Reit Todd 4

4 · ABERDEEN MUNICIPAL INCOME FUND · Filed Jul 14, 2026

AI-generated summary of this filing

Updated Jul 14, 2026

MFM Director Reit Todd Receives 2,434 Shares in Reorganization

What Happened

Reit Todd, a director of Aberdeen Municipal Income Fund (ticker: MFM), received 2,434 common shares on July 10, 2026 as part of a fund reorganization. The shares were valued at $6.03 each, for a total reported value of $14,682.
The shares were issued in exchange for his 1,298 shares of abrdn National Municipal Income Fund; this was an in-kind conversion under the reorganization, not an open-market purchase.

Key Details

Transaction date and filing: July 10, 2026 (Form 4 filed July 14, 2026 — filed timely).
Transaction code: J (other acquisition/disposition — here, a reorganization exchange).
Price/value: $6.03 per share; total reported value $14,682.
Shares surrendered and received: 1,298 shares of the target fund converted into 2,434 shares of the acquiring fund.
Shares owned after transaction: 2,434 common shares.
Footnote highlights: conversion ratio was 1.87521869; NAVs at close on July 10 were $11.3116 (target fund) and $6.0322 (acquiring fund). Cash was paid for any fractional shares.

Context

This transaction reflects a corporate fund reorganization (abrdn National Municipal Income Fund into Aberdeen Municipal Income Fund) and is an administrative exchange of shares based on NAV and conversion ratio. Such conversions are routine and represent an ownership transfer, not necessarily a new investment decision or market-timing signal.

Form 4

Period: 2026-07-10

Director

Transactions

Footnotes (1)

[F1]Effective as of July 10, 2026, abrdn National Municipal Income Fund (the "Target Fund") was reorganized into the Aberdeen Municipal Income Fund. (the "Acquiring Fund," and such reorganization, the "Reorganization"). In the Reorganization, common shareholders of the Target Fund received common shares of the Acquiring Fund having a value equal to the aggregate NAV of the Target Fund common shares surrendered as determined at the close of business on July 10, 2026, less the costs of the Reorganization (although cash was distributed for any fractional shares). As of July 10, 2026, the Target Fund reported a NAV per share of $11.3116 and the Acquiring Fund reported a NAV per share of $6.0322. The conversion ratio for the Target Fund's common shares was 1.87521869. In the Reorganization, the Reporting Person received 2,434 common shares of the Acquiring Fund in exchange for their 1,298 common shares of the Target Fund.

Signature

/s/ Robert Stieger, by POA from Reporting Person|2026-07-14

1 file