NEUBERGER BERMAN MUNICIPAL FUND INC. AND NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND INC. ANNOUNCE CERTIFIED RESULTS OF 2024 ANNUAL MEETINGS

Rhea-AI Summary

Neuberger Berman Municipal Fund Inc. (NYSE American: NBH) and Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE: NBXG) have announced the certified results of their 2024 Annual Meetings of Stockholders. The meetings, held on August 16, 2024, reached quorum and faced a challenge from a dissident stockholder who proposed an alternative nominee. For NBH, preferred stockholders re-elected Michael M. Knetter. The final results, certified by independent Inspector of Election First Coast Results, Inc., confirm that the incumbent Board members of both funds will retain their positions. These results will be included in the funds' next annual report to stockholders.

Positive

• Incumbent Board members retained their positions for both funds
• Annual Meetings reached quorum, indicating sufficient shareholder participation

Negative

• None.

NEW YORK, Aug. 23, 2024 /PRNewswire/ -- Neuberger Berman Municipal Fund Inc. (NYSE American: NBH) and Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE: NBXG) announced today the final certified voting results of both funds' 2024 Annual Meetings of Stockholders (the "Annual Meetings") where a dissident stockholder had proposed a nominee.

For NBH, the holders of preferred stock re-elected Michael M. Knetter. The certified final results of the Annual Meetings confirm that the incumbent Board members of both funds will remain in place. The Annual Meetings reached quorum and were held on August 16, 2024.

The final voting results have been certified by First Coast Results, Inc., the independent Inspector of Election and will be included in the funds' next annual report to stockholders.

About Neuberger Berman

Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $481 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman's investment philosophy is founded on active management, fundamental research and engaged ownership. The PRI identified the firm as part of the Leader's Group, a designation awarded to fewer than 1% of investment firms for excellence in environmental, social and governance practices. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last ten years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of June 30, 2024. 

Statements made in this release that look forward in time involve risks and uncertainties. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in the Fund's performance, a general downturn in the economy, competition from other closed end investment companies, changes in government policy or regulation, inability of the Fund's investment adviser to attract or retain key employees, inability of the Fund to implement its investment strategy, inability of the Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.

Contact:
Neuberger Berman Investment Advisers LLC
Investor Information
(877) 461-1899     

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SOURCE Neuberger Berman

FAQ

What was the outcome of Neuberger Berman Municipal Fund Inc. (NBH) 2024 Annual Meeting?

The incumbent Board members were retained, with Michael M. Knetter re-elected by preferred stockholders.

When were the 2024 Annual Meetings for NBH and NBXG held?

The Annual Meetings were held on August 16, 2024.

Was there any opposition to the incumbent Board members in the NBH and NBXG 2024 Annual Meetings?

Yes, a dissident stockholder had proposed an alternative nominee for both funds.

Who certified the final voting results for NBH and NBXG's 2024 Annual Meetings?

First Coast Results, Inc., an independent Inspector of Election, certified the final voting results.