0001193125-21-200373.txt : 20210625 0001193125-21-200373.hdr.sgml : 20210625 20210625161211 ACCESSION NUMBER: 0001193125-21-200373 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 17 FILED AS OF DATE: 20210625 DATE AS OF CHANGE: 20210625 EFFECTIVENESS DATE: 20210625 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK MUNICIPAL BOND FUND, INC. CENTRAL INDEX KEY: 0000225635 IRS NUMBER: 132896246 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-57354 FILM NUMBER: 211047824 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH MUNICIPAL BOND FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: ONE LIBERTY MUNICIPAL BOND FUND INC DATE OF NAME CHANGE: 19780622 0000225635 S000002335 BlackRock Short-Term Municipal Fund C000006122 Investor A1 C000006124 Investor C C000006125 Institutional C000038034 Investor A C000038035 Class K Shares 497 1 d175403d497.htm BLACKROCK SHORT-TERM MUNICIPAL FUND BlackRock Short-Term Municipal Fund
4972020-12-310000225635falseN-1A 0000225635 2020-10-28 2020-10-28 0000225635 bmbf:S000002335Member 2020-10-28 2020-10-28
BLACKROCK MUNICIPAL BOND FUND, INC.
BlackRock Short-Term Municipal Fund
(the “Fund”)
Supplement dated June 25, 2021 to the
Summary Prospectuses and Prospectuses of the Fund,
each dated October 28, 2020, as supplemented to date
Effective immediately, the following changes are made to the Fund’s Summary Prospectuses and Prospectuses, as applicable:
The first sentence of the third paragraph of the section of each Summary Prospectus entitled “Summary Prospectus — Key Facts About BlackRock Short-Term Municipal Fund — Principal Risks of Investing in the Fund” and the section of each Prospectus entitled “Fund Overview — Key Facts About BlackRock Short-Term Municipal Fund — Principal Investment Strategies of the Fund” is deleted in its entirety and replaced with the following:
The Fund will maintain a dollar weighted maturity of no more than three years.
The section of each Summary Prospectus entitled “Summary Prospectus — Key Facts About BlackRock Short-Term Municipal Fund — Portfolio Managers” and the section of each Prospectus entitled “Fund Overview — Key Facts About BlackRock Short-Term Municipal Fund — Portfolio Managers” is deleted in its entirety and replaced with the following:
Portfolio Managers
 
Name
  
Portfolio Manager of
the Fund Since
 
Title
Kevin A. Schiatta, CFA    2016   Director of BlackRock, Inc.
Kristi Manidis    2019   Director of BlackRock, Inc.
Christian Romaglino, CFA    2021   Director of BlackRock, Inc.
The first sentence of the third paragraph of the section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Details About the Funds — How Each Fund Invests — Short-Term Fund — Principal Investment Strategies” and the first sentence of the third paragraph of the section of the Prospectus for Investor A1 Shares entitled “Details About the Fund — How the Fund Invests — Principal Investment Strategies” are deleted in their entirety and replaced with the following:
The Fund will maintain a dollar weighted maturity of no more than three years.
The section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Details About the Funds — How Each Fund Invests — Short-Term Fund — About the Portfolio Management of the Short-Term Fund” is deleted in its entirety and replaced with the following:
 
ABOUT THE PORTFOLIO MANAGEMENT OF THE SHORT-TERM FUND
The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are the portfolio managers and are jointly and primarily responsible for the
day-to-day
management of the Fund. Please see “Management of the Funds — Portfolio Manager Information” for additional information about the portfolio management team.

The section of the Prospectus for Investor A1 Shares entitled “Details About the Fund — How the Fund Invests — About the Portfolio Management of the Fund” is deleted in its entirety and replaced with the following:
 
ABOUT THE PORTFOLIO MANAGEMENT OF THE FUND
The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are the portfolio managers and are jointly and primarily responsible for the
day-to-day
management of the Fund. Please see “Management of the Funds — Portfolio Manager Information” for additional information about the portfolio management team.
The section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Management of the Funds — BlackRock — Portfolio Manager Information — Short-Term Fund” is deleted in its entirety and replaced with the following:
Short-Term Fund
The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are jointly and primarily responsible for the
day-to-day
management of the Fund.
 
Portfolio Manager
  
Primary Role
  
Since
  
Title and Recent Biography
Kevin A. Schiatta, CFA    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2016    Director of BlackRock, Inc. since 2006.
Kristi Manidis    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2019    Director of BlackRock, Inc. since 2016; Vice President of BlackRock, Inc. from 2011 to 2015; Associate of BlackRock, Inc. from 2006 to 2010.
Christian Romaglino, CFA    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2021    Director at BlackRock, Inc. since 2017; portfolio manager at Brown Brothers Harriman from 2010 to 2017.
The section of the Prospectus for Investor A1 Shares entitled “Management of the Fund — BlackRock — Portfolio Manager Information” is deleted in its entirety and replaced with the following:
Portfolio Manager Information
Information regarding the portfolio managers of the Fund is set forth below. Further information regarding the portfolio managers, including other accounts managed, compensation, ownership of Fund shares, and possible conflicts of interest, is available in the Fund’s SAI.
 
- 2 -

The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are jointly and primarily responsible for the
day-to-day
management of the Fund.
 
Portfolio Manager
  
Primary Role
  
Since
  
Title and Recent Biography
Kevin A. Schiatta, CFA    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2016    Director of BlackRock, Inc. since 2006.
Kristi Manidis    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2019    Director of BlackRock, Inc. since 2016; Vice President of BlackRock, Inc. from 2011 to 2015; Associate of BlackRock, Inc. from 2006 to 2010.
Christian Romaglino, CFA    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2021    Director at BlackRock, Inc. since 2017; portfolio manager at Brown Brothers Harriman from 2010 to 2017.
Shareholders should retain this Supplement for future reference.
ALLPRO-MBFST-0621SUP
 
- 3 -
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margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: center;"><div style="font-weight:bold;display:inline;">BLACKROCK MUNICIPAL BOND FUND, INC. </div></div><div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center">BlackRock Short-Term Municipal Fund </div><div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center">(the “Fund”) </div><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: center;"><div style="font-weight:bold;display:inline;">Supplement dated June 25, 2021 to the </div></div><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: center;"><div style="font-weight:bold;display:inline;">Summary Prospectuses and Prospectuses of the Fund, </div></div><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: center;"><div style="font-weight:bold;display:inline;">each dated October 28, 2020, as supplemented to date </div></div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">Effective immediately, the following changes are made to the Fund’s Summary Prospectuses and Prospectuses, as applicable: </div></div><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">The first sentence of the third paragraph of the section of each Summary Prospectus entitled “Summary Prospectus — Key Facts About BlackRock Short-Term Municipal Fund — Principal Risks of Investing in the Fund” and the section of each Prospectus entitled “Fund Overview — Key Facts About BlackRock Short-Term Municipal Fund — Principal Investment Strategies of the Fund” is deleted in its entirety and replaced with the following: </div></div><div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund will maintain a dollar weighted maturity of no more than three years. </div><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">The section of each Summary Prospectus entitled “Summary Prospectus — Key Facts About BlackRock Short-Term Municipal Fund — Portfolio Managers” and the section of each Prospectus entitled “Fund Overview — Key Facts About BlackRock Short-Term Municipal Fund — Portfolio Managers” is deleted in its entirety and replaced with the following: </div></div><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Portfolio Managers </div></div></div></div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto"> <tr style="font-size: 0px;"> <td style="width:38%"/> <td style="vertical-align:bottom;width:1%"/> <td style="width:17%"/> <td style="vertical-align:bottom;width:4%"/> <td style="width:38%"/></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Name</div></div></td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom;text-align:center;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Portfolio Manager of<br/>the Fund Since</div></div></td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"> </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom;text-align:center;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Title</div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#d8d8d8"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Kevin A. Schiatta, CFA</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2016</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"> </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">Director of BlackRock, Inc.</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Kristi Manidis</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2019</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"> </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">Director of BlackRock, Inc.</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#d8d8d8"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Christian Romaglino, CFA</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2021</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"> </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">Director of BlackRock, Inc.</td></tr></table><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">The first sentence of the third paragraph of the section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Details About the Funds — How Each Fund Invests — Short-Term Fund — Principal Investment Strategies” and the first sentence of the third paragraph of the section of the Prospectus for Investor A1 Shares entitled “Details About the Fund — How the Fund Invests — Principal Investment Strategies” are deleted in their entirety and replaced with the following: </div></div><div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund will maintain a dollar weighted maturity of no more than three years. </div><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">The section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Details About the Funds — How Each Fund Invests — Short-Term Fund — About the Portfolio Management of the Short-Term Fund” is deleted in its entirety and replaced with the following: </div></div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto"> <tr style="font-size: 0px;"> <td style="width:97%"/></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#d8d8d8"> <td style="BORDER-LEFT:0.75pt solid #000000; BORDER-TOP:0.75pt solid #000000; BORDER-RIGHT:0.75pt solid #000000; padding-left:8pt; padding-right:2pt;vertical-align:bottom;text-align:center;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">ABOUT THE PORTFOLIO MANAGEMENT OF THE SHORT-TERM FUND</div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="BORDER-LEFT:0.75pt solid #000000; BORDER-RIGHT:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000; padding-left:8pt; padding-right:2pt;vertical-align:top">The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are the portfolio managers and are jointly and primarily responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund. Please see “Management of the Funds — Portfolio Manager Information” for additional information about the portfolio management team.</td></tr></table><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">The section of the Prospectus for Investor A1 Shares entitled “Details About the Fund — How the Fund Invests — About the Portfolio Management of the Fund” is deleted in its entirety and replaced with the following: </div></div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto"> <tr style="font-size: 0px;"> <td style="width:97%"/></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#d8d8d8"> <td style="BORDER-LEFT:0.75pt solid #000000; BORDER-TOP:0.75pt solid #000000; BORDER-RIGHT:0.75pt solid #000000; padding-left:8pt; padding-right:2pt;vertical-align:bottom;text-align:center;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">ABOUT THE PORTFOLIO MANAGEMENT OF THE FUND</div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="BORDER-LEFT:0.75pt solid #000000; BORDER-RIGHT:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000; padding-left:8pt; padding-right:2pt;vertical-align:top">The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are the portfolio managers and are jointly and primarily responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund. Please see “Management of the Funds — Portfolio Manager Information” for additional information about the portfolio management team.</td></tr></table><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">The section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Management of the Funds — BlackRock — Portfolio Manager Information — Short-Term Fund” is deleted in its entirety and replaced with the following: </div></div><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">Short-Term Fund </div></div><div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are jointly and primarily responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund. </div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto"> <tr style="font-size: 0px;"> <td style="width:17%"/> <td style="vertical-align:bottom;width:1%"/> <td style="width:36%"/> <td style="vertical-align:bottom;width:4%"/> <td/> <td style="vertical-align:bottom;width:1%"/> <td style="width:35%"/></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Portfolio Manager</div></div></td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Primary Role</div></div></td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom;text-align:center;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Since</div></div></td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Title and Recent Biography</div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#d8d8d8"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Kevin A. Schiatta, CFA</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2016</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Director of BlackRock, Inc. since 2006.</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Kristi Manidis</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2019</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Director of BlackRock, Inc. since 2016; Vice President of BlackRock, Inc. from 2011 to 2015; Associate of BlackRock, Inc. from 2006 to 2010.</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#d8d8d8"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Christian Romaglino, CFA</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2021</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Director at BlackRock, Inc. since 2017; portfolio manager at Brown Brothers Harriman from 2010 to 2017.</td></tr></table><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">The section of the Prospectus for Investor A1 Shares entitled “Management of the Fund — BlackRock — Portfolio Manager Information” is deleted in its entirety and replaced with the following: </div></div><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Portfolio Manager Information </div></div></div></div><div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information regarding the portfolio managers of the Fund is set forth below. Further information regarding the portfolio managers, including other accounts managed, compensation, ownership of Fund shares, and possible conflicts of interest, is available in the Fund’s SAI. </div><div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are jointly and primarily responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund. </div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto"> <tr style="font-size: 0px;"> <td style="width:17%"/> <td style="vertical-align:bottom;width:1%"/> <td style="width:36%"/> <td style="vertical-align:bottom;width:4%"/> <td/> <td style="vertical-align:bottom;width:1%"/> <td style="width:35%"/></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Portfolio Manager</div></div></td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Primary Role</div></div></td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom;text-align:center;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Since</div></div></td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Title and Recent Biography</div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#d8d8d8"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Kevin A. Schiatta, CFA</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2016</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Director of BlackRock, Inc. since 2006.</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Kristi Manidis</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2019</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Director of BlackRock, Inc. since 2016; Vice President of BlackRock, Inc. from 2011 to 2015; Associate of BlackRock, Inc. from 2006 to 2010.</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#d8d8d8"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Christian Romaglino, CFA</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2021</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Director at BlackRock, Inc. since 2017; portfolio manager at Brown Brothers Harriman from 2010 to 2017.</td></tr></table> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: center;"><div style="font-weight:bold;display:inline;">BLACKROCK MUNICIPAL BOND FUND, INC. </div></div><div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center">BlackRock Short-Term Municipal Fund </div><div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center">(the “Fund”) </div><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: center;"><div style="font-weight:bold;display:inline;">Supplement dated June 25, 2021 to the </div></div><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: center;"><div style="font-weight:bold;display:inline;">Summary Prospectuses and Prospectuses of the Fund, </div></div><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: center;"><div style="font-weight:bold;display:inline;">each dated October 28, 2020, as supplemented to date </div></div><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">Effective immediately, the following changes are made to the Fund’s Summary Prospectuses and Prospectuses, as applicable: </div></div><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">The first sentence of the third paragraph of the section of each Summary Prospectus entitled “Summary Prospectus — Key Facts About BlackRock Short-Term Municipal Fund — Principal Risks of Investing in the Fund” and the section of each Prospectus entitled “Fund Overview — Key Facts About BlackRock Short-Term Municipal Fund — Principal Investment Strategies of the Fund” is deleted in its entirety and replaced with the following: </div></div><div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund will maintain a dollar weighted maturity of no more than three years. </div><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">The section of each Summary Prospectus entitled “Summary Prospectus — Key Facts About BlackRock Short-Term Municipal Fund — Portfolio Managers” and the section of each Prospectus entitled “Fund Overview — Key Facts About BlackRock Short-Term Municipal Fund — Portfolio Managers” is deleted in its entirety and replaced with the following: </div></div><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Portfolio Managers </div></div></div></div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto"> <tr style="font-size: 0px;"> <td style="width:38%"/> <td style="vertical-align:bottom;width:1%"/> <td style="width:17%"/> <td style="vertical-align:bottom;width:4%"/> <td style="width:38%"/></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Name</div></div></td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom;text-align:center;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Portfolio Manager of<br/>the Fund Since</div></div></td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"> </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom;text-align:center;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Title</div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#d8d8d8"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Kevin A. Schiatta, CFA</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2016</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"> </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">Director of BlackRock, Inc.</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Kristi Manidis</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2019</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"> </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">Director of BlackRock, Inc.</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#d8d8d8"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Christian Romaglino, CFA</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2021</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"> </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">Director of BlackRock, Inc.</td></tr></table><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">The first sentence of the third paragraph of the section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Details About the Funds — How Each Fund Invests — Short-Term Fund — Principal Investment Strategies” and the first sentence of the third paragraph of the section of the Prospectus for Investor A1 Shares entitled “Details About the Fund — How the Fund Invests — Principal Investment Strategies” are deleted in their entirety and replaced with the following: </div></div><div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund will maintain a dollar weighted maturity of no more than three years. </div><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">The section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Details About the Funds — How Each Fund Invests — Short-Term Fund — About the Portfolio Management of the Short-Term Fund” is deleted in its entirety and replaced with the following: </div></div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto"> <tr style="font-size: 0px;"> <td style="width:97%"/></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#d8d8d8"> <td style="BORDER-LEFT:0.75pt solid #000000; BORDER-TOP:0.75pt solid #000000; BORDER-RIGHT:0.75pt solid #000000; padding-left:8pt; padding-right:2pt;vertical-align:bottom;text-align:center;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">ABOUT THE PORTFOLIO MANAGEMENT OF THE SHORT-TERM FUND</div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="BORDER-LEFT:0.75pt solid #000000; BORDER-RIGHT:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000; padding-left:8pt; padding-right:2pt;vertical-align:top">The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are the portfolio managers and are jointly and primarily responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund. Please see “Management of the Funds — Portfolio Manager Information” for additional information about the portfolio management team.</td></tr></table><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">The section of the Prospectus for Investor A1 Shares entitled “Details About the Fund — How the Fund Invests — About the Portfolio Management of the Fund” is deleted in its entirety and replaced with the following: </div></div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto"> <tr style="font-size: 0px;"> <td style="width:97%"/></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#d8d8d8"> <td style="BORDER-LEFT:0.75pt solid #000000; BORDER-TOP:0.75pt solid #000000; BORDER-RIGHT:0.75pt solid #000000; padding-left:8pt; padding-right:2pt;vertical-align:bottom;text-align:center;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">ABOUT THE PORTFOLIO MANAGEMENT OF THE FUND</div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="BORDER-LEFT:0.75pt solid #000000; BORDER-RIGHT:0.75pt solid #000000; BORDER-BOTTOM:0.75pt solid #000000; padding-left:8pt; padding-right:2pt;vertical-align:top">The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are the portfolio managers and are jointly and primarily responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund. Please see “Management of the Funds — Portfolio Manager Information” for additional information about the portfolio management team.</td></tr></table><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">The section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Management of the Funds — BlackRock — Portfolio Manager Information — Short-Term Fund” is deleted in its entirety and replaced with the following: </div></div><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">Short-Term Fund </div></div><div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are jointly and primarily responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund. </div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto"> <tr style="font-size: 0px;"> <td style="width:17%"/> <td style="vertical-align:bottom;width:1%"/> <td style="width:36%"/> <td style="vertical-align:bottom;width:4%"/> <td/> <td style="vertical-align:bottom;width:1%"/> <td style="width:35%"/></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Portfolio Manager</div></div></td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Primary Role</div></div></td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom;text-align:center;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Since</div></div></td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Title and Recent Biography</div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#d8d8d8"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Kevin A. Schiatta, CFA</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2016</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Director of BlackRock, Inc. since 2006.</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Kristi Manidis</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2019</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Director of BlackRock, Inc. since 2016; Vice President of BlackRock, Inc. from 2011 to 2015; Associate of BlackRock, Inc. from 2006 to 2010.</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#d8d8d8"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Christian Romaglino, CFA</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2021</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Director at BlackRock, Inc. since 2017; portfolio manager at Brown Brothers Harriman from 2010 to 2017.</td></tr></table><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">The section of the Prospectus for Investor A1 Shares entitled “Management of the Fund — BlackRock — Portfolio Manager Information” is deleted in its entirety and replaced with the following: </div></div><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Portfolio Manager Information </div></div></div></div><div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information regarding the portfolio managers of the Fund is set forth below. Further information regarding the portfolio managers, including other accounts managed, compensation, ownership of Fund shares, and possible conflicts of interest, is available in the Fund’s SAI. </div><div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are jointly and primarily responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund. </div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto"> <tr style="font-size: 0px;"> <td style="width:17%"/> <td style="vertical-align:bottom;width:1%"/> <td style="width:36%"/> <td style="vertical-align:bottom;width:4%"/> <td/> <td style="vertical-align:bottom;width:1%"/> <td style="width:35%"/></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Portfolio Manager</div></div></td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Primary Role</div></div></td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom;text-align:center;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Since</div></div></td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Title and Recent Biography</div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#d8d8d8"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Kevin A. Schiatta, CFA</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2016</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Director of BlackRock, Inc. since 2006.</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Kristi Manidis</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2019</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Director of BlackRock, Inc. since 2016; Vice President of BlackRock, Inc. from 2011 to 2015; Associate of BlackRock, Inc. from 2006 to 2010.</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#d8d8d8"> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Christian Romaglino, CFA</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Responsible for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">day-to-day</div></div> management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top;text-align:center;">2021</td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #000000;vertical-align:top">Director at BlackRock, Inc. since 2017; portfolio manager at Brown Brothers Harriman from 2010 to 2017.</td></tr></table> BLACKROCK MUNICIPAL BOND FUND, INC. 2021-06-25 2021-06-25 2020-10-28 XML 8 R1.htm IDEA: XBRL DOCUMENT v3.21.2
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Document Type dei_DocumentType 497
Document Period End Date dei_DocumentPeriodEndDate Dec. 31, 2020
Registrant Name dei_EntityRegistrantName BLACKROCK MUNICIPAL BOND FUND, INC.
Entity Central Index Key dei_EntityCentralIndexKey 0000225635
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Jun. 25, 2021
Document Effective Date dei_DocumentEffectiveDate Jun. 25, 2021
Prospectus Date rr_ProspectusDate Oct. 28, 2020
Entity Inv Company Type dei_EntityInvCompanyType N-1A
XML 9 R2.htm IDEA: XBRL DOCUMENT v3.21.2
Oct. 28, 2020
BLACKROCK MUNICIPAL BOND FUND, INC.
BlackRock Short-Term Municipal Fund
(the “Fund”)
Supplement dated June 25, 2021 to the
Summary Prospectuses and Prospectuses of the Fund,
each dated October 28, 2020, as supplemented to date
Effective immediately, the following changes are made to the Fund’s Summary Prospectuses and Prospectuses, as applicable:
The first sentence of the third paragraph of the section of each Summary Prospectus entitled “Summary Prospectus — Key Facts About BlackRock Short-Term Municipal Fund — Principal Risks of Investing in the Fund” and the section of each Prospectus entitled “Fund Overview — Key Facts About BlackRock Short-Term Municipal Fund — Principal Investment Strategies of the Fund” is deleted in its entirety and replaced with the following:
The Fund will maintain a dollar weighted maturity of no more than three years.
The section of each Summary Prospectus entitled “Summary Prospectus — Key Facts About BlackRock Short-Term Municipal Fund — Portfolio Managers” and the section of each Prospectus entitled “Fund Overview — Key Facts About BlackRock Short-Term Municipal Fund — Portfolio Managers” is deleted in its entirety and replaced with the following:
Portfolio Managers
 
Name
  
Portfolio Manager of
the Fund Since
 
Title
Kevin A. Schiatta, CFA    2016   Director of BlackRock, Inc.
Kristi Manidis    2019   Director of BlackRock, Inc.
Christian Romaglino, CFA    2021   Director of BlackRock, Inc.
The first sentence of the third paragraph of the section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Details About the Funds — How Each Fund Invests — Short-Term Fund — Principal Investment Strategies” and the first sentence of the third paragraph of the section of the Prospectus for Investor A1 Shares entitled “Details About the Fund — How the Fund Invests — Principal Investment Strategies” are deleted in their entirety and replaced with the following:
The Fund will maintain a dollar weighted maturity of no more than three years.
The section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Details About the Funds — How Each Fund Invests — Short-Term Fund — About the Portfolio Management of the Short-Term Fund” is deleted in its entirety and replaced with the following:
 
ABOUT THE PORTFOLIO MANAGEMENT OF THE SHORT-TERM FUND
The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are the portfolio managers and are jointly and primarily responsible for the
day-to-day
management of the Fund. Please see “Management of the Funds — Portfolio Manager Information” for additional information about the portfolio management team.
The section of the Prospectus for Investor A1 Shares entitled “Details About the Fund — How the Fund Invests — About the Portfolio Management of the Fund” is deleted in its entirety and replaced with the following:
 
ABOUT THE PORTFOLIO MANAGEMENT OF THE FUND
The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are the portfolio managers and are jointly and primarily responsible for the
day-to-day
management of the Fund. Please see “Management of the Funds — Portfolio Manager Information” for additional information about the portfolio management team.
The section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Management of the Funds — BlackRock — Portfolio Manager Information — Short-Term Fund” is deleted in its entirety and replaced with the following:
Short-Term Fund
The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are jointly and primarily responsible for the
day-to-day
management of the Fund.
 
Portfolio Manager
  
Primary Role
  
Since
  
Title and Recent Biography
Kevin A. Schiatta, CFA    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2016    Director of BlackRock, Inc. since 2006.
Kristi Manidis    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2019    Director of BlackRock, Inc. since 2016; Vice President of BlackRock, Inc. from 2011 to 2015; Associate of BlackRock, Inc. from 2006 to 2010.
Christian Romaglino, CFA    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2021    Director at BlackRock, Inc. since 2017; portfolio manager at Brown Brothers Harriman from 2010 to 2017.
The section of the Prospectus for Investor A1 Shares entitled “Management of the Fund — BlackRock — Portfolio Manager Information” is deleted in its entirety and replaced with the following:
Portfolio Manager Information
Information regarding the portfolio managers of the Fund is set forth below. Further information regarding the portfolio managers, including other accounts managed, compensation, ownership of Fund shares, and possible conflicts of interest, is available in the Fund’s SAI.
The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are jointly and primarily responsible for the
day-to-day
management of the Fund.
 
Portfolio Manager
  
Primary Role
  
Since
  
Title and Recent Biography
Kevin A. Schiatta, CFA    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2016    Director of BlackRock, Inc. since 2006.
Kristi Manidis    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2019    Director of BlackRock, Inc. since 2016; Vice President of BlackRock, Inc. from 2011 to 2015; Associate of BlackRock, Inc. from 2006 to 2010.
Christian Romaglino, CFA    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2021    Director at BlackRock, Inc. since 2017; portfolio manager at Brown Brothers Harriman from 2010 to 2017.
XML 10 R3.htm IDEA: XBRL DOCUMENT v3.21.2
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BLACKROCK MUNICIPAL BOND FUND, INC.
BlackRock Short-Term Municipal Fund
(the “Fund”)
Supplement dated June 25, 2021 to the
Summary Prospectuses and Prospectuses of the Fund,
each dated October 28, 2020, as supplemented to date
Effective immediately, the following changes are made to the Fund’s Summary Prospectuses and Prospectuses, as applicable:
The first sentence of the third paragraph of the section of each Summary Prospectus entitled “Summary Prospectus — Key Facts About BlackRock Short-Term Municipal Fund — Principal Risks of Investing in the Fund” and the section of each Prospectus entitled “Fund Overview — Key Facts About BlackRock Short-Term Municipal Fund — Principal Investment Strategies of the Fund” is deleted in its entirety and replaced with the following:
The Fund will maintain a dollar weighted maturity of no more than three years.
The section of each Summary Prospectus entitled “Summary Prospectus — Key Facts About BlackRock Short-Term Municipal Fund — Portfolio Managers” and the section of each Prospectus entitled “Fund Overview — Key Facts About BlackRock Short-Term Municipal Fund — Portfolio Managers” is deleted in its entirety and replaced with the following:
Portfolio Managers
 
Name
  
Portfolio Manager of
the Fund Since
 
Title
Kevin A. Schiatta, CFA    2016   Director of BlackRock, Inc.
Kristi Manidis    2019   Director of BlackRock, Inc.
Christian Romaglino, CFA    2021   Director of BlackRock, Inc.
The first sentence of the third paragraph of the section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Details About the Funds — How Each Fund Invests — Short-Term Fund — Principal Investment Strategies” and the first sentence of the third paragraph of the section of the Prospectus for Investor A1 Shares entitled “Details About the Fund — How the Fund Invests — Principal Investment Strategies” are deleted in their entirety and replaced with the following:
The Fund will maintain a dollar weighted maturity of no more than three years.
The section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Details About the Funds — How Each Fund Invests — Short-Term Fund — About the Portfolio Management of the Short-Term Fund” is deleted in its entirety and replaced with the following:
 
ABOUT THE PORTFOLIO MANAGEMENT OF THE SHORT-TERM FUND
The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are the portfolio managers and are jointly and primarily responsible for the
day-to-day
management of the Fund. Please see “Management of the Funds — Portfolio Manager Information” for additional information about the portfolio management team.
The section of the Prospectus for Investor A1 Shares entitled “Details About the Fund — How the Fund Invests — About the Portfolio Management of the Fund” is deleted in its entirety and replaced with the following:
 
ABOUT THE PORTFOLIO MANAGEMENT OF THE FUND
The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are the portfolio managers and are jointly and primarily responsible for the
day-to-day
management of the Fund. Please see “Management of the Funds — Portfolio Manager Information” for additional information about the portfolio management team.
The section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Management of the Funds — BlackRock — Portfolio Manager Information — Short-Term Fund” is deleted in its entirety and replaced with the following:
Short-Term Fund
The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are jointly and primarily responsible for the
day-to-day
management of the Fund.
 
Portfolio Manager
  
Primary Role
  
Since
  
Title and Recent Biography
Kevin A. Schiatta, CFA    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2016    Director of BlackRock, Inc. since 2006.
Kristi Manidis    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2019    Director of BlackRock, Inc. since 2016; Vice President of BlackRock, Inc. from 2011 to 2015; Associate of BlackRock, Inc. from 2006 to 2010.
Christian Romaglino, CFA    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2021    Director at BlackRock, Inc. since 2017; portfolio manager at Brown Brothers Harriman from 2010 to 2017.
The section of the Prospectus for Investor A1 Shares entitled “Management of the Fund — BlackRock — Portfolio Manager Information” is deleted in its entirety and replaced with the following:
Portfolio Manager Information
Information regarding the portfolio managers of the Fund is set forth below. Further information regarding the portfolio managers, including other accounts managed, compensation, ownership of Fund shares, and possible conflicts of interest, is available in the Fund’s SAI.
The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are jointly and primarily responsible for the
day-to-day
management of the Fund.
 
Portfolio Manager
  
Primary Role
  
Since
  
Title and Recent Biography
Kevin A. Schiatta, CFA    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2016    Director of BlackRock, Inc. since 2006.
Kristi Manidis    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2019    Director of BlackRock, Inc. since 2016; Vice President of BlackRock, Inc. from 2011 to 2015; Associate of BlackRock, Inc. from 2006 to 2010.
Christian Romaglino, CFA    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2021    Director at BlackRock, Inc. since 2017; portfolio manager at Brown Brothers Harriman from 2010 to 2017.
BlackRock Short-Term Municipal Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
BLACKROCK MUNICIPAL BOND FUND, INC.
BlackRock Short-Term Municipal Fund
(the “Fund”)
Supplement dated June 25, 2021 to the
Summary Prospectuses and Prospectuses of the Fund,
each dated October 28, 2020, as supplemented to date
Effective immediately, the following changes are made to the Fund’s Summary Prospectuses and Prospectuses, as applicable:
The first sentence of the third paragraph of the section of each Summary Prospectus entitled “Summary Prospectus — Key Facts About BlackRock Short-Term Municipal Fund — Principal Risks of Investing in the Fund” and the section of each Prospectus entitled “Fund Overview — Key Facts About BlackRock Short-Term Municipal Fund — Principal Investment Strategies of the Fund” is deleted in its entirety and replaced with the following:
The Fund will maintain a dollar weighted maturity of no more than three years.
The section of each Summary Prospectus entitled “Summary Prospectus — Key Facts About BlackRock Short-Term Municipal Fund — Portfolio Managers” and the section of each Prospectus entitled “Fund Overview — Key Facts About BlackRock Short-Term Municipal Fund — Portfolio Managers” is deleted in its entirety and replaced with the following:
Portfolio Managers
 
Name
  
Portfolio Manager of
the Fund Since
 
Title
Kevin A. Schiatta, CFA    2016   Director of BlackRock, Inc.
Kristi Manidis    2019   Director of BlackRock, Inc.
Christian Romaglino, CFA    2021   Director of BlackRock, Inc.
The first sentence of the third paragraph of the section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Details About the Funds — How Each Fund Invests — Short-Term Fund — Principal Investment Strategies” and the first sentence of the third paragraph of the section of the Prospectus for Investor A1 Shares entitled “Details About the Fund — How the Fund Invests — Principal Investment Strategies” are deleted in their entirety and replaced with the following:
The Fund will maintain a dollar weighted maturity of no more than three years.
The section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Details About the Funds — How Each Fund Invests — Short-Term Fund — About the Portfolio Management of the Short-Term Fund” is deleted in its entirety and replaced with the following:
 
ABOUT THE PORTFOLIO MANAGEMENT OF THE SHORT-TERM FUND
The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are the portfolio managers and are jointly and primarily responsible for the
day-to-day
management of the Fund. Please see “Management of the Funds — Portfolio Manager Information” for additional information about the portfolio management team.
The section of the Prospectus for Investor A1 Shares entitled “Details About the Fund — How the Fund Invests — About the Portfolio Management of the Fund” is deleted in its entirety and replaced with the following:
 
ABOUT THE PORTFOLIO MANAGEMENT OF THE FUND
The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are the portfolio managers and are jointly and primarily responsible for the
day-to-day
management of the Fund. Please see “Management of the Funds — Portfolio Manager Information” for additional information about the portfolio management team.
The section of the Prospectuses for Investor A, Investor C, Institutional and Class K Shares entitled “Management of the Funds — BlackRock — Portfolio Manager Information — Short-Term Fund” is deleted in its entirety and replaced with the following:
Short-Term Fund
The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are jointly and primarily responsible for the
day-to-day
management of the Fund.
 
Portfolio Manager
  
Primary Role
  
Since
  
Title and Recent Biography
Kevin A. Schiatta, CFA    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2016    Director of BlackRock, Inc. since 2006.
Kristi Manidis    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2019    Director of BlackRock, Inc. since 2016; Vice President of BlackRock, Inc. from 2011 to 2015; Associate of BlackRock, Inc. from 2006 to 2010.
Christian Romaglino, CFA    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2021    Director at BlackRock, Inc. since 2017; portfolio manager at Brown Brothers Harriman from 2010 to 2017.
The section of the Prospectus for Investor A1 Shares entitled “Management of the Fund — BlackRock — Portfolio Manager Information” is deleted in its entirety and replaced with the following:
Portfolio Manager Information
Information regarding the portfolio managers of the Fund is set forth below. Further information regarding the portfolio managers, including other accounts managed, compensation, ownership of Fund shares, and possible conflicts of interest, is available in the Fund’s SAI.
The Fund is managed by a team of financial professionals. Kevin Schiatta, CFA, Kristi Manidis and Christian Romaglino, CFA are jointly and primarily responsible for the
day-to-day
management of the Fund.
 
Portfolio Manager
  
Primary Role
  
Since
  
Title and Recent Biography
Kevin A. Schiatta, CFA    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2016    Director of BlackRock, Inc. since 2006.
Kristi Manidis    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2019    Director of BlackRock, Inc. since 2016; Vice President of BlackRock, Inc. from 2011 to 2015; Associate of BlackRock, Inc. from 2006 to 2010.
Christian Romaglino, CFA    Responsible for the
day-to-day
management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund.
   2021    Director at BlackRock, Inc. since 2017; portfolio manager at Brown Brothers Harriman from 2010 to 2017.
XML 11 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName BLACKROCK MUNICIPAL BOND FUND, INC.
Prospectus Date rr_ProspectusDate Oct. 28, 2020
Document Creation Date dei_DocumentCreationDate Jun. 25, 2021
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