Sec Form 13D Filing - BANK OF AMERICA CORP (BAC) filing for BNY MELLON MUNICIPAL INCOME INC. (DMF) - 2024-12-13

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

(Amendment No. 1)

BNY MELLON MUNICIPAL INCOME, INC.

(Name of issuer)

 

VARIABLE RATE MUNIFUND TERM PREFERRED SHARES

(Title of Class of Securities)

 

05589T401

(CUSIP Number)

 

Bank of America Corporation

Bank of America Corporate Center

100 N. Tryon Street      

Charlotte, North Carolina 28255

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

November 24, 2021

(Date of Event Which Requires Filing of this Statement)

 

 

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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1	NAMES OF REPORTING PERSONS
	Bank of America Corporation 56-0906609
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP			(a)	☐
				(b)	☒
3	SEC USE ONLY
4	SOURCE OF FUNDS (SEE INSTRUCTIONS)
	WC
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)				☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER
			0
		8	SHARED VOTING POWER
			1,209
		9	SOLE DISPOSITIVE POWER
			0
		10	SHARED DISPOSITIVE POWER
			1,209
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	1,209
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)				☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
	100%
14	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	HC

*The calculation of the percentage of outstanding shares is based on 1,209 shares of VMTP shares outstanding as of September 30, 2024, as described in the Annual Report, N-CSR, filed by BNY Mellon Municipal Income, Inc. with the SEC on November 29, 2024.

1	NAMES OF REPORTING PERSONS
	Banc of America Preferred Funding Corporation 75-2939570
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP			(a)	☐
				(b)	☒
3	SEC USE ONLY
4	SOURCE OF FUNDS (SEE INSTRUCTIONS)
	WC
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)				☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER
			0
		8	SHARED VOTING POWER
			1,209
		9	SOLE DISPOSITIVE POWER
			0
		10	SHARED DISPOSITIVE POWER
			1,209
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	1,209
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)				☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
	100%
14	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	co

*The calculation of the percentage of outstanding shares is based on 1,209 shares of VMTP shares outstanding as of September 30, 2024, as described in the Annual Report, N-CSR, filed by BNY Mellon Municipal Income, Inc. with the SEC on November 29, 2024.

This Amendment No.1 (this “Amendment”) amends, as set forth below, the statement on Schedule 13D, dated July 12, 2023 and filed with the SEC on July 24, 2023, (as amended to the date hereof, the “Original Schedule 13D”) for Bank of America Corporation ("BAC") and Banc of America Preferred Funding Corporation ("BAPFC") (collectively, the "Reporting Persons") with respect to the Variable Rate MuniFund Term Preferred Shares, Series 2023-1 (“VMTP Shares”) of BNY Mellon Municipal Income, Inc. (the “Issuer”).

This amendment is being filed to disclose previously unreported trades.

Item 2 of the Original Schedule 13D is hereby amended by deleting Schedule I and Schedule II referenced therein and replacing them with Schedule I and Schedule II included with this Amendment.

The Reporting Person have effected the transactions in securities of the Issuer identified in Schedule III

Item 7 of the Original Schedule 13D is hereby amended by deleting Exhibit 99.1 and Exhibit 99.2 thereto and the insertion of the following exhibits:

Exhibit	Description of Exhibit
99.1	Joint Filing Agreement, dated as of December 13, 2024, by and among the Reporting Persons.
99.2	Power of Attorney, relating to each of the Reporting Persons.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Name		Position with Bank of America Corporation		Principal Occupation
Brian T. Moynihan		Chairman of the Board, Chief Executive Officer and Director		Chairman of the Board and Chief Executive Officer of Bank of America Corporation
Paul M. Donofrio		Vice Chair		Vice Chair of Bank of America Corporation
Thong M. Nguyen		Vice Chair, Head of Global Strategy & Enterprise Platforms		Vice Chair, Head of Global Strategy & Enterprise Platforms of Bank of America Corporation
Bruce R. Thompson		Vice Chair, Head of Enterprise Credit		Vice Chair, Head of Enterprise Credit of Bank of America Corporation
Dean C. Athanasia		President, Regional Banking		President, Regional Banking of Bank of America Corporation
James P. DeMare		President, Global Markets		President, Global Markets of Bank of America Corporation
Kathleen A. Knox		President, The Private Bank		President, The Private Bank of Bank of America Corporation
Matthew M. Koder		President, Global Corporate and Investment Banking		President, Global Corporate and Investment Banking of Bank of America Corporation
Bernard A. Mensah		President, International; CEO, Merrill Lynch International		President, International of Bank of America Corporation and CEO, Merrill Lynch International
Lindsay DeNardo Hans		President, Co-Head Merrill Wealth Management		President, Co-Head Merrill Wealth Management of Bank of America Corporation
Eric Schimpf		President, Co-Head Merrill Wealth Management		President, Co-Head Merrill Wealth Management of Bank of America Corporation
Aditya Bhasin		Chief Technology and Information Officer		Chief Technology and Information Officer of Bank of America Corporation
D. Steve Boland		Chief Administrative Officer		Chief Administrative Officer of Bank of America Corporation
Alastair Borthwick		Chief Financial Officer		Chief Financial Officer of Bank of America Corporation

Sheri Bronstein		Chief Human Resources Officer		Chief Human Resources Officer of Bank of America Corporation
Geoffrey Greener		Chief Risk Officer		Chief Risk Officer of Bank of America Corporation
Thomas M. Scrivener		Chief Operations Executive		Chief Operations Executive of Bank of America Corporation
Lauren A. Mogensen		Global General Counsel		Global General Counsel of Bank of America Corporation
Lionel L. Nowell, III		Lead Independent Director		Lead Independent Director, Bank of America Corporation; Former Senior Vice President and Treasurer, PepsiCo, Inc.
Sharon L. Allen		Director		Former Chairman, Deloitte LLP
Jose E. Almeida		Director		Chairman, President and Chief Executive Officer of Baxter International Inc.
Pierre J.P. de Weck1		Director		Former Chairman and Global Head of Private Wealth Management, Deutsche Bank AG
Arnold W. Donald		Director		Former President and Chief Executive Officer, Carnival Corporation & Carnival plc
Linda P. Hudson		Director		Former Executive Officer, The Cardea Group, LLC and Former President and Chief Executive Officer of BAE Systems, Inc.
Monica C. Lozano		Director		Lead Independent Director, Target Corporation; Former Chief Executive Officer, Former College Futures Foundation and Former Chairman, US Hispanic Media Inc.
Denise L. Ramos		Director		Former Chief Executive Officer and President of ITT Inc.
Clayton S. Rose		Director		Baker Foundation Professor of Management Practice at Harvard Business School
Michael D. White		Director		Former Chairman, President, and Chief Executive Officer of DIRECTV
Thomas D. Woods2		Director		Former Vice Chairman and Senior Executive Vice President of Canadian Imperial Bank of Commerce; Former Chairman, Hydro One Limited
Maria T. Zuber		Director		Vice President for Research and E.A., Griswold Professor of Geophysics, MIT

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Name		Position with Banc of America Preferred Funding Corporation		Principal Occupation
John J. Lawlor		Director and President		Managing Director, Municipal Markets and Public Sector Banking Executive of BofA Securities, Inc. and Bank of America, National Association
James Duffy		Managing Director		Director; MBAM BFO, The CFO Group of Bank of America, National Association
Michael I. Jentis		Managing Director		Managing Director, Head of Sales – Public Finance of BofA Securities, Inc. and Bank of America, National Association
Mona Payton		Managing Director		Managing Director, Municipal Markets Executive for Short-Term Trading of BofA Securities, Inc. and Bank of America, National Association
Edward J. Sisk		Director and Managing Director		Managing Director, Public Finance Executive of BofA Securities, Inc. and Bank of America, National Association
John B. Sprung		Director		Corporate Director
David A. Stephens		Director and Managing Director		Managing Director, Executive for Public Finance and Public Sector Credit Products of BofA Securities, Inc. and Bank of America, National Association

 

 

Bank of America Corporation and certain of its affiliates, including BofA Securities, Inc. ("BofA Securities," successor in interest to Merrill Lynch, Pierce, Fenner & Smith Incorporated) and Bank of America, N.A., have been involved in a number of civil proceedings and regulatory actions which concern matters arising in connection with the conduct of its business.  Certain of such proceedings have resulted in findings of violations of federal or state securities laws.  Such proceedings are reported and summarized in the BofA Securities Form BD as filed with the SEC, which descriptions are hereby incorporated by reference.

Schedule III

The following tables set forth all unreported transactions with respect to common stock effected by or on behalf of the Reporting Persons. All of their transactions were effectuated for cash.

COMMON STOCK