KALINOSKI MICHAEL 4
4 · BLACKROCK MUNICIPAL INCOME TRUST · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
BFK Director Michael Kalinoski Disposes 5.16 Shares in Reorg
What Happened
Michael Kalinoski, a director of BlackRock Municipal Income Trust (BFK), is reported to have disposed of 5.1602 shares of BFK on February 9, 2026. The Form 4 records the transaction as an "other acquisition or disposition" (code J) with no per-share price (N/A) because the change resulted from a corporate reorganization: BFK was reorganized into BlackRock MuniHoldings Fund, Inc. In the exchange Kalinoski received 4 common shares of the acquiring fund and cash for any fractional share.
Key Details
- Transaction date: February 9, 2026; Form 4 filed February 11, 2026 (timely filing).
- Reported transaction: Disposition of 5.1602 BFK shares (code J); price and sale value shown as N/A on the Form 4.
- Conversion specifics (footnote): conversion ratio = 0.84835577; BFK NAV on Feb 6, 2026 = $10.8945; Acquiring Fund NAV = $12.8419.
- Resulting holding from this exchange: 4 shares of BlackRock MuniHoldings Fund, Inc. (plus cash for fractional shares).
- No indication of a market sale or open-market trade—this was an in-kind reorganization exchange.
Context
This transaction reflects a fund reorganization (corporate action) rather than an insider buying or selling shares on the open market. Such conversions are administrative and do not necessarily signal the director’s view of the security’s prospects. The Form 4 shows the original fund shares surrendered; consideration was received in the form of shares of the acquiring fund and cash for fractions.
Insider Transaction Report
- Other
Common Stock
[F1]2026-02-09−5.16→ 0 total
Footnotes (1)
- [F1]Effective as of February 9, 2026 BlackRock Municipal Income 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 $10.8945 and the Acquiring Fund reported a NAV per share of $12.8419. The conversion ratio for the Target Fund's common shares was 0.84835577. In the reorganization, Michael Kalinoski received 4 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 5.1602 common shares of the Target Fund.