BANK OF AMERICA CORP /DE/ 4

What Happened

• Bank of America Corporation (reported as a 10% owner) disclosed that 170 MuniFund Term Preferred Shares, Series A, beneficially owned by its wholly owned subsidiary Banc of America Preferred Funding Corporation (BAPFC), were disposed of on March 25, 2026. The shares were redeemed by the issuer; the Form 4 lists the price as N/A because the redemption paid the liquidation preference plus accumulated but unpaid dividends (see issuer notice filed Mar 20, 2026).

Key Details

• Transaction date: March 25, 2026 (reported on Form 4 filed March 27, 2026).
• Transaction code: J (other acquisition or disposition) — redemption by the issuer.
• Shares disposed: 170 MuniFund Term Preferred Shares, Series A.
• Price: N/A on Form 4; footnote states redemption paid liquidation preference plus accumulated unpaid dividends.
• Shares owned after transaction: the 170 MTP shares held by BAPFC were redeemed (reduced to zero for that holding).
• Filing notes: Statement is jointly filed by Bank of America Corporation and PFC (footnote F2); filing includes a standard group-disclaimer (footnote F3).
• This is an institutional/10% owner transaction, not an executive insider trade.

Context

• Redemption means the issuer repurchased the preferred shares at the stated liquidation preference plus accrued dividends — this is a return of capital for the holder rather than an open-market sale.
• For retail investors: institutional redemptions like this are routine corporate actions and do not by themselves indicate management sentiment about the company's stock. Check the issuer’s March 20, 2026 redemption notice (N-23C-2) for any details on the redemption price and terms.