JPMorgan Chase Bank, N.A. 4

What Happened
JPMorgan Chase Bank, N.A. (reported as a 10% owner) reported a disposition of 330 remarketable variable rate munifund term preferred (RVMTP) shares of MFS High Yield Municipal Trust (CMU). The transaction was reported on Form 4 for activity dated 2026-06-08 and filed 2026-06-09. No cash price is reported — the shares were exchanged in a cashless reorganization into MFS Municipal Income Trust (MFM), so this is not an open-market sale.

Key Details

• Transaction date: 2026-06-08; Form 4 filed: 2026-06-09 (timely).
• Transaction code: J (other acquisition/disposition).
• Shares disposed: 330 RVMTP shares; price: N/A (cashless exchange).
• Shares owned after transaction: not specified in the filing.
• Footnote: The 330 RVMTP shares indirectly beneficially owned by JPMCB were exchanged for an equal number of RVMTP shares of MFM in a cashless transaction (reorganization).
• Note: JPMorgan is a 10% institutional holder — this is institutional reorganization activity, not an executive trade.

Context
This was a corporate reorganization exchange rather than a sale for cash, so it should not be interpreted as a signal of buying or selling pressure by the institution. Transaction code J and the N/A price reflect a non‑cash exchange of shares into the successor trust (MFM).