Harris Stayce D. 4

What Happened Stayce D. Harris, a director of BlackRock Municipal Income Trust (BFK), recorded an "other" disposition on Feb 9, 2026: her 10.7281 common shares of the Target Fund were converted in a fund reorganization into 9 common shares of BlackRock MuniHoldings Fund, Inc. (the Acquiring Fund). No open-market sale occurred — the change was the result of the statutory reorganization and included cash for any fractional shares. Reported NAVs were $10.8945 (Target Fund as of Feb 6) and $12.8419 (Acquiring Fund as of Feb 6); the conversion ratio was 0.84835577.

Key Details

• Transaction date: 2026-02-09 (reported on Form 4 filed 2026-02-11) — filed timely.
• Transaction code: J (other acquisition or disposition) — reorganization conversion, not a sale/purchase.
• Disposed/converted: 10.7281 shares of BlackRock Municipal Income Trust → received 9 shares of BlackRock MuniHoldings Fund, Inc.; cash for fractional share(s), if any.
• Price: N/A (in-kind conversion based on NAVs); implied post-conversion value ≈ 9 × $12.8419 = ~$115.58 (using reported NAV).
• Shares owned after transaction: 9 common shares of the Acquiring Fund (plus any cash for fractional shares).
• Footnote: Reorganization effective Feb 9, 2026; conversion ratio 0.84835577; NAVs used to determine conversion shown above.
• Timeliness: Form 4 was filed within the required reporting window.

Context This filing documents an administrative conversion caused by a fund reorganization, not an insider-initiated market sale or purchase. Such corporate actions reflect structural changes to the fund and generally do not signal director trading intent. The dollar value involved here is small and derived from NAVs reported in the filing.