OCONNOR WALTER 4

4 · BLACKROCK MUNIASSETS FUND, INC. · Filed Feb 3, 2026

AI-generated summary of this filing

Updated Feb 4, 2026

BlackRock MuniAssets (MUA) PM Walter O'Connor Sells 1,051 Shares

What Happened

Walter O'Connor, a portfolio manager at BlackRock MuniAssets Fund, exercised/converted cash‑settled phantom share awards and had 1,051.058 shares disposed to the issuer at $11.07 per share, producing $11,635 in cash on January 30, 2026. The filing also reports conversions/dispositions of 389.176, 336.025 and 325.858 phantom/derivative shares (no per‑share price reported for those line items).
This was not an open‑market purchase; it was a cash settlement/return of phantom/share equivalents (a form of payout), so it represents a routine award settlement rather than a stock‑market sale for investment exposure.

Key Details

Transaction date: 2026-01-30; reported on Form 4 filed 2026-02-03 (filed within the typical 2‑business‑day window).
Reported disposition: 1,051.058 shares at $11.07 each = $11,635 (disposition to issuer). Other reported derivative conversions/dispositions: 389.176, 336.025 and 325.858 shares (price reported as N/A).
Shares owned after the transaction: not stated in the provided filing excerpt.
Footnotes: these entries relate to "phantom shares" (F1) — cash‑settled awards granted in prior years (grants dated Jan 31, 2023; Jan 31, 2024; Jan 31, 2025) that vest in equal installments over three years (F2–F4). The phantom shares are payable in cash on vesting.
Filing timeliness: no late filing indicated.

Context

These are derivative/phantom share settlements (code M for exercise/conversion; D for disposition to issuer) and appear to be cash settlements of vested award installments rather than a market sale of owned common stock. Such settlements are typically routine payroll/compensation events and do not necessarily signal insider sentiment about the company’s stock.

Form 4

Period: 2026-01-30

Other

Transactions

Exercise/Conversion
Common Stock
[F1][F2][F3][F4]
2026-01-30+1,051.058→ 1,051.058 total
Disposition to Issuer
Common Stock
[F1][F2][F3][F4]
2026-01-30$11.07/sh−1,051.058$11,635→ 0 total
Exercise/Conversion
Phantom Shares
[F1][F2]
2026-01-30−389.176→ 778.351 total
→ Common Stock (389.176 underlying)
Exercise/Conversion
Phantom Shares
[F1][F3]
2026-01-30−336.025→ 336.025 total
→ Common Stock (336.025 underlying)
Exercise/Conversion
Phantom Shares
[F1][F4]
2026-01-30−325.858→ 0 total
→ Common Stock (325.858 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, 2024, the Reporting Person was granted phantom shares on January 31, 2024 payable in cash on vesting, which occurs in equal installments on each of the first three anniversaries of the grant date.
[F4]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.

Signature

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

1 file