Form 4: MMD Portfolio Manager Sells Shares Under 10b5-1 Plan

Robert A. DiMella, a Portfolio Manager for NYLI MacKay DefinedTerm Muni Opportunities Fund, sold 0.7151 shares of beneficial interest at $14.92 per share under a pre-arranged trading plan.

Summary

• Robert A. DiMella, a Portfolio Manager for NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD), reported a transaction.
• The transaction involved the sale of 0.7151 shares of beneficial interest.
• The sale occurred on November 25, 2025, at a price of $14.92 per share.
• Following this transaction, Robert A. DiMella beneficially owns 0 shares.
• The transaction was made pursuant to a Rule 10b5-1(c) pre-arranged trading plan.

Sentiment

Score: 5

Explanation: The filing reports a routine insider sale of a very small number of shares by a portfolio manager under a Rule 10b5-1 trading plan, which is generally considered a neutral event for market sentiment.

Positives

• NA

Negatives

• NA

Risks

• NA

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Minimal impact on shareholders due to the small number of shares sold and the routine nature of the transaction under a 10b5-1 plan.

Key Dates

Recommendation

The filing details a routine, pre-scheduled sale of a de minimis number of shares by a portfolio manager. This type of transaction, especially when executed under a Rule 10b5-1 plan, is generally not considered a significant indicator of future company performance or a reason to alter an investment thesis. Therefore, a 'hold' recommendation is appropriate as this specific filing does not provide new information to warrant a change in investment strategy.

Keywords

MMD, NYLI MacKay DefinedTerm Muni Opportunities Fund, Form 4, Insider Trading, Beneficial Ownership, Robert A. DiMella, Portfolio Manager, 10b5-1 Plan, Share Sale