KALINOSKI MICHAEL 4
4 · BLACKROCK MUNICIPAL INCOME QUALITY TRUST · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
BYM Director Michael Kalinoski Converts 500 Shares in Reorg
What Happened
Michael Kalinoski, a director of BlackRock Municipal Income Quality Trust (BYM), had 500 common shares of the Target Fund converted into shares of the acquiring fund as part of a fund reorganization effective February 9, 2026. The filing reports the 500 Target Fund shares were exchanged under reorganization terms; Kalinoski received 467 common shares of BlackRock MuniHoldings Fund, with cash paid for any fractional share.
Key Details
- Transaction date: February 9, 2026. Form 4 filed February 11, 2026 (timely; within two business days).
- Reported transaction code: J (other acquisition or disposition) — this is not an open-market sale or purchase.
- Surrendered: 500 shares of BlackRock Municipal Income Quality Trust (Target Fund).
- Received: 467 common shares of BlackRock MuniHoldings Fund (Acquiring Fund); fractional share value paid in cash.
- NAVs and conversion: Target Fund NAV $12.0152 and Acquiring Fund NAV $12.8419 (as of Feb 6, 2026); conversion ratio 0.93562479 (500 × 0.93562479 ≈ 467.8).
- Price per share / total trade value: N/A for a market price — value was determined by NAV and cash adjustment in the reorganization.
- Shares owned after transaction: 467 common shares of the Acquiring Fund (plus any cash for fractionals).
- No indication of a 10b5‑1 plan, tax withholding, or a late filing in this Form 4.
Context
This was a fund reorganization (conversion of shares) rather than a purchase or sale on the open market. Such conversions reflect structural fund changes and NAV-based exchanges, not an insider expressing buy/sell sentiment. Retail investors should treat this as an administrative conversion, not as a trading signal.
Insider Transaction Report
- Other
Common Stock
[F1]2026-02-09−500→ 0 total
Footnotes (1)
- [F1]Effective as of February 9, 2026 BlackRock Municipal Income Quality Trust (the "Target Fund") was reorganized into BlackRock MuniHoldings Fund, Inc. (the "Acquiring Fund"). In the reorganization, common shareholders of the Target Fund received common shares of the Acquiring Fund having a value equal to the aggregate NAV of the Target Fund common shares surrendered as determined at the close of business on February 6, 2026, less the costs of the reorganization. As of February 6, 2026, the Target Fund reported a NAV per share of $12.0152 and the Acquiring Fund reported a NAV per share of $12.8419. The conversion ratio for the Target Fund's common shares was 0.93562479. In the reorganization, Michael Kalinoski received 467 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 500 common shares of the Target Fund.