Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 382

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 382
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 whom are Independent Board Members, and John M. Perlowski, who serves as an interested Board Member. The principal responsibilities of the Executive Committee include, without limitation: (i) acting on routine matters between
meetings of the Board; (ii) acting on such matters as may require urgent action between meetings of the Board; and (iii) exercising such other authority as may from time to time be delegated to the Executive Committee by the Board. Each
Board has adopted a written charter for the Board’s Executive Committee.

The Boards currently oversee the
Funds’ usage of leverage, including the Funds’ incurrence, refinancing and maintenance of leverage and, to the extent necessary or appropriate, authorize or approve the execution of documentation in respect thereto. The Executive
Committee has authority to make any such authorizations or approvals that are required between regular meetings of the Boards.

S-27

Each Audit Committee, Governance Committee, Compliance Committee, Performance Oversight Committee, Discount Committee, Securities Lending Committee and Executive Committee met the following number of times for each Fund’s most recent fiscal year:

| Ticker               
 MVT                  |     | Fiscal Year End | July 31, 2025 |     | Number of 
 Audit     
 Committee 
 Meetings  | 9 |     | Number of  
 Governance 
 Committee  
 Meetings   | 5 |     | Number of  
 Compliance 
 Committee  
 Meetings   | 4 |     | Number of   
 Performance 
 Oversight   
 Committee   
 Meetings    | 4 |     | Discount  
 Committee | 4 |     | Number of  
 Securities 
 Lending    
 Committee  
 Meetings   | 2 |     | Number of 
 Executive 
 Committee 
 Meetings  | 0 |
|:---------------------|:----|:----------------|:--------------|:----|:----------|--:|:----|:-----------|--:|:----|:-----------|--:|:----|:------------|--:|:----|:----------|--:|:----|:-----------|--:|:----|:----------|--:|
| MIY                  |     |                 | July 31, 2025 |     |           | 9 |     |            | 5 |     |            | 4 |     |             | 4 |     |           | 4 |     |            | 2 |     |           | 0 |
| MVF                  |     |                 | July 31, 2025 |     |           | 9 |     |            | 5