Why an MKV can hold more than one movie track
MKV uses the Matroska container, which can hold video, multiple audio tracks, subtitles and attachments. A recording or archive may therefore include more than the picture and sound you hear by default. MP4 is another container, and this page writes a specific H.264/AAC version of it. The purpose here is a straightforward playback copy. It is not a way to preserve every element of a multi-track source in a new package.
How the primary tracks are converted
The engine selects the primary video and primary audio from the file. H.264 video and AAC audio can be copied without encoding those tracks again. If either selected track uses another supported codec, that track is re-encoded to the output codec instead. The decision is made separately for picture and sound. There is no soundtrack selector on this page, so check the language in the preview before using the MP4 for a review or handoff.
What happens to subtitles and attachments
Embedded subtitle tracks, additional audio and attached files are left out of the result. Text already burned into the video image remains part of the picture, but a separate selectable subtitle track is not burned in by this converter. Keep the original MKV if you need alternate languages or attached fonts later. If the review copy needs captions, add them in an editing workflow afterward and verify their placement against the converted video.
Why a small file can still fail
The 128 MB and five-minute caps are only the first checks. A file also needs readable video data, valid dimensions and codecs that the browser can handle. Unsupported primary audio stops the conversion instead of producing an unexpectedly silent clip. Changing only the container does not make unsupported compressed data readable. When necessary, use a desktop converter to prepare H.264/AAC first. Compare the output size too, because a conversion is not an automatic compression pass.