OCONNOR WALTER 4
4 · BLACKROCK MUNIYIELD FUND, INC. · Filed Feb 3, 2026
Research Summary
AI-generated summary of this filing
BlackRock MuniYield (MYD) Portfolio Manager Walter O'Connor Sells Shares
What Happened
Walter O'Connor, a portfolio manager at BlackRock MuniYield Fund, converted several derivative/phantom share awards and had shares (or cash equivalents) surrendered to the issuer. The filing shows a disposition to the issuer of 538.301 shares at $10.69 per share, netting $5,754. Additional conversions/exercises of phantom shares (203.611, 171.394 and 163.295 units) were reported as derivative transactions and were cash-settled (no per-share price reported).
Key Details
- Transaction date: January 30, 2026; Form 4 filed February 3, 2026.
- Reported trades:
- 538.301 shares disposed to issuer at $10.69 = $5,754 (reported as D).
- 203.611, 171.394 and 163.295 derivative units reported as exercised/converted (M); these were cash-settled—no share price reported.
- Footnotes explain these were "phantom shares" (cash-settled awards) granted in 2023–2025 that vest in equal installments over three years (see F1–F4).
- Shares owned after the transactions: not disclosed in this filing.
- Transaction codes: M = exercise/conversion of derivative; D = disposition to issuer.
Context
These were not open-market purchases or sales by the executive; they reflect conversion/settlement of company phantom-share awards that pay out in cash on vesting. Dispositions to the issuer often reflect the company withholding shares/cash to satisfy tax withholding or to settle the award rather than a traditional stock sale. This type of filing documents compensation settlement rather than an independent investment decision.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2][F3][F4]2026-01-30+538.301→ 638.301 total - Disposition to Issuer
Common Stock
[F1][F2][F3][F4]2026-01-30$10.69/sh−538.301$5,754→ 100 total - Exercise/Conversion
Phantom Shares
[F1][F2]2026-01-30−203.611→ 407.222 total→ Common Stock (203.611 underlying) - Exercise/Conversion
Phantom Shares
[F1][F3]2026-01-30−171.394→ 171.394 total→ Common Stock (171.394 underlying) - Exercise/Conversion
Phantom Shares
[F1][F4]2026-01-30−163.295→ 0 total→ Common Stock (163.295 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.