Richard M. Rieder - Nov 13, 2023 Form 4 Insider Report for BlackRock Multi-Sector Opportunities Trust II (N/A)

Role: Portfolio Manager
Signature: /s/ Gladys Chang as Attorney-in-Fact
Stock symbol: N/A
Transactions as of: Nov 13, 2023
Transactions value $: $0
Form type: 4
Date filed: 11/15/2023, 07:40 PM
Previous filing: Nov 13, 2023
Next filing: Jan 9, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	N/A	Common Stock	Other		-3.56K	-100%		0	Nov 13, 2023	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	N/A	Phantom Shares	Other		-5.52K	-100%		0	Nov 13, 2023	Common Stock	5.52K		Direct	F2, F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Effective as of November 13, 2023, BlackRock Multi-Sector Opportunities Trust II (the "Target Fund") was reorganized into BlackRock Strategic Income Opportunities Portfolio (the "Acquiring Fund"), series of BlackRock Funds V. In the Reorganization, shareholders of the Target Fund received Investor A shares of the Acquiring Fund having a value equal to the aggregate NAV of the Target Fund shares surrendered as determined at the close of business on November 10, 2023, less the costs of the Reorganization. As of November 10, 2023, the Target Fund reported a NAV per share of $67.9207 and the Acquiring Fund reported a NAV per Investor A share of $9.0518. The conversion ratio for the Target Fund's shares was 7.5035573. In the Reorganization, Richard Rieder received 26,724.797 Investor A shares of the Acquiring Fund in exchange for his 3,561.617 shares of the Target Fund.
F2	A phantom share is the economic equivalent of one share of common stock and, subject to the applicable vesting requirements, becomes payable in cash.
F3	Phantom shares vest in equal installments on each of the first three anniversaries of the award. As previously reported on Form 4 dated February 2, 2021, Richard Rieder was previously granted 13,256.6915 phantom shares of the Target Fund on January 29, 2021, payable in cash upon vesting. As of November 10, 2023, Mr. Rieder held 5523.8122 phantom shares of the Target Fund, which were granted on January 29, 2021 (with one annual vesting installment remaining), as reported on the Form 4 dated February 2, 2021. The annual vesting schedule applicable to Mr. Rieder's Target Fund phantom shares was preserved with respect to the phantom shares of the Acquiring Fund that Mr. Rieder received in the Reorganization.
F4	In the Reorganization, Mr. Rieder received phantom shares of the Acquiring Fund having a value equal to the aggregate NAV of the Target Fund phantom shares he held as of the close of business on November 10, 2023, calculated using a conversion ratio equal to the NAV per share of the Target Fund relative to the NAV per Investor K share of the Acquiring Fund as of the close of business on November 10, 2023. As of November 10, 2023, the Target Fund reported a NAV per share of $67.9207 and the Acquiring Fund reported a NAV per Investor K share of $9.06. The conversion ratio for the Target Fund's phantom shares was 7.496766. In the Reorganization, Mr. Rieder received 41,410.7276 phantom shares of the Acquiring Fund in exchange for his 5523.8122 phantom shares of the Target Fund.