Form 4: Bank of America Corp Disposes of Variable Rate Demand Preferred Shares in BlackRock MuniAssets Fund

Bank of America Corporation, through its subsidiary Banc of America Preferred Funding Corporation, disposed of 1,750 variable rate demand preferred shares in BlackRock MuniAssets Fund due to an automatic tender.

Summary

• Bank of America Corporation, along with its subsidiary Banc of America Preferred Funding Corporation (PFC), filed a Form 4 regarding changes in beneficial ownership of BlackRock MuniAssets Fund, Inc. shares.
• On April 11, 2024, PFC disposed of 1,750 variable rate demand preferred shares (VRDP Shares) due to an automatic tender.
• The VRDP Shares were tendered for $100,000 per share.
• Bank of America Corporation held an indirect interest in these securities through its wholly-owned subsidiary, PFC.
• Both Bank of America Corporation and PFC are analyzing additional trading activity and expect to file another Form 4 soon.
• The filing indicates that neither party admits to acting as a group for the purpose of acquiring, holding, or disposing of securities of the Issuer.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing indicating a transaction. It doesn't inherently convey positive or negative sentiment.

Future Outlook

Bank of America Corporation and Banc of America Preferred Funding Corporation are analyzing additional trading activity and expect to file another Form 4 as promptly as reasonably practicable once that analysis is complete.

Industry Context

Form 4 filings are standard disclosures required by the SEC when there are changes in beneficial ownership of a company's securities by insiders or significant shareholders. This filing indicates a change in Bank of America's holdings in BlackRock MuniAssets Fund.

Stakeholder Impact

• The disposal of shares may have a minor impact on the share price of BlackRock MuniAssets Fund, but the effect is likely to be minimal given the size of the transaction relative to the overall market capitalization.

Next Steps

• Bank of America Corporation and Banc of America Preferred Funding Corporation will file another Form 4 after analyzing additional trading activity.

Key Dates