Form 4: Bank of America Corp Disposes of Pioneer Municipal High Income Fund Shares Following Redemption

Bank of America Corp, through its subsidiary Banc of America Preferred Funding Corporation, disposed of Variable Rate MuniFund Term Preferred Shares of Pioneer Municipal High Income Fund due to a redemption by the issuer.

Summary

• Bank of America Corporation (BAC), along with its subsidiary Banc of America Preferred Funding Corporation (PFC), jointly filed a Form 4 regarding changes in beneficial ownership of Pioneer Municipal High Income Fund, Inc. (MHI).
• On February 29, 2024, PFC disposed of 635 Variable Rate MuniFund Term Preferred Shares (VMTP Shares) of MHI due to a redemption by the issuer.
• The redemption price was $100,443.2858 per share, which includes a liquidation preference of $100,000.00 per share and accrued dividends of $443.2858 per share.
• Following the transaction, PFC holds 500 shares indirectly.
• BAC holds an indirect interest in the securities through its ownership of PFC.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to a share disposal due to redemption, indicating a neutral sentiment.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders (owning more than 10% of a company's shares) trade in their company's stock; this filing indicates a change in Bank of America's holdings in Pioneer Municipal High Income Fund.

Key Dates