HUBBARD ROBERT GLENN 4

What Happened

• Glenn R. Hubbard, a director of BlackRock New York Municipal Income Trust (BNY), had 889 BNY common shares converted into 908 common shares of BlackRock MuniYield New York Quality Fund as part of a fund reorganization on Feb 9, 2026. The Form 4 reports the transaction as code J ("other acquisition or disposition") and lists price as N/A because the exchange was effected via NAV-based conversion rather than an open-market trade.
• Using the reported NAVs (BNY $11.1056, Acquiring Fund $10.8726 as of Feb 6, 2026) the converted position is worth roughly $9,873 (889 × $11.1056 ≈ $9,872.88; 908 × $10.8726 ≈ $9,872.32).

Key Details

• Transaction date: 2026-02-09; Form 4 filed: 2026-02-11 (timely, within the two-business-day reporting window).
• Transaction type/code: J — Other acquisition/disposition (fund reorganization/conversion).
• Conversion ratio: 1.02143002 (889 shares × ratio ≈ 908 shares; cash paid for any fractional share).
• Shares after transaction: 908 common shares of BlackRock MuniYield New York Quality Fund (received in exchange for 889 BNY shares).
• Filing lists price as N/A because consideration was NAV-based; footnote explains conversion mechanics.

Context

• This was a corporate reorganization (merger/conversion of funds), not a market sale or a discretionary purchase by the insider. Such conversions are administrative and reflect the exchange of fund shares at stated NAVs rather than insider buying or selling for investment reasons.