Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 70

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 70
---
 the preferred shares for each Fund for the twelve-month period ended January 31, 2025 were as follows:

| Fund                 |     | Preferred Shares |     | Rate  |
| MVT                  |     | VMTP Shares      |     | 4.69% |
| MIY                  |     | VRDP Shares      |     | 4.22% |
| MVF                  |     | VMTP Shares      |     | 4.69% |
| Acquiring Fund (MYI) |     | VRDP Shares      |     | 4.22% |

The Board of each Fund has authorized the redemption of up to 67% of the Fund’s currently outstanding VRDP or VMTP Shares, as applicable, on one or more occasions between April 1, 2025 and October 1, 2025. Any such redemption is not related to the Reorganization or contingent on shareholder approval of the Reorganization. The timing and amount of any redemption of a Fund’s currently outstanding VRDP Shares would depend on a number of factors, including, among others, the desired mix of leverage from preferred shares versus TOBs, yield levels and borrowing costs. Description of the VRDP Shares of the Acquiring Fund and MIY The Acquiring Fund and MIY VRDP Shares each have the benefit of an unconditional demand feature pursuant to a purchase agreement provided by Toronto-Dominion Bank acting as liquidity provider to ensure full and timely repayment of the liquidation preference amount plus any accumulated and unpaid dividends to holders upon the occurrence of certain events (the “Liquidity Facility”). The Acquiring Fund and MIY each entered into fee agreements with the liquidity provider (each, a “Fee Agreement”) in connection with the applicable Liquidity Facility that requires a monthly liquidity fee payable to the liquidity provider. The Fee Agreements between each of the Acquiring Fund and MIY and the liquidity provider are scheduled to expire, unless renewed or terminated in advance, on July 5, 2026. Each Liquidity Facility requires the liquidity provider to purchase all VRDP Shares tendered for sale that were not successfully remarketed. The applicable Fund is required to redeem its VRDP Shares owned by the liquidity provider after six months of continuous, unsuccessful remarketing. Upon the occurrence of the first unsuccessful remarketing, the Fund is required to segregate liquid assets to fund the redemption. In the event the VRDP Shares Purchase Agreement (the “Purchase Agreement”) for the Acquiring Fund or MIY is not renewed, and the applicable