MMD insider sells 11,965 shares at $14.84, reports 0 remaining

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 11/20/2025, the reporting person sold 11,964.7151 shares of beneficial interest of the fund at a price of $14.84 per share, coded as a sale transaction. After this trade, the reporting person reported owning 0 shares, with all holdings shown as directly owned before the transaction.

Insider Trade Summary

Net Seller: 11,964.7151 shares

Net Sell 1 txn

Insider DIMELLA ROBERT A

Role Insider

Sold 11,964.7151 shs ($178K)

Type	Security	Shares	Price	Value
Sale	Shares of beneficial interest	11,964.7151	$14.84	$178K

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 MMD disclose in this Form 4 filing?

The filing shows that a portfolio manager sold 11,964.7151 shares of beneficial interest of NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) on 11/20/2025.

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

The reported sale price was $14.84 per share for the shares of beneficial interest in NYLI MacKay DefinedTerm Muni Opportunities Fund.

How many MMD shares does the reporting person own after the transaction?

Following the reported sale, the reporting person reported beneficial ownership of 0 shares of NYLI MacKay DefinedTerm Muni Opportunities Fund.

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

The reporting person is identified as an Officer with the title Portfolio Manager in relation to NYLI MacKay DefinedTerm Muni Opportunities Fund.

Was this MMD Form 4 filed for one or multiple reporting persons?

The form indicates it was filed by one reporting person, not a group filing.

What transaction code was used for the MMD insider trade on this Form 4?

The transaction is labeled with code S, indicating a sale of securities under the Form 4 instructions.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 11/21/2025 - 03:29 PM EST 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 AVE

(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)
11/20/2025

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	11/20/2025		S		11,964.7151	D	$14.84	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	11/21/2025
	** 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.