CSQ 10% Owner MetLife Investment Redeems 600,000 Shares

What Happened MetLife Investment Management, LLC, reported as a 10% owner, disposed of 600,000 Series D Mandatory Redeemable Preferred Shares of Calamos Strategic Total Return Fund (CSQ) via redemption by the issuer. The shares were redeemed at $25.00 per share for a total redemption value of $15,000,000. The filing reports the disposition as transaction code J (other acquisition or disposition).

Key Details

• Transaction date: 2026-08-24; Form 4 filed: 2026-08-26 (filed timely).
• Price/amount: 600,000 shares × $25.00 = $15,000,000.
• Security type: Series D Mandatory Redeemable Preferred Shares (redeemed in full).
• Post-transaction holdings: not specified in the filing.
• Footnotes: (F1) Redeemed at original $25.00 purchase price plus accrued and unpaid dividends; dividends are exempt from Section 16 under Rule 16a-9. (F2) Shares were held directly by a client for whom MetLife serves as investment manager. (F3) MetLife disclaims beneficial ownership except to the extent of its pecuniary interest.
• Transaction code: J (other acquisition/disposition); reported as a disposition (not an open-market sale).

Context This is an institutional redemption of preferred shares by the issuer, not an executive insider sale. Because the redemption occurred at the original purchase price and dividends are treated as exempt under Rule 16a-9, the event is largely procedural rather than a directional trading signal for retail investors.