Harris Stayce D. 4

What Happened
Stayce D. Harris, a director of BlackRock MuniHoldings Fund, Inc. (MHD), acquired a total of 37 MHD common shares on February 9, 2026. The shares were not purchased on the open market — they were issued to Ms. Harris as part of reorganizations that converted holdings in four BlackRock municipal funds into shares of MHD. The reported transactions show 9, 9, 10 and 9 shares received (total = 37). No per-share trade price is reported (transactions coded “J” for reorganization); the acquiring fund’s NAV used for conversion was $12.8419 as of February 6, 2026.

Key Details

• Transaction date: February 9, 2026 (reported on Form 4 filed Feb 11, 2026 — timely filing).
• Shares received: 9 + 9 + 10 + 9 = 37 total; price per share: N/A (received via reorganization).
• Reorganizations involved (conversion of prior fund shares into MHD):
  • From BlackRock Municipal Income Trust — received 9 shares (exchanged for ~10.7281 old shares).
  • From BlackRock Municipal Income Trust II — received 9 shares (exchanged for ~10.755 old shares).
  • From BlackRock Municipal Income Quality Trust — received 10 shares (exchanged for ~10.7409 old shares).
  • From BlackRock MuniHoldings Quality Fund II, Inc. — received 9 shares (exchanged for ~10.7424 old shares).
• NAV used to set conversion value: MHD NAV $12.8419 (as of Feb 6, 2026); target fund NAVs and conversion ratios are detailed in the filing footnotes.
• Filing was timely (Form 4 filed two days after the effective date). No indication of 10b5-1 plan, awards, or tax-withholding reported.

Context
These transactions are corporate reorganizations (transaction code J) that convert shares of predecessor BlackRock municipal funds into shares of the acquiring fund, MHD. Such conversions are administrative — they reflect fund-level mergers and NAV-based exchange ratios rather than a director buying or selling based on market views, so they should not be read as a personal bullish or bearish signal.