Maloney Kevin 4

What Happened
Kevin Maloney, a portfolio manager for BlackRock Taxable Municipal Bond Trust (BBN), had multiple derivative-related transactions on 2026-01-30. He disposed (to the issuer) 417.767 shares at $16.30 per share for total proceeds of $6,810. At the same time he was granted 1,119.632 phantom shares (a cash‑settled award) valued at $16.30 each (total $18,250). The filing also reports two additional derivative exercise/conversion entries for 365.084 and 52.683 shares (marked as M/exercise or conversion) with no per‑share price listed in the filing.

Key Details

• Transaction date: 2026-01-30; Form filed on 2026-02-03 (reporting of transactions in this filing relates to 1/30/2026).
• Reported disposition: 417.767 shares sold to the issuer at $16.30 each = $6,810.
• Reported award: 1,119.632 phantom shares valued at $16.30 each = $18,250 (derivative award).
• Other derivative exercises/conversions listed: 365.084 and 52.683 shares (no per‑share price/amount provided).
• Shares owned after transaction: not specified in the filing.
• Footnotes: Phantom shares are cash‑settled equivalents of common stock and vest/pay out in equal installments over the first three anniversaries of the award (footnotes reference prior phantom grants on 1/31/2024 and 1/31/2025 with the same vesting schedule).

Context
These transactions are primarily derivative exercises and a cash‑settled award (phantom shares), not open‑market purchases or standard sales. Dispositions "to the issuer" commonly reflect shares surrendered to the company (for example, to satisfy tax withholding or to effect a cashless conversion), while phantom shares are compensation that will be payable in cash on vesting. This filing does not by itself indicate a traditional buy or sell signal by the insider.