Nuveen (NAD) — Wells Fargo Redeems 500 Munifund Preferred Shares

What Happened Wells Fargo & Company (reported as a 10% owner) — through its subsidiary Wells Fargo Municipal Capital Strategies, LLC — recorded the disposition of 500 munifund preferred shares of Nuveen Quality Municipal Income Fund (NAD). The Table I entry shows price as N/A, but a footnote clarifies the 500 shares were redeemed by the issuer at $100,218.68 per share (liquidation preference of $100,000.00 plus accrued dividends of $218.677), for a total redemption proceeds of approximately $50,109,340. This was a redemption by the issuer (transaction code J), not an open-market sale.

Key Details

• Transaction date: 2026-09-23 (reported on Form 4 filed 2026-09-25) — appears filed within the typical two-business-day window.
• Per-share redemption price: $100,218.68 (includes $100,000 liquidation preference + $218.677 accrued dividends).
• Total proceeds: ≈ $50,109,340 (500 × $100,218.68).
• Shares owned after transaction: not specified in the Form 4 filing.
• Footnotes: F1 explains the redemption and per-share breakdown; F2 notes Wells Fargo’s indirect interest via its wholly owned subsidiary; F3 is a standard non-grouping/Section 13(d) disclaimer.
• Transaction type: Code J (other acquisition/disposition) — issuer redemption of preferred shares, not a market buy/sell.

Context This is an institutional-level redemption of preferred (munifund) shares and should be seen as a routine capital event by the issuer rather than a direct trading signal from an executive. The large per-share amount reflects the preferred shares’ $100,000 liquidation preference.