Romaglino Christian 4

What Happened
Christian Romaglino, a director of BlackRock MuniHoldings Fund, Inc. (MHD), was credited with 684 common shares of the Acquiring Fund as part of a reorganization effective February 9, 2026 (transaction reported on Form 4). This was not an open-market buy or sale but an exchange: Romaglino surrendered 770.1207 shares of BlackRock Municipal Income Trust II (the Target Fund) and received 684 shares of MHD (cash paid for any fractional shares). Using the Acquiring Fund NAV of $12.8419 (as of Feb 6, 2026), the received shares are worth roughly $8,784.

Key Details

• Transaction date: February 9, 2026 (reported on Form 4 filed Feb 11, 2026).
• Transaction type/code: "Other acquisition or disposition" (code J) — acquisition via reorganization.
• Shares received: 684 common shares of BlackRock MuniHoldings Fund, Inc.
• Consideration/price: Not reported as a market price; conversion used NAVs (Acquiring Fund NAV $12.8419; Target Fund NAV $11.4106) and conversion ratio 0.88854453. Estimated value ≈ $8,784 (684 × $12.8419).
• Shares surrendered: 770.1207 shares of BlackRock Municipal Income Trust II; cash paid for fractional shares if any.
• Shares owned after transaction: Not specified in the filing.
• Timeliness: Filing dated Feb 11 for a Feb 9 transaction; appears timely (no lateness flag reported).

Context
This was a fund reorganization (BlackRock Municipal Income Trust II into BlackRock MuniHoldings Fund, Inc.), not discretionary insider buying or selling on the open market. Code J filings commonly reflect corporate actions like mergers or reorganizations; they do not necessarily signal the insider’s view of the stock. The reported value above is an estimate based on NAVs disclosed in the filing.