HUBBARD ROBERT GLENN 4
4 · BLACKROCK MUNICIPAL INCOME QUALITY TRUST · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
BYM Director Robert G. Hubbard Converts 305 Shares in Reorganization
What Happened
Robert G. Hubbard, a director of BlackRock Municipal Income Quality Trust (BYM), reported an "other acquisition or disposition" on Feb 9, 2026 related to a fund reorganization. Hubbard surrendered 305 shares of the Target Fund (BYM) and received 285 common shares of the Acquiring Fund (BlackRock MuniHoldings Fund, Inc.) plus cash for any fractional share. This was not an open‑market sale or purchase but a conversion under the reorganization.
Key Details
- Transaction date: February 9, 2026 (filed with the SEC on Feb 11, 2026).
- Reported transaction type/code: Other acquisition/disposition (Code J) due to a fund reorganization.
- Conversion specifics (per footnote): Target Fund NAV (Feb 6, 2026) = $12.0152; Acquiring Fund NAV (Feb 6, 2026) = $12.8419; conversion ratio = 0.93562479.
- Shares converted: 305 Target Fund shares → 285 Acquiring Fund shares (cash for any fraction).
- Approximate values: 305 BYM shares at BYM NAV ≈ $3,664.64; 285 Acquiring Fund shares at Acquiring Fund NAV ≈ $3,660.93 (net may differ after reorganization costs).
- Shares owned after transaction: Not specified in the excerpt of the filing.
- Filing timeliness: Filed Feb 11 for a Feb 9 transaction — appears timely (not noted as late).
Context
This filing documents a mandatory fund reorganization conversion rather than insider buying or selling for personal investment reasons. Such conversions are routine administrative corporate actions that exchange one fund's shares for another based on NAV and a conversion ratio; they do not, by themselves, indicate the insider's market view.
Insider Transaction Report
- Other
Common Stock
[F1]2026-02-09−305→ 0 total
Footnotes (1)
- [F1]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.