BANK OF AMERICA CORP /DE/ 4

What Happened
Bank of America Corporation (reporting as a 10% owner) reported the disposition of 200 Variable Rate Municipal Preferred Shares (VMTPS) of Federated Hermes Premier Municipal Income Fund (FMN). The 200 shares were redeemed by the issuer on April 2, 2026; the Form 4 lists the transaction price as N/A because the redemption was for the liquidation preference plus accumulated but unpaid dividends per the issuer’s March 30, 2026 Notice of Intention to Redeem (N-23C-2). This is a redemption (issuer-initiated disposition), not an open-market sale or a purchase.

Key Details

• Transaction date: April 2, 2026 (reported on Form 4 filed April 6, 2026).
• Security: 200 Variable Rate Municipal Preferred Shares (VMTPS). Transaction code: J (other acquisition or disposition). Price shown as N/A on Form 4; redemption price described in issuer notice as liquidation preference plus accumulated unpaid dividends.
• Shares owned after transaction: not specified in the filing.
• Reporting parties: Banc of America Preferred Funding Corporation (BAPFC) held the shares and was the direct holder; BAPFC is a wholly owned subsidiary of Bank of America Corporation. The statement is jointly filed by Bank of America Corporation and PFC.
• Additional note: Filing includes a customary declaration that the filers are not admitting to being part of a group under Section 13(d).

Context
This is an institutional redemption of preferred shares by the issuer, not a trading decision by an individual executive. Redemptions return capital to the holder at the stated liquidation preference and accrued dividends; because the funds announced the redemption in advance (March 30, 2026), this transaction is routine and driven by the issuer’s action rather than Bank of America’s market timing.