Form 4: RMMZ Portfolio Manager Sells Minor Stock Holding

Robert A. DiMella, a Portfolio Manager for RiverNorth Managed Duration Municipal Income Fund II, Inc., reported the sale of a de minimis amount of common stock.

Summary

• Robert A. DiMella, a Portfolio Manager for RiverNorth Managed Duration Municipal Income Fund II, Inc. (RMMZ), reported an insider transaction.
• The transaction involved the direct sale of 0.0923 shares of RMMZ Common Stock.
• The sale occurred on November 25, 2025, at a price of $14.50 per share.
• Following this reported transaction, DiMella beneficially owns 0 shares directly.
• The transaction was made pursuant to a Rule 10b5-1(c) pre-planned contract or instruction.

Sentiment

Score: 5

Explanation: The transaction is a de minimis sale by an insider under a pre-planned 10b5-1 arrangement, which is generally considered neutral. The extremely small volume of shares sold prevents any strong positive or negative interpretation.

Positives

• The transaction was executed under a Rule 10b5-1(c) plan, indicating it was pre-scheduled and not an immediate reaction to market events.
• The amount of shares sold (0.0923) is de minimis, suggesting no significant change in conviction or financial need.

Negatives

• A sale by a portfolio manager, even a small one, could be interpreted by some as a slight negative signal, though the amount is negligible.

Risks

• No specific risks are mentioned in this transactional filing.

Future Outlook

NA

Industry Context

Insider transaction reports (Form 4s) are routine disclosures for publicly traded companies. This specific transaction is notable for its extremely small size, which typically does not carry significant market implications. The use of a 10b5-1 plan is a common practice for insiders to manage their stock holdings in compliance with insider trading rules.

Related Party Transactions

• The transaction involves an insider (Portfolio Manager Robert A. DiMella) selling shares of the issuer (RiverNorth Managed Duration Municipal Income Fund II, Inc.).

Stakeholder Impact

• Shareholders: Minimal to no impact due to the extremely small number of shares sold.
• Employees: No direct impact.
• Customers: No direct impact.
• Suppliers: No direct impact.
• Creditors: No direct impact.

Key Dates

Keywords

RiverNorth Managed Duration Municipal Income Fund II, RMMZ, Form 4, Insider Transaction, Stock Sale, Robert A. DiMella, Portfolio Manager, 10b5-1 Plan