JPMORGAN CHASE & CO 4

What Happened

• JPMorgan Chase & Co. (reporting as a 10% owner, via its indirect interest in DNT Asset Trust) reported the disposition of 786 Series W-7 Variable Rate Muni Term Preferred Shares of BlackRock MuniYield Quality Fund II, Inc. (MQT).
• The filing lists the disposition as an "other acquisition or disposition (J)" on 2026-02-23; no dollar price is reported (price = N/A) because the shares were exchanged in a cashless transaction as part of a reorganization into BlackRock MuniYield Quality Fund, Inc. (MQY).

Key Details

• Transaction date: 2026-02-23 (reported on Form 4 filed 2026-02-26).
• Transaction type/code: Other acquisition/disposition (J) — cashless exchange; price shown as N/A.
• Shares disposed: 786 Series W-7 VMTP shares (exchanged for 786 Series W-7B Variable Rate Demand Preferred Shares of MQY per footnote).
• Shares owned after transaction: Not specified in the Form 4 Table I.
• Notable footnotes:
  • F1: The 786 VMTP shares were exchanged for an equal number of MQY Series W-7B demand preferred shares in a cashless reorganization; the reported disposed shares were beneficially owned by DNT Trust.
  • F2: Statement is jointly filed by JPMorgan Chase & Co. and DNT Trust; JPMorgan’s interest is indirect via its subsidiary DNT Trust.
  • F3: Joint filers disclaim that this filing should not be construed as forming a group under Section 13(d).
• Timeliness: Form 4 was filed three days after the transaction date; the filing does not indicate a late filing flag.

Context

• This was a corporate reorganization/cashless exchange of preferred shares, not an open-market sale by an individual insider. Such institutional reorganization transfers are typically administrative and do not necessarily signal buy/sell sentiment about the company’s outlook.
• Because the shares were exchanged (cashless) and no price is reported, there is no direct cash value disclosed for this transaction.