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Wells Fargo unit exits 750 Nuveen (NAD) MuniFund preferred shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Nuveen Quality Municipal Income Fund redeemed 750 MuniFund Preferred Shares that were beneficially owned by Wells Fargo Municipal Capital Strategies, LLC, a wholly owned subsidiary of Wells Fargo & Company. The redemption price was $100,008.835788 per share, including a $100,000.00 liquidation preference and $8.835788 of accrued dividends per share.

After this issuer-initiated redemption, entities affiliated with Wells Fargo indirectly hold 2,238 MuniFund Preferred Shares of the fund. The filing is a joint statement by Wells Fargo & Company and Capital Strategies and characterizes the event as an "other" type of transaction rather than an open-market trade.

Positive

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Negative

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Insider WELLS FARGO & COMPANY/MN, Wells Fargo Municipal Capital Strategies, LLC
Role 10% Owner | 10% Owner
Type Security Shares Price Value
Other MuniFund Preferred Shares 750 $0.00 --
Holdings After Transaction: MuniFund Preferred Shares — 2,238 shares (Indirect, By Subsidiary)
Footnotes (1)
  1. The 750 munifund preferred shares reported as disposed of in Table I represent munifund preferred shares of the Issuer (the "MFP Shares") that were beneficially owned by Wells Fargo Municipal Capital Strategies, LLC ("Capital Strategies"). The MFP Shares were disposed of as a result of a redemption by the Issuer for a redemption price of $100,008.835788 per share (which includes a liquidation preference of $100,000.00 per share and accrued dividends of $8.835788 per share). This statement is jointly filed by Wells Fargo & Company ("Wells Fargo") and Capital Strategies. Wells Fargo holds an indirect interest in the securities listed in Table I by virtue of its indirect ownership of its wholly owned subsidiary Capital Strategies. 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 Section 13(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.
Shares redeemed 750 shares MuniFund Preferred Shares redeemed by issuer
Redemption price per share $100,008.835788 per share Redemption price including liquidation and accrued dividends
Liquidation preference $100,000.00 per share Base liquidation value included in redemption price
Accrued dividends $8.835788 per share Accrued dividends included in redemption price
Shares held after transaction 2,238 shares Indirect MuniFund Preferred Shares following redemption
MuniFund Preferred Shares financial
"The 750 munifund preferred shares reported as disposed of in Table I"
redemption price financial
"were disposed of as a result of a redemption by the Issuer for a redemption price of $100,008.835788 per share"
The redemption price is the amount of money a person receives when they sell or redeem a bond or investment before it matures. It’s important because it determines how much you get back and can affect your overall profit or loss on the investment. Think of it like the price you get when returning a gift card early—it's the value you receive at that time.
liquidation preference financial
"which includes a liquidation preference of $100,000.00 per share and accrued dividends"
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.
accrued dividends financial
"liquidation preference of $100,000.00 per share and accrued dividends of $8.835788 per share"
Accrued dividends are payments a company owes to shareholders that have been earned or officially declared but not yet paid; think of them as an IOU the company has for past dividend obligations. They matter to investors because they represent a near-term claim on a company’s cash, affect the company’s reported liabilities and value, and can be especially important when assessing income reliability or priority in a payout situation.
indirect interest financial
"Wells Fargo holds an indirect interest in the securities listed in Table I by virtue of its indirect ownership"

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FAQ

What insider transaction did Nuveen Quality Municipal Income Fund (NAD) report?
Nuveen Quality Municipal Income Fund reported that 750 MuniFund Preferred Shares held by a Wells Fargo subsidiary were redeemed by the fund. The shares were removed through an issuer-initiated redemption rather than an open-market purchase or sale by the insider.

Who held the Nuveen (NAD) MuniFund Preferred Shares that were redeemed?
The 750 redeemed MuniFund Preferred Shares were beneficially owned by Wells Fargo Municipal Capital Strategies, LLC. This entity is a wholly owned subsidiary through which Wells Fargo & Company indirectly held its interest in the Nuveen Quality Municipal Income Fund preferred shares.

At what price were the redeemed Nuveen (NAD) MuniFund Preferred Shares valued?
Each redeemed MuniFund Preferred Share was valued at a redemption price of $100,008.835788. This amount includes a $100,000.00 per share liquidation preference plus $8.835788 per share in accrued dividends owed at the time of redemption by the fund.

How many Nuveen (NAD) MuniFund Preferred Shares does the Wells Fargo affiliate hold after redemption?
Following the redemption of 750 MuniFund Preferred Shares, entities affiliated with Wells Fargo report indirect beneficial ownership of 2,238 MuniFund Preferred Shares. This figure reflects the remaining position disclosed after the issuer’s redemption transaction removed part of the prior holdings.

Was the Nuveen (NAD) insider event a buy or sell transaction?
The event is described as an "other" transaction, not a traditional buy or sell. The shares were disposed of because Nuveen Quality Municipal Income Fund redeemed them, so the change in holdings resulted from an issuer-initiated redemption rather than active trading by the Wells Fargo affiliate.
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
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*
WELLS FARGO & COMPANY/MN
(Last)(First)(Middle)
420 MONTGOMERY STREET
(Street)
SAN FRANCISCO CALIFORNIA 94104
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Nuveen Quality Municipal Income Fund [ NAD ] 		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)
06/10/2026		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
MuniFund Preferred Shares06/10/2026J(1)(2)750D(1)(1)2,238IBy Subsidiary(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*
WELLS FARGO & COMPANY/MN
(Last)(First)(Middle)
420 MONTGOMERY STREET
(Street)
SAN FRANCISCO CALIFORNIA 94104
(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*
Wells Fargo Municipal Capital Strategies, LLC
(Last)(First)(Middle)
420 MONTGOMERY STREET
(Street)
SAN FRANCISCO CALIFORNIA 94104
(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 750 munifund preferred shares reported as disposed of in Table I represent munifund preferred shares of the Issuer (the "MFP Shares") that were beneficially owned by Wells Fargo Municipal Capital Strategies, LLC ("Capital Strategies"). The MFP Shares were disposed of as a result of a redemption by the Issuer for a redemption price of $100,008.835788 per share (which includes a liquidation preference of $100,000.00 per share and accrued dividends of $8.835788 per share).
2. This statement is jointly filed by Wells Fargo & Company ("Wells Fargo") and Capital Strategies. Wells Fargo holds an indirect interest in the securities listed in Table I by virtue of its indirect ownership of its wholly owned subsidiary Capital Strategies.
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 Section 13(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.
Remarks:
Exhibits Index Exhibit 99.1 - Joint Filing Agreement Exhibit 99.2 - Joint Filer Information
WELLS FARGO & COMPANY, by: /s/ Patricia Arce, Designated Signer06/12/2026
WELLS FARGO MUNICIPAL CAPITAL STRATEGIES, LLC, by: /s/ Daniel Frizsell, Vice President06/12/2026
** 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