KALINOSKI MICHAEL 4
4 · BLACKROCK MUNIHOLDINGS FUND, INC. · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
BlackRock MuniHoldings (MHD) Director Michael Kalinoski Receives Shares
What Happened
- Michael Kalinoski, a director of BlackRock MuniHoldings Fund, Inc. (MHD), received a total of 6,308 MHD common shares on Feb 9, 2026 as part of reorganizations of three BlackRock municipal bond closed-end funds. The filing reports three "other acquisition or disposition (J)" entries (no per-share trade price): 4 shares, 5,837 shares and 467 shares. Using the Acquiring Fund NAV reported in the footnotes ($12.8419), the shares are worth roughly $81,000 in aggregate. These were not open-market purchases but conversion exchanges in a corporate reorganization.
Key Details
- Transaction date: Feb 9, 2026; Form 4 filed Feb 11, 2026 (no late filing noted).
- Transaction type/code: "Other acquisition or disposition (J)" — shares issued in reorganizations (conversion), price N/A.
- Shares received: 4 (from BlackRock Municipal Income Trust), 5,837 (from BlackRock Municipal Income Trust II), 467 (from BlackRock Municipal Income Quality Trust) — total 6,308 MHD shares.
- Approximate value: 6,308 × $12.8419 (Acquiring Fund NAV per footnotes) ≈ $81,007.
- Shares owned after transaction: not specified in the filing.
- Notable footnotes: each receipt resulted from a Feb 9, 2026 reorganization of a target fund into BlackRock MuniHoldings; conversion ratios and target-fund NAVs are included in the footnotes; cash was paid for any fractional shares.
Context
- These were corporate reorganizations (share conversions based on NAV), not discretionary insider purchases or sales — they reflect fund consolidation mechanics rather than a trading decision by the director. Such conversions are routine for shareholders affected by fund mergers and generally shouldn't be read as a buy/sell signal about the director's view of the stock.
Insider Transaction Report
Form 4
KALINOSKI MICHAEL
Director
Transactions
- Other
Common Stock
[F1]2026-02-09+4→ 1,100 total - Other
Common Stock
[F2]2026-02-09+5,837→ 6,937 total - Other
Common Stock
[F3]2026-02-09+467→ 7,404 total
Footnotes (3)
- [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.
- [F2]Effective as of February 9, 2026 BlackRock Municipal Income Trust II (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 $11.4106 and the Acquiring Fund reported a NAV per share of $12.8419. The conversion ratio for the Target Fund's common shares was 0.88854453. In the reorganization, Michael Kalinoski received 5837 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 6569.7894 common shares of the Target Fund.
- [F3]Effective as of February 9, 2026 BlackRock Municipal Income Quality 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 $12.0152 and the Acquiring Fund reported a NAV per share of $12.8419. The conversion ratio for the Target Fund's common shares was 0.93562479. In the reorganization, Michael Kalinoski received 467 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 500 common shares of the Target Fund.
Signature
/s/ Gladys Chang as Attorney-in-Fact|2026-02-11