Eaton Vance (EVT) Form 4: Monthly Buys Followed by Large Director Sale

Rhea-AI Filing Summary

Reporting person: Aaron Dunn, identified as a Director of Eaton Vance Tax-Advantaged Dividend Income Fund (EVT). The Form 4 shows repeated non-derivative purchases of common shares from 11/29/2024 through 08/29/2025 with incremental amounts added each month, followed by a sale on 09/23/2025 of 2,035 shares at $24.3204. The monthly reported purchases increased beneficial ownership from 1,630.7534 shares on 11/29/2024 to 2,037.9311 shares on 08/29/2025; after the 09/23/2025 sale the reported beneficial ownership is 2.9311 shares. All reported holdings are shown as Direct ownership.

Positive

• Consistent documented purchases from 11/29/2024 through 08/29/2025 indicate ongoing acquisition activity prior to the sale
• Transparent reporting with per-share prices and dates provided for each transaction

Negative

• Large disposition on 09/23/2025 of 2,035 shares at $24.3204 sharply reduced reported direct beneficial ownership from 2,037.9311 to 2.9311 shares
• Post-transaction direct holdings are minimal (2.9311 shares), representing a substantial decrease in reported exposure

Insights

Financial Analyst

TL;DR: Director executed monthly share purchases then reported a large sale, leaving minimal direct holdings.

The filing documents consistent monthly non-derivative acquisitions recorded from November 2024 through August 2025 with transaction codes and per-share prices listed for each month. A single reported disposition on 09/23/2025 of 2,035 shares at $24.3204 reduced reported direct beneficial ownership from 2,037.9311 shares to 2.9311 shares. This is a substantial reduction in reported direct holdings by the reporting person as shown in the form.

Corporate Governance Expert

TL;DR: Insider activity shows routine accumulation followed by a large sale that materially reduced direct holdings.

The sequence of monthly reported acquisitions followed by a single large sale is clearly documented on Form 4. The reporting person is designated as a Director and all positions are reported as direct. The form is signed by an attorney-in-fact on 09/24/2025. The disclosure reflects a material change in the director's direct ownership as reported.

SEC Form 4

FORM 4

UNITED 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

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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^*

Dunn Aaron

(Last) (First) (Middle)

ONE POST OFFICE SQUARE

(Street)

BOSTON MA 02109

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Eaton Vance Tax-Advantaged Dividend Income Fund [ EVT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/23/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price
Common Shares	11/29/2024		J	V	10.3824	A	$25.6888	1,630.7534	D
Common Shares	12/31/2024		J	V	11.1155	A	$24.1482	1,641.8689	D
Common Shares	01/31/2025		J	V	10.9207	A	$24.7466	1,652.7896	D
Common Shares	02/28/2025		J	V	11.3974	A	$23.8695	1,954.187	D
Common Shares	03/31/2025		J	V	13.9384	A	$23.0773	1,968.1254	D
Common Shares	04/30/2025		J	V	14.7509	A	$21.9614	1,982.8763	D
Common Shares	05/30/2025		J	V	14.0331	A	$23.2579	1,996.9094	D
Common Shares	06/30/2025		J	V	13.6607	A	$24.0611	2,010.5701	D
Common Shares	07/31/2025		J	V	13.715	A	$24.1297	2,024.2851	D
Common Shares	08/29/2025		J	V	13.646	A	$24.4175	2,037.9311	D
Common Shares	09/23/2025		S		2,035	D	$24.3204	2.9311	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	Deidre Walsh, Attorney in Fact	09/24/2025
	** Signature of Reporting Person	Date
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.

FAQ

Who filed the Form 4 for EVT?

The Form 4 was filed for Aaron Dunn, identified as a Director of Eaton Vance Tax-Advantaged Dividend Income Fund (EVT).

What transactions are reported on this Form 4 for EVT?

The form reports multiple monthly non-derivative purchases from 11/29/2024 to 08/29/2025 and a sale on 09/23/2025 of 2,035 shares at $24.3204.

How did the reported beneficial ownership change after the transactions?

Reported direct beneficial ownership rose to 2,037.9311 shares on 08/29/2025 and then fell to 2.9311 shares following the 09/23/2025 sale.

Are the reported holdings direct or indirect?

All reported holdings in the Form 4 are shown as Direct (D) ownership.

Who signed the Form 4 and when?

The filing shows Deidre Walsh, Attorney in Fact signing the form on 09/24/2025.