Form 4: Wells Fargo Disposes of Remarketable Variable Rate MuniFund Term Preferred Shares in PIMCO Municipal Income Fund III

Wells Fargo & Company, through its subsidiary Wells Fargo Municipal Capital Strategies, LLC, disposed of 343 Remarketable Variable Rate MuniFund Term Preferred Shares (RVMTP Shares) of PIMCO Municipal Income Fund III due to a redemption by the issuer.

Summary

• Wells Fargo & Company, along with its subsidiary Wells Fargo Municipal Capital Strategies, LLC, filed a Form 4 regarding changes in beneficial ownership of PIMCO Municipal Income Fund III shares.
• On June 12, 2024, Wells Fargo Municipal Capital Strategies, LLC disposed of 343 Remarketable Variable Rate MuniFund Term Preferred Shares (RVMTP Shares) due to a redemption by the issuer.
• The redemption price was $100,120.9290 per share, which includes a liquidation preference of $100,000.00 per share and accrued dividends of $120.9290 per share.
• Following the transaction, Wells Fargo still indirectly owns 239 shares through its subsidiary.
• Wells Fargo and its subsidiary have a joint filing agreement and declare that their filing should not be construed as acting as a group for acquiring, holding, or disposing of securities of the issuer.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders and significant shareholders, providing transparency to the market.

Stakeholder Impact

• The disposal of shares may have a minor impact on shareholders, but the overall effect is likely minimal given the nature of the transaction and the size of Wells Fargo's remaining holdings.

Key Dates