NYLI MacKay fund insider sells 1,250 MMD shares

NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) insider John J Lawlor, identified as a portfolio manager, reported selling a total of 1,250 Shares of Beneficial Interest on 2026-08-07 in two open-market transactions.

Rhea-AI Filing Summary

NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) insider John J Lawlor, identified as a portfolio manager, reported selling a total of 1,250 Shares of Beneficial Interest on 2026-08-07 in two open-market transactions. The sales were executed at prices of $15.02 for 100 shares and $15.00 for 1,150 shares. The filing does not report Lawlor’s post-transaction holdings, and the transactions were not flagged as made under a Rule 10b5-1 trading plan.

Insider Trade Summary

Net Seller: 1,250 shares

Net Sell 2 txns

Insider Lawlor John J

Role Insider

Sold 1,250 shs ($19K)

Type	Security	Shares	Price	Value
Sale	Shares of Beneficial Interest	100	$15.02	$2K
Sale	Shares of beneficial interest	1,150	$15.00	$17K

Holdings After Transaction: Shares of beneficial interest — 3,250 shares (Direct)

Key Figures

Shares sold (transaction 1): 100 shares Price per share (transaction 1): $15.0200 Shares sold (transaction 2): 1,150 shares +2 more

5 metrics

Shares sold (transaction 1) 100 shares Non-derivative sale of Shares of Beneficial Interest on 2026-08-07

Price per share (transaction 1) $15.0200 Sale price per share for 100 shares on 2026-08-07

Shares sold (transaction 2) 1,150 shares Non-derivative sale of Shares of beneficial interest on 2026-08-07

Price per share (transaction 2) $15.0000 Sale price per share for 1,150 shares on 2026-08-07

Total shares sold 1,250 shares Aggregate of both non-derivative sales reported in the Form 4

Key Terms

Shares of Beneficial Interest, Rule 10b5-1, non-derivative, portfolio manager

4 terms

Shares of Beneficial Interest financial

"security_title is listed as "Shares of Beneficial Interest""

Rule 10b5-1 regulatory

"aff_10b5_one indicates the Rule 10b5-1 checkbox status"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

non-derivative financial

"transaction_type is classified as "non-derivative" for both sales"

portfolio manager financial

"reporting person is described as "Portfolio Manager""

A portfolio manager is the professional who picks and oversees a collection of investments—such as stocks, bonds, and cash—on behalf of individuals or institutions. They make decisions about which assets to buy, hold or sell and how much risk to take, like a ship captain steering through changing weather; their choices shape an investor’s potential returns, losses and the steadiness of the investment experience.

FAQ

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

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

NYLI MacKay DefinedTerm Muni Opportunities Fund reported that portfolio manager John J Lawlor sold 1,250 Shares of Beneficial Interest on 2026-08-07 in two open-market transactions at prices of $15.02 and $15.00 per share.

How many MMD shares did John J Lawlor sell and at what prices?

John J Lawlor sold a total of 1,250 MMD Shares of Beneficial Interest, consisting of 100 shares at $15.02 and 1,150 shares at $15.00 per share in open-market transactions on 2026-08-07.

What is John J Lawlor’s role at NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD)?

The filing identifies John J Lawlor as a Portfolio Manager of NYLI MacKay DefinedTerm Muni Opportunities Fund. He is not listed as a director, officer, or 10% owner, but reports transactions as an insider under SEC rules.

Were the MMD insider sales by John J Lawlor under a Rule 10b5-1 trading plan?

The Form 4 indicates the Rule 10b5-1 checkbox is not affirmed, so these sales were not marked as executed under a pre-arranged 10b5-1 trading plan, based on the filing’s plan-status field.

What type of security did John J Lawlor sell in MMD?

John J Lawlor sold Shares of Beneficial Interest in NYLI MacKay DefinedTerm Muni Opportunities Fund. These represent the fund’s listed equity interests rather than derivative securities, and both reported transactions are classified as non-derivative sales.

Does the Form 4 show John J Lawlor’s remaining MMD holdings after the sale?

The reported transactions list share amounts sold, but the post-transaction holdings field is blank for both entries. The Form 4 therefore does not state how many NYLI MacKay DefinedTerm Muni Opportunities Fund shares Lawlor holds after these sales.

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

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Available on EDGAR 08/10/2026 - 12:26 PM Accepted by SEC EDGAR 08/10/2026 - 12:26 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^*

Lawlor John J

(Last) (First) (Middle)

299 PARK AVENUE

32ND FLOOR

(Street)

NEW YORK NEW YORK 10171

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/07/2026

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

X	Form filed by One Reporting Person
	Form 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)
			Code	V	Amount	(A) or (D)	Price
Shares of Beneficial Interest	08/07/2026		S		100	D	$15.02	4,400	D
Shares of beneficial interest	08/07/2026		S		1,150	D	$15	3,250	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:

	Thomas C. Humbert, Jr., Attorney-in-Fact	08/10/2026
	** 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.
* Form 4: SEC 1474 (03-26)