JPMorgan Chase Bank, N.A. 4

What Happened
JPMorgan Chase Bank, N.A. (reported as a 10% owner) reported a disposition of 692 remarketable variable rate munifund term preferred shares (RVMTP Shares) of MFS High Income Municipal Trust (CXE). The filing shows the shares were reported as "disposed" on 2026-06-08 with no price or cash value (N/A). According to the footnote, the disposal occurred as part of a reorganization into MFS Municipal Income Trust (MFM): the 692 RVMTP shares indirectly beneficially owned by JPMorgan were exchanged for an equal number of RVMTP shares of the successor fund in a cashless transaction.

Key Details

• Transaction date: 2026-06-08; SEC Form 4 filed: 2026-06-09 (timely).
• Transaction code: J (other acquisition or disposition). Price and total value: N/A (cashless exchange).
• Shares reported disposed: 692 RVMTP shares.
• Post-transaction beneficial holdings: not reported in this filing.
• Footnote: Disposal was part of a fund reorganization into MFM; JPMorgan received equal shares of the new fund in a cashless swap.
• Insider type: 10% institutional owner (JPMorgan), not an individual executive — institutional reorganization activity, not a traditional open-market sale.

Context
This was a reorganization-driven, cashless swap of fund preferred shares rather than an open-market sale for cash. For retail investors, note this type of transaction reflects corporate restructuring (fund merger/reorg) and institutional position transfers, and does not necessarily indicate a buy/sell signal about the underlying securities.