NYLI MacKay DefinedTerm Muni Opportunities Fund reports insider sale

NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) reported an insider transaction by a portfolio manager.

Rhea-AI Filing Summary

NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) reported an insider transaction by a portfolio manager. On 11/25/2025, the reporting person sold 0.7151 shares of beneficial interest at a price of $14.92 per share, coded as a sale ("S"). After this small transaction, the insider reported owning 0 shares directly. The filing is a routine Form 4 disclosing this activity under insider reporting rules.

Insider Trade Summary

Net Seller: 0.7151 shares

Net Sell 1 txn

Insider DIMELLA ROBERT A

Role Insider

Sold 0.7151 shs ($10.67)

Type	Security	Shares	Price	Value
Sale	Shares of beneficial interest	0.7151	$14.92	$10.67

Holdings After Transaction: Shares of beneficial interest — 0 shares (Direct)

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) disclose?

The fund disclosed that a portfolio manager reported a sale of 0.7151 shares of beneficial interest on 11/25/2025, reported on a Form 4.

How many MMD shares were sold in the reported insider trade?

The insider sold 0.7151 shares of beneficial interest in NYLI MacKay DefinedTerm Muni Opportunities Fund.

At what price were the MMD shares sold in this insider transaction?

The 0.7151 shares were sold at a price of $14.92 per share, according to the Form 4.

What was the insider’s MMD share ownership after the reported sale?

Following the reported sale, the insider reported owning 0 shares of NYLI MacKay DefinedTerm Muni Opportunities Fund directly.

What is the relationship of the reporting person to NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD)?

The reporting person is identified as a portfolio manager of NYLI MacKay DefinedTerm Muni Opportunities Fund.

What SEC form was used to report this MMD insider transaction?

The transaction was reported on Form 4, which insiders use to disclose changes in beneficial ownership of an issuer’s securities.

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

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Accepted by SEC EDGAR 12/01/2025 - 03:03 PM Learn about SEC filing dates

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

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^*

DIMELLA ROBERT A

(Last) (First) (Middle)

299 PARK AVENUE

(Street)

NEW YORK NY 10171

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NYLI MacKay DefinedTerm Muni Opportunities Fund [ MMD ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/25/2025

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
Shares of beneficial interest	11/25/2025		S		0.7151	D	$14.92	0	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:

	/s/ Thomas C. Humbert, Jr., Attorney-in-Fact	12/01/2025
	** 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.