Franklin Municipal Opportunities Trust accepts tenders

Bank of America Corporation held an indirect interest through its wholly owned subsidiary, Bank of America, N.A., which beneficially owned the shares.

Available on EDGAR 11/09/2026 - 04:16 PM EST Accepted by SEC EDGAR 11/09/2026 - 04:16 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

BANK OF AMERICA CORP /DE/ reported disposition transactions in this Form 4 filing. Franklin Municipal Opportunities Trust (PMO) accepted the tender of 2,748 Series B and 2,474 Series C Auction Rate Preferred Shares beneficially owned by Bank of America, N.A. on November 5, 2026. The shares were tendered under the Trust’s tender offer statement filed with the SEC on October 1, 2026; the reported post-transaction position was 3 shares of each class.

Insider Trade Summary

Other: 5,222 shares

Other 2 txns

Insider BANK OF AMERICA CORP /DE/, BANK OF AMERICA NA

Role 10% Owner | 10% Owner

Type	Security	Shares	Price	Value
Other	Series B Auction Rate Preferred Shares F1, F2, F3	2,748	--	--
Other	Series C Auction Rate Preferred Shares F1, F2, F3	2,474	--	--

Holdings After Transaction: Series B Auction Rate Preferred Shares — 3 shares (Indirect, See Footnotes); Series C Auction Rate Preferred Shares — 3 shares (Indirect, See Footnotes)

Footnotes (3)

1. F1. The Auction Rate Preferred Shares (ARPS) reported as disposed of in Table I represent shares that were beneficially owned by Bank of America, N.A. (BANA). The shares were tendered to and accepted by the Issuer on November 5, 2026, pursuant to the Tender Offer Statement filed by the Issuer with the SEC on October 1, 2026. BANA is a wholly owned subsidiary of Bank of America Corporation.
2. F2. This statement is jointly filed by Bank of America Corporation and Bank of America, N.A. (BANA). Bank of America Corporation held an indirect interest in the securities listed in Table I by virtue of its ownership of BANA.
3. F3. 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.

Key Figures

Series B Auction Rate Preferred Shares disposed: 2,748 shares Series C Auction Rate Preferred Shares disposed: 2,474 shares Series B shares following transaction: 3 shares +1 more

4 metrics

Series B Auction Rate Preferred Shares disposed 2,748 shares Tendered and accepted November 5, 2026

Series C Auction Rate Preferred Shares disposed 2,474 shares Tendered and accepted November 5, 2026

Series B shares following transaction 3 shares Reported after the November 5, 2026 disposition

Series C shares following transaction 3 shares Reported after the November 5, 2026 disposition

Key Terms

Auction Rate Preferred Shares, beneficially owned, Tender Offer Statement

3 terms

Auction Rate Preferred Shares financial

"Auction Rate Preferred Shares (ARPS) reported as disposed of"

beneficially owned regulatory

"shares that were beneficially owned by Bank of America, N.A."

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Tender Offer Statement regulatory

"pursuant to the Tender Offer Statement filed by the Issuer"

A tender offer statement is the formal document that explains the details of a public proposal to buy shareholders’ stock at a specific price and under set conditions. It lists who is making the offer, the price and timing, how the purchase will be funded, and any conditions or risks, so shareholders can decide whether to sell. Think of it as a clear flyer for a buyout that tells investors what’s being offered and why it matters to their holdings.

FAQ

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

How many PMO auction rate preferred shares were tendered?

Bank of America, N.A. tendered 2,748 Series B shares and 2,474 Series C shares, which the Trust accepted on November 5, 2026.

Why is Bank of America Corporation listed in the PMO Form 4?

Bank of America Corporation reported an indirect interest through its ownership of Bank of America, N.A., its wholly owned subsidiary. Bank of America, N.A. beneficially owned the tendered shares.

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

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

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

X

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^*

BANK OF AMERICA CORP /DE/

(Last) (First) (Middle)

BANK OF AMERICA CORPORATE CENTER

100 N TRYON ST

(Street)

CHARLOTTE NORTH CAROLINA 28255

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
FRANKLIN MUNICIPAL OPPORTUNITIES TRUST [ PMO ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/05/2026

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

	Form filed by One Reporting Person
X	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
Series B Auction Rate Preferred Shares	11/05/2026		J		2,748	D	(1)	3	I	See Footnotes(1)(2)(3)
Series C Auction Rate Preferred Shares	11/05/2026		J		2,474	D	(1)	3	I	See Footnotes(1)(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

BANK OF AMERICA CORP /DE/

(Last) (First) (Middle)

BANK OF AMERICA CORPORATE CENTER

100 N TRYON ST

(Street)

CHARLOTTE NORTH CAROLINA 28255

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

BANK OF AMERICA NA

(Last) (First) (Middle)

100 NORTH TRYON STREET

(Street)

CHARLOTTE NORTH CAROLINA 28255

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The Auction Rate Preferred Shares (ARPS) reported as disposed of in Table I represent shares that were beneficially owned by Bank of America, N.A. (BANA). The shares were tendered to and accepted by the Issuer on November 5, 2026, pursuant to the Tender Offer Statement filed by the Issuer with the SEC on October 1, 2026. BANA is a wholly owned subsidiary of Bank of America Corporation.

2. This statement is jointly filed by Bank of America Corporation and Bank of America, N.A. (BANA). Bank of America Corporation held an indirect interest in the securities listed in Table I by virtue of its ownership of BANA.

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.

	BANK OF AMERICA CORP /DE/ By Its: Authorized Signatory /s/ Monica Yako	11/09/2026
	BANK OF AMERICA, N.A. By Its: Authorized Signatory /s/ Monica Yako	11/09/2026
	** 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)