Form 4: Wells Fargo Reports PIMCO Fund Share Exchange

Wells Fargo and its subsidiary reported the cashless exchange of 292 preferred shares of PIMCO California Municipal Income Fund II due to a reorganization into PIMCO California Municipal Income Fund.

Summary

• Wells Fargo & Company and its wholly-owned subsidiary, Wells Fargo Municipal Capital Strategies, LLC, reported a transaction involving PIMCO California Municipal Income Fund II (PCK).
• On August 1, 2025, 292 Remarketable Variable Rate MuniFund Term Preferred Shares (RVMTP Shares) of PCK were disposed of.
• This disposition was a cashless exchange for an equal number of RVMTP Shares of PIMCO California Municipal Income Fund (PCQ).
• The transaction occurred as part of the reorganization of PCK into PCQ.
• Wells Fargo Municipal Capital Strategies, LLC was the beneficial owner of the disposed shares.
• Following the transaction, Wells Fargo Municipal Capital Strategies, LLC beneficially owns 0 direct shares of PCK.

Sentiment

Score: 5

Explanation: The filing is a routine Form 4 reporting a cashless share exchange due to a corporate reorganization, indicating a neutral impact on sentiment as it's an expected administrative event.

Related Party Transactions

• Wells Fargo Municipal Capital Strategies, LLC, a wholly-owned subsidiary of Wells Fargo & Company, was the beneficial owner of the shares involved in the exchange, making this a transaction between related entities.

Stakeholder Impact

• Minimal direct impact on shareholders of PCK or PCQ, as the transaction is a cashless exchange of preferred shares due to a reorganization, maintaining equivalent holdings in the new entity.
• No direct impact on employees, customers, suppliers, or creditors mentioned.

Key Dates

Keywords

Wells Fargo, PIMCO, PCK, PCQ, SEC Form 4, Preferred Shares, Reorganization, Share Exchange, Municipal Income Fund, Investment Fund