DEF 14A: John Hancock Income Securities Trust and John Hancock Investors Trust Announce Annual Shareholder Meeting and Trustee Election

John Hancock Income Securities Trust and John Hancock Investors Trust are holding their annual shareholder meeting on February 18, 2025, to elect twelve trustees.

Summary

• John Hancock Income Securities Trust and John Hancock Investors Trust are holding a joint annual shareholder meeting on February 18, 2025, in Boston.
• The primary purpose of the meeting is to elect twelve trustees to oversee the funds.
• Shareholders of record as of November 25, 2024, are eligible to vote.
• The board recommends voting for all twelve nominees, who currently serve as trustees.
• The proxy statement and voting instructions were first mailed to shareholders on or about December 27, 2024.
• Shareholders can vote online, by phone, or by mail.
• The meeting will be held at 2:00 p.m. Eastern time at 200 Berkeley Street, Boston, Massachusetts.
• The funds are managed by John Hancock Investment Management LLC, with Manulife Investment Management (US) LLC as subadvisor.

Sentiment

Score: 7

Explanation: The document is neutral in tone, focusing on procedural matters. The emphasis on shareholder participation and independent oversight is positive, but there are no specific financial performance details to drive a higher sentiment score.

Positives

• The majority of the trustee nominees are independent, ensuring oversight of the funds.
• Multiple voting options are available to shareholders, making it convenient to participate.
• The board is actively encouraging shareholder participation to avoid additional mailing costs.
• The proxy statement includes detailed information about each nominee's background.
• The funds have a clear process for shareholders to communicate with the trustees.

Negatives

• The document does not explicitly mention any negative aspects of the funds' performance or management.
• The document is primarily focused on the procedural aspects of the annual meeting and trustee election.

Risks

• There is a risk that not enough shareholders will vote, potentially requiring additional mailings and expenses.
• The document does not discuss any specific risks related to the funds' investments or market conditions.
• There is a risk that a nominee may not be available for election, requiring a substitute nominee.

Future Outlook

The document does not contain any specific forward-looking statements about the funds' future performance or strategy, focusing instead on the upcoming shareholder meeting and trustee election.

Management Comments

• Kristie M. Feinberg, President of John Hancock Investments, encourages shareholders to vote promptly.
• The Board of Trustees recommends that shareholders vote in favor of the election of each of the twelve nominees.

Industry Context

This announcement is typical for investment trusts, which are required to hold annual meetings to elect trustees and conduct other business. The focus on independent trustees is a common practice to ensure proper oversight and governance.

Comparison to Industry Standards

• The structure of the board with a majority of independent trustees is consistent with industry best practices for investment companies.
• The use of a proxy statement and multiple voting methods is standard for shareholder meetings.
• The disclosure of trustee backgrounds and compensation is in line with regulatory requirements.
• The process for shareholder communication and nomination of trustees is similar to other publicly traded investment funds.
• The involvement of an independent auditor and an audit committee is a common practice to ensure financial integrity.

Management Changes

Legal Proceedings

• There are no material pending legal proceedings to which any Nominee, Trustee or affiliated person of such Nominee or Trustee is a party adverse to the funds or any of their affiliated persons or has a material interest adverse to the funds or any of their affiliated persons.

Stakeholder Impact

• Shareholders will have the opportunity to elect trustees who will oversee the funds on their behalf.
• The election of independent trustees aims to protect shareholder interests.
• The meeting provides a platform for shareholders to engage with the funds' governance.

Next Steps

• Shareholders are encouraged to vote on the trustee election.
• The annual shareholder meeting will be held on February 18, 2025.
• The newly elected trustees will oversee the funds until their successors are elected.

Key Dates

Keywords

trustees, shareholder meeting, proxy statement, election, John Hancock, investment management, independent trustees, voting, annual meeting, funds