Santiago Kristi Manidis 4

What Happened
Santiago Kristi Manidis, a portfolio manager at BlackRock Muniyield Quality Fund, Inc. (MQY), was granted 168.372 phantom share units on January 30, 2026. The units were reported at $11.73 per unit for a reported value of approximately $1,975. This was an award (derivative grant), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-01-30; reported on Form 4 filed 2026-02-03 (filing appears timely).
• Instrument: 168.372 phantom share units valued at $11.73 each; total reported value ≈ $1,975.
• Shares owned after transaction: not disclosed in the filing.
• Footnotes: The units are "phantom shares" (economic equivalent of common stock, payable in cash subject to vesting). They vest in equal installments on each of the first three anniversaries of the award.
• Transaction type code: A (award/grant/other acquisition); derivative (cash-settled) award.

Context
Phantom-share awards are cash-settled equivalents of stock and typically do not result in immediate stock ownership or market activity. Because these units vest over time, they represent future compensation rather than an immediate bullish purchase of company stock. As with all insider filings, this is factual disclosure of compensation and should not be interpreted as a direct buy/sell signal.