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Eaton Vance Senior Floating-Rate (NYSE: EFR) redeems APS held by BofA

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Filing Sentiment
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Form Type
4

Rhea-AI Filing Summary

Eaton Vance Senior Floating-Rate Trust reported that 614 Auction Preferred Shares indirectly beneficially owned by BANK OF AMERICA NA were redeemed by the trust on May 29, 2026. The shares carried a liquidation preference of $25,000 per share and were redeemed at $24,500 per share, plus any unpaid dividends, under a previously described tender offer. Bank of America Corporation held only an indirect interest through its ownership of BANK OF AMERICA NA.

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Insider BANK OF AMERICA CORP /DE/, BANK OF AMERICA NA
Role null | null
Type Security Shares Price Value
Other Auction Preferred Shares 101 $0.00 --
Other Auction Preferred Shares 194 $0.00 --
Other Auction Preferred Shares 127 $0.00 --
Other Auction Preferred Shares 192 $0.00 --
Holdings After Transaction: Auction Preferred Shares — 513 shares (Indirect, See Footnotes)
Footnotes (1)
  1. The 614 Auction Preferred Shares, Series A, B, C, and D "APS" (CUSIP number: 27828Q204, 27828Q303, 27828Q402, 27828Q501) reported as disposed of in Table I represent shares that were beneficially owned by BANK OF AMERICA NA (BANA). The 614 ARS Shares held by BANA were redeemed by the Issuer on May 29, 2026, as described in the Tender Offer Statement Under Section 14(d)(1) or 13(e)(1) of the Securities Exchange Act of 1934, filed by Eaton Vance Senior Floating-Rate Trust with the SEC on April 04, 2026, and amended on Junes 01, 2026, at a price per share equal to 98% of the APS liquidation preference of $25,000 per share (or $24,500 per share), plus any unpaid APS dividends accrued through the expiration date of the Tender Offer. BANA is a wholly owned subsidiary of Bank of America Corporation. This statement is jointly filed by Bank of America Corporation and BANA. Bank of America Corporation held an indirect interest in the securities listed in Table I by virtue of its indirect ownership of BANA. 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 Section13(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.
Auction Preferred Shares redeemed 614 shares Redeemed by issuer on May 29, 2026
Liquidation preference per APS $25,000 per share Auction Preferred Shares Series A–D
Redemption price per APS $24,500 per share 98% of liquidation preference under tender offer
Redemption discount 98% of liquidation preference Price versus $25,000 per share preference
Restructuring shares 614 shares Classified as restructuring transactions in Form 4 summary
Tender offer reference date April 04, 2026 Original tender offer filing referenced in footnote
Tender offer amendment date June 01, 2026 Amendment to tender offer filing referenced
Auction Preferred Shares financial
"The 614 Auction Preferred Shares, Series A, B, C, and D "APS""
Auction preferred shares are a type of preferred stock that pays regular income with the payment rate set periodically through a bidding process rather than fixed forever. Think of it like buying a concert seat where the ticket price (the income rate) is determined by an auction among buyers; the result decides what new investors will receive until the next auction. They matter to investors because they offer potentially higher income tied to market demand but also bring interest-rate, auction, and liquidity risks and sit ahead of common stock for dividend and liquidation priority.
liquidation preference financial
"equal to 98% of the APS liquidation preference of $25,000 per share"
A liquidation preference is a rule that determines who gets paid first and how much they receive when a company is sold, goes bankrupt, or distributes its assets. It gives certain investors a priority claim—often returning their original investment plus any agreed multiple—before other owners receive money, which shapes how much common shareholders and founders ultimately get; think of it as a front-of-the-line pass that affects payout order and investor returns.
Tender Offer Statement regulatory
"as described in the Tender Offer Statement Under Section 14(d)(1) or 13(e)(1)"
A tender offer statement is the formal document that explains the details of a public proposal to buy shareholders’ stock at a specific price and under set conditions. It lists who is making the offer, the price and timing, how the purchase will be funded, and any conditions or risks, so shareholders can decide whether to sell. Think of it as a clear flyer for a buyout that tells investors what’s being offered and why it matters to their holdings.
beneficially owned financial
"represent shares that were beneficially owned by BANK OF AMERICA NA (BANA)"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Section 14(d)(1) or 13(e)(1) regulatory
"Tender Offer Statement Under Section 14(d)(1) or 13(e)(1) of the Securities Exchange Act of 1934"
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Form 4 Insider Transactions: What Each Field Means →
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
X
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
Eaton Vance Senior Floating-Rate Trust [ EFR ] 		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)
05/29/2026		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
Auction Preferred Shares(1)(2)(3)05/29/2026J101D(1)513ISee Footnotes(1)(2)(3)
Auction Preferred Shares(1)(2)(3)05/29/2026J194D(1)319ISee Footnotes(1)(2)(3)
Auction Preferred Shares(1)(2)(3)05/29/2026J127D(1)192ISee Footnotes(1)(2)(3)
Auction Preferred Shares(1)(2)(3)05/29/2026J192D(1)0ISee Footnotes(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*
BANK OF AMERICA NA
(Last)(First)(Middle)
100 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. The 614 Auction Preferred Shares, Series A, B, C, and D "APS" (CUSIP number: 27828Q204, 27828Q303, 27828Q402, 27828Q501) reported as disposed of in Table I represent shares that were beneficially owned by BANK OF AMERICA NA (BANA). The 614 ARS Shares held by BANA were redeemed by the Issuer on May 29, 2026, as described in the Tender Offer Statement Under Section 14(d)(1) or 13(e)(1) of the Securities Exchange Act of 1934, filed by Eaton Vance Senior Floating-Rate Trust with the SEC on April 04, 2026, and amended on Junes 01, 2026, at a price per share equal to 98% of the APS liquidation preference of $25,000 per share (or $24,500 per share), plus any unpaid APS dividends accrued through the expiration date of the Tender Offer. BANA is a wholly owned subsidiary of Bank of America Corporation.
2. This statement is jointly filed by Bank of America Corporation and BANA. Bank of America Corporation held an indirect interest in the securities listed in Table I by virtue of its indirect ownership of BANA.
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 Section13(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.
BANK OF AMERICA CORP /DE/ By: Its: Authorized Signatory /s/ Andres Ortiz06/02/2026
BANK OF AMERICA NA By: Its: Authorized Signatory /s/ Andres Ortiz06/02/2026
** 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

FAQ

What insider transaction did EFR report involving Bank of America?

EFR reported the redemption of 614 Auction Preferred Shares indirectly beneficially owned by BANK OF AMERICA NA. The trust redeemed these shares on May 29, 2026 under a tender offer, removing this preferred stake from Bank of America’s associated holdings.

How many Auction Preferred Shares of EFR were affected in this Form 4?

A total of 614 Auction Preferred Shares of Eaton Vance Senior Floating-Rate Trust (EFR) were reported as disposed of. These shares were redeemed by the trust from BANK OF AMERICA NA in several restructuring transactions recorded on May 29, 2026.

What price did EFR pay to redeem the Auction Preferred Shares?

EFR redeemed the Auction Preferred Shares at a price of $24,500 per share. This amount equals 98% of the $25,000 per share liquidation preference, with any unpaid dividends accrued through the tender offer’s expiration date paid in addition.

Who actually held the EFR Auction Preferred Shares reported in the filing?

The 614 Auction Preferred Shares were beneficially owned by BANK OF AMERICA NA. Bank of America Corporation held an indirect interest only, through its indirect ownership of BANK OF AMERICA NA, rather than holding the EFR preferred shares directly.