BANK OF AMERICA CORP /DE/ 4

What Happened

• Bank of America Corporation (jointly filing with Bank of America, N.A. (BANA), a wholly owned subsidiary) reported the disposition of 614 Auction Preferred Shares (APS) of Eaton Vance Senior Floating‑Rate Trust (EFR).
• The 614 APS (Series A, B, C, D; CUSIPs 27828Q204 / 27828Q303 / 27828Q402 / 27828Q501) were redeemed by the issuer on May 29, 2026 under a previously announced tender offer. Redemption price was 98% of the $25,000 liquidation preference ($24,500 per share) plus any unpaid APS dividends — resulting in aggregate proceeds of approximately $15,043,000 (plus accrued dividends).

Key Details

• Transaction date: 2026-05-29; Form 4 filed: 2026-06-02 (period of report: 2026-05-29). The filing does not indicate timeliness status.
• Transaction type/code: "Other acquisition or disposition (J)" in the filing; footnote clarifies these were issuer redemptions under the tender offer.
• Shares disposed: 614 APS (broken out on the filing as 101, 194, 127, and 192 shares). Price per share: $24,500 (98% of $25,000) plus accrued dividends. Approximate total proceeds: $15.04M (before/plus any accrued dividends).
• Ownership after transaction: the filing lists the dispositions; it does not specify remaining APS holdings for Bank of America/BANA in the Form 4.
• Filing parties: joint statement by Bank of America Corporation and BANA; BANA beneficially owned the APS and is a wholly owned subsidiary of Bank of America.

Context

• These were institutional redemptions of high‑denomination auction preferred shares (each with a $25,000 liquidation preference), executed via the issuer’s tender offer — not open‑market sales by an executive.
• As a 10% owner and not an individual officer/director, this transaction reflects institutional redemption activity rather than a personal trade signal.
• The tender offer that enabled the redemption was disclosed by Eaton Vance Senior Floating‑Rate Trust (tender offer filed April 4, 2026 and amended June 1, 2026).