Reit Todd 4
4 · abrdn National Municipal Income Fund · Filed Jul 14, 2026
Research Summary
AI-generated summary of this filing
abrdn National Municipal Income Fund Director Reit Todd Converts Shares
What Happened
- Director Reit Todd reported an "other acquisition or disposition" (code J) on July 10, 2026: 1,298 shares of abrdn National Municipal Income Fund (VFL) were disposed at $11.31 per share for a reported value of $14,682. This was not an open-market sale but part of a fund reorganization—his 1,298 Target Fund shares were converted into 2,434 common shares of the Aberdeen Municipal Income Fund.
Key Details
- Transaction date and reported price/value: July 10, 2026 — 1,298 shares @ $11.31 = $14,682.
- Shares received after transaction: 2,434 common shares of the Acquiring Fund (Aberdeen Municipal Income Fund).
- Reorganization specifics (from footnote): Target NAV $11.3116, Acquiring Fund NAV $6.0322, conversion ratio 1.87521869. Cash was paid for any fractional shares.
- Filing: Form 4 filed July 14, 2026; filing is within the two-business-day window (timely).
- Transaction code: J = other acquisition/disposition; here it reflects a corporate reorganization/conversion rather than a market sale.
Context
- This was an administrative conversion resulting from a fund reorganization, not a discretionary buy or sell by the director. Such conversions reflect corporate actions (exchange of shares at a set ratio/NAV) and do not, by themselves, signal insider sentiment about the stock.
Insider Transaction Report
Form 4Exit
Reit Todd
Director
Transactions
- Other
Common Stock
[F1]2026-07-10$11.31/sh−1,298$14,682→ 0 total
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