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Bank of America (BAC) reports offsetting 407-share MUNEX trades and profit remittance

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Bank of America Corporation and its subsidiary Merrill Lynch reported offsetting trades in BlackRock Municipal Credit Alpha Portfolio, Inc. common stock. An indirect holding bought 407 shares on May 15, 2026 at $12.20 per share, then sold 407 shares on May 14, 2026 at $12.33 per share, leaving no shares reported afterward.

The reporting persons state they hold only an indirect interest through Merrill Lynch and disclaim beneficial ownership except for any pecuniary interest. They also state that any profit potentially recoverable under Section 16(b) of the Exchange Act will be remitted to the issuer.

Positive

  • None.

Negative

  • None.
Insider BANK OF AMERICA CORP /DE/, MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
Role 10% Owner | 10% Owner
Bought 407 shs ($5K)
Sold 407 shs ($5K)
Type Security Shares Price Value
Purchase Common Stock 407 $12.20 $5K
Sale Common Stock 407 $12.33 $5K
Holdings After Transaction: Common Stock — 407 shares (Indirect, See Footnotes)
Footnotes (3)
  1. F1. This statement is jointly filed by Bank of America Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") (collectively, the "Reporting Persons"). Bank of America Corporation holds an indirect interest in the securities listed in this Report by virtue of its 100% ownership of its subsidiary Merrill Lynch. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Securities Exchange Act of 1934 (the "Exchange Act"), or for any other purpose.
  2. F2. Each Reporting Person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the Exchange Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.
  3. F3. Without conceding its status as a greater than 10% beneficial owner or that the reported transactions are subject to disclosure under Section 16(a) of the Exchange Act or short-swing profit recovery under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that the Reporting Persons were greater than 10% beneficial owners and the transactions were subject to Section 16(b) will be remitted to the Issuer.
Shares purchased 407 shares Open-market purchase of common stock on May 15, 2026
Purchase price $12.20/share Price for 407-share open-market purchase on May 15, 2026
Shares sold 407 shares Open-market sale of common stock on May 14, 2026
Sale price $12.33/share Price for 407-share open-market sale on May 14, 2026
Net shares after trades 0 shares Total shares reported following the sale transaction
beneficial ownership financial
"Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein"
Section 16(b) regulatory
"the reported transactions are subject to disclosure under Section 16(a) of the Exchange Act or short-swing profit recovery under Section 16(b) of the Exchange Act"
A federal rule that requires company insiders—like officers, directors and large shareholders—to return any profits made from buying and selling the company’s stock within a six-month window. It matters to investors because it discourages short-term trades that could exploit non-public information and helps protect outside shareholders by creating a simple, enforceable way to recover unfair gains, much like a rule stopping someone from flipping a limited-edition item for quick profit after getting early access.
Exchange Act regulatory
"for purposes of Securities Exchange Act of 1934 (the "Exchange Act"), or for any other purpose"
A federal law that sets rules for trading securities on public exchanges, requiring companies and market participants to register, disclose regular financial information, and follow standards that promote honest, orderly markets. For investors, it matters because it creates transparency and legal protections—like stopping insider trading and ensuring timely company disclosures—so you can evaluate risks and rely on consistent rules much as players rely on a referee to keep a game fair.
greater than 10% beneficial owner regulatory
"Without conceding its status as a greater than 10% beneficial owner or that the reported transactions are subject to disclosure under Section 16(a)"

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What insider transactions did Bank of America report in MUNEX?
Bank of America Corporation and Merrill Lynch reported one open-market purchase and one open-market sale of BlackRock Municipal Credit Alpha Portfolio common stock, each for 407 shares. The trades offset each other, resulting in no shares reported as held after the transactions.

How many MUNEX shares did Bank of America buy and sell, and at what prices?
An indirect holding bought 407 BlackRock Municipal Credit Alpha Portfolio shares at $12.20 per share on May 15, 2026. It sold 407 shares at $12.33 per share on May 14, 2026, leaving no shares reported as owned afterward.

Does Bank of America directly own the MUNEX shares in this Form 4 filing?
The filing states Bank of America holds an indirect interest through its 100% ownership of Merrill Lynch. Both reporting persons expressly disclaim beneficial ownership of the reported securities, except to the extent of any pecuniary interest they may have in those shares.

What does the Form 4 say about potential short-swing profit in MUNEX?
The reporting persons state that, without conceding greater than 10% beneficial owner status, any profit potentially recoverable under Section 16(b) from these transactions will be remitted to the issuer, BlackRock Municipal Credit Alpha Portfolio, Inc., if such recovery is applicable.

Are Bank of America and Merrill Lynch acting as a group regarding MUNEX stock?
The filing states each reporting person declares that nothing in the statement should be construed as an admission that they are acting as a partnership, syndicate, or other group, or as a member of any group, with respect to the issuer or its securities.
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
BANK OF AMERICA CORP /DE/
(Last)(First)(Middle)
BANK OF AMERICA CORPORATE CENTER
100 N TRYON ST
(Street)
CHARLOTTE NORTH CAROLINA 28255
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
BlackRock Municipal Credit Alpha Portfolio, Inc. [ MUNEX ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
DirectorX10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/14/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
XForm filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock05/14/2026S407D$12.330ISee Footnotes(1)(2)(3)
Common Stock05/15/2026P407A$12.2407ISee Footnotes(1)(2)(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
1. Name and Address of Reporting Person*
BANK OF AMERICA CORP /DE/
(Last)(First)(Middle)
BANK OF AMERICA CORPORATE CENTER
100 N TRYON ST
(Street)
CHARLOTTE NORTH CAROLINA 28255
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
(Last)(First)(Middle)
ONE BRYANT PARK
(Street)
NEW YORK NEW YORK 10036
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
Explanation of Responses:
1. This statement is jointly filed by Bank of America Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") (collectively, the "Reporting Persons"). Bank of America Corporation holds an indirect interest in the securities listed in this Report by virtue of its 100% ownership of its subsidiary Merrill Lynch. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Securities Exchange Act of 1934 (the "Exchange Act"), or for any other purpose.
2. Each Reporting Person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the Exchange Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.
3. Without conceding its status as a greater than 10% beneficial owner or that the reported transactions are subject to disclosure under Section 16(a) of the Exchange Act or short-swing profit recovery under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that the Reporting Persons were greater than 10% beneficial owners and the transactions were subject to Section 16(b) will be remitted to the Issuer.
BANK OF AMERICA CORP /DE/ By: Its: Authorized Signatory Monica Yako05/18/2026
MERRILL LYNCH, PIERCE, FENNER & SMITH INC. By: Its: Authorized Signatory Monica Yako05/18/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR