Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 270

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 270
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 resignation of a director; and (iii) provide that all vacancies on the board of directors may be filled only by the affirmative vote of a majority of the
remaining directors, in office, even if the remaining directors do not constitute a quorum. Any Director elected to fill such vacancy shall hold office for the remainder of the unexpired term and until his or her successor is elected and qualified.
A board of directors may implement all or any of these provisions without stockholder approval. A corporation may be prohibited by its charter or by resolution of its board of directors from electing any of the provisions of the statute. MYI is not
prohibited from implementing any or all of the statute and, pursuant to MYI’s Bylaws and charter, MYI has elected to be subject to such provisions of the statute such that MYI’s Board is classified and all vacancies on the Board
resulting from an increase in the size of the Board or the death, resignation or removal of a Director, may be filled only by the affirmative vote of a majority of the remaining Directors, even if the remaining Directors do not constitute a quorum.
That election does not limit the power of MYI to confer on the holders of a class or series of Preferred Stock the right to elect one or more Directors pursuant to a provision in its charter.

Certain Provisions in the Charter and Bylaws of MVF

MVF’s charter includes provisions that could have the effect of limiting the ability of other entities or persons to acquire control of
the Fund or to change the composition of its Board and could have the effect of depriving common shareholders of an opportunity to sell their shares at a premium over prevailing market prices by discouraging a third-party from seeking to obtain
control of MVF. A Director elected by the holders of MVF’s preferred shares may only be removed from office for cause and then by the vote of the holders of at least 66 2/3% of MVF’s preferred shares entitled to vote in an election to
fill that directorship. MVF’s charter provides the holders of MVF’s outstanding preferred shares, including VRDP Shares, voting together as a class, to the exclusion of the holders of all other securities and classes of shares of MVF,
the right to elect two Board Members of MVF at all times and, under certain circumstances, to elect such number of additional directors in order to entitle such holders of MVF’s outstanding preferred shares to elect the majority of the Board.

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In addition, the charter requires