HUBBARD ROBERT GLENN 4
4 · BLACKROCK MUNIHOLDINGS FUND, INC. · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
MHD Director Glenn R. Hubbard Receives Shares in Reorganization
What Happened
Glenn R. Hubbard, a director of BlackRock MuniHoldings Fund, Inc. (MHD), was credited with a total of 1,157 MHD common shares on Feb 9, 2026. These were not open‑market purchases but shares received in a corporate reorganization: 285 shares (from BlackRock Municipal Income Trust), 587 shares (from BlackRock Municipal Income Trust II) and 285 shares (from BlackRock Municipal Income Quality Trust). No per‑share trade price was reported (filing shows "N/A"); using the Acquiring Fund NAV of $12.8419 (per the footnotes), the implied aggregate value of the 1,157 shares is about $14,858 (estimate based on NAV).
Key Details
- Transaction date: Feb 9, 2026; Form 4 filed Feb 11, 2026 (timely reporting).
- Reported as code J ("Other acquisition or disposition") — the filing’s footnotes explain these were share conversions from three predecessor BlackRock municipal funds into MHD.
- Shares received by conversion: 285, 587, and 285 (total 1,157).
- Original surrendered shares (per footnotes): 336, 661, and 305 (total 1,302); conversion ratios produced the 1,157 new MHD shares.
- NAVs and conversion ratios (per filing footnotes):
- BlackRock Municipal Income Trust: NAV $10.8945, conversion ratio 0.84835577 → 336 old → 285 new.
- BlackRock Municipal Income Trust II: NAV $11.4106, conversion ratio 0.88854453 → 661 old → 587 new.
- BlackRock Municipal Income Quality Trust: NAV $12.0152, conversion ratio 0.93562479 → 305 old → 285 new.
- Cash was paid for any fractional shares, per the footnotes.
- Filing does not state Hubbard’s total MHD holdings after the conversion.
Context
This transaction reflects a fund reorganization—existing shares of three BlackRock municipal funds were converted into shares of the combined Acquiring Fund (MHD) at fixed conversion ratios and NAVs. Because these were in‑kind conversions (not discretionary buys or sells), they do not necessarily signal a director’s change in market view; they simply convert prior fund holdings into shares of the new combined fund.
Insider Transaction Report
- Other
Common Stock
[F1]2026-02-09+285→ 613 total - Other
Common Stock
[F2]2026-02-09+587→ 1,200 total - Other
Common Stock
[F3]2026-02-09+285→ 1,485 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, Glenn R Hubbard received 285 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 336 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, Glenn R Hubbard received 587 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 661 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, Glenn R Hubbard received 285 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 305 common shares of the Target Fund.