KALINOSKI MICHAEL 4

What Happened

• Michael Kalinoski, a director of BlackRock Municipal Income Trust II (BLE), had 6,569.7894 BLE common shares surrendered in a fund reorganization on Feb 9, 2026 (transaction coded as "J" — other acquisition/disposition). In the reorganization into BlackRock MuniHoldings Fund, Inc., he received 5,837 common shares of the Acquiring Fund (and cash for any fractional share). Based on reported NAVs (BLE $11.4106; Acquiring Fund $12.8419), the exchanged position is worth roughly $75,000 at the Acquiring Fund NAV.

Key Details

• Transaction date: 2026-02-09; Form 4 filed 2026-02-11 (appears timely).
• Disposition: 6,569.7894 BLE shares surrendered; Received: 5,837 shares of BlackRock MuniHoldings Fund, Inc.
• NAVs and conversion: BLE NAV $11.4106; Acquiring Fund NAV $12.8419; conversion ratio 0.88854453 per footnote.
• Consideration: cash paid for fractional shares (per footnote). No open-market sale — this was a corporate reorganization (code J).

Context

• This is a corporate-action conversion (reorganization), not a discretionary sale or purchase by the insider; it reflects the automated exchange of fund shares into the Acquiring Fund under the stated conversion ratio and NAVs. Such transactions generally do not signal insider sentiment about the market.