DEF 14A: John Hancock Preferred Income Fund Announces Annual Shareholder Meeting and Trustee Election

John Hancock Preferred Income Fund is holding its annual shareholder meeting on February 18, 2025, to vote on the election of five trustees.

Summary

• John Hancock Preferred Income Fund is holding its annual shareholder meeting on February 18, 2025, at 2:00 p.m. Eastern time in Boston.
• Shareholders are being asked to vote on the election of five trustees to the board.
• Two trustees, William K. Bacic and Thomas R. Wright, are nominated for a 2-year term ending in 2027.
• Three trustees, Dean C. Garfield, Deborah C. Jackson, and Andrew G. Arnott, are nominated for a 3-year term ending in 2028.
• The board of trustees recommends voting in favor of all five nominees.
• Shareholders of record as of November 25, 2024, are eligible to vote.
• The proxy statement and voting card were first mailed to shareholders on or about December 27, 2024.
• Shareholders can vote online, by phone, or by mail.

Sentiment

Score: 7

Explanation: The document is neutral in tone, focusing on procedural matters. It is a routine communication, and there is no indication of any positive or negative sentiment.

Positives

• The document provides clear instructions for shareholders to vote by proxy.
• The board of trustees is recommending a vote for all nominees.
• The document includes detailed information about each nominee's background and qualifications.
• The document provides multiple ways for shareholders to vote, including online, by phone, and by mail.
• The document includes contact information for shareholders who have questions.

Risks

• There is a risk that not enough shareholders will vote, which could require additional mailings at the fund's expense.
• There is a risk that a nominee may not be available for election, requiring the proxies to vote for a substitute nominee.

Future Outlook

The document does not contain any specific forward-looking statements about the fund's performance or future strategy, focusing instead on the procedural aspects of the annual meeting and trustee election.

Management Comments

• Kristie M. Feinberg, President of John Hancock Investments, encourages shareholders to vote by proxy if they cannot attend the meeting in person.
• The Board of Trustees recommends that you vote in favor of the election of each of the five (5) Nominees.

Industry Context

This announcement is a standard part of the corporate governance process for investment funds, ensuring that shareholders have a voice in the oversight of their investments. The election of trustees is a routine but important event for the fund.

Comparison to Industry Standards

• The process of electing trustees and holding an annual shareholder meeting is standard practice for registered investment companies.
• The use of a proxy statement and multiple voting methods (online, phone, mail) is consistent with industry best practices for shareholder engagement.
• The disclosure of trustee backgrounds and qualifications is in line with regulatory requirements and industry norms for transparency.

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 have the opportunity to vote on the election of trustees, which directly impacts the governance of the fund.
• The election of trustees ensures that the fund is overseen by individuals who are qualified and committed to acting in the best interests of shareholders.

Next Steps

• Shareholders are encouraged to vote on the election of trustees.
• The annual shareholder meeting will be held on February 18, 2025.

Key Dates

Keywords

trustees, shareholder meeting, proxy vote, election, John Hancock, investment fund, board of directors