SEC Form 4 · accession 0001209191-15-070610
BLACKROCK MUNIYIELD MICHIGAN QUALITY FUND, INC. · MIY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard Cavanagh
Director
Period of report
Sep 14, 2015
Accepted (ET)
Sep 15, 2015 · 9:43 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000890393
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Sep 14, 2015 | J | 93 | — | A | 193 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Effective as of September 14, 2015, BlackRock MuniYield Michigan Quality Fund II, Inc. (the "Target Fund") was reorganized into BlackRock MuniYield Michigan Quality 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 September 11, 2015, less the costs of the Reorganization. As of September 11, 2015, the Target Fund reported a NAV per share of $14.3224 and the Acquiring Fund reported a NAV per share of $15.2946. The conversion ratio for the Target Fund's common shares was 0.93643508. In the Reorganization, Richard Cavanagh received 93 common shares (and cash for fractional shares, if any) of the Acquiring Fund in exchange for his 100 common shares of the Target Fund.