Wells Fargo (NYSE: WFC) unit sees 500 Nuveen muni preferreds redeemed

Rhea-AI Filing Summary

Wells Fargo Municipal Capital Strategies, LLC, an indirect wholly owned subsidiary of Wells Fargo & Company, reported a restructuring-type transaction involving preferred shares of Nuveen Quality Municipal Income Fund. The filing shows that 500 MuniFund Preferred Shares beneficially owned by Capital Strategies were disposed of due to a redemption by the fund. Each redeemed share carried a redemption price of $100,099.09338, consisting of a $100,000.00 liquidation preference plus $99.09338 of accrued dividends per share. Following this issuer-initiated redemption, Capital Strategies continues to beneficially own 2,988 MuniFund Preferred Shares indirectly. The statement is jointly filed by Wells Fargo & Company and Capital Strategies, with Wells Fargo’s interest arising through its ownership of Capital Strategies.

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

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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 CA 94104

(City) (State) (Zip)

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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/11/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

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
MuniFund Preferred Shares	03/11/2026		J(1)(2)		500	D(1)	(1)	2,988	I	By 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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

WELLS FARGO & COMPANY/MN

(Last) (First) (Middle)

420 MONTGOMERY STREET

(Street)

SAN FRANCISCO CA 94104

(City) (State) (Zip)

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^*

Wells Fargo Municipal Capital Strategies, LLC

(Last) (First) (Middle)

30 HUDSON YARDS

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The 500 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 $100,099.09338 per share (which includes a liquidation preference of $100,000.00 per share and accrued dividends of $99.09338 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 Signer	03/13/2026
	WELLS FARGO MUNICIPAL CAPITAL STRATEGIES, LLC, by: /s/ Daniel Frizsell, Vice President	03/13/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transaction did Wells Fargo report related to Nuveen Quality Municipal Income Fund (NAD)?

Wells Fargo reported that 500 MuniFund Preferred Shares of Nuveen Quality Municipal Income Fund were disposed of. The shares, beneficially owned by Wells Fargo Municipal Capital Strategies, LLC, were redeemed by the fund rather than sold on the open market.

Who actually held the Nuveen MuniFund Preferred Shares in the Wells Fargo Form 4 filing?

The 500 MuniFund Preferred Shares were beneficially owned by Wells Fargo Municipal Capital Strategies, LLC. Wells Fargo & Company reported an indirect interest through its ownership of this wholly owned subsidiary, rather than holding the preferred shares directly itself.

At what price were the 500 Nuveen MuniFund Preferred Shares redeemed?

Each of the 500 MuniFund Preferred Shares was redeemed at $100,099.09338 per share. This redemption price included a $100,000.00 liquidation preference plus $99.09338 of accrued dividends for every redeemed preferred share.

How many Nuveen MuniFund Preferred Shares does Wells Fargo’s subsidiary hold after the redemption?

After the redemption of 500 shares, Wells Fargo Municipal Capital Strategies, LLC reports beneficial ownership of 2,988 MuniFund Preferred Shares. This remaining position reflects the preferred shares still held indirectly following the issuer’s redemption transaction.

Is the Wells Fargo Form 4 for Nuveen Quality Municipal Income Fund an open-market sale?

No, the Form 4 does not report an open-market sale. It shows the 500 MuniFund Preferred Shares were disposed of through a redemption by Nuveen Quality Municipal Income Fund, at a stated redemption price including liquidation preference and accrued dividends.

Why did Wells Fargo & Company file jointly with Wells Fargo Municipal Capital Strategies, LLC?

The statement was filed jointly because Wells Fargo & Company holds an indirect interest in the preferred shares. That interest arises through its indirect ownership of Wells Fargo Municipal Capital Strategies, LLC, which is the entity that beneficially owned the MuniFund Preferred Shares.