WELLS FARGO & COMPANY/MN 4
4 · Nuveen Quality Municipal Income Fund · Filed Jun 12, 2026
Research Summary
AI-generated summary of this filing
Nuveen (NAD) 10% Owner Wells Fargo Redeems 750 Preferred Shares
What Happened
Wells Fargo & Company, reporting as a 10% owner through its subsidiary Wells Fargo Municipal Capital Strategies, LLC, reported the disposition of 750 munifund preferred shares of Nuveen Quality Municipal Income Fund (NAD). The shares were redeemed by the issuer on June 10, 2026 at a redemption price of $100,008.835788 per share (includes $100,000 liquidation preference + $8.835788 accrued dividends), for a total of approximately $75.01 million. This was an issuer redemption (coded as an "other acquisition or disposition" — J), not an open-market sale.
Key Details
- Transaction date: 2026-06-10 (Form 4 filed 2026-06-12). Form 4 filing appears timely (typically due within two business days).
- Price: $100,008.835788 per share (liquidation preference $100,000 + $8.835788 accrued dividends).
- Shares disposed: 750 munifund preferred shares. Total proceeds ≈ $75,006,626.84.
- Shares owned after transaction: Not disclosed in the filing.
- Reporting persons: Wells Fargo & Company and Wells Fargo Municipal Capital Strategies, LLC (joint filing). Wells Fargo’s interest is indirect via its wholly owned subsidiary.
- Notes: Disposal resulted from issuer redemption (footnote F1). The filing clarifies joint filing status and disclaims group/adverse interpretations (footnotes F2–F3). Exhibits attached include a Joint Filing Agreement and Joint Filer Information.
Context
This was an institutional redemption of preferred munifund shares by the issuer, not an executive insider sale. Redemptions return the liquidation preference plus accrued dividends to the holder; they do not necessarily signal management sentiment about the common stock. For retail investors, purchases are often more informative about insider confidence; this transaction is a disposal via issuer action.
Insider Transaction Report
- Other
MuniFund Preferred Shares
[F1][F2][F3]2026-06-10−750→ 2,238 total(indirect: By Subsidiary)
Footnotes (3)
- [F1]The 750 munifund preferred shares reported as disposed of in Table I represent munifund preferred shares of the Issuer (the "MFP Shares") that were beneficially owned by Wells Fargo Municipal Capital Strategies, LLC ("Capital Strategies"). The MFP Shares were disposed of as a result of a redemption by the Issuer for a redemption price of $100,008.835788 per share (which includes a liquidation preference of $100,000.00 per share and accrued dividends of $8.835788 per share).
- [F2]This statement is jointly filed by Wells Fargo & Company ("Wells Fargo") and Capital Strategies. Wells Fargo holds an indirect interest in the securities listed in Table I by virtue of its indirect ownership of its wholly owned subsidiary Capital Strategies.
- [F3]Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.