DEFA14A: Nuveen Preferred & Income Term Fund Adjourns Shareholder Meeting to June 24 for Increased Voting

The Nuveen Preferred & Income Term Fund has adjourned its Annual Meeting of Shareholders to June 24, 2024, to allow more time for shareholders to vote on important proposals.

Summary

• The Nuveen Preferred & Income Term Fund (JPI) has adjourned its Annual Meeting of Shareholders, originally scheduled for April 12, 2024, to June 24, 2024.
• The adjournment is intended to provide shareholders with additional time to vote on the proposals.
• The Board of Trustees recommends that shareholders vote in favor of the proposals.
• The meeting will be held virtually via live webcast.
• Shareholders are encouraged to vote online, by telephone, or by mail using the provided proxy card and control number.
• Computershare Fund Services is available at 1-(888) 815-5825 to assist with any questions or voting issues.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While the adjournment isn't ideal, the communication focuses on encouraging shareholder participation and providing assistance.

Positives

• The adjournment provides shareholders with more time to participate in the voting process.
• Multiple voting options are available for shareholder convenience.
• Assistance is available for shareholders who have questions or need help with voting.

Negatives

• The adjournment indicates that initial shareholder voting participation was insufficient.

Risks

• If enough shareholders fail to cast their votes, the fund may incur additional solicitation costs.
• Low shareholder participation could prevent the fund from holding its meeting or voting on the proposals.

Future Outlook

The fund aims to achieve sufficient shareholder participation to proceed with the vote on the proposals at the reconvened meeting.

Management Comments

• The Board of Trustees recommends that you vote for the proposals.
• Your vote is very important.
• Voting now helps minimize proxy costs, avoids unnecessary communications and eliminates phone calls to shareholders.

Industry Context

This announcement is typical for investment funds seeking shareholder approval on various governance and operational matters. Adjournments are common when initial voting rates are low.

Stakeholder Impact

• Shareholders are impacted by the delay and are encouraged to participate in the voting process.
• The fund may incur additional costs due to the adjournment and continued solicitation efforts.

Next Steps

• Shareholders are encouraged to vote on the proposals before the reconvened meeting on June 24, 2024.
• The fund will continue outreach to shareholders to encourage voting.

Key Dates

Keywords

shareholder meeting, proxy vote, Nuveen Preferred & Income Term Fund, JPI, adjournment, proposals, voting, proxy