issuer (D) of 44.405 shares at $10.69/share.
• Total proceeds shown: approximately $475.
• Shares owned after transaction: not specified in this filing.
• Notes: Footnote states these are "phantom shares" — economic equivalents payable in cash on vesting. The grant was originally made Jan 31, 2023 and vests in equal installments over the first three anniversaries of the grant.

Context

• These were phantom (cash-settled) awards that vested and were immediately settled/paid by the issuer rather than an open-market sale of existing shares. Such settlements are typically routine compensation/tax-related events and do not by themselves indicate a change in insider sentiment.