KESTER W CARL 4
4 · BLACKROCK MUNIHOLDINGS QUALITY FUND II, INC. · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
MUE Director Carl W. Kester Receives Shares in Fund Reorganization
What Happened
Carl W. Kester, a director of BlackRock MuniHoldings Quality Fund II, Inc. (ticker: MUE), reported an "other acquisition or disposition" (code J) on 2026-02-09. As part of a fund reorganization, he surrendered 100 shares of the Target Fund and received 85 common shares of the Acquiring Fund (BlackRock MuniHoldings Fund, Inc.), with cash paid for any fractional share. Based on the funds' reported NAVs as of Feb 6, 2026 (Target NAV $10.9625; Acquiring NAV $12.8419) the exchange represented roughly $1,096 in value.
Key Details
- Transaction date: February 9, 2026 (reported on Form 4 filed Feb 11, 2026).
- Transaction code: J (other acquisition or disposition) — this reflects the corporate reorganization exchange, not an open-market sale.
- Amount exchanged: 100 shares of BlackRock MuniHoldings Quality Fund II surrendered; 85 whole shares of the Acquiring Fund received (plus cash for fractional shares). Conversion ratio disclosed: 0.85365094.
- NAVs used in the conversion (as of Feb 6, 2026): Target Fund $10.9625; Acquiring Fund $12.8419.
- Shares owned after transaction: the filing reports receipt of 85 shares of the Acquiring Fund (and cash for any fraction).
- Filing timeliness: Form 4 was filed Feb 11, 2026 for a Feb 9 transaction — consistent with the standard 2-business-day reporting window.
Context
This was a non-market corporate reorganization converting fund shares on a pro rata NAV basis; it is not an insider purchase or sale driven by trading intent. Such exchanges are routine when funds merge or reorganize and do not by themselves signal insider sentiment.
Insider Transaction Report
- Other
Common Stock
[F1]2026-02-09−100→ 0 total
Footnotes (1)
- [F1]Effective as of February 9, 2026, BlackRock MuniHoldings Quality Fund II, Inc. (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 $10.9625 and the Acquiring Fund reported a NAV per share of $12.8419. The conversion ratio for the Target Fund's common shares was 0.85365094. In the reorganization, Carl W. Kester received 85 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 100 common shares of the Target Fund.