Form 4: Bank of America Corp Reports Redemption of Federated Hermes Premier Municipal Income Fund Shares

Bank of America Corp reports the disposal of 425 Variable Rate Municipal Term Preferred Shares due to redemption by Federated Hermes Premier Municipal Income Fund.

Summary

• Bank of America Corp, through its subsidiary Banc of America Preferred Funding Corporation (PFC), disposed of 425 Variable Rate Municipal Term Preferred Shares (VMTP Shares) of Federated Hermes Premier Municipal Income Fund on October 17, 2024.
• The shares were redeemed by the issuer, Federated Hermes Premier Municipal Income Fund, at a redemption price of the liquidation preference and accumulated but unpaid dividends.
• Following the transaction, Bank of America Corporation still indirectly holds 1,347 VMTP Shares.
• Bank of America Corporation and PFC are jointly filing this statement and expect to file another Form 4 after analyzing additional trading activity.
• The filing does not constitute an admission of acting as a group for the purpose of acquiring, holding, or disposing of securities of the Issuer.

Sentiment

Score: 5

Explanation: The document reports a routine transaction (redemption of shares) and doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Future Outlook

Bank of America Corporation expects to file another Form 4 after analyzing additional trading activity.

Industry Context

This filing reflects routine transactions related to holdings in municipal income funds, which are common investments for large financial institutions like Bank of America.

Stakeholder Impact

• The redemption of shares may have a minor impact on the fund's asset base and potentially on its dividend payouts to shareholders.

Next Steps

• Bank of America Corporation will analyze additional trading activity and file another Form 4 as needed.

Key Dates