PIMCO Access Income Fund (PAXS) Initial Form 3 — No Insider Holdings

Rhea-AI Filing Summary

Form 3 filed for PIMCO Access Income Fund (PAXS) by Mark D. Michel, reporting as a director. The form states the date of the triggering event was 09/18/2025 and that no securities of the issuer are beneficially owned by the reporting person. The filing was signed on behalf of Mr. Michel by an attorney-in-fact on 09/25/2025. An Exhibit 24 power of attorney is referenced.

Positive

• Disclosure compliance completed with a timely Form 3 filing
• Clear statement that the reporting person currently owns no beneficial securities of PAXS
• Exhibit 24 (Power of Attorney) included, indicating authorized signature procedures

Negative

• None.

Insights

Financial Analyst

TL;DR — Routine disclosure: director reports no beneficial ownership; immaterial to PAXS valuation.

The Form 3 is an initial Section 16 filing that notifies the market of the reporting person's relationship to the issuer and current holdings. Here, Mark D. Michel is disclosed as a director but reports no beneficial ownership of PAXS shares. This means there is no immediate insider buying or selling reflected in this filing and no change to outstanding insider ownership metrics.

Corporate Governance Expert

TL;DR — Governance transparency maintained; absence of holdings is noted but not unusual for certain director roles.

The filing fulfills Section 16(a) reporting requirements by documenting director status and current lack of securities ownership. The inclusion of Exhibit 24 suggests appropriate delegation of signature authority. From a governance perspective, the report is procedural and does not signal conflicts of interest or material related-party holdings.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Michel Mark D.

(Last) (First) (Middle)

C/O PIMCO

650 NEWPORT CENTER DRIVE

(Street)

NEWPORT BEACH CA 92660

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/18/2025

3. Issuer Name and Ticker or Trading Symbol
PIMCO Access Income Fund [ PAXS ]

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

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney No Securities are beneficially owned.

No securities are beneficially owned.

	/s/ Ryan Leshaw, Attorney-in-Fact for Mark D. Michel	09/25/2025
	** 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 5 (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

What does the Form 3 filed for PAXS mean?

The Form 3 is an initial insider report showing that Mark D. Michel is a director of PAXS and currently owns no beneficial securities of the fund.

When was the reportable event date for this Form 3 (PAXS)?

The date of the event requiring the statement is 09/18/2025.

Who filed the Form 3 for Mark D. Michel for PAXS?

The form was signed by Ryan Leshaw, Attorney-in-Fact for Mark D. Michel on 09/25/2025.

Does this Form 3 indicate any insider trading activity for PAXS?

No. The filing explicitly states no securities are beneficially owned, so it does not reflect any insider purchases or sales.

Is there any power of attorney referenced in the filing?

Yes. The filing references Exhibit 24 — Power of Attorney, used for authorized signature.