Form 3 Filed: PIMCO NY Municipal Income Fund II Director Reports Zero Holdings
Rhea-AI Filing Summary
Form 3 filing by Mark D. Michel for PNI reports that Mark D. Michel, identified as a director of PIMCO New York Municipal Income Fund II (PNI), filed an initial Section 16 beneficial ownership statement for the event dated 09/18/2025. The filing states no securities are beneficially owned by the reporting person and includes a Power of Attorney (Exhibit 24). The form was signed by an attorney-in-fact on 09/25/2025.
Positive
- None.
Negative
- Reporting director states no beneficial ownership of PNI securities as of the filing, which may be relevant to investor assessment of insider alignment
Insights
TL;DR: Director filed initial Form 3 and reports no beneficial ownership, which is notable for alignment and disclosure transparency.
The filing documents that Mark D. Michel is a director of PIMCO New York Municipal Income Fund II (PNI) and that he currently does not beneficially own any securities of the issuer. As an initial Section 16 filing, it fulfills reporting obligations under the Exchange Act. The inclusion of Exhibit 24 (Power of Attorney) and an attorney-in-fact signature indicates procedural compliance. For governance assessment, absence of ownership should be noted but cannot be interpreted further from this filing alone because it does not disclose reasons for non-ownership, timing of any future grants, or related-party arrangements.
TL;DR: Filing appears procedurally complete and timely; it documents zero beneficial ownership as required by Form 3.
The submission contains required elements: reporting person name and address, event date (09/18/2025), issuer name and ticker (PNI), relationship check (Director), and a signature executed by an attorney-in-fact on 09/25/2025. The statement "No securities are beneficially owned" is explicitly recorded, and Exhibit 24 is attached, which supports the signature authority. From a compliance perspective, this satisfies initial disclosure rules but does not provide investor-impacting transactions or holdings.