STOCK TITAN
  1. Home
  2. Sec-filings
  3. BAC
  4. [Form 4] BANK OF AMERICA CORP /DE/ Insider Trading Activity

Bank of America (BAC) shifts 1,469 VKI preferred shares into tender option trust

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Bank of America Corporation and its subsidiary Banc of America Preferred Funding Corporation (BAPFC) reported an internal restructuring involving shares of Invesco Advantage Municipal Income Trust II (VKI). On April 30, 2026, BAPFC deposited 1,469 SERIES 2015/6-VKI Variable Rate Muni Term Preferred Shares into a tender option bond trust designated as TOB 2026-BAP0002 Trust, at a stated price of $0.00 per share.

The TOB Trust now holds legal title to these preferred shares, but does not independently control their disposition. BAPFC, as a beneficiary and through contractual rights, retains indirect beneficial ownership, and Bank of America in turn holds an indirect interest through its ownership of BAPFC. The filing is characterized as an “other” type of transaction rather than an open-market purchase or sale.

Positive

  • None.

Negative

  • None.
Insider BANK OF AMERICA CORP /DE/, Banc of America Preferred Funding Corp
Role 10% Owner | 10% Owner
Type Security Shares Price Value
Other Invesco Advantage Municipal Income Trust II [VKI] 1,469 $0.00 $0.00
Other Invesco Advantage Municipal Income Trust II [VKI] 1,469 $0.00 $0.00
Holdings After Transaction: Invesco Advantage Municipal Income Trust II [VKI] — 0 shares (Indirect, By Subsidiary); Invesco Advantage Municipal Income Trust II [VKI] — 1,469 shares (Indirect, By Trust)
Footnotes (3)
  1. F1. On April 30, 2026, Banc of America Preferred Funding Corporation ("BAPFC") deposited 1,469 SERIES 2015/6-VKI VARIABLE RATE MUNI TERM PREFERRED SHARES(VMTP Shares) (CUSIP No. 46132E855) into a tender option trust and custody arrangement designated as TOB 2026-BAP0002 Trust (the "TOB Trust"). The TOB Trust has title to such VMTP Shares but does not independently have the power to dispose or direct the disposition of the VMTP Shares. BAPFC, as a beneficiary of the Trust and through its contractual rights, retains an indirect beneficial ownership in the VMTP Shares
  2. F2. This statement is jointly filed by Bank of America and BAPFC. Bank of America holds an indirect interest in the securities listed in Table I (the "Securities") by virtue of its indirect ownership of its subsidiary BAPFC
  3. 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) oft he 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
Shares restructured 1,469 shares SERIES 2015/6-VKI Variable Rate Muni Term Preferred Shares deposited into TOB trust on April 30, 2026
Transaction price per share $0.00 per share Internal restructuring of VKI preferred shares
Restructuring transactions 2 transactions Code J “other” transactions on April 30, 2026
Total shares affected 2,938 shares Aggregate restructuringShares from transaction summary
tender option trust financial
"deposited 1,469 ... into a tender option trust and custody arrangement designated as TOB 2026-BAP0002 Trust"
VARIABLE RATE MUNI TERM PREFERRED SHARES financial
"1,469 SERIES 2015/6-VKI VARIABLE RATE MUNI TERM PREFERRED SHARES(VMTP Shares)"
indirect beneficial ownership financial
"BAPFC, as a beneficiary of the Trust and through its contractual rights, retains an indirect beneficial ownership in the VMTP Shares"
Section 13(d) regulatory
"for the purposes of Section 13(d) oft he US Securities Exchange Act of 1934 or any other purpose"
tender option bond trust financial
"tender option trust and custody arrangement designated as TOB 2026-BAP0002 Trust"

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
Form 4 Insider Transactions: What Each Field Means →

FAQ

What did Bank of America (BAC) report in this Form 4 for VKI?
Bank of America reported an internal restructuring of VKI preferred shares. Its subsidiary deposited 1,469 Variable Rate Muni Term Preferred Shares into a tender option trust, shifting legal title while retaining indirect beneficial ownership through contractual rights and trust beneficial interests.

How many VKI preferred shares were moved by Banc of America Preferred Funding Corp?
Banc of America Preferred Funding Corp moved 1,469 VKI preferred shares. These SERIES 2015/6-VKI Variable Rate Muni Term Preferred Shares were deposited into the TOB 2026-BAP0002 Trust, which now holds legal title while the subsidiary keeps an indirect beneficial interest.

Was there a purchase or sale price for the VKI shares in this BAC filing?
The filing lists a transaction price of $0.00 per VKI share. This indicates the movement of 1,469 preferred shares into the tender option trust was an internal restructuring, not an open-market purchase or sale involving cash consideration per share.

Who now holds title to the VKI preferred shares after Bank of America’s restructuring?
Title to the VKI preferred shares is held by the TOB 2026-BAP0002 Trust. However, the trust does not independently control disposition of the shares. BAPFC retains indirect beneficial ownership through its beneficiary status and related contractual rights over the VMTP Shares.

Does this BAC Form 4 indicate market buying or selling of VKI shares?
No, the transactions are classified as “other” rather than market trades. Both entries carry code J for other acquisition or disposition, with a $0.00 price, reflecting an internal restructuring via a tender option trust rather than open-market buying or selling activity.
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
BANK OF AMERICA CORP /DE/
(Last)(First)(Middle)
BANK OF AMERICA CORPORATE CENTER
100 N TRYON ST
(Street)
CHARLOTTE NORTH CAROLINA 28255
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
BANK OF AMERICA CORP /DE/ [ VKI ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
DirectorX10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
XForm filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Invesco Advantage Municipal Income Trust II [VKI]04/30/2026J(1)1,469(1)D(1)0(1)IBy Subsidiary(2)(3)
Invesco Advantage Municipal Income Trust II [VKI]04/30/2026J(1)1,469(1)A(1)1,469(1)IBy Trust(1)(2)(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
1. Name and Address of Reporting Person*
BANK OF AMERICA CORP /DE/
(Last)(First)(Middle)
BANK OF AMERICA CORPORATE CENTER
100 N TRYON ST
(Street)
CHARLOTTE NORTH CAROLINA 28255
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
Banc of America Preferred Funding Corp
(Last)(First)(Middle)
214 NORTH TRYON STREET
(Street)
CHARLOTTE NORTH CAROLINA 28255
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
Explanation of Responses:
1. On April 30, 2026, Banc of America Preferred Funding Corporation ("BAPFC") deposited 1,469 SERIES 2015/6-VKI VARIABLE RATE MUNI TERM PREFERRED SHARES(VMTP Shares) (CUSIP No. 46132E855) into a tender option trust and custody arrangement designated as TOB 2026-BAP0002 Trust (the "TOB Trust"). The TOB Trust has title to such VMTP Shares but does not independently have the power to dispose or direct the disposition of the VMTP Shares. BAPFC, as a beneficiary of the Trust and through its contractual rights, retains an indirect beneficial ownership in the VMTP Shares
2. This statement is jointly filed by Bank of America and BAPFC. Bank of America holds an indirect interest in the securities listed in Table I (the "Securities") by virtue of its indirect ownership of its subsidiary BAPFC
3. 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) oft he 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
BANK OF AMERICA CORP /DE/ By: Its: Authorized Signatory /s/ Andres Ortiz05/04/2026
BANC OF AMERICA PREFERRED FUNDING CORPORATION By: Its: Authorized Signatory /s/ Andres Ortiz05/04/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR