SCHEDULE 14A
(Rule 14a-101)
SCHEDULE 14A
(Rule 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
(Amendment No. )
Filed by the Registrant ☑ Filed by a Party other than the Registrant ☐
Check the appropriate box:
☐ Preliminary Proxy Statement
☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☑ Definitive Joint Proxy Statement
☐ Definitive Additional Materials
☐ Soliciting Material Under Rule 14a-12
PIMCO Municipal Income Fund
PIMCO California Municipal Income Fund
PIMCO New York Municipal Income Fund
PIMCO Municipal Income Fund II
PIMCO California Municipal Income Fund II
PIMCO New York Municipal Income Fund II
PIMCO Municipal Income Fund III
PIMCO California Municipal Income Fund III
PIMCO New York Municipal Income Fund III
(Name of Registrant as Specified in its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
☑ | No fee required. | |||
☐ | Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. | |||
(1) | Title of each class of securities to which transaction applies: | |||
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(2) | Aggregate number of securities to which transaction applies: | |||
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(3) | Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): | |||
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(4) | Proposed maximum aggregate value of transaction: | |||
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☐ | Fee paid previously with preliminary materials: | |||
☐ | Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. | |||
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NOTICE OF JOINT ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 201718, 2020
PIMCO MUNICIPAL INCOME FUND (“PMF”)
PIMCO CALIFORNIA MUNICIPAL INCOME FUND (“PCQ”)
PIMCO NEW YORK MUNICIPAL INCOME FUND (“PNF”)
PIMCO MUNICIPAL INCOME FUND II (“PML”)
PIMCO CALIFORNIA MUNICIPAL INCOME FUND II (“PCK”)
PIMCO NEW YORK MUNICIPAL INCOME FUND II (“PNI”)
PIMCO MUNICIPAL INCOME FUND III (“PMX”)
PIMCO CALIFORNIA MUNICIPAL INCOME FUND III (“PZC”)
PIMCO NEW YORK MUNICIPAL INCOME FUND III (“PYN”)650 Newport Center Drive,
1633 Broadway
New York, New York 10019Newport Beach, California 92660
To the Shareholders of PIMCO Municipal Income Fund (“PMF”), PIMCO California Municipal Income Fund (“PCQ”), PIMCO New York Municipal Income Fund (“PNF”), PIMCO Municipal Income Fund II (“PML”), PIMCO California Municipal Income Fund II (“PCK”), PIMCO New York Municipal Income Fund II (“PNI”), PIMCO Municipal Income Fund III (“PMX”), and PIMCO California Municipal Income Fund III (“PZC”) and PIMCO New York Municipal Income Fund III (“PYN”) (each, a “Fund” and, collectively, the “Funds”):
Notice is hereby given that a Joint Annual Meeting of Shareholders of each Fund (the “Meeting”) will be held at the offices of Pacific Investment Management Company LLC (“PIMCO” or the “Manager”), at 1633 Broadway, between West 50th and West 51st Streets, 42nd Floor, New York, New York 10019,650 Newport Center Drive, Newport Beach, California 92660, on Tuesday,Friday, December 19, 2017,18, 2020, with the Meeting to be held at 10:308:00 A.M., EasternPacific Time, for the following purposes, which are more fully described in the accompanying Proxy Statement:1
1. | To elect Trustees of each Fund, each to hold office for the term indicated and until his or her successor shall have been elected and qualified; and |
1 | The principal executive offices of the Funds are located at 1633 Broadway, New York, New York 10019. |
PIMCO is sensitive to the health and travel concerns of the Funds’ shareholders and the evolving recommendations from public health officials. Due to the difficulties arising from the coronavirus known as COVID-19, the date, time, location or means of conducting the Meeting may change. In the event of such a change, the Funds will issue a press release announcing the change and file the announcement on the Securities and Exchange Commission’s (the “SEC”) EDGAR system, among other steps, but may not deliver additional soliciting materials to shareholders or otherwise amend the Funds’ proxy materials. Although no decision has been made, the Funds may consider imposing additional procedures or limitations on Meeting attendees or conducting the Meeting as a “virtual” shareholder meeting through the internet or other electronic means in lieu of an in-person meeting, subject to any restrictions imposed by applicable law. If the Meeting will be held virtually in whole or in part, a Fund will notify its shareholders of such plans in a timely manner and disclose clear directions as to the logistical details of the “virtual” meeting, including how shareholders can remotely access, participate in and vote at such meeting. The Funds plan to announce these changes, if any, at pimco.com/en-us/our-firm/press-release, and encourage you to check this website prior to the Meeting if you plan to attend.
2. | To transact such other business as may properly come before the Meeting or any adjournment(s) or postponement(s) thereof. |
The Board of Trustees of each Fund has fixed the close of business on October 17, 201719, 2020 as the record date for the determination of shareholders entitled to receive notice of, and to vote at, the Meeting or any adjournment(s) or postponement(s) thereof. The enclosed proxy is being solicited on behalf of the Board of Trustees of each Fund.
By order of the Board of Trustees of each Fund |
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Wu-Kwan Kit |
Vice President, Senior Counsel and Secretary |
New York, New YorkNewport Beach, California
October 23, 201730, 2020
It is important that your shares be represented at the Meeting in person or by proxy, no matter how many shares you own. If you do not expect to attend the Meeting, please complete, date, sign and return the applicable enclosed proxy or proxies in the accompanying envelope, which requires no postage if mailed in the United States. Please mark and mail your proxy or proxies promptly in order to save any additional costs of further proxy solicitations and in order for the Meeting to be held as scheduled.
PIMCO MUNICIPAL INCOME FUND (“PMF”)
PIMCO CALIFORNIA MUNICIPAL INCOME FUND (“PCQ”)
PIMCO NEW YORK MUNICIPAL INCOME FUND (“PNF”)
PIMCO MUNICIPAL INCOME FUND II (“PML”)
PIMCO CALIFORNIA MUNICIPAL INCOME FUND II (“PCK”)
PIMCO NEW YORK MUNICIPAL INCOME FUND II (“PNI”)
PIMCO MUNICIPAL INCOME FUND III (“PMX”)
PIMCO CALIFORNIA MUNICIPAL INCOME FUND III (“PZC”)
PIMCO NEW YORK MUNICIPAL INCOME FUND III (“PYN”)650 Newport Center Drive,
1633 BroadwayNewport Beach, California 92660
New York, New York 10019
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE JOINT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 201718, 2020
This Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 20162019 for PMF, PCQ, PNF, PML, PCK, PNI, PMX PZC and PYNPZC are also available at pimco.com/closedendfunds.
PROXY STATEMENT
October 23, 201730, 2020
FOR THE JOINT ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 201718, 2020
INTRODUCTION
This Proxy Statement is furnished in connection with the solicitation by the Boards of Trustees (each a “Board”) of the shareholders of each of PIMCO Municipal Income Fund (“PMF”), PIMCO California Municipal Income Fund (“PCQ”), PIMCO New York Municipal Income Fund (“PNF”), PIMCO Municipal Income Fund II (“PML”), PIMCO California Municipal Income Fund II (“PCK”), PIMCO New York Municipal Income Fund II (“PNI”), PIMCO Municipal Income Fund III (“PMX”), and PIMCO California Municipal Income Fund III (“PZC”) and PIMCO New York Municipal Income Fund III (“PYN”) (each, a “Fund” and, collectively, the “Funds”) of proxies to be voted at the Joint Annual Meeting of Shareholders of each Fund and any adjournment(s) or postponement(s) thereof. The term “Meeting” is used throughout this joint Proxy
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Statement to refer to the Annual Meeting of Shareholders of each Fund, as dictated by the context. The Meeting will be held at the offices of Pacific Investment
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Management Company LLC (“PIMCO” or the “Manager”), at 650 Newport Center Drive, Newport Beach, California 92660, on Friday, December 18, 2020, at 8:00 A.M, Pacific Time. The principal executive offices of the Funds are located at 1633 Broadway, between West 50thand West 51st Streets, 42nd Floor, New York, New York 10019, on Monday, December 19, 2017, at 10:30 A.M Eastern Time.10019.
The Notice of Joint Annual Meeting of Shareholders (the “Notice”), this Proxy Statement and the enclosed proxy cards are first being sent to Shareholders on or about November 3, 2017.12, 2020.
The Meeting is scheduled as a joint meeting of the holders of all shares of the Funds, which consist of holders of common shares of each Fund (the “Common Shareholders”) and holders of preferred shares, which include Auction Rate Preferred Shares (“ARPS”) and, for each Fund other than PNF, Variable Rate Municipal Term Preferred Shares (“VMTPS”), of each Fund (the “Preferred Shareholders” and, together with the Common Shareholders, the “Shareholders”). The Shareholders of each Fund are expected to consider and vote on similar matters. The Shareholders of each Fund will vote on whether to elect the applicable proposal set forth hereinBoards’ nominees for Trustees of the Funds (the “Board Nominees”) (the “Proposal”) and on any other matters that may properly be presentedarise for vote by the Shareholders of that Fund. The outcome of voting by the Shareholders of one Fund does not affect the outcome for the other Funds.
The Board of each Fund has fixed the close of business on October 17, 201719, 2020 as the record date (the “Record Date”) for the determination of Shareholders of each Fund entitled to notice of, and to vote at, the Meeting. The Shareholders of each Fund on the Record Date will be entitled to one vote per share on each matter to which they are entitled to vote and that is to be voted on by Shareholders of the Fund, and a fractional vote with respect to fractional shares, with no cumulative voting rights in the election of Trustees. The following table sets forth the number of common shares (“Common Shares”) and preferred shares (“Preferred Shares” and, together with the Common Shares, the “Shares”) issued and outstanding of each Fund at the close of business on the Record Date:
Outstanding Common Shares | Outstanding Preferred Shares | ||||||||||||||||||||||
Outstanding Common Shares | Outstanding Preferred Shares | ARPS | VMTPS | ||||||||||||||||||||
PMF | 25,667,826.000 | 7,600 | 25,915,956 | 6,668 | 233 | ||||||||||||||||||
PCQ | 18,725,901.000 | 6,000 | 18,866,090 | 4,825 | 293 | ||||||||||||||||||
PNF | 7,754,216.000 | 1,880 | 7,826,918 | 1,641 | None | ||||||||||||||||||
PML | 61,880,311.000 | 14,680 | 62,920,663 | 11,931 | 687 | ||||||||||||||||||
PCK | 31,968,166.000 | 6,520 | 32,135,766 | 5,147 | 343 | ||||||||||||||||||
PNI | 11,124,517.000 | 3,160 | 11,188,502 | 2,320 | 210 | ||||||||||||||||||
PMX | 32,821,509.000 | 7,560 | 33,135,961 | 6,188 | 343 | ||||||||||||||||||
PZC | 22,234,579.000 | 5,000 | 22,373,736 | 3,915 | 271 | ||||||||||||||||||
PYN | 5,702,855.000 | 1,280 |
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The classes of Shares listed for each Fund in the table above are the only classes of Shares currently authorizedissued by that Fund.
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At the Meeting, with respect to the election of Trustees and onOn each other proposal to be brought before the Meeting, the Preferred Shareholders if any, will have equal voting rights (i.e., one vote per Share) with the applicable Fund’s Common Shareholders and will vote together with Common Shareholders as a single class. As summarizedIn connection with the Boards’ nomination process for the Meeting, all current Trustees who have previously been nominated by the Board (the “Board-Nominated Trustees”) voted in favor of the table below:nominations of all Board Nominees standing for re-election.
PMF/PCQ/PNF/PML/PCK/PNI:
The Common and Preferred Shareholders of each Fund, voting together as a single class, have the right to vote on there-election election of Craig A. Dawson and Bradford K. GallagherJoseph B. Kittredge, Jr. and the electionre-election of William B. Ogden, IV and John C. ManeyDavid N. Fisher, as a TrusteeTrustees of each Fund.1
PMX/PZC/PYN:PZC:
The Common and Preferred Shareholders of each Fund, voting together as a single class, have the right to vote on the election of Joseph B. Kittredge, Jr. and the re-election of Craig A. Dawson and Deborah A. DeCotis, and the election of William B. Ogden, IV and John C. ManeyDavid N. Fisher, as a TrusteeTrustees of each Fund.1
Summary
Proposal | Common Shareholders | Preferred Shareholders | ||||||
Election/Re-Election of Trustees | ||||||||
PMF/PCQ/PNF/PML/PCK/PNI | ||||||||
Independent Trustees/Nominees* | ||||||||
Election of Joseph B. Kittredge, Jr. | ✓ | ✓ | ||||||
| ✓ | ✓ | ||||||
Interested Trustees/Nominees | ||||||||
| ✓ | ✓ | ||||||
PMX/PZC | ||||||||
Independent Trustees/Nominees* | ||||||||
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Re-election of | ✓ | ✓ | ||||||
Election of | ✓ | ✓ | ||||||
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Re-election | ✓ | ✓ |
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| Common Shareholders | Shareholders | ||||||||||
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Re-election of | ||||||||||||
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| ✓ | ✓ |
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* | “Independent Trustees” or “Independent Nominees” are those Trustees or nominees who are not “interested persons,” as defined in the Investment Company Act of 1940, as amended (the “1940 Act”), of each Fund. |
** | Mr. |
You may vote by mail by returning a properly executed proxy card, by internet by going to the website listed on the proxy card, by telephone using the toll-free number listed on the proxy card, or in person by attending the Meeting. Shares represented by duly executed and timely delivered proxies will be voted as instructed on the proxy. If you execute and mail the enclosed proxy and no choice is indicated for the election or re-electionof Trustees listed in the attached Notice, your proxy will be voted in favor of the election or re-election, as applicable, of all nominees. At any time before it has been voted, your proxy may be revoked in one of the following ways: (i) by timely delivering a signed, written letter of revocation to the Secretary of the applicable Fund at 1633 Broadway, New York, New York 10019,650 Newport Center Drive, Newport Beach, CA 92660, (ii) by properly executing and timely submitting a later-dated proxy vote to the Funds, or (iii) by attending the Meeting and voting in person. Please call1-(866)406-22881-866-406-2288 for information on how to obtain directions to be able to attend the Meeting and vote in person or for information or assistance regarding how to vote by telephone, mail or by internet. If any proposal, other than the Proposal set forth herein, properly comes before the Meeting, the persons named as proxies will vote in their sole discretion.
The principal executive offices of the Funds are located at 1633 Broadway, New York, New York 10019. PIMCO serves as the investment manager of each Fund. Additional information regarding the Manager may be found under “Additional Information — Investment Manager” below.
The solicitation will be primarily by mail and by telephone and the cost of soliciting proxies for each Fund will be borne by PIMCO. Certain officers of the Funds and certain officers and employees of the Manager or its affiliates (none of whom will receive additional compensation therefor) may solicit proxies by telephone, mail,e-mail and personal interviews. Anyout-of-pocket expenses incurred in connection with the solicitation will be borne by PIMCO.
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Unless a Fund receives contrary instructions, only one copy of this Proxy Statement will be mailed to a given address where two or more Shareholders share that address and also share the same surname. Additional copies of the Proxy Statement will be delivered promptly upon request. Requests may be sent to the Secretary of the Fund c/o Pacific Investment Management Company LLC, 1633 Broadway, New York, New York 10019,650 Newport Center Drive, Newport Beach, California 92660, or by calling1-(866)406-22881-866-406-2288 on any business day.
As of September 30, 2017,the Record Date, the Trustees, nominees and the officers of each Fund as a group and individually beneficially owned less than one percent (1%) of each Fund’s outstanding Shares. ToAs of the Record Date, to the knowledge of the Funds, the following entitiesother than as set forth below, no person beneficially owned more than five percent (5%) of a class ofthe outstanding shares of a Fund:
Beneficial Owner | Fund | Percentage of Ownership of Class | ||||
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CHARLES SCHWAB & CO INC 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | ||||||
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E*TRADE SECURITIES LLC 1271 AVENUE OF THE AMERICAS 14TH FL NEW YORK, NY 10020 | ||||||
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MERRILL LYNCH PROFESSIONAL CLEARING CORP. 222 BROADWAY NEW YORK, NY 10038 | 6.77% of Common Shares | |||||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER, PLAZA 2 JERSEY CITY, NJ 07311 | PCK | 8.38% of Common Shares | ||||
NATIONAL FINANCIAL SERVICES LLC 200 LIBERTY ST, ONE WORLD FINANCIAL CENTER NEW YORK NY 10281-1003 | PCK | 9.66% of Common Shares | ||||
TD AMERITRADE INC PO BOX 2226 OMAHA NE 68103-2226 | PCK | 13.00% of Common Shares |
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Beneficial Owner | Fund | Percentage of Ownership of Class | ||||
UBS
| FINANCIAL 499 WASHINGTON BLVD 9TH F JERSEY CITY, NJ 07310-2055 | PCK | ||||
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WELLS FARGO CLEARING SERVICES, LLC 1 NORTH JEFFERSON AVE SAINT LOUIS, MO 63103-2523 | PCK | 7.81% of Common Shares | ||||
BANK OF NEW YORK MELLON ONE WALL STREET NEW YORK, NEW YORK 10286 | PCK | 9.18% of Preferred Shares | ||||
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PERSHING LLC
| 1 PERSHING PLZ JERSEY CITY, NJ 07399-000 | PCK | 15.12% of Preferred Shares | |||
UBS SECURITIES LLC 677 WASHINGTON BOULEVARD, STAMFORD, CT 6912 | PCK | 68.01% of Preferred Shares | ||||
BANK OF NEW YORK MELLON ONE WALL STREET NEW YORK, NEW YORK 10286 | PCK | 6.25% of Preferred Shares | ||||
CHARLES SCHWAB & CO INC 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | PCQ | 21.05% of Common Shares | ||||
MERRILL LYNCH PROFESSIONAL CLEARING CORP. 222 BROADWAY NEW YORK, NY 10038 | PCQ | 8.26% of Common Shares | ||||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER, PLAZA 2 JERSEY CITY, NJ 07311 | PCQ | 10.82% of Common Shares | ||||
NATIONAL FINANCIAL SERVICES LLC 200 LIBERTY ST, ONE WORLD FINANCIAL CENTER NEW YORK NY 10281-1003 | PCQ | 13.97% of Common Shares | ||||
TD AMERITRADE INC PO BOX 2226 OMAHA NE 68103-2226 | PCQ | 9.36% of Common Shares |
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Beneficial Owner | Fund | Percentage of Ownership of Class | ||
UBS FINANCIAL 499 WASHINGTON BLVD 9TH F JERSEY CITY, NJ 07310-2055 | PCQ | 5.02% of Common Shares | ||
WELLS FARGO CLEARING SERVICES, LLC 1 NORTH JEFFERSON AVE SAINT LOUIS, MO 63103-2523 | PCQ | 7.35% of Common Shares | ||
UBS SECURITIES LLC 677 WASHINGTON BOULEVARD, STAMFORD, CT 6912 | PCQ | 85.37% of Preferred Shares | ||
BANK OF NEW YORK MELLON ONE WALL STREET NEW YORK, NEW YORK 10286 | PCQ | 5.72% of Preferred Shares | ||
CHARLES SCHWAB & CO INC 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | PMF | 15.37% of Common Shares | ||
MERRILL LYNCH PROFESSIONAL CLEARING CORP. 222 BROADWAY NEW YORK, NY 10038 | PMF | 5.36% of Common Shares | ||
NATIONAL FINANCIAL SERVICES LLC 200 LIBERTY ST, ONE WORLD FINANCIAL CENTER NEW YORK NY 10281-1003 | PMF | 15.98% of Common Shares | ||
TD AMERITRADE INC PO BOX 2226 OMAHA NE 68103-2226 | PMF | 11.86% of Common Shares | ||
WELLS FARGO CLEARING SERVICES, LLC 1 NORTH JEFFERSON AVE SAINT LOUIS, MO 63103-2523 | PMF | 5.64% of Common Shares | ||
OPPENHEIMER & CO., INC. 125 BROAD STREET, NEW YORK, NY 10004 | PMF | 7.10% of Preferred Shares | ||
UBS SECURITIES LLC 677 WASHINGTON BOULEVARD, STAMFORD, CT 6912 | PMF | 80.99% of Preferred Shares |
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Beneficial Owner | Fund | Percentage of Ownership of Class | ||
CHARLES SCHWAB & CO INC 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | PNF | 9.43% of Common Shares | ||
MERRILL LYNCH PROFESSIONAL CLEARING CORP. 222 BROADWAY NEW YORK, NY 10038 | PNF | 8.32% of Common Shares | ||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER, PLAZA 2 JERSEY CITY, NJ 07311 | PNF | 10.80% of Common Shares | ||
NATIONAL FINANCIAL SERVICES LLC 200 LIBERTY ST, ONE WORLD FINANCIAL CENTER NEW YORK NY 10281-1003 | PNF | 18.22% of Common Shares | ||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY, NJ 07399-000 | PNF | 7.66% of Common Shares | ||
TD AMERITRADE INC PO BOX 2226 OMAHA NE 68103-2226 | PNF | 6.05% of Common Shares | ||
UBS FINANCIAL 499 WASHINGTON BLVD 9TH F JERSEY CITY, NJ 07310-2055 | PNF | 8.09% of Common Shares | ||
WELLS FARGO CLEARING SERVICES, LLC 1 NORTH JEFFERSON AVE SAINT LOUIS, MO 63103-2523 | PNF | 5.94% of Common Shares | ||
BANK OF NEW YORK MELLON ONE WALL STREET NEW YORK, NEW YORK 10286 | PNF | 16.64% of Preferred Shares | ||
UBS SECURITIES LLC 677 WASHINGTON BOULEVARD, STAMFORD, CT 6912 | PNF | 78.37% of Preferred Shares | ||
CHARLES SCHWAB & CO INC 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | PML | 10.71% of Common Shares |
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Beneficial Owner | Fund | Percentage of Ownership of Class | ||
MERRILL LYNCH PROFESSIONAL CLEARING CORP. 222 BROADWAY NEW YORK, NY 10038 | PML | 16.74% of Common Shares | ||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER, PLAZA 2 JERSEY CITY, NJ 07311 | PML | 8.83% of Common Shares | ||
NATIONAL FINANCIAL SERVICES LLC 200 LIBERTY ST, ONE WORLD FINANCIAL CENTER NEW YORK NY 10281-1003 | PML | 13.16% of Common Shares | ||
TD AMERITRADE INC PO BOX 2226 OMAHA NE 68103-2226 | PML | 9.56% of Common Shares | ||
UBS FINANCIAL 499 WASHINGTON BLVD 9TH F JERSEY CITY, NJ 07310-2055 | PML | 5.46% of Common Shares | ||
WELLS FARGO CLEARING SERVICES, LLC 1 NORTH JEFFERSON AVE SAINT LOUIS, MO 63103-2523 | PML | 6.97% of Common Shares | ||
BANK OF NEW YORK MELLON ONE WALL STREET NEW YORK, NEW YORK 10286 | PML | 5.61% of Preferred Shares | ||
OPPENHEIMER & CO., INC. 125 BROAD STREET, NEW YORK, NY 10004 | PML | 5.89% of Preferred Shares | ||
| PML | 5.77% of Preferred Shares | ||
UBS SECURITIES LLC 677 WASHINGTON BOULEVARD, STAMFORD, CT 6912 | PML | 73.61% of Preferred Shares | ||
BANK OF NEW YORK MELLON ONE WALL STREET NEW YORK, NEW YORK 10286 | PML | 5.44% of Preferred Shares |
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Beneficial Owner | Fund | Percentage of Ownership of Class | |||
BANK OF NEW YORK MELLON ONE WALL STREET NEW YORK, NEW YORK 10286 | PNI | ||||
| PNI | 11.19% of Common Shares | |||
MERRILL LYNCH PROFESSIONAL CLEARING CORP. 222 BROADWAY NEW YORK, NY 10038 | PNI | 6.72% of Common Shares | |||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER, PLAZA 2 JERSEY CITY, NJ 07311 | PNI | 7.46% of Common Shares | |||
NATIONAL FINANCIAL SERVICES LLC 200 LIBERTY ST, ONE WORLD FINANCIAL CENTER NEW YORK NY 10281-1003 | PNI | 16.13% of Common Shares | |||
TD AMERITRADE INC PO BOX 2226 OMAHA NE 68103-2226 | PNI | 5.09% of Common Shares | |||
UBS FINANCIAL 499 WASHINGTON BLVD 9TH F JERSEY CITY, NJ 07310-2055 | PNI | 5.31% of Common Shares | |||
WELLS FARGO CLEARING SERVICES, LLC 1 NORTH JEFFERSON AVE SAINT LOUIS, MO 63103-2523 | PNI | 7.78% of Common Shares | |||
BANK OF NEW YORK MELLON ONE WALL STREET NEW YORK, NEW YORK 10286 | PNI | 9.53% of Preferred Shares | |||
UBS
| PNI | 78.10% of Preferred Shares | |||
BANK OF NEW YORK MELLON ONE WALL STREET NEW YORK, NEW YORK 10286 | PNI | 8.30% of Preferred Shares |
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Beneficial Owner | Fund | Percentage of Ownership of Class | ||
CHARLES SCHWAB & CO INC 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | PMX | 11.52% of Common Shares | ||
MERRILL LYNCH PROFESSIONAL CLEARING CORP. 222 BROADWAY NEW YORK, NY 10038 | PMX | 6.87% of Common Shares | ||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER, PLAZA 2 JERSEY CITY, NJ 07311 | PMX | 5.97% of Common Shares | ||
NATIONAL FINANCIAL SERVICES LLC 200 LIBERTY ST, ONE WORLD FINANCIAL CENTER NEW YORK NY 10281-1003 | PMX | 15.06% of Common Shares | ||
TD AMERITRADE INC PO BOX 2226 OMAHA NE 68103-2226 | PMX | 11.47% of Common Shares | ||
UBS FINANCIAL 499 WASHINGTON BLVD 9TH F JERSEY CITY, NJ 07310-2055 | PMX | 6.06% of Common Shares | ||
WELLS FARGO CLEARING SERVICES, LLC 1 NORTH JEFFERSON AVE SAINT LOUIS, MO 63103-2523 | PMX | 8.53% of Common Shares | ||
PERSHING LLC 1 PERSHING PLZ JERSEY CITY, NJ 07399-000 | PMX | 8.56% of Preferred Shares | ||
UBS
| PMX | 78.44% of Preferred Shares | ||
BANK OF NEW YORK MELLON ONE WALL STREET NEW YORK, NEW YORK 10286 | PMX | 5.25% of Preferred Shares | ||
BANK OF NEW YORK MELLON ONE WALL STREET NEW YORK, NEW YORK 10286 | PZC | 6.60% of Common Shares |
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Beneficial Owner | Fund | Percentage of Ownership of Class | ||||
CHARLES SCHWAB & CO INC 101 MONTGOMERY ST SAN FRANCISCO CA 94104-4151 | PZC | 20.76% of Common Shares | ||||
MERRILL LYNCH PROFESSIONAL CLEARING CORP. 222 BROADWAY NEW YORK, NY 10038 | PZC | 6.90% of Common Shares | ||||
MORGAN STANLEY SMITH BARNEY HARBORSIDE FINANCIAL CENTER, PLAZA 2 JERSEY CITY, NJ 07311 | PZC | 7.27% of Common Shares | ||||
NATIONAL FINANCIAL SERVICES LLC 200 LIBERTY ST, ONE WORLD FINANCIAL CENTER NEW YORK NY 10281-1003 | PZC | 8.32% of Common Shares | ||||
TD AMERITRADE INC PO BOX 2226 OMAHA NE 68103-2226 | PZC | 9.54% of Common Shares | ||||
UBS FINANCIAL 499 WASHINGTON BLVD 9TH F JERSEY CITY, NJ 07310-2055 | PZC | 8.04% of Common Shares | ||||
WELLS FARGO CLEARING SERVICES, LLC 1 NORTH JEFFERSON AVE SAINT LOUIS, MO 63103-2523 | PZC | 8.34% of Common Shares | ||||
BANK OF NEW YORK MELLON ONE WALL STREET NEW YORK, NEW YORK 10286 | PZC | 5.64% of Preferred Shares | ||||
| ||||||
| 80.00% of Preferred Shares | |||||
BANK OF NEW YORK MELLON ONE WALL STREET NEW YORK, NEW YORK 10286 | PZC | 6.47% of Preferred Shares |
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PROPOSAL: ELECTION OF TRUSTEES
In accordance with each Fund’s Amended and Restated Agreement and Declaration of Trust (each, a “Declaration”), the Trustees have been divided into the following three classes (each a “Class”): Class I, Class II and Class III. The expiration dates of the classes are described below and each Trustee will remain in office until the end of his or her term and when his or her successor is elected and qualified. The Governance and Nominating Committee and the Board of each applicable Fund hashave recommended the nominees listed herein for election orre-election, as applicable, as Trustees by the Shareholders of the applicable Funds.
PMF/PCQ/PNF/PML/PCK/PNI. With respect to PMF, PCQ, PNF, PML, PCK and PNI, the term of office of the Class III Trustees will expire at the
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Meeting; the term of office of the Class I Trustees will expire at the annual meeting of Shareholders during the 2018 fiscal year (i.e., the annual meeting held during the fiscal year running from January 1, 2018 through December 31, 2018); and the term of office of the Class II Trustees will expire at the annual meeting of Shareholders held during the 2019 fiscal year (i.e., the annual meeting during the fiscal year running from January 1, 2019 through December 31, 2019). Currently, Craig A. Dawson, John C. Maney and Bradford K. Gallagher are Class III Trustees and Mr. Ogden is a Class I Trustee. The Nominating Committee of each Fund has recommended to the Board that Messrs. Dawson and Gallagher be nominated forre-election by the Common Shareholders and Preferred Shareholders, voting as a single class, as Class III Trustees, that Mr. Maney be nominated for election by the Common Shareholders and Preferred Shareholders, voting as a single class, as a Class I Trustee and that Mr. Ogden be nominated for election by the Common Shareholders and Preferred Shareholders, voting as a single class, as a Class III Trustee, at the Meeting. Consistent with each Fund’s Declaration, ifre-elected, the nominees shall hold office for terms coinciding with the Classes of Trustees to which they have been designated. Therefore, ifre-elected or elected, as applicable, at the Meeting, Messrs. Dawson, Gallagher and Ogden will serve terms consistent with the Class III Trustees, which will expire at each Fund’s annual meeting of Shareholders held during the 2020 fiscal year (i.e., the annual meeting held during the fiscal year running from January 1, 2020 through December 31, 2020), and Mr. Maney will serve a term consistent with the Class I Trustees, which will expire at the end of each Fund’s annual meeting of Shareholders held during the 2018 fiscal year (i.e., the annual meeting held during the fiscal year running from January 1, 2018 through December 31, 2018).
PMX/PZC/PYN.With respect to PMX, PZC and PYN, the term of office of the Class III Trustees will expire at the Meeting; the term of office of the Class I Trustees will expire at the annual meeting of Shareholders held during the 20182021 fiscal year (i.e., the annual meeting held during the fiscal year running from January 1, 20182021 through December 31, 2018)2021); and the term of office of the Class II Trustees will expire at the annual meeting of Shareholders held during the 20192022 fiscal year (i.e., the annual meeting held during the fiscal year running from January 1, 20192022 through December 31, 2019)2022). Currently, CraigJames A. Dawson, John C. ManeyJacobson, Joseph B. Kittredge, Jr., William B. Ogden, IV and Deborah A. DeCotisDavid N. Fisher are Class III TrusteesTrustees. The Governance and Mr. Ogden is a Class I Trustee. The Nominating Committee of each Fund has recommended to the Board that Ms. DeCotisMessrs. Kittredge, Ogden and Mr. DawsonFisher be nominated for election or re-election, as applicable, by the Common Shareholders and Preferred Shareholders, voting as a single class, as Class III Trustees, that Mr. Maney be nominated for election by the Common Shareholders and Preferred Shareholders, voting as a single class, as a Class I Trustee and that Mr. Ogden be nominated for election by the Common Shareholders and Preferred Shareholders, voting as a single class, as a Class III
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Trustee, at the Meeting.Trustees.2 Consistent with each Fund’s Declaration, if elected or re-elected, the nominees shall hold office for terms coinciding with the Classes of Trustees to which they have been designated. Therefore, if elected or re-elected or elected, as applicable, at the Meeting, Ms. DeCotisMessrs. Kittredge, Ogden and Messrs. Dawson and OgdenFisher will serve terms consistent with the Class III Trustees, which will expire at each Fund’s annual meeting of Shareholders held during the 20202023 fiscal year (i.e., the annual meeting held during the fiscal year running from January 1, 20202023 through December 31, 2020),2023).
PMX/PZC. With respect to PMX and PZC, the term of office of the Class III Trustees and Mr. ManeyKittredge will serve aexpire at the Meeting; the term consistent withof office of the Class I Trustees which will expire at the end of each Fund’s annual meeting of Shareholders held during the 20182021 fiscal year (i.e., the annual meeting held during the fiscal year
2 | James A. Jacobson is also currently a Class III Trustee of PMF, PCQ, PNF, PML, PCK and PNI, and his term will expire at the Meeting. Due to his scheduled retirement from the Board of all PIMCO Sponsored Closed-End Funds at the end of 2020, he is not standing for re-election as a Trustee of the Funds at the Meeting, and he will no longer be a Trustee of the Funds following the Meeting. |
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running from January 1, 2021 through December 31, 2021); and the term of office of the Class II Trustees will expire at the annual meeting of Shareholders held during the 2022 fiscal year (i.e., the annual meeting held during the fiscal year running from January 1, 20182022 through December 31, 2018)2022). Currently, Deborah A. DeCotis, James A. Jacobson, William B. Ogden, IV and David N. Fisher are Class III Trustees, and Joseph B. Kittredge, Jr. is a Class II Trustee. The Governance and Nominating Committee of each Fund has recommended to the Board that Mr. Kittredge be nominated for election as a Class II Trustee by the Common Shareholders and Preferred Shareholders, voting as a single class, and that Ms. DeCotis and Messrs. Ogden and Fisher be nominated for re-election by the Common Shareholders and Preferred Shareholders, voting as a single class, as Class III Trustees. Consistent with each Fund’s Declaration, if elected or re-elected, the nominees shall hold office for terms coinciding with the Classes of Trustees to which they have been designated. Therefore, if elected or re-elected at the Meeting, Mr. Kittredge will serve a term consistent with the Class II Trustees, which will expire at each Fund’s annual meeting of Shareholders held during the 2022 fiscal year (i.e., the annual meeting held during the fiscal year running from January 1, 2022 through December 31, 2022), and Ms. DeCotis and Messrs. Ogden and Fisher will serve terms consistent with the Class III Trustees, which will expire at each Fund’s annual meeting of Shareholders held during the 2023 fiscal year (i.e., the annual meeting held during the fiscal year running from January 1, 2023 through December 31, 2023).
AllCertain current members of the Board of each Fund are and will remain, if elected, “Continuing Trustees,” as such term is defined in the Declaration of the applicable Fund. In the case of PMF, PCQ and PNF, a “Continuing Trustee” is a Trustee that is not a person or an affiliated person of a person who is entering into or proposing to enter into certain transactions with the applicable Fund, as specified in such Fund’s Declaration, and who has either served as a Trustee for a period of at least twelve months or is a successor to a Continuing Trustee and has been recommended to succeed a Continuing Trustee by a majority of the Continuing Trustees then members of the Board. All current members of the Boards of PMF, PCQ and PNF other than Messrs. Kittredge and Clark are “Continuing Trustees,” and the Board Nominees other than Mr. Kittredge will remain Continuing Trustees if elected or re-elected.In the case of PML, PCK, PNI, PMX PZC and PYN,PZC, a “Continuing Trustee” is a Trustee that has either served as Trustee since the inception of the Fund or forthirty-six months, or has been nominated by at least a majority of the Continuing Trustees then members of the Board. All current members of the Boards of PML, PCK, PNI, PMX and PZC other than Messrs. Buffington and Clark are “Continuing Trustees,” and all of the Board Nominees will remain Continuing Trustees if elected or re-elected.
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Pursuant to each Fund’s Declaration of Trust, certain corporate actions and/or transactions involving the Fund outside of the ordinary course of business (including, among others, mergers, consolidations, significant dispositions of Fund assets, any shareholder proposals as to specific investment decisions and the conversion of a Fund to an open-end fund) would require the approval of 75% of the Funds’ outstanding shares, unless approved by both a majority of the Board of Trustees and 75% of the Continuing Trustees (in which case shareholders have only the voting rights required by the 1940 Act with respect to such transaction or corporate action, if any).
At any annual meeting of Shareholders, any Trustee elected to fill a vacancy that has arisen since the preceding annual meeting of Shareholders (whether or not such vacancy has been filled by election of a new Trustee by the Board) shall hold office for a term that coincides with the term (or any remaining term) of the Class of Trustees to which such office was previously assigned, if such vacancy arose other than by an increase in the number of Trustees and until his or her successor shall be elected and shall qualify. In the event such vacancy arose due to an increase in the number of Trustees, any Trustee so elected to fill such vacancy at an annual meeting shall hold office for a term which coincides with that of the Class of Trustee to which such office has been apportioned and until his or her successor shall be elected and shall qualify.
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The following table summarizes the nomineesBoard Nominees who will stand for election orre-election at the Meeting, the respective Classes of Trustees to which they have been designated and the expiration of their respective terms if elected orre-elected, as applicable:
Trustee/Nominee | Class | Expiration of Term ifElected/Re-Elected* | ||||||||||
PMF/PCQ/PNF/PML/PCK/PNI | ||||||||||||
| Class III | Annual Meeting held during the | ||||||||||
Joseph B. Kittredge, Jr. | Class III | Annual Meeting held during the 2023 fiscal year | ||||||||||
William B. Ogden, IV | Class III | Annual Meeting held during the | ||||||||||
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PMX/ | ||||||||||||
Deborah A. DeCotis | Class III | Annual Meeting held during the | ||||||||||
David N. Fisher** | Class III | Annual Meeting held during the 2023 fiscal year | ||||||||||
Joseph B. Kittredge, Jr | Class II | Annual Meeting held during the 2022 fiscal year | ||||||||||
William B. Ogden, IV | Class III | Annual Meeting held during the | ||||||||||
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* | A Trustee elected orre-elected at an annual meeting shall hold office until the annual meeting for the year in which his or her term expires and until his or her successor |
** | Mr. |
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Under this classified Board structure, generally only those Trustees in a single Class may be replaced in any one year, and it would require a minimum of two years to change a majority of the Board under normal circumstances. This structure which may be regarded as an “anti-takeover” provision, may make it more difficult for a Fund’s Shareholders to change the majority of Trustees of the Fund and, thus, promotes the continuity of management.management and limits the ability of other entities or persons to acquire control of the Fund by delaying the replacement of a majority of the Board.
Unless authority is withheld, it is the intention of the persons named in the enclosed proxy for a Fund to vote each proxy for the persons listed above for that Fund. Each of the nomineesBoard Nominees has indicated he or she will serve if elected or re-elected, as applicable, but if he or she should be unable to serve for a Fund, the proxy holders may vote in favor of such substitute nominee as the Board may designate (or, alternatively, the Board may determine to save a vacancy).
Trustees and Officers
The business of each Fund is managed under the direction of the Fund’s Board. Subject to the provisions of each Fund’s Declaration, its Bylaws and applicable state law, the Trustees have all powers necessary and convenient to carry out their responsibilities, including the election and removal of the Fund’s officers.
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Board Leadership Structure — Currently, and assuming the nominees are elected as proposed, the Board of Trustees of each Fund consists and will continue to consist of eighteleven Trustees, sixnine of whom are Independent Trustees. An Independent Trustee serves as ChairmanChair of the TrusteesBoard and is selected by a vote of the majority of the Independent Trustees. The ChairmanChair of the TrusteesBoard presides at meetings of the Board and acts as a liaison with service providers, officers, attorneys and other Trustees generally between meetings, and performs such other functions as may be requested by the Board from time to time.
The Board of each Fund meets regularly four times each year to discuss and consider matters concerning the Funds, and also holds special meetings to address matters arising between regular meetings. The Independent Trustees regularly meet outside the presence of management and are advised by independent legal counsel. Regular meetings generally take placein-person; other meetings may take placein-person or by telephone.
The Board has established six standing Committees to facilitate the Trustees’ oversight of the management of the Funds: the Audit Oversight Committee, the Governance and Nominating Committee, the Valuation Oversight Committee, the CompensationContracts Committee, the ContractsPerformance Committee and the PerformanceBoard-Nominated Trustees Committee. The functions and role of each
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Committee are described below under “Board Committees and Meetings.” The membership of each Committee (other than the Performance Committee and Board-Nominated Trustees Committee) consists of only the Independent Trustees. The Performance Committee consists of all the Trustees. The Board-Nominated Trustees Committee consists of each Trustee who has been nominated for election or appointed to serve as a Trustee by a majority of the Trustees. The Independent Trustees which the Board believesbelieve that participation on each Committee allows them to participate in the full range of the Board’s oversight duties. In addition, the Performance Committee consists of all the Trustees.
The Board reviews its leadership structure periodically and has determined that this leadership structure, including an Independent Chairman,Chair, a supermajority of Independent Trustees and Committee membership limited to Independent Trustees (with the exception of the Performance Committee and Board-Nominated Trustees Committee), is appropriate in light of the characteristics and circumstances of each Fund. In reaching this conclusion, the Board considered, among other things, the predominant role of the Manager in theday-to-day management of Fund affairs, the extent to which the work of the Board is conducted through the Committees, the number of portfolios overseen by the Board that are advised by the Manager or have an investment adviser that is an affiliated person of the Manager (the “Fund Complex”), the variety of asset classes those portfolios include, the assets of each Fund and other portfolios overseen by the Board in the Fund Complex and the management and other service arrangements of each Fund and such other portfolios. The Board also believes that its structure, including the presence of two Trustees who are executives with the Manager or Manager-affiliated entities, facilitates an efficient flow of information concerning the management of each Fund to the Independent Trustees.
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Risk Oversight — Each of the Funds has retained the Manager to provide investment advisory services and administrative services. Accordingly, the Manager is immediately responsible for the management of risks that may arise from Fund investments and operations. Some employees of the Manager serve as the Funds’ officers, including the Funds’ principal executive officer and principal financial and accounting officer, chief compliance officer and chief legal officer. The Manager and the Funds’ other service providers have adopted policies, processes, and procedures to identify, assess and manage different types of risks associated with each Fund’s activities. The Board oversees the performance of these functions by the Manager and the Funds’ other service providers, both directly and through the Committee structure it has established. The Board receives from the Manager a wide range of reports, both on a regular andas-needed basis, relating to the Funds’ activities and to the actual and potential risks of the Funds. These include reports on investment and market risks, custody and valuation of Fund assets, compliance with applicable laws, and the Funds’
17
financial accounting and reporting. In addition, the Board meets periodically with the individual portfolio managers of the Funds or their delegates to receive reports regarding the portfolio management of the Funds and their performance, including their investment risks. In the course of these meetings and discussions with the Manager, the Board has emphasized the importance of the Manager maintaining vigorous risk-management programs and procedures.procedures with respect to the Funds.
In addition, the Board has appointed a Chief Compliance Officer (“CCO”). The CCO oversees the development of compliance policies and procedures that are reasonably designed to minimize the risk of violations of the federal securities laws (“Compliance Policies”). The CCO reports directly to the Independent Trustees, interacts with individuals within the Manager’s organization and provides presentations to the Board at its quarterly meetings and an annual report on the application of the Compliance Policies. The Board periodically discusses relevant risks affecting the Funds with the CCO at these meetings. The Board has approved the Compliance Policies and reviews the CCO’s reports. Further, the Board annually reviews the sufficiency of the Compliance Policies, as well as the appointment and compensation of the CCO.
The Board recognizes that the reports it receives concerning risk management matters are, by their nature, typically summaries of the relevant information. Moreover, the Board recognizes that not all risks that may affect the Funds can be identified in advance; that it may not be practical or cost-effective to eliminate or mitigate certain risks; that it may be necessary to bear certain risks (such as investment-related risks) in seeking to achieve the Funds’ investment objectives; and that the processes, procedures and controls employed to address certain risks may be limited in their effectiveness.
The Trustees and officers of the Funds, their years of birth, the position they hold with the Funds, their term of office and length of time served, a description of their principal occupations during the past five years, the number of portfolios in the Fund Complex that the Trustee oversees and any other public company directorships held by the Trustee are listed in the two tables immediately following. Except as shown, each Trustee’s and officer’s principal occupation and business experience for the last five years have been with the employer(s) indicated, although in some cases the Trustee may have held different positions with such employer(s).
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Information Regarding Trustees and Board Nominees.
The following table provides information concerning the Trustees/Board Nominees of the Funds.
Name, Address, Year of Birth and | Position(s) Held with the Funds | Term of Office and Length of Time Served(2) | Principal Occupation(s) During the Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee/ Nominee | Other | |||||||
Independent Trustees/Nominees | ||||||||||||
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Deborah A. DeCotis
PMF/PCQ/PNF/PML/PCK/PNI - Class II
PMX/ | Chair of the Board, Trustee, Nominee | PMF/PCQ/ PNF/PML/ PCK/PNI/ PMX/ Chair, Since 2019 Trustee, | Advisory Director, Morgan Stanley & Co., Inc. (since 1996); Member, Circle Financial Group (since 2009); | 72 | None |
1319
Name, Address, Year of Birth and | Position(s) Held with the Funds | Term of Office and Length of Time Served(2) | Principal Occupation(s) During the Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee/ Nominee | Other | |||||||
PMF/PCQ/PNF/PML/PCK/ | Trustee | PMF/PCQ/ PNF/PML/ PCK/PNI/ PMX/PZC - Since | Portfolio Manager of Dryden Capital, LLC since January 2013. The principal business of Dryden Capital, LLC is to provide investment advisory, portfolio and wealth management, consulting, financial planning and investment supervisory services | 8 | None | |||||||
Derrick A. Clark(3)
PMF/PCQ/PNF/PML/PCK/PNI/ PMX/ Class II | Trustee | PMF/PCQ/ PNF/PML/ PCK/PNI/ PMX/PZC - | 8 | None |
1420
Name, Address, Year of Birth and | Position(s) Held with the Funds | Term of Office and Length of Time Served(2) | Principal Occupation(s) During the Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee/ Nominee | Other | |||||||
PMF/PCQ/PNF/PML/PCK/PNI/PMX/ Class II | Trustee | Since January 2019 | Of Counsel, Simpson Thacher & Bartlett LLP (law firm); Director, Girl Scouts of Greater New York, Inc. (since 2016); and Trustee, Natural Resources Defense Council, Inc. (since 2013). Formerly, Partner, Simpson Thacher & Bartlett LLP (1989-2018). | 71 | None | |||||||
James A. Jacobson(4) PMF/PCQ/ PNF/PML/ PCK/PNI/ PMX/PZC - Class III | Trustee | Since 2009 | Retired. Trustee (since 2002) and Chairman of Investment Committee (since 2007), Ronald McDonald House of New York; and Trustee, New Jersey City University (since 2014). Formerly, Vice Chairman and Managing Director, Spear, Leeds & Kellogg Specialists, LLC, a specialist firm on the New York Stock Exchange (2003-2008). | 72 | Formerly, Trustee, Alpine Mutual Funds Complex |
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Name, Address, Year of Birth and Class(1) | Position(s) Held with the Funds | Term of Office and Length of Time Served(2) | Principal Occupation(s) During the Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee/ Nominee | Other | |||||||
Hans W. Kertess PMF/PCQ/ PNF/PML/ PCK/PNI - Class II PMX/PZC - Class I | Trustee | PMF/PCQ/ PNF-Since 2001 PML/PCK/ PNI-Since PMX/PZC- Since 2003 | President, H. Kertess & Co., a financial advisory company; and Senior Adviser (formerly Managing Director), Royal Bank of Canada Capital Markets (since 2004). | 72 | None | |||||||
Joseph B. Kittredge, Jr. 1954 PMF/PCQ/ PNF/PML/ PCK/PNI - Class III PMX/PZC - Class II | Trustee, Nominee | Since 2020 | Retired. Formerly, General Counsel, Grantham, Mayo, Van Otterloo & Co. LLC (2005-2018) and Partner (2007-2018); President, GMO Trust (institutional mutual funds) (2009-2018); Chief Executive Officer, GMO Trust (2009-2015); President and Chief Executive Officer, GMO Series Trust (platform based mutual funds) (2011-2013). | 29 | Trustee, GMO Trust (2010-2018); Chairman of the Board of Trustees, GMO Series Trust (2011-2018). | |||||||
William B. Ogden, IV 1945
PMF/PCQ/ PNF/PML/ PCK/PNI/ PMX/ | Trustee, Nominee | Since 2006 | Retired. Formerly, Asset Management Industry Consultant; and Managing Director, Investment Banking Division of Citigroup Global Markets Inc. | 72 | None |
1522
Name, Address, Year of Birth and | Position(s) Held with the Funds | Term of Office and Length of Time Served(2) | Principal Occupation(s) During the Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee/ Nominee | Other | |||||||
Alan Rappaport
PMF/PCQ/ PNF/PML/ PCK/ PMX/ Class II | Trustee | Since 2010 | 72 | None |
1623
Name, Address, Year of Birth and | Position(s) Held with the Funds | Term of Office and Length of Time Served(2) | Principal Occupation(s) During the Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee/ Nominee | Other | |||||||
Interested | ||||||||||||
David N. Fisher(5)
650 Newport Center Drive,
PMF/PCQ/PNF/PML/PCK/PNI/ PMX/ Class III | Trustee, Nominee | Since January 2019 | Managing Director and Head of Traditional Product Strategies, PIMCO | 28 | None |
1724
Name, Address, Year of Birth and | Position(s) Held with the Funds | Term of Office and Length of Time Served(2) | Principal Occupation(s) During the Past 5 Years | Number of Portfolios in Fund Complex Overseen by Trustee/ Nominee | Other | |||||||
John C. Maney(5)
650 Newport
PMF/PCQ/ PNF/PML/ PCK/PNI/ PMX/ | Trustee | Since 2006 | Consultant to PIMCO (since January 2020); Non-Executive Director and a member of the Compensation Committee of PIMCO Europe Ltd (since December 2017). Formerly, Managing Director of Allianz Asset Management of America L.P. | 28 | None |
Unless otherwise indicated, the business address of the persons listed above is c/o Pacific Investment Management Company LLC, 1633 Broadway, New York, New York 10019. |
Under each Fund’s Declaration, a Trustee serves until his or her retirement, resignation or replacement. |
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(3) | Messrs. Buffington’s and Clark’s address is Dryden Capital, LLC (New York Office), 641 Lexington Avenue, 13th Floor, New York, New York 10022. |
(4) | In anticipation of his expected retirement from all of the PIMCO Sponsored Closed-End Funds as of December 31, 2020, Mr. |
(5) | Each of Messrs. Fisher and Maney is an Interested Trustee of each Fund due to his affiliation with PIMCO and its affiliates. |
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The following table states the dollar range of equity securities beneficially owned as of the Record Date by each Trustee and nomineeBoard Nominee of each Fund and, on an aggregate basis, of any registered investment companies overseen by the Trustees in the “family of investment companies,” including the Funds.
Name of Trustee/ | Dollar Range of Equity Securities in the Funds* | Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen by Trustee/ Board Nominee in the Family of Investment Companies* | ||
Independent Trustees/Board Nominees | ||||
| None | None | ||
Derrick A. Clark | None | None | ||
Sarah E. Cogan | PMF: $10,001 - $50,000 PNI: $10,001 - $50,000 PMX: $10,001 - $50,000 | Over $100,000 | ||
Deborah A. DeCotis | ||||
| None | Over $100,000 | ||
James A. Jacobson | None | Over $100,000 | ||
Hans W. Kertess | None | Over $100,000 | ||
Joseph B. Kittredge, Jr.** | PML: Over $100,000 | Over $100,000 | ||
William B. Ogden, IV | PML: $50,001 - $100,000 | Over $100,000 | ||
Alan Rappaport | Over $100,000 | |||
Interested Trustees/Board Nominees | ||||
John C. Maney | None | Over $100,000 | ||
| None | Over $100,000 |
* | Securities are valued as of the Record Date. |
** | Joseph B. Kittredge, Jr. was appointed as a Trustee of each Fund on June 12, 2020. |
To the knowledge of the Funds, as of the Record Date, Trustees and nomineesBoard Nominees who are Independent Trustees or Independent Nomineesnominees and their immediate family members did not own securities of an investment adviser or
26
principal underwriter of the Funds or a person (other than a registered investment company) directly or indirectly controlling, controlled by, or under common control with an investment adviser or principal underwriter of the Funds.
Mr. Ogden owns a less than 1% limited liability company interest in PIMCO Global Credit Opportunity Onshore Fund LLC, a PIMCO-sponsored private investment vehicle.
Compensation. Each of the Independent Trustees other than Messrs. Buffington and Clark also serves as a trustee of PCM Fund, Inc., PIMCO Corporate & Income Strategy Fund, PIMCO Corporate & Income Opportunity Fund, PIMCO Income Opportunity Fund, PIMCO Dynamic Credit and Mortgage Income Fund, PIMCO Dynamic Income Fund, PIMCO Income Strategy Fund, PIMCO Income Strategy Fund II, PIMCO High Income Fund, PIMCO New York Municipal Fund III, PIMCO Strategic Income Fund, Inc. and, PIMCO Global StocksPLUS® & Income Fund and PIMCO Energy and Tactical Credit Opportunities Fund, each aclosed-end fund for which the Manager serves as investment manager (together with the Funds, the “PIMCOClosed-End
19
Funds”), as well as PIMCO Flexible Credit Income Fund and PIMCO Flexible Municipal Income Fund, each a closed end management investment company that is operated as an “interval fund” for which the Manager serves as investment manager (“PFLEX”(the “PIMCO Interval Funds”), and PIMCO Managed Accounts Trust (“PMAT”), anopen-end management investment company with multiple series for which the Manager serves as investment adviser and administrator (together with the PIMCOClosed-End Funds and PFLEX,the PIMCO Interval Funds, the “PIMCO-Managed Funds”).
In addition, each of the Independent Trustees (other than Messrs. Buffington and Clark) also serves as a trustee of AllianzGI Diversified Income & Convertible Fund, AllianzGI Convertible & Income Fund, AllianzGI Convertible & Income Fund II, AllianzGI NFJ Dividend, Interest & Premium Strategy Fund, AllianzGI Equity & Convertible Income Fund, AllianzGI Convertible & Income 2024 Target Term Fund, AllianzGI Artificial Intelligence & Technology Opportunities Fund, Allianz Funds, Allianz Funds Multi-Strategy Trust and AllianzGI Institutional Multi-Series Trust and Premier Multi-Series VIT (together, the “Allianz-Managed Funds”), for which Allianz Global Investors U.S. LLC (“AllianzGI U.S.”), an affiliate of PIMCO, serves as investment manager. PriorThe Independent Trustees receive separate compensation from the Allianz-Managed Funds in addition to amounts received for service on the closeBoards of business on September 5, 2014, a predecessor entity of AllianzGI U.S. served as investment manager of PMAT and the PIMCOClosed-EndPIMCO-Managed Funds.
As indicated below, certain of the officers of the Funds are affiliated with the Manager.
Each of the PIMCO-Managed Funds holds joint meetings of their Boards of Trustees whenever possible.
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Each Independent Trustee other than Messrs. Buffington and Clark currently receives annual compensation of $225,000 for his or her service on the Boards of the PIMCO-Managed Funds, payable quarterly. The Independent Chairman of the Boards receives an additional $75,000 per year, payable quarterly. The Audit Oversight Committee Chairman receives an additional $50,000 annually, payable quarterly. Trustees are also reimbursed for meeting-related expenses. Each of Messrs. Buffington and Clark, who do not serve on the Board of any PIMCO-Managed Funds other than the Funds, will receive a portion of the $225,000 annual compensation paid to the Independent Trustees based on a fixed percentage allocated to the PIMCO Closed-End Funds for other Trustees, which will then be further allocated pro rata among the Funds based on the relative net assets of each Fund, as described below.
Each Trustee’s compensation for his or her service as a Trustee on the Boards of the PIMCO-Managed Funds and other costs in connection with joint meetings of such Funds are allocated among the PIMCO-Managed Funds, as applicable, on the basis of fixed percentages as among PMAT, PFLEXthe PIMCO Closed-End Funds and the PIMCOClosed-End Interval Funds. Trustee compensation and other costs are then further allocated pro rata among the individual funds within each grouping based on each such fund’s relative net assets. Each of Messrs. Buffington’s and Clark’s compensation will be determined and allocated among the Funds in accordance with this methodology as noted above.
The Funds have no employees. The Funds’ officers, Mr. DawsonFisher and Mr. Maney are compensated by the Manager or its affiliates, as applicable.
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The Trustees do not currently receive any pension or retirement benefits from the Funds or the Fund Complex.
The following table provides information concerning the compensation paid to the Trustees and nominees for the fiscal yearsyear ended December 31, 2016.2019. For the calendar year ended December 31, 2016,2019, the Trustees received the compensation set forth in the table below for serving as Trustees of the Funds and other funds in the same Fund Complex as the Funds. Each officer and each Trustee who is a director, officer, partner, member or employee of the Manager, or of any entity controlling, controlled by or under common control with the Manager, including any Interested Trustee, serves without any compensation from the Funds. Mr. Kittredge is not included in the table below because he was appointed to the Board of the Funds effective June 11, 2020 and thus did not serve on the Board of the Funds as of December 31, 2019. Mr. Kittredge had not received any compensation from the Funds or the Fund Complex for service as Trustee of the Funds as of December 31, 2019.
Compensation Table
Name of Trustee/ Nominees | Aggregate Compensation from PMF for the Fiscal Year Ended December 31, 2016 | Aggregate Compensation from PCQ for the Fiscal Year Ended December 31, 2016 | Aggregate Compensation from PNF for the Fiscal Year Ended December 31, 2016 | Aggregate Compensation from PML for the Fiscal Year Ended December 31, 2016 | Aggregate Compensation from PCK for the Fiscal Year Ended December 31, 2016 | |||||||||||||||
Independent Trustee/Nominee |
| |||||||||||||||||||
Hans W. Kertess | $ | 11,564 | $ | 9,220 | $ | 3,087 | $ | 24,376 | $ | 9,797 | ||||||||||
Bradford K. Gallagher | $ | 8,673 | $ | 6,915 | $ | 2,315 | $ | 18,552 | $ | 7,348 | ||||||||||
James A. Jacobson | $ | 10,600 | $ | 8,452 | $ | 2,830 | $ | 22,675 | $ | 8,980 | ||||||||||
William B. Ogden, IV | $ | 8,673 | $ | 6,915 | $ | 2,315 | $ | 18,552 | $ | 7,348 | ||||||||||
Alan Rappaport | $ | 8,673 | $ | 6,915 | $ | 2,315 | $ | 18,552 | $ | 7,348 | ||||||||||
Deborah A. DeCotis | $ | 8,673 | $ | 6,915 | $ | 2,315 | $ | 18,552 | $ | 7,348 | ||||||||||
Interested Trustee/Nominee |
| |||||||||||||||||||
John C. Maney | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
Craig A. Dawson** | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 |
Name of Trustee/ Nominees | Aggregate Compensation from PNI for the Fiscal Year Ended December 31, 2016 | Aggregate Compensation from PMX for the Fiscal Year Ended December 31, 2016 | Aggregate Compensation from PZC for the Fiscal Year Ended December 31, 2016 | Aggregate Compensation from PYN for the Fiscal Year Ended December 31, 2016 | ||||||||||||
Independent Trustee/Nominee |
| |||||||||||||||
Hans W. Kertess | $ | 4,485 | $ | 12,171 | $ | 7,698 | $ | 1,882 | ||||||||
Bradford K. Gallagher | $ | 3,364 | $ | 9,128 | $ | 5,773 | $ | 1,412 | ||||||||
James A. Jacobson | $ | 4,111 | $ | 11,156 | $ | 7,056 | $ | 1,725 | ||||||||
William B. Ogden, IV | $ | 3,364 | $ | 9,128 | $ | 5,773 | $ | 1,412 | ||||||||
Alan Rappaport | $ | 3,364 | $ | 9,128 | $ | 5,773 | $ | 1,412 | ||||||||
Deborah A. DeCotis | $ | 3,364 | $ | 9,128 | $ | 5,773 | $ | 1,412 | ||||||||
Interested Trustee/Nominee | ||||||||||||||||
John C. Maney** | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
Craig A. Dawson** | $ | 0 | $ | 0 | $ | 0 | $ | 0 |
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Name of Trustee/ Nominees | Total Compensation from the Funds and Fund Complex Paid to Trustees/Nominees for the Calendar Year Ended December 31, 2016* | |||
Independent Trustee/Nominee | ||||
Hans W. Kertess | $ | 525,000 | ||
Bradford K. Gallagher | $ | 450,000 | ||
James A. Jacobson | $ | 525,000 | ||
William B. Ogden, IV | $ | 450,000 | ||
Alan Rappaport | $ | 450,000 | ||
Deborah A. DeCotis | $ | 450,000 | ||
Interested Trustee/Nominee | ||||
John C. Maney** | $ | 0 | ||
Craig A. Dawson** | $ | 0 |
Compensation Table
Name of Trustee/Board Nominees | Aggregate Compensation from PMF for the Fiscal Year Ended December 31, 2019 | Aggregate Compensation from PCQ for the Fiscal Year Ended December 31, 2019 | Aggregate Compensation from PNF for the Fiscal Year Ended December 31, 2019 | ||||||||||||
Independent Trustee/Board Nominee |
| ||||||||||||||
T. Matthew Buffington | $ | 6,932 | $ | 5,428 | $ | 1,762 | |||||||||
Derrick A. Clark(3) | $ | 0 | $ | 0 | $ | 0 | |||||||||
Sarah E. Cogan | $ | 6,927 | $ | 5,424 | $ | 1,760 | |||||||||
Deborah A. DeCotis | $ | 9,235 | $ | 7,232 | $ | 2,347 | |||||||||
Bradford K. Gallagher(2) | $ | 6,927 | $ | 5,424 | $ | 1,760 | |||||||||
Hans W. Kertess | $ | 6,927 | $ | 5,424 | $ | 1,760 | |||||||||
James A. Jacobson | $ | 8,466 | $ | 6,629 | $ | 2,151 | |||||||||
William B. Ogden, IV | $ | 6,927 | $ | 5,424 | $ | 1,760 | |||||||||
Alan Rappaport | $ | 6,927 | $ | 5,424 | $ | 1,760 | |||||||||
Interested Trustee/Board Nominee |
| ||||||||||||||
David N. Fisher(4) | $ | 0 | $ | 0 | $ | 0 | |||||||||
John C. Maney(4) | $ | 0 | $ | 0 | $ | 0 |
Name of Trustee/Board Nominees | Aggregate Compensation from PML for the Fiscal Year Ended December 31, 2019 | Aggregate Compensation from PCK for the Fiscal Year Ended December 31, 2019 | Aggregate Compensation from PNI for the Fiscal Year Ended December 31, 2019 | ||||||||||||
Independent Trustee/Board Nominee |
| ||||||||||||||
T. Matthew Buffington | $ | 14,893 | $ | 5,868 | $ | 2,697 | |||||||||
Derrick A. Clark(3) | $ | 0 | $ | 0 | $ | 0 | |||||||||
Sarah E. Cogan | $ | 14,882 | $ | 5,864 | $ | 2,695 | |||||||||
Deborah A. DeCotis | $ | 19,843 | $ | 7,819 | $ | 3,593 | |||||||||
Bradford K. Gallagher(2) | $ | 14,882 | $ | 5,864 | $ | 2,695 | |||||||||
Hans W. Kertess | $ | 14,882 | $ | 5,864 | $ | 2,695 | |||||||||
James A. Jacobson | $ | 18,189 | $ | 7,167 | $ | 3,294 | |||||||||
William B. Ogden, IV | $ | 14,882 | $ | 5,864 | $ | 2,695 | |||||||||
Alan Rappaport | $ | 14,882 | $ | 5,864 | $ | 2,695 | |||||||||
Interested Trustee/Board Nominee |
| ||||||||||||||
David N. Fisher(4) | $ | 0 | $ | 0 | $ | 0 | |||||||||
John C. Maney(4) | $ | 0 | $ | 0 | $ | 0 |
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Name of Trustee/Board Nominees | Aggregate Compensation from PMX for the Fiscal Year Ended December 31, 2019 | Aggregate Compensation from PZC for the Fiscal Year Ended December 31, 2019 | Total Compensation from the Funds and Fund Complex Paid to Trustees/Nominees for the Calendar Year Ended December 31, 2019(1) | ||||||||||||
Independent Trustee/Board Nominee |
| ||||||||||||||
T. Matthew Buffington | $ | 7,298 | $ | 4,565 | $ | 49,443 | |||||||||
Derrick A. Clark(3) | $ | 0 | $ | 0 | $ | 0 | |||||||||
Sarah E. Cogan | $ | 7,292 | $ | 4,562 | $ | 470,000 | |||||||||
Deborah A. DeCotis | $ | 9,723 | $ | 6,083 | $ | 535,000 | |||||||||
Bradford K. Gallagher(2) | $ | 7,292 | $ | 4,562 | $ | 460,000 | |||||||||
Hans W. Kertess | $ | 7,292 | $ | 4,562 | $ | 460,000 | |||||||||
James A. Jacobson | $ | 8,913 | $ | 5,576 | $ | 535,000 | |||||||||
William B. Ogden, IV | $ | 7,292 | $ | 4,562 | $ | 465,000 | |||||||||
Alan Rappaport | $ | 7,292 | $ | 4,562 | $ | 535,000 | |||||||||
Interested Trustee/Board Nominee |
| ||||||||||||||
David N. Fisher(4) | $ | 0 | $ | 0 | $ | 0 | |||||||||
John C. Maney(4) | $ | 0 | $ | 0 | $ | 0 |
In addition to the PIMCO-Managed Funds, which are advised by the Manager, during each Fund’s most recently completed calendar year, all of the Trustees (other than Messrs. |
Mr. Gallagher resigned from the Board of each Fund effective December 31, 2019. |
(3) | Mr. Clark was elected to the Board of each Fund on December 17, 2019. He therefore did not receive compensation for the fiscal year ended December 31, 2019. |
(4) | Neither Mr. |
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Trustee Qualifications — The Board has determined that each current Board-Nominated Trustee and Board Nominee is qualified to serve as sucha Trustee based on several factors (none of which alone is decisive). Each current Board-Nominated Trustee and Board Nominee, with the exception of Mr. Kittredge, has served in such role for several years. Mr. Kittredge formerly served as a Partner and General Counsel at the investment management firm of Grantham, Mayo, Van Otterloo & Co. LLC and President, CEO, and Trustee of the GMO Trust and the GMO Series Trust. Accordingly, each Board-Nominated Trustee and Board Nominee is knowledgeable about the Funds’ business and service provider arrangements and/or similar arrangements and, with the exception of Ms. Cogan and Mr. Fisher, has also served for several years as trustee or director to a number of other investment companies advised by the Manager and/or its affiliates. Among the factors the Board considered when concluding that an individual is qualified to serve on the Board were the following: (i) the individual’s business and professional experience and accomplishments; (ii) the individual’s ability to work effectively with other members of the Board; (iii) the individual’s prior experience, if any, serving on the boards of public companies (including, where relevant, other investment companies) and other complex enterprises and organizations; and (iv) how the individual’s skills, experiences and attributes would contribute to an appropriate mix of relevant skills and experience on the Board.
In respect of each current Board-Nominated Trustee and/or Board Nominee, the individual’s substantial professional accomplishments and prior experience, including, in some cases, in fields related
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to the operations of the Funds, were a significant factor in the determination by the Board that the individual is qualified to serve as a Trustee of the Funds. The following is a summary of various qualifications, experiences and skills of each Trustee (in addition to business experience during the past five years set forth in the table above) that contributed to the Board’s conclusion (in the case of the Board-Nominated Trustees) that an individual is qualified to serve on the Board. References to qualifications, experiences and skills are not intended to hold out the Board or individual Board-Nominated Trustees as having any special expertise or experience, and shall not impose any greater responsibility or liability on any such person or on the Board by reason thereof.
Hans W. Kertess — Mr. Kertess has substantial executive experience in the investment management industry. He is the president of a financial advisory company, H. Kertess & Co. and a Senior Adviser of Royal Bank of Canada Capital Markets, and formerly served as a Managing Director of Royal Bank of Canada Capital Markets. He has significant expertise in the investment banking industry.
Craig A. Dawson — Mr. Dawson has substantial executive experience in the investment management industry. Mr. Dawson is a Managing Director and Head of PIMCO Europe, Middle East and Africa. In that role he is in charge of guiding PIMCO’s business initiatives in Europe, the Middle East and Africa. Prior to taking on this position, Mr. Dawson was PIMCO’s Head of Strategic Business Management. Mr. Dawson also serves as a Director of a number of PIMCO’s European investment vehicles and affiliates. Because of his familiarity with PIMCO and its affiliates, Mr. Dawson serves as an important information resource for the Independent Trustees and as a facilitator of communication with PIMCO.
Deborah A. DeCotis — Ms. DeCotis has substantial senior executive experience in the investment banking industry, having served as a Managing Director for Morgan Stanley. She has extensive board experience and experience in oversight of investment management functions through her experience as a former Director of the Helena Rubenstein Foundation, Stanford Graduate School of Business and Armor Holdings.
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Bradford K. GallagherSarah E. Cogan —Ms. Cogan has substantial legal experience in the investment management industry, having served as a partner at a large international law firm in the corporate department for over 25 years and as former head of the registered funds practice. She has extensive experience in oversight of investment company boards through her experience as counsel to the Independent Trustees of the Fund and as counsel to other independent trustees, investment companies and asset management firms.
David N. Fisher — Mr. GallagherFisher has substantial executive and board experience in the financial services and investment management industries. He has served as director to several other investment companies. Having served on the Operating Committee of Fidelity Investments and asindustry. Mr. Fisher is a Managing Director and PresidentHead of Fidelity Investments Institutional Services Company,Traditional Product Strategies at PIMCO. In this role, he providesoversees teams of product strategists covering core and non-core fixed income strategies as well as the Fundsfirm’s suite of equity strategies. Prior to taking on this position, Mr. Fisher was a product strategist at PIMCO with significant asset management industry expertise. He also brings significant securities industry experience, having servedresponsibility for the firm’s Total Return and Global Bond strategies. Because of his familiarity with PIMCO and its affiliates, Mr. Fisher serves as an important information resource for the Independent Trustees and as a developer and founderfacilitator of several enterprises and private investment vehicles.
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James A. Jacobson — Mr. Jacobson has substantial executive and board experience in the financial services industry. He served for more than 15 years as a senior executive at a New York Stock Exchange (the “NYSE”) specialist firm. He has also served on the NYSE Board of Directors, including terms as Vice Chair. As such, he provides significant expertise on matters relating to portfolio brokerage and trade execution. He also provides the Funds with significant financial expertise, serves as the Audit Oversight Committee’s Chair and has been determined by the Board to be an “audit committee financial expert.”
Hans W. Kertess — Mr. Kertess has substantial executive experience in the investment management industry. He is the president of a financial advisory company, H. Kertess & Co. and a Senior Adviser of Royal Bank of Canada Capital Markets, and formerly served as a Managing Director of Royal Bank of Canada Capital Markets. He has significant expertise in the investment banking industry.
Joseph B. Kittredge, Jr. — Mr. Kittredge has substantial executive experience in the investment management industry. He has served in a variety of senior-level positions with investment management firm Grantham, Mayo, Van Otterloo & Co. LLC. He has extensive board experience and experience in oversight of investment management functions through his experience as a former trustee for GMO Trust and Chairman of the Board of Trustees of GMO Series Trust.
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John C. Maney — Mr. Maney has substantial executive and board experience in the investment management industry. He hasPrior to January 2020, he served in a variety of senior-level positions with investment advisory firms affiliated with the Manager.Investment Manager, including Allianz Asset Management of America L.P. (the Investment Manager’s U.S. parent company). In addition, Mr. Maney currently provides various services to the Investment Manager as a consultant. Because of his familiarity with the Investment Manager and affiliated entities, he serves as an important information resource for the Independent Trustees and as a facilitator of communication with Allianz Asset Management of America L.P., PIMCO’s U.S. parent company.the Investment Manager and its affiliates.
William B. Ogden, IV — Mr. Ogden has substantial senior executive experience in the investment banking industry. He served as Managing Director at Citigroup, where he established and led the firm’s efforts to raise capital for, and provide mergers and acquisition advisory services to, asset managers and investment advisers. He also has significant expertiseexperience with fund products through his senior-level responsibility for originating and underwriting a broad variety of such products.
Alan Rappaport — Mr. Rappaport has substantial senior executive experience in the financial services industry. He formerly served as Chairman and President of the Private Bank of Bank of America, and as Vice Chairman of U.S. Trust. He is currentlyTrust and as an Advisory Director of an investment firm.
T. Matthew Buffington — is a co-founder and has been the Portfolio Manager of Dryden Capital, LLC since January 2013. Previously, Mr. Buffington was a research analyst at Southpoint Capital Advisors LP, a value-oriented equity investment firm with AUM of approximately $2 billion. Mr. Buffington was responsible for idea generation, investment research and portfolio monitoring across a variety of industries. Prior to joining Southpoint, Mr. Buffington worked at the private equity firm Clayton, Dubilier & Rice, LLC (“CD&R”), where he helped identify new private equity investments across a wide range of industries, advised portfolio companies as they explored strategic acquisitions and helped analyze performance. Prior to joining CD&R, Mr. Buffington worked in the Mergers & Acquisitions Group at Merrill Lynch where he advised in analyzing strategic alternatives, structuring transactions and determining valuation.
Derrick A. Clark — has served as an Analyst and a Portfolio Manager at Junto Capital Management LP since July 2013. Previously, Mr. Clark was a Senior Analyst at Glenview Capital Management, where he was responsible for identifying investment opportunities within the Industrials sector. Prior to joining Glenview, Mr. Clark was an Associate at the private equity fund Clayton,
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Dubilier & Rice, and an Investment Banking Analyst at Goldman Sachs. Mr. Clark earned his BS in Business Administration and graduated with high distinction from Indiana University’s Kelley School of Business, where he concentrated in Finance and Economics.
Board Committees and Meetings.
Audit Oversight Committee. The Board of each Fund has established an Audit Oversight Committee in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Each Fund’s Audit Oversight Committee currently consists of Messrs. Gallagher, Jacobson, Kertess, Kittredge, Ogden, Rappaport, Buffington and Ms.Clark and Mses. Cogan and DeCotis, each of whom is an Independent Trustee. Mr. Jacobson is the currentserves as Chair of each Fund’s Audit Oversight Committee. Each Fund’s Audit Oversight Committee provides oversight with respect to the internal and external accounting and auditing procedures of each Fund and, among other things, determines the selection of the independent registered public accounting firm for each Fund and considers the scope of the audit, approves all audit and permittednon-audit services proposed
24
to be performed by those auditors on behalf of each Fund and approvesnon-audit services to be performed by the auditors for certain affiliates, including the Manager and entities in a control relationship with the Manager that provide services to each Fund where the engagement relates directly to the operations and financial reporting of the Fund. The Committee considers the possible effect of those services on the independence of the Funds’ independent registered public accounting firm. Each member of each Fund’s Audit Oversight Committee is “independent,” as independence for audit committee members is defined in the currently applicable listing standards of the NYSE, on which the Common Shares of each Fund are listed.
The Board of each Fund has adopted a written charter for its Audit Oversight Committee. A copy of the written charter for each Fund, as amended through February 24, 2017,January 1, 2020, is attached to this Proxy Statement asExhibit A. A report of the Audit Oversight Committee of each Fund, dated February 24, 2017,2020, is attached to this Proxy Statement asExhibit C.
Governance and Nominating Committee. The Board of each Fund has established a Governance and Nominating Committee composed solely of Independent Trustees, currently consisting of Messrs. Gallagher,Buffington, Jacobson, Kertess, Kittredge, Ogden, Rappaport and Mses. Cogan and DeCotis. Ms. DeCotis.DeCotis serves as Chair of each Fund’s Governance and Nominating Committee. The primary purposes and responsibilities of the Governance and Nominating Committee are: (i) advising and making recommendations to the
34
Board on matters concerning Board governance and related Trustee practices, and (ii) the screening and nomination of candidates for election to the Board as Independent Trustees.
The responsibilities of the Governance and Nominating Committee include considering and making recommendations to the Fund’s Board regarding: (1) governance, retirement and other policies, procedures and practices relating to the Board and the Trustees; (2) in consultation with the Chair of the Trustees, matters concerning the functions and duties of the Trustees and committees of the Board; (3) the size of the Board and, in consultation with the Chair of the Trustees, the Board’s committees and their composition; and (4) Board and committee meeting procedures. The Committee will also periodically review and recommend for approval by the Board the structure and levels of compensation and any related benefits to be paid or provided by a Fund to the Independent Trustees for their services on the Board and any committees on the Board.3
The Governance and Nominating Committee is responsible for reviewing and recommending qualified candidates to the Board in the event that a position is vacated or created or when Trustees are to bere-elected. The Governance and Nominating Committee of each Fund has adopted a charter, which is attached to this Proxy Statement asExhibit B.
Each member of each Fund’s Governance and Nominating Committee is “independent,” as independence for nominating committee members is defined in the currently applicable listing standards of the NYSE, on which the Common Shares of each Fund are listed.
Qualifications, Evaluation and Identification of Trustees/Board Nominees. The Governance and Nominating Committee of each Fund requires that Trustee candidates have a college degree or equivalent business experience. When evaluating candidates, each Fund’sthe Governance and Nominating Committee may take into account a wide variety of factors including, but not limited to: (i) availability and commitment of a candidate to attend meetings and perform his or her responsibilities on the Board, (ii) relevant industry and related experience, (iii) educational background, (iv) ability, judgment and expertise and (v) overall diversity of the Board’s composition.
The process of identifying nominees involves the consideration of candidates recommended by one or more of the following sources: (i) the Fund’s current Trustees, (ii) the Fund’s officers, (iii) the Fund’s investment adviser,
3 | Prior to January 1, 2020, Trustee compensation was reviewed by a separate Compensation Committee established by the Board of each Fund. The Compensation Committee was dissolved, effective January 1, 2020. |
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(iv) shareholders of the Fund,Fund’s shareholders and (v) any other source the Committee deems to
25
be appropriate. The Governance and Nominating Committee of each Fund may, but is not required to, retain a third partythird-party search firm at athe Fund’s expense to identify potential candidates.
Consideration of Candidates Recommended by Shareholders. The Governance and Nominating Committee of each Fund will review and consider nominees recommended by Shareholders to serve as Trustees, provided that the recommending Shareholder follows the “Procedures for Shareholders to Submit Nominee Candidates for the PIMCO SponsoredClosed-End Funds,”Funds”, which are set forth as Appendix B to the Funds’Fund’s Governance and Nominating Committee Charter, attached to this Proxy Statement asExhibit B. Among other requirements, these procedures provide that the recommending Shareholder must submit any recommendation in writing to the Fund, to the attention of the Fund’s Secretary, at the address of the principal executive offices of the Fund and that such submission must be received at such offices not less than 45 days nor more than 75 days prior to the date of the Board or shareholder meeting at which the nominee would be elected. Any recommendation must include certain biographical and other information regarding the candidate and the recommending Shareholder and must include a written and signed consent of the candidate to be named as a nominee and to serve as a Trustee if elected. The foregoing description of the requirements is only a summary. Please refer to Appendix B to the Governance and Nominating Committee Charter, for each Fund, which is attached to this Proxy Statement asExhibit B for details.
The Governance and Nominating Committee has full discretion to reject nominees recommended by Shareholders and there is no assurance that any such person properly recommended and considered by the Committee will be nominated for election to the Board of each Fund.Trustees.
Diversity. The Governance and Nominating Committee takes diversity of a particular nominee and overall diversity of the Board into account when considering and evaluating nominees for Trustee. While the Committee has not adopted a particular definition of diversity, when considering a nominee’s and the Board’s diversity, the Committee generally considers the manner in which each nominee’s professional experience, education, expertise in matters that are relevant to the oversight of the Funds (e.g., investment management, distribution, accounting, trading, compliance, legal), general leadership experience, and life experience are complementary and, as a whole, contribute to the ability of the Board to oversee the Funds.
Valuation Oversight Committee. The Board of each Fund has established a Valuation Oversight Committee currently consisting of Messrs. Gallagher, Buffington,
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Jacobson, Kertess, Kittredge, Ogden and Rappaport and Ms.Mses. Cogan and DeCotis. Mr. Ogden is the
26
serves as Chair of each Fund’s Valuation Oversight Committee. The Valuation Oversight Committee has been delegated responsibility by the Board for overseeing determination of the fair value of each Fund’s portfolio securities and other assets on behalf of the Board in accordance with the Funds’ valuation procedures. The Valuation Oversight Committee of each Fund reviews and approves procedures for the fair valuation of the Fund’s portfolio securities and periodically reviews information from the Manager regarding fair value determinations made pursuant to Board-approved procedures, and makes related recommendations to the full Board and assists the full Board in resolving particular fair valuation and other valuation matters. In certain circumstances as specified in the Funds’ valuation policies, the Valuation Oversight Committee may also determine the fair value of portfolio holdings after consideration of all relevant factors, which determinations shall be reported to the full Board.
Compensation Committee. ThePrior to January 1, 2020, the Board of each Fund hashad established a Compensation Committee currently consisting of Messrs. Gallagher, Jacobson, Kertess, Ogden, Rappaport and Ms. DeCotis. The Compensation Committee meetsthat met as the Board deemsdeemed necessary to review and make recommendations regarding compensation payable to the Trustees of the Fund who are not directors, officers, partners or employees of the ManagerPIMCO or any entity controlling, controlled by or under common control with the Manager. Effective January 1, 2020, the Compensation Committee was dissolved, and the Governance and Nominating Committee assumed responsibility for compensation matters.
Contracts Committee. The Board of each Fund has established a Contracts Committee currently consisting of Messrs. Gallagher,Buffington, Kittredge, Jacobson, Kertess, Ogden, Rappaport and Ms.Mses. Cogan and DeCotis. Ms. DeCotis is theCogan serves as Chair of each Fund’s Contracts Committee. The Contracts Committee meets as the Board deems necessary to review the performance of, and the reasonableness of the fees paid to, as applicable, the Funds’ investment adviser(s) and anysub-adviser(s), administrators(s) and principal underwriters(s) and to make recommendations to the Board regarding the approval and continuance of each Fund’s contractual arrangements for investment advisory,sub-advisory, administrative and distribution services, as applicable. The Contracts Committee also may review and evaluate the terms of other contracts or amendments thereto with the Funds’ other major service providers at the Board’s request.
Performance Committee. The Board has established a Performance Committee, which consists of Messrs. Gallagher,Buffington, Jacobson, Kertess, Kittredge, Ogden, Rappaport, Maney and DawsonFisher and Ms.Mses. Cogan and DeCotis. Mr. Rappaport is theserves as Chair of the Performance Committee. The Performance Committee’s responsibilities include reviewing the performance of the Funds and any changes in investment philosophy, approach and personnel of the Funds’ Manager.
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Board-Nominated Trustees Committee. The PerformanceBoard established a Board-Nominated Trustees Committee was established on March 23, 201726, 2019, which consists of Messrs. Jacobson, Kittredge, Kertess, Ogden, Rappaport, Maney and Fisher and Mses. Cogan and DeCotis. Ms. DeCotis serves as Chair of the Board-Nominated Trustees Committee. The Board-Nominated Trustees Committee’s purpose is to handle these responsibilities that have been performedprovide a body pursuant to date bywhich the Board-Nominated Trustees may meet separately to consider and formulate recommendations for the full Board regarding (i) matters with respect to which Trustees who are not Board-Nominated Trustees may be deemed to have a conflict or potential conflict of interest, including, without limitation, conflicts involving affiliations with parties adverse to the Funds or Trustees in litigation or potential litigation and held its initial meeting in September 2017.(ii) other matters that may be deemed appropriate for separate consideration by the Board-Nominated Trustees.
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Meetings. With respect to each Fund, during the fiscal year ended December 31, 2016,2019, the Board of Trustees held four regular meetings and one special meeting. The Audit Oversight Committee met in separate session sevenfive times, the Governance and Nominating Committee met in separate session one time,three times, the Valuation Oversight Committee met in separate session fivefour times, the Compensation Committee met in separate session one time, and the Contracts Committee met in separate session three times and the Performance Committee met in separate session four times. The PerformanceBoard-Nominated Trustees Committee was established on March 23, 2017,26, 2019 and therefore did not meet during the fiscal year.year ended December 31, 2019. Each Trustee attended in person orvia teleconference at least 75% of the regular meetings of the Board and meetings of the committees on which such Trustee served for each Fund that were held during the fiscal year ended December 31, 2016.2019.
The Trustees generally do not attend the annual shareholder meetings.
Shareholder Communications with the Board of Trustees. The Board of Trustees of each Fund has adopted procedures by which Shareholders may send communications to the Board. Shareholders may mail written communications to the Board to the attention of the Board of Trustees, [name of Fund], c/o Joshua D. Ratner, Vice President, Secretary and Chief Legal Officer (“CLO”),Fund Administration, Pacific Investment Management Company LLC, 1633 Broadway, New York, New York 10019. Shareholder communications must (i) be in writing and be signed by the Shareholder and (ii) identify the class and number of Shares held by the Shareholder. The CLOSecretary of each Fund or hisher designee is responsible for reviewing properly submitted shareholder communications. The CLOSecretary shall either (i) provide a copy of each properly submitted shareholder communication to the Board at its next regularly scheduled Board meeting or (ii) if the CLOSecretary determines that the communication requires more immediate attention, forward the communication
38
to the Trustees promptly after receipt. The CLOSecretary may, in good faith, determine that a shareholder communication should not be provided to the Board because it does not reasonably relate to a Fund or its operations, management, activities, policies, service providers, Board, officers, shareholders or other matters relating to an investment in a Fund or is otherwise routine or ministerial in nature. These procedures do not apply to (i) any communication from an officer or Trustee of a Fund, (ii) any communication from an employee or agent of a Fund, unless such communication is made solely in such employee’s or agent’s capacity as a shareholder, or (iii) any shareholder proposal submitted pursuant to Rule14a-8 under the Exchange Act or any communication made in connection with such a proposal. A Fund’s Trustees are not required to attend the Fund’s annual shareholder meetings or to otherwise make themselves available to shareholders for communications, other than by the aforementioned procedures.
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Section 16(a) Beneficial Ownership Reporting Compliance.Reports. Each Fund’s Trustees and certain officers, investment adviser, certain affiliated persons of the investment adviser and persons who beneficially own more than 10% of any class of outstanding securities of a Fund (i.e., a Fund’s Common Shares or Preferred Shares) are required to file forms reporting their affiliation with the Fund and reports of ownership and changes in ownership of the Fund’s securities with the Securities and Exchange Commission (the “SEC”) and the NYSE. These persons and entities are required by SEC regulation to furnish each Fund with copies of all such forms they file. Based solely on a review of these forms furnished to each Fundfiled electronically with the SEC and any written representation from reporting persons during the most recently concluded fiscal year, each Fund believes that each of the Trustees and officers, investment adviser and relevant affiliated persons of the investment adviser and the persons who beneficially own more than 10% of any class of outstanding securities of the Fund has complied with all applicable filing requirements during each Fund’s respective fiscal year.
Required Vote. There-election of Messrs. DawsonFisher and GallaherOgden and the election of Messrs. Maney and OgdenMr. Kittredge to the BoardBoards of PMF, PCQ, PNF, PML, PCK and PNI will require the affirmative vote of a plurality of the votes of the Common Shareholders and Preferred Shareholders (voting together as a single class) of the relevant Fund cast in the election of Trustees at the Meeting, in person or by proxy. There-election of Ms. DeCotis and Mr. DawsonMessrs. Fisher and Ogden and the election of Messrs. Maney and OgdenMr. Kittredge to the BoardBoards of PMX PZC and PYNPZC will require the affirmative vote of a plurality of the votes of the Common Shareholders and Preferred Shareholders (voting together as a single class) of the relevant Fund cast in the election of Trustees at the Meeting, in person or by proxy. The requirement for “the affirmative vote of a plurality of the votes… cast” means, assuming that a quorum is present, that the nominee who receives the largest number of votes of the applicable Shares cast in person or by proxy at the Meeting (even if he or she receives less than a majority) will be elected or re-elected, as applicable, as a Trustee.
39
THE BOARD OF TRUSTEES OF EACH FUND UNANIMOUSLY RECOMMENDS THAT YOU VOTE FOR THIS PROPOSAL AND THE PROPOSALBOARD NOMINEES FOR EACH FUND.
ADDITIONAL INFORMATION
Executive and Other Officers of the Funds. The table below provides certain information concerning the executive officers of the Funds and certain other officers who perform similar duties. Officers of the Funds hold office at the pleasure of the relevant Board and until their successors are chosen and qualified, or in each case until he or she sooner dies, resigns, is removed with or without cause or becomes disqualified. Officers and employees of the Funds who are principals, officers, members or employees of the Manager are not compensated by the Funds.Funds
Name, Address and Year of Birth | Position(s) Held with Fund | Length of | Principal Occupation(s) During the Past 5 Years | |||
Eric D. Johnson1 1970 | President | Since 2019 | Executive Vice President and Head of Funds Business Group Americas, PIMCO. President, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series and PIMCO Equity Series VIT. | |||
Keisha Audain-Pressley2 1975 | Chief Compliance Officer | Since 2018 | Executive Vice President and Deputy Chief Compliance Officer, PIMCO. Chief Compliance Officer, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series and PIMCO Equity Series VIT. | |||
Ryan G. Leshaw1 1980 | Chief Legal Officer | Since 2019 | Senior Vice President and Senior Counsel, PIMCO. Chief Legal Officer, PIMCO-Managed Funds. Vice President, Senior Counsel and Secretary, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series and PIMCO Equity Series VIT. Formerly, Associate, Willkie Farr & Gallagher LLP. |
2940
Name, and Year of Birth | Position(s) Held with Fund |
Length of
| Principal Occupation(s) During the Past 5 Years | |||
Joshua D. Ratner2 1976 | Senior Vice President | Since 2019 | Executive Vice President and Head of Americas Operations, PIMCO. Senior Vice President, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series and PIMCO Equity Series VIT. | |||
Peter G. Strelow1 1970 | Senior Vice President | Since | Managing Director andCo-Chief Operating Officer, PIMCO. Senior Vice President, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series and PIMCO Equity Series VIT. Formerly, Chief Administrative Officer, | |||
| Secretary | Since | ||||
1976 | Vice President | Since | Executive Vice President, |
3041
Name, and Year of Birth | Position(s) Held with Fund |
Length of
| Principal Occupation(s) During the Past 5 Years | |||
| ||||||
| ||||||
| Vice President | Since | ||||
| Since | |||||
Colleen Miller2 1980 | Deputy Treasurer | Since September 2020 | Senior Vice President, PIMCO. Deputy Treasurer, PIMCO-Managed | |||
|
31
|
|
| ||||
| ||||||
Erik C. Brown 1967 | Assistant Treasurer | Since 2015 | Executive Vice President, PIMCO. Assistant Treasurer, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series and PIMCO Equity Series VIT. | |||
| Assistant Treasurer | Since | ||||
| Assistant Treasurer | Since | Senior Vice President, PIMCO. Assistant Treasurer, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series and PIMCO Equity Series VIT. |
42
and Year of Birth | Position(s) Held with Fund | Length of | Principal Occupation(s) During the Past 5 Years | |||
Bijal Parikh1
| Assistant Treasurer | Since | Senior Vice President, PIMCO. Assistant Treasurer, PIMCO-Managed |
32
|
|
| |||||||
| Assistant Treasurer | Since | Senior Vice President, PIMCO. Assistant Treasurer, PIMCO-Managed Funds, PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series and PIMCO Equity Series VIT. | ||||||
|
1 | The address of these officers is Pacific Investment Management Company LLC, 650 Newport Center Drive, Newport Beach, California 92660. |
2 | The address of these officers is Pacific Investment Management Company LLC, 1633 Broadway, New York, New York 10019. |
Each of the Funds’ executive officers is an “interested person” of each Fund (as defined in Section 2(a)(19) of the 1940 Act) as a result of his or her position(s) set forth in the table above.
Investment Manager. Effective atThe Manager serves as the closeinvestment manager of business on September 5, 2014,the Funds. Subject to the supervision of the Board, the Manager is responsible for managing the investment activities of the Funds and the Funds’ business affairs and other administrative matters. The Manager is located at 650 Newport Center Drive, Newport Beach, CA, 92660, assumed responsibility as the investment manager to the Funds pursuant to a new investment management agreement (the “Agreement”) between each Fund and the Manager (the “Transition”). Under the Agreement, the Manager provides theday-to-day portfolio management services it provided to each Fund as itssub-adviser prior to the Transition and also assumed responsibility for the supervisory and administrative services previously provided by each Fund’s former investment manager, Allianz Global Investors Fund Management LLC (“AGIFM”). As part of the Transition, the Manager’s personnel replaced AGIFM personnel as officers of each Fund and in other roles to provide and/or oversee the administrative, accounting/financial reporting, compliance, legal, marketing, transfer agency, shareholder servicing and other services required for the daily
33
operations of the Funds.92660. The Manager is a majority-owned indirect subsidiary of Allianz SE, a publicly traded European insurance and financial services company.
Independent Registered Public Accounting Firm. The Audit Oversight Committee of each Fund’s Board and the full Board of each Fund unanimously selected PricewaterhouseCoopers LLP (“PwC”) as the independent registered public accounting firm for the fiscal year ending December 31, 20172020 for the Funds. PwC served as the independent registered public accounting firm of each Fund for the fiscal yearsyear ended December 31, 2016 for each Fund2019 and also serves as the independent registered public accounting firm of various other investment companies for which the Manager serves as investment adviser. PwC is located at 300 Madison Avenue, New York, New York 10017. None of the Funds knows
43
of any direct financial or material indirect financial interest of PwC in the Funds. A representative of PwC, if requested by any Shareholder, will be present at the Meetingvia telephone to respond to appropriate questions from Shareholders and will have an opportunity to make a statement if he or she chooses to do so.
Pre-approval Policies and Procedures. Each Fund’s Audit Oversight Committee has adopted written policies relating to thepre-approval of audit and permittednon-audit services to be performed by the Fund’s independent registered public accounting firm. Under the policies, on at least an annual basis, a Fund’s Audit Oversight Committee reviews andpre-approves proposed audit and permittednon-audit services to be performed by the independent registered public accounting firm on behalf of the Fund.
In addition, each Fund’s Audit Oversight Committeepre-approves at least annually any permittednon-audit services (including audit-related services) to be provided by the independent registered public accounting firm to the Manager and any entity controlling, controlled by, or under common control with the Manager that provides ongoing services to the Fund (together, the “Accounting Affiliates”), provided, in each case, that the engagement relates directly to the operations and financial reporting of the Fund. Although the Audit Oversight Committee does notpre-approve all services provided by the independent registered public accounting firm to Accounting Affiliates (for instance, if the engagement does not relate directly to the operations and financial reporting of the Fund), the Committee receives an annual report from the independent registered public accounting firm showing the aggregate fees paid by Accounting Affiliates for such services.
Each Fund’s Audit Oversight Committee may also from time to timepre-approve individualnon-audit services to be provided to the Fund or an Accounting Affiliate that were notpre-approved as part of the annual process described above. A member of the Audit Oversight Committee to whom this
34
responsibility has been delegated (a “Designated Member”) may alsopre-approve these individualnon-audit services, provided that the fee for such services does not exceed apre-determined dollar threshold. Any suchpre-approval by the Designated Member is reported to the full Audit Oversight Committee for ratification at its next regularly scheduled meeting.
Thepre-approval policies provide for waivers of the requirement that the Audit Oversight Committeepre-approve permittednon-audit services provided to the Funds or their Accounting Affiliates pursuant to de minimis exceptions described in Section 10A of the Exchange Act and applicable regulations (referred to herein as the “de minimis exception”).
44
Audit Fees. Audit Fees are fees related to the audit and review of the financial statements included in annual reports and registration statements, and other services that are normally provided in connection with statutory and regulatory filings or engagements. For each Fund’s last two full fiscal years and “stub” period (as applicable) as reflected below, the Audit Fees billed by PwC to the Fund or to PIMCO with respect to the Fund are shown in the table below:
Fund | Fiscal Year Ended | Audit Fees | ||||||
PMF | December 31, 2016 | $ | 31,160 | |||||
December 31, 2015 | ** | $ | 28,712 | |||||
April 30, 2015 | $ | 28,960 | ||||||
PCQ | December 31, 2016 | $ | 31,160 | |||||
December 31, 2015 | ** | $ | 28,712 | |||||
April 30, 2015 | $ | 28,445 | ||||||
PNF | December 31, 2016 | $ | 25,840 | |||||
December 31, 2015 | ** | $ | 23,532 | |||||
April 30, 2015 | $ | 23,733 | ||||||
PML | December 31, 2016 | $ | 38,912 | |||||
December 31, 2015 | *** | $ | 36,260 | |||||
May 31, 2015 | $ | 35,189 | ||||||
PCK | December 31, 2016 | $ | 31,160 | |||||
December 31, 2015 | *** | $ | 28,712 | |||||
May 31, 2015 | $ | 28,548 | ||||||
PNI | December 31, 2016 | $ | 25,840 | |||||
December 31, 2015 | *** | $ | 23,532 | |||||
May 31, 2015 | $ | 23,734 | ||||||
PMX | December 31, 2016 | $ | 31,160 | |||||
December 31, 2015 | **** | $ | 21,534 | |||||
September 30, 2015 | $ | 26,455 |
Fund | Fiscal Year Ended | Audit Fees | ||||||||
PMF | December 31, 2019 | $ | 48,430 | |||||||
December 31, 2018 | $ | 42,453 | ||||||||
PCQ | December 31, 2019 | $ | 48,430 | |||||||
December 31, 2018 | $ | 38,160 | ||||||||
PNF | December 31, 2019 | $ | 42,084 | |||||||
December 31, 2018 | $ | 36,411 | ||||||||
PML | December 31, 2019 | $ | 57,782 | |||||||
December 31, 2018 | $ | 51,357 | ||||||||
PCK | December 31, 2019 | $ | 48,430 | |||||||
December 31, 2018 | $ | 42,453 | ||||||||
PNI | December 31, 2019 | $ | 43,921 | |||||||
December 31, 2018 | $ | 36,411 | ||||||||
PMX | December 31, 2019 | $ | 48,430 | |||||||
December 31, 2018 | $ | 42,453 | ||||||||
PZC | December 31, 2019 | $ | 43,921 | |||||||
December 31, 2018 | $ | 38,160 |
35
Fund | Fiscal Year Ended | Audit Fees | ||||||
PZC | December 31, 2016 | $ | 27,360 | |||||
December 31, 2015 | **** | $ | 18,759 | |||||
September 30, 2015 | $ | 22,880 | ||||||
PYN | December 31, 2016 | $ | 23,560 | |||||
December 31, 2015 | **** | $ | 15,984 | |||||
September 30, 2015 | $ | 19,305 |
Audit-Related Fees. Audit-Related Fees are fees related to assurance and related services that are reasonably related to the performance of the audit or review of financial statements, but not reported under “Audit Fees” above, and that include accounting consultations, attestation reports, comfort letters, and agreed-upon procedure reports (inclusive of annual review of basic maintenance testing associated with the Preferred Shares for the Funds), if applicable. The table below shows, for each Fund’s last two full fiscal years and “stub” period (as applicable) as reflected below, the Audit-Related Fees billed by PwC to the Fund or to PIMCO with respect to the Fund. During those fiscal years, there were no Audit-Related Fees billed by PwC to the Funds’ Accounting Affiliates for audit-related services related directly to the operation and financial reporting of the Funds.
Fund | Fiscal Year Ended | Audit-Related Fees | ||||||
PMF | December 31, 2016 | $ | 9,500 | |||||
December 31, 2015 | ** | $ | 8,584 | |||||
April 30, 2015 | $ | 8,584 | ||||||
PCQ | December 31, 2016 | $ | 9,500 | |||||
December 31, 2015 | ** | $ | 8,584 | |||||
April 30, 2015 | $ | 8,583 | ||||||
PNF | December 31, 2016 | $ | 9,500 | |||||
December 31, 2015 | ** | $ | 8,584 | |||||
April 30, 2015 | $ | 8,583 | ||||||
PML | December 31, 2016 | $ | 9,500 | |||||
December 31, 2015 | *** | $ | 8,584 | |||||
May 31, 2015 | $ | 8,584 | ||||||
PCK | December 31, 2016 | $ | 9,500 | |||||
December 31, 2015 | *** | $ | 8,584 | |||||
May 31, 2015 | $ | 8,583 | ||||||
PNI | December 31, 2016 | $ | 9,500 | |||||
December 31, 2015 | *** | $ | 8,584 | |||||
May 31, 2015 | $ | 8,583 | ||||||
PMX | December 31, 2016 | $ | 9,500 | |||||
December 31, 2015 | **** | $ | 8,584 | |||||
September 30, 2015 | $ | 8,584 |
Fund | Fiscal Year Ended | Audit-Related Fees | ||||||||
PMF | December 31, 2019 | $ | 10,500 | |||||||
December 31, 2018 | $ | 9,500 | ||||||||
PCQ | December 31, 2019 | $ | 10,500 | |||||||
December 31, 2018 | $ | 9,500 |
3645
Fund | Fiscal Year Ended | Audit-Related Fees | Fiscal Year Ended | Audit-Related Fees | ||||||||||||||
PNF | December 31, 2019 | $ | 10,500 | |||||||||||||||
December 31, 2018 | $ | 9,500 | ||||||||||||||||
PML | December 31, 2019 | $ | 10,500 | |||||||||||||||
December 31, 2018 | $ | 9,500 | ||||||||||||||||
PCK | December 31, 2019 | $ | 10,500 | |||||||||||||||
December 31, 2018 | $ | 9,500 | ||||||||||||||||
PNI | December 31, 2019 | $ | 10,500 | |||||||||||||||
December 31, 2018 | $ | 9,500 | ||||||||||||||||
PMX | December 31, 2019 | $ | 10,500 | |||||||||||||||
December 31, 2018 | $ | 9,500 | ||||||||||||||||
PZC | December 31, 2016 | $ | 9,500 | December 31, 2019 | $ | 10,500 | ||||||||||||
December 31, 2015 | **** | $ | 8,584 | December 31, 2018 | $ | 9,500 | ||||||||||||
September 30, 2015 | $ | 8,584 | �� | |||||||||||||||
PYN | December 31, 2016 | $ | 9,500 | |||||||||||||||
December 31, 2015 | **** | $ | 8,584 | |||||||||||||||
September 30, 2015 | $ | 8,584 |
Tax Fees. Tax Fees are fees associated with tax compliance, tax advice and tax planning, including services relating to the filing or amendment of federal, state or local income tax returns, regulated investment company qualification reviews, and tax distribution and analysis reviews. The table below shows, for each Fund’s last two fiscal years and “stub” period as reflected below, the aggregate Tax Fees billed by PwC to the Fund or to PIMCO with respect to the Fund. During those fiscal years, there were no Tax Fees billed by PwC to the Funds’ Accounting Affiliates fortax-related services related directly to the operation and financial reporting of the Funds.
Fund | Fiscal Year Ended | Tax Fees | ||||||
PMF | December 31, 2016 | $ | — | |||||
December 31, 2015 | ** | $ | 12,450 | |||||
April 30, 2015 | $ | 15,450 | ||||||
PCQ | December 31, 2016 | $ | — | |||||
December 31, 2015 | ** | $ | 12,450 | |||||
April 30, 2015 | $ | 15,950 | ||||||
PNF | December 31, 2016 | $ | — | |||||
December 31, 2015 | ** | $ | 12,450 | |||||
April 30, 2015 | $ | 15,950 | ||||||
PML | December 31, 2016 | $ | — | |||||
December 31, 2015 | *** | $ | 8,500 | |||||
May 31, 2015 | $ | 15,950 | ||||||
PCK | December 31, 2016 | $ | — | |||||
December 31, 2015 | *** | $ | 8,500 | |||||
May 31, 2015 | $ | 15,450 | ||||||
PNI | December 31, 2016 | $ | — | |||||
December 31, 2015 | *** | $ | 8,500 | |||||
May 31, 2015 | $ | 15,450 | ||||||
PMX | December 31, 2016 | $ | — | |||||
December 31, 2015 | **** | $ | 7,500 | |||||
September 30, 2015 | $ | 19,700 | ||||||
PZC | December 31, 2016 | $ | — | |||||
December 31, 2015 | **** | $ | 7,500 | |||||
September 30, 2015 | $ | 18,700 |
Fund | Fiscal Year Ended | Tax Fees | ||||||||
PMF | December 31, 2019 | $ | — | |||||||
December 31, 2018 | $ | — | ||||||||
PCQ | December 31, 2019 | $ | — | |||||||
December 31, 2018 | $ | — | ||||||||
PNF | December 31, 2019 | $ | — | |||||||
December 31, 2018 | $ | — | ||||||||
PML | December 31, 2019 | $ | — | |||||||
December 31, 2018 | $ | — | ||||||||
PCK | December 31, 2019 | $ | — | |||||||
December 31, 2018 | $ | — | ||||||||
PNI | December 31, 2019 | $ | — | |||||||
December 31, 2018 | $ | — | ||||||||
PMX | December 31, 2019 | $ | — | |||||||
December 31, 2018 | $ | — | ||||||||
PZC | December 31, 2019 | $ | — | |||||||
December 31, 2018 | $ | — |
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Fund | Fiscal Year Ended | Tax Fees | ||||||
PYN | December 31, 2016 | $ | — | |||||
December 31, 2015 | **** | $ | 7,500 | |||||
September 30, 2015 | $ | 15,450 |
All Other Fees. All Other Fees are fees related to services other than those reported above under “Audit Fees,” “Audit-Related Fees” and “Tax Fees.” For each Fund’s last two fiscal years, and “stub” period (as applicable), no such fees were billed by PwC to the Fund or the Fund’s Accounting Affiliates.
During the periods indicated in the tables above, no services described under “Audit-Related Fees,” “Tax Fees” or “All Other Fees” were approved pursuant to the de minimis exception.
AggregateNon-Audit Fees. The aggregatenon-audit fees billed by PwC, during each Fund’s last two fiscal years and “stub period” (as applicable) as reflected below, for services rendered to each Fund and the Fund’s Accounting Affiliates are shown in the table below.
Fund | Fiscal Year Ended | Aggregate Non-Audit Fees for Fund | Non-Audit Fees for Accounting Affiliates | Aggregate Non-Audit Fees* | ||||||||||||
PMF | December 31, 2016 | $ | 9,500 | $ | 6,210,720 | $ | 6,220,220 | |||||||||
December 31, 2015 | ** | $ | 21,034 | $ | 9,180,305 | $ | 9,201,339 | |||||||||
April 30, 2015 | $ | 24,034 | $ | 9,379,621 | $ | 9,403,655 | ||||||||||
PCQ | December 31, 2016 | $ | 9,500 | $ | 6,210,720 | $ | 6,220,220 | |||||||||
December 31, 2015 | ** | $ | 21,034 | $ | 9,180,305 | $ | 9,201,339 | |||||||||
April 30, 2015 | $ | 24,533 | $ | 9,379,621 | $ | 9,404,154 | ||||||||||
PNF | December 31, 2016 | $ | 9,500 | $ | 6,210,720 | $ | 6,220,220 | |||||||||
December 31, 2015 | ** | $ | 21,034 | $ | 9,180,305 | $ | 9,201,339 | |||||||||
April 30, 2015 | $ | 24,533 | $ | 9,379,621 | $ | 9,404,154 | ||||||||||
PML | December 31, 2016 | $ | 9,500 | $ | 6,210,720 | $ | 6,220,220 | |||||||||
December 31, 2015 | *** | $ | 17,084 | $ | 9,180,305 | $ | 9,197,389 | |||||||||
May 31, 2015 | $ | 24,534 | $ | 9,379,621 | $ | 9,404,155 | ||||||||||
PCK | December 31, 2016 | $ | 9,500 | $ | 6,210,720 | $ | 6,220,220 | |||||||||
December 31, 2015 | *** | $ | 17,084 | $ | 9,180,305 | $ | 9,197,389 | |||||||||
May 31, 2015 | $ | 24,033 | $ | 9,379,621 | $ | 9,403,654 | ||||||||||
PNI | December 31, 2016 | $ | 9,500 | $ | 6,210,720 | $ | 6,220,220 | |||||||||
December 31, 2015 | *** | $ | 17,084 | $ | 9,180,305 | $ | 9,197,389 | |||||||||
May 31, 2015 | $ | 24,033 | $ | 9,379,621 | $ | 9,403,654 | ||||||||||
PMX | December 31, 2016 | $ | 9,500 | $ | 6,210,720 | $ | 6,220,220 | |||||||||
December 31, 2015 | **** | $ | 16,084 | $ | 9,180,305 | $ | 9,196,389 | |||||||||
September 30, 2015 | $ | 28,284 | $ | 9,861,441 | $ | 9,889,725 |
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Fund | Fiscal Year Ended | Aggregate Non-Audit Fees for Fund | Non-Audit Fees for Accounting Affiliates | Aggregate Non-Audit Fees* | Fiscal Year Ended | Aggregate Non-Audit Fees for Fund | Non-Audit Fees for Accounting Affiliates | Aggregate Non-Audit Fees* | ||||||||||||||||||||||||||||
PMF | December 31, 2019 | $ | 10,500 | $ | 17,878,830 | $ | 17,889,330 | |||||||||||||||||||||||||||||
December 31, 2018 | $ | 9,500 | $ | 8,437,919 | $ | 8,447,419 | ||||||||||||||||||||||||||||||
PCQ | December 31, 2019 | $ | 10,500 | $ | 17,878,830 | $ | 17,889,330 | |||||||||||||||||||||||||||||
December 31, 2018 | $ | 9,500 | $ | 8,437,919 | $ | 8,447,419 | ||||||||||||||||||||||||||||||
PNF | December 31, 2019 | $ | 10,500 | $ | 17,878,830 | $ | 17,889,330 | |||||||||||||||||||||||||||||
December 31, 2018 | $ | 9,500 | $ | 8,437,919 | $ | 8,447,419 | ||||||||||||||||||||||||||||||
PML | December 31, 2019 | $ | 10,500 | $ | 17,878,830 | $ | 17,889,330 | |||||||||||||||||||||||||||||
December 31, 2018 | $ | 9,500 | $ | 8,437,919 | $ | 8,447,419 | ||||||||||||||||||||||||||||||
PCK | December 31, 2019 | $ | 10,500 | $ | 17,878,830 | $ | 17,889,330 | |||||||||||||||||||||||||||||
December 31, 2018 | $ | 9,500 | $ | 8,437,919 | $ | 8,447,419 | ||||||||||||||||||||||||||||||
PNI | December 31, 2019 | $ | 10,500 | $ | 17,878,830 | $ | 17,889,330 | |||||||||||||||||||||||||||||
December 31, 2018 | $ | 9,500 | $ | 8,437,919 | $ | 8,447,419 | ||||||||||||||||||||||||||||||
PMX | December 31, 2019 | $ | 10,500 | $ | 17,878,830 | $ | 17,889,330 | |||||||||||||||||||||||||||||
December 31, 2018 | $ | 9,500 | $ | 8,437,919 | $ | 8,447,419 | ||||||||||||||||||||||||||||||
PZC | December 31, 2016 | $ | 9,500 | $ | 6,210,720 | $ | 6,220,220 | December 31, 2019 | $ | 10,500 | $ | 17,878,830 | $ | 17,889,330 | ||||||||||||||||||||||
December 31, 2015 | **** | $ | 16,084 | $ | 9,180,305 | $ | 9,196,389 | December 31, 2018 | $ | 9,500 | $ | 8,437,919 | $ | 8,447,419 | ||||||||||||||||||||||
September 30, 2015 | $ | 27,284 | $ | 9,861,441 | $ | 9,888,725 | ||||||||||||||||||||||||||||||
PYN | December 31, 2016 | $ | 9,500 | $ | 6,210,720 | $ | 6,220,220 | |||||||||||||||||||||||||||||
December 31, 2015 | **** | $ | 16,084 | $ | 9,180,305 | $ | 9,196,389 | |||||||||||||||||||||||||||||
September 30, 2015 | $ | 24,034 | $ | 9,861,441 | $ | 9,885,475 |
* | Includes the sum of the AggregateNon-Audit Fees for Fund and theNon-Audit Fees for Accounting Affiliates as noted in the columns to the left. |
The table below shows a breakdown of the fees billed by PwC to each Fund, or to PIMCO with respect to each Fund, for the most recently completed fiscal year attributable the following categories: 1) Audit Fees, 2) Audit-Related Fees, 3) Tax Compliance/Preparation fees and 4) All Other Fees, as well as the percentage of the total fees billed attributable to the “All Other Fees” category.
PMF (Fiscal Year Ended December 31, 2016) | PCQ (Fiscal Year Ended December 31, 2016) | PNF (Fiscal Year Ended December 31, 2016) | PML (Fiscal Year Ended December 31, 2016) | PCK (Fiscal Year Ended December 31, 2016) | PNI (Fiscal Year Ended December 31, 2016) | |||||||||||||||||||
Audit Fees | $ | 31,160 | $ | 31,160 | $ | 25,840 | $ | 38,912 | $ | 31,160 | $ | 25,840 | ||||||||||||
Audit-Related Fees | $ | 9,500 | $ | 9,500 | $ | 9,500 | $ | 9,500 | $ | 9,500 | $ | 9,500 | ||||||||||||
Tax Compliance/Tax Return Preparation Fees | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
All Other Fees | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
Percentage of Total Fees attributable to All Other Fees | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % |
3947
PMX (Fiscal Year Ended December 31, 2016) | PZC (Fiscal Year Ended December 31, 2016) | PYN (Fiscal Year Ended December 31, 2016) | PMF (Fiscal Year Ended December 31, 2019) | PCQ (Fiscal Year Ended December 31, 2019) | PNF (Fiscal Year Ended December 31, 2019) | PML (Fiscal Year Ended December 31, 2019) | PCK (Fiscal Year Ended December 31, 2019) | PNI (Fiscal Year Ended December 31, 2019) | PMX (Fiscal Year Ended December 31, 2019) | PZC (Fiscal Year Ended December 31, 2019) | ||||||||||||||||||||||||||||||||||||||||||
Audit Fees | $ | 31,160 | $ | 27,360 | $ | 23,560 | $ | 48,430 | $ | 48,430 | $ | 42,084 | $ | 57,782 | $ | 48,430 | $ | 43,921 | $ | 48,430 | $ | 43,921 | ||||||||||||||||||||||||||||||
Audit-Related Fees | $ | 9,500 | $ | 9,500 | $ | 9,500 | $ | 10,500 | $ | 10,500 | $ | 10,500 | $ | 10,500 | $ | 10,500 | $ | 10,500 | $ | 10,500 | $ | 10,500 | ||||||||||||||||||||||||||||||
Tax Compliance/Tax Return Preparation Fees | $ | 0 | $ | 0 | $ | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
Tax Compliance/ Tax Return Preparation Fees | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||||||||||||||||||||||||||
All Other Fees | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||||||||||||||||||||
Percentage of Total Fees attributable to All Other Fees | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % |
Each Fund’s Audit Oversight Committee has determined that the provision by PwC ofnon-audit services to the Fund’s Accounting Affiliates that were notpre-approved by the Committee was compatible with maintaining the independence of PwC as the Fund’s principal auditors.
Effective at the close of business on September 5, 2014, pursuant to its Investment Management Agreement with the Funds, PIMCO began bearing Audit Fees, Audit-Related Fees, Tax Fees and All Other Fees with respect to the Funds under its new investment management agreement with the Funds. These fees were borne by the Funds for periods prior to September 5, 2014.
Other Business. As of the date of this Proxy Statement, each Fund’s officers and the Manager know of no business to come before the Meeting other than as set forth in the Notice. If any other business is properly brought before the Meeting, the persons named as proxies will vote in their sole discretion.
Quorum, Adjournments, Meeting Logistics and Methods of Tabulation. A quorum for each Fund at the Meeting will consist of the presence in person or by proxy of thirty percent (30%) of the total Shares of the Fund entitled to vote at such Meeting, except that, where the Preferred Shares or Common Shares will vote as separate classes, then 30% of the shares of each class entitled to vote will be necessary to constitute a quorum for the transaction of business by that class. By way of clarification, in the case of Preferred Shares voting as a separate class, 30% of the total number of ARPS and VMTPS entitled to vote (regardless of the relative liquidation preference of the shares) will be necessary to constitute a quorum. If the quorum required for a Proposal has not been met, the persons named as proxies may propose adjournment of the Meeting with respect to such Proposal and, if adjournment is proposed, will vote all Shares that they are entitled to vote in favor of such adjournment. Any adjournments with respect to the Proposal for a Fund will require the affirmative vote of a plurality of the Shares of the relevant Fund entitled to vote thereon present in person or represented by proxy at the session of the Meeting to be adjourned. However, where the Preferred Shares or Common Shares will vote as separate classes, the affirmative vote of a plurality of shares of the applicable class present in person or by proxy at the session of the Meeting to be adjourned will be necessary to adjourn the Meeting with respect to that class. The costs of
48
any additional solicitation and of any adjourned session will be borne by PIMCO under its investment management agreement
40
with the Funds. Any proposalsproposal properly brought before the Meeting for which sufficient favorable votes have been received by the time of the Meeting will be acted upon and such action will be final regardless of whether the Meeting is adjourned to permit additional solicitation with respect to any other proposal with respect to which a quorum has not been reached. In certain circumstances in which a Fund has received sufficient votes to approve a matter being recommended for approval by the Fund’s Board, the Fund may request that brokers and nominee entities, in their discretion, withhold or withdraw submission of brokernon-votes in order to avoid the need for solicitation of additional votes in favor of the proposal.
Votes cast by proxy or in person at the Meeting will be counted by persons appointed by the Funds as tellers (the “Tellers”) for the Meeting. For purposes of determining the presence of a quorum for each Fund, the Tellers will include the total number of Shares present at the Meeting in person or by proxy, including Shares represented by proxies that reflect abstentions and “brokernon-votes” (i.e., shares held by brokers or nominees as to which instructions have not been received from the beneficial owners or the persons entitled to vote and the broker or nominee does not have the discretionary voting power on a particular matter). For a proposal requiring approval of a plurality of votes cast, such as the election of Trustees, abstentions and brokernon-votes will have no effect onnot be counted towards the outcomeachievement of a plurality of votes cast for a nominee. In the case of a contested election, abstentions and non-votes may require a nominee to receive a higher percentage of the votes cast in order to achieve a plurality of the votes cast, but will not be counted as votes against such nominee’s election.
PIMCO is sensitive to the health and travel concerns of the Funds’ shareholders and the evolving recommendations from public health officials. Due to the difficulties arising from the coronavirus known as COVID-19, the date, time, location or means of conducting the Meeting may change. In the event of such a Proposal.change, the Funds will issue a press release announcing the change and file the announcement on the SEC’s EDGAR system, among other steps, but may not deliver additional soliciting materials to shareholders or otherwise amend the Funds’ proxy materials. Although no decision has been made, the Funds may consider imposing additional procedures or limitations on Meeting attendees or conducting the Meeting as a “virtual” shareholder meeting through the internet or other electronic means in lieu of an in-person meeting, subject to any restrictions imposed by applicable law. If the Meeting will be held virtually in whole or in part, a Fund will notify its shareholders of such plans in a timely manner and disclose clear directions as to the logistical details of the “virtual” meeting, including how shareholders can remotely access, participate in and vote at such meeting. The Funds plan to announce these changes, if any, at pimco.com/en-us/our-firm/press-release, and encourage you to check this website prior to the Meeting if you plan to attend.
49
Reports to Shareholders. Below are the dates on or about which the Annual Reports to Shareholders for the most recently completed fiscal year of each Fund were mailed:
Fund | Mail Date for Annual Report to Shareholders for the Most Recently Completed Fiscal Year | |||||
PMF/PCQ/PNF/PML/PCK/PNI/PMX/ | March |
Additional copies of the Funds’ Annual Reports and Semi-Annual Reports may be obtained without charge from the Funds by calling1-(844)-337-4626, or by visiting the Funds’ website at pimco.com/closedendfunds.closedendfunds or by writing to the Funds at 1633 Broadway, New York, New York 10019.
Shareholder Proposals for the Annual Meeting held during the 20182021 Fiscal Year. It is currently anticipated that each Fund’s next annual meeting of Shareholders after the Meeting addressed in this Proxy Statement will be held in December 2018.2021. Proposals of Shareholders intended to be presented at that annual meeting of each Fund must be received by each Fund no later than July 6, 201815, 2021 for inclusion in each Fund’s proxy statement and proxy cards relating to
41
that meeting. The submission by a Shareholder of a proposal for inclusion in the proxy materials does not guarantee that it will be included. Shareholder proposals are subject to certain requirements under the federal securities laws and must be submitted in accordance with the applicable Fund’s Bylaws. Shareholders submitting any other proposals (including proposals to elect Trustee nominees) for each Fund intended to be presented at the annual meeting held during the 20182021 fiscal year (i.e., other than those to be included in the Fund’s proxy materials) must ensure that such proposals are received by each Fund, in good order and complying with all applicable legal requirements and requirements set forth in each Fund’s Bylaws. Each Fund’s Bylaws provide that any such proposal must be received in writing by each Fund not less than 45 days nor more than 60 days prior to the first anniversary date of the date on which each Fund first mailed its proxy materials for the prior year’s shareholder meeting; provided that, if, in accordance with applicable law, the upcoming shareholder meeting is set for a date that is not within 30 days from the anniversary of each Fund’s prior shareholder meeting, such proposal must be received by the later of the close of business on (i) the date 45 days prior to such upcoming shareholder meeting date or (ii) the 10th10th business day following the date such upcoming shareholder meeting date is first publicly announced or disclosed. Assuming the next annual meeting is ultimately scheduled to be within 30 days of the December 1918 anniversary of this year’s meeting, such proposals must be received no earlier than September 4, 201814, 2021 and no later than September 19, 201829, 2021 for each Fund. If a Shareholder who wishes to present a
50
proposal fails to notify the Fund within these dates described above, the proxies solicited for the meeting will be voted on the Shareholder’s proposal, if it is properly brought before the meeting, in accordance with the judgment of the persons named in the enclosed proxy card(s). If a Shareholder makes a timely notification, the proxies may still exercise discretionary voting authority under circumstances consistent with the SEC’s proxy rules. Shareholder proposals should be addressed to the attention of the Secretary of the applicable Fund, at the address of the principal executive offices of the Fund, with a copy to David C. Sullivan, Ropes & Gray LLP, Prudential Tower, 800 Boylston Street, Boston, Massachusetts 02199-3600.
PLEASE EXECUTE AND RETURN THE ENCLOSED PROXY CARDS PROMPTLY TO ENSURE THAT A QUORUM IS PRESENT AT THE APPLICABLE ANNUAL MEETING. A SELF-ADDRESSED, POSTAGE-PAID ENVELOPE IS ENCLOSED FOR YOUR CONVENIENCE.
October 23, 201730, 2020
4251
Exhibit A to Proxy Statement
PIMCO SponsoredClosed-End Funds
Audit Oversight Committee Charter
(Adopted as of January 14, 2004,
as amended through February 24, 2017)January 1, 2020)
The Board of Trustees (each a “Board”) of each of the registered investment companies listed in Appendix A hereto (each, a “Fund” and, collectively, the “Funds”), as the same may be periodically updated, has adopted this Charter to govern the activities of the Audit Oversight Committee (the “Committee”) of the particular Board with respect to its oversight of the Fund. This Charter applies separately to each Fund and its particular Board and Committee, and shall be interpreted accordingly. This Charter supersedes and replaces any audit committee charter previously adopted by the Board or a committee of the Board.
Statement of Purpose and Functions
The Committee’s general purpose is to oversee the Fund’s accounting and financial reporting policies and practices and its internal controls, including by assisting with the Board’s oversight of the integrity of the Fund’s financial statements, the Fund’s compliance with legal and regulatory requirements relevant to financial reporting matters, the qualifications and independence of the Fund’s independent auditors, and the performance of the Fund’s internal control systems and independent auditors. The Committee’s purpose is also to prepare reports required by Securities and Exchange Commission rules to be included in the Fund’s annual proxy statements, if any.
The Committee’s function is oversight. While the Committee has the responsibilities set forth in this Charter, it is not the responsibility of the Committee to plan or conduct audits, to prepare or determine that the Fund’s financial statements are complete and accurate and are in accordance with generally accepted accounting principles, or to assure compliance with laws, regulations or any internal rules or policies of the Fund. Fund management is responsible for Fund accounting and the implementation and maintenance of the Fund’s internal control systems, and the independent auditors are responsible for conducting a proper audit of the Fund’s financial statements. Members of the Committee are not employees of the Funds and, in serving on this Committee, are not, and do not hold themselves out to be, acting as accountants or auditors. As such, it is not the duty or responsibility of the Committee or its members to conduct “field work” or other types of auditing or accounting reviews or procedures.
43A-1
Each member of the Committee shall be entitled to rely on (i) the integrity of those persons and organizations within management and outside the Fund from which the Committee receives information and (ii) the accuracy of financial and other information provided to the Committee by such persons or organizations absent actual knowledge to the contrary.
Membership
The Committee shall be comprised of as many trustees as the Board shall determine, but in any event not less than three (3) Trustees. Each member of the Committee must be a member of the Board. The Board may remove or replace any member of the Committee at any time in its sole discretion. One or more members of the Committee may be designated by the Board as the Committee’s chairman orco- chairman, as the case may be.
Each member of the Committee may not be an “interested person” of the Fund, as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), and must otherwise satisfy the standards for independence of an audit committee member of an investment company issuer as set forth in Rule 10A-3(b) (taking into account any exceptions to those requirements set forth in such rule) under the Securities Exchange Act of 1934, as amended, and under applicable listing standards of the New York Stock Exchange (the “NYSE”). Each member of the Committee must be “financially literate” (or must become so within a reasonable time after his or her appointment to the Committee) and at least one member of the Committee must have “accounting or related financial management expertise,” in each case as the Board interprets such qualification in its business judgment under NYSE listing standards.
Unless the Board otherwise determines, at least one member of the Committee shall be determined by the Board to be an “audit committee financial expert” (as defined for purposes of Form N-CSR).
One or more members of the Committee may be designated by the Board as the Committee’s chair or vice chair, as the case may be, and shall serve for such term or terms as the Board may determine. The Committee Chair shall: (1) schedule meetings to take place at such times and frequency as he or she deems appropriate; (2) provide input to management regarding its establishment of an agenda for each Committee meeting, with assistance from other Committee members as the Chair deems appropriate; (3) serve as chair of each Committee meeting; (4) serve as the primary Committee member who shall interface with management regarding Committee-related matters; and (5) perform such other duties as the Board or the Committee deems appropriate. The Chair can delegate to one or more other Committee members one or more of such duties as he or she deems appropriate.
A-2
Responsibilities and Duties
The Committee’s policies and procedures shall remain flexible to facilitate the Committee’s ability to react to changing conditions and to generally discharge its functions. The following describe areas of attention in broad terms. The Committee shall:
1. Determine the selection, retention or termination of the Fund’s independent auditors based on an evaluation of their independence and the nature and performance of the audit and any permittednon-audit services. Decisions by the Committee concerning the selection, retention or termination of the independent auditors shall be submitted to the Board for ratification in accordance with the requirements of Section 32(a) of the Investment Company Act. The Fund’s independent auditors must report directly to the Committee,
44
which shall be responsible for resolution of disagreements between management and the independent auditors relating to financial reporting.
2. To consider the independence of the Fund’s independent auditors at least annually, and in connection therewith receive on a periodic basis formal written disclosures and letters from the independent auditors as required by the applicable rules of the Public Company Accounting Oversight Board (the “PCAOB”).
3. To the extent required by applicable regulations,pre-approve (i) all audit and permittednon-audit services rendered by the independent auditors to the Fund and (ii) allnon-audit services rendered by the independent auditors to the Fund’s investment advisers (includingsub-advisers) and to certain of the investment advisers’ affiliates.
The Committee may implement policies and procedures by which such services are approved other than by the full Committee.
4. Review and approve the fees charged by the independent auditors to the Fund, the investment advisers and certain affiliates of the investment advisers for audit, audit- related and permittednon-audit services.
5. If and to the extent that the Fund intends to have employees, set clear policies for the hiring by the Fund of employees or former employees of the Fund’s independent auditors.
6. Obtain and review at least annually a report from the independent auditors describing (i) the accounting firm’s internal quality-control procedures and (ii) any material issues raised (a) by the accounting firm’s most recent internal quality-control review or peer review or (b) by any governmental or
A-3
other professional inquiry or investigation performed within the preceding five years respecting one or more independent audits carried out by the firm, and any steps taken to address any such issues.
7. Review with the Fund’s independent auditors arrangements for and the scope of the annual audit and any special audits, including the form of any opinion proposed to be rendered to the Board and shareholders of the Fund.
8. Meet with management and the independent auditors to review and discuss the Fund’s annual audited financial statements, including a review of any specific disclosures of management’s discussion of the Fund’s investment performance; and, with respect to the Fund’s audited financial statements, discuss with the independent auditors matters required by the applicable rules of
45
the PCAOB and any other matters required to be reported to the Committee under applicable law; and provide a statement whether, based on its review of the Fund’s audited financial statements, the Committee recommends to the Board that the audited financial statements be included in the Fund’s Annual Report.
Meet with management to review and discuss the Fund’s unaudited financial statements included in the semi-annual report, including, if any, a review of any specific disclosure of management’s discussion of the Fund’s investment performance.
9. Discuss with management and the independent auditors the Fund’s unaudited financial statements.
10. Review with the independent auditors any audit problems or difficulties encountered in the course of their audit work and management’s responses thereto.
11. Review with management and, as applicable, with the independent auditors the Fund’s accounting and financial reporting policies, practices and internal controls, management’s guidelines and policies with respect to risk assessment and risk management, including the effect on the Fund of any recommendation of changes in accounting principles or practices by management or the independent auditors.
12. Discuss with management any press releases discussing the Fund’s investment performance and other financial information about the Fund, as well as any financial information provided by management to analysts or rating agencies. The Committee may discharge this responsibility by discussing the general types of information to be disclosed by the Fund and the form of presentation (i.e., acase-by-case review is not required) and need not discuss in advance each such release of information.
A-4
13. Establish procedures for (i) the receipt, retention, and treatment of complaints received by the Fund regarding accounting, internal accounting controls, or auditing matters; and (ii) the confidential, anonymous submission by employees of the Fund, the Fund’s investment advisers, administrator, principal underwriter (if any) or any other provider of accounting-related services for the investment advisers of concerns regarding accounting or auditing matters.
14. Investigate or initiate the investigation of any fraud, improprieties or suspected improprieties in the Fund’s accounting operations or financial reporting.
46
15. Review with counsel legal and regulatory matters that have a material impact on the Fund’s financial and accounting reporting policies and practices or its internal controls.
16. Report to the Board on a regular basis (at least annually) on the Committee’s activities.
17. Perform such other functions consistent with this Charter, the Agreement and Declaration of Trust, Articles of Incorporation and/or Bylaws applicable to the Fund, and applicable law or regulation, as the Committee or the Board deems necessary or appropriate.
The Committee may delegate any portion of its authority and responsibilities as set forth in this Charter to a subcommittee of one or more members of the Committee.
Scope of Responsibility
This Charter shall not be read to impose on the Committee or any member thereof any responsibility to take any action or supervise any activity of the Fund not otherwise specifically imposed by this Charter or applicable law on the Committee (acting as a body) or any member of the Committee (acting individually). The Committee and members thereof shall be held to the same standard of care, as applicable, generally applied to the Board or a Trustee under applicable law, and service on the Committee shall not cause any member thereof to be held to a standard of care different from that applicable to his or her service on the Board generally. The designation of a Committee member as an audit committee financial expert does not impose on such person any duties or responsibilities that are greater than the duties and responsibilities imposed on such person as a member of the Committee and the Board. The designation of an audit committee financial expert also does not affect the duties or responsibilities of any other member of the Committee or the Board.
A-5
Meetings
At least annually, the Committee shall meet separately with the independent auditors and separately with the representatives of Fund management responsible for the financial and accounting operations of the Fund. The Committee shall hold other regular or special meetings as and when it deems necessary or appropriate.
Outside Resources and Assistance from Management
The appropriate officers of the Fund shall provide or arrange to provide such information, data and services as the Committee may request. The Committee shall have the authority to engage at the Fund’s expense independent counsel and other experts and consultants whose expertise the Committee considers necessary to carry out its responsibilities. The Fund shall provide for, or arrange for the provision of, appropriate funding, as determined by the Committee, for the payment of: (i) compensation of the Fund’s independent auditors for the issuance of an audit report relating to the Fund’s financial statements or the performance of other audit, review or attest services for the Fund; (ii) compensation of independent legal counsel or other advisers retained by the Committee; and (iii) ordinary administrative expenses of the Committee that are necessary or appropriate in fulfilling its purposes or carrying out its responsibilities under this Charter.
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Annual Evaluations
The Committee shall review and reassess the adequacy of this Charter at least annually and recommend any changes to the Board. In addition, the performance of the Committee shall be reviewed at least annually.
Adoption and Amendments
The Board shall adopt and approve this Charter and may amend the Charter at any time on the Board’s own motion.
48A-6
Appendix A
Funds Subject to this Charter
(As of September 5, 2014)January 1, 2020)
PCM Fund, Inc. (PCM)
PIMCO Municipal Income (PMF)
PIMCO Municipal Income II (PML)
PIMCO Municipal Income III (PMX)
PIMCO California Municipal Income (PCQ)
PIMCO California Municipal Income II (PCK)
PIMCO California Municipal Income III (PZC)
PIMCO New York Municipal Income (PNF)
PIMCO New York Municipal Income II (PNI)
PIMCO New York Municipal Income III (PYN)
PIMCO Corporate and Income Strategy (PCN)
PIMCO Corporate and Income Opportunity (PTY)
PIMCO High Income (PHK)
PIMCO Income Strategy (PFL)
PIMCO Income Strategy II (PFN)
PIMCO Income Opportunity (PKO)
PIMCO Global StocksPLUS & Income (PGP)
PIMCO Strategic Income Fund, Inc. (RCS)
PIMCO Dynamic Income (PDI)
PIMCO Dynamic Credit and Mortgage Income Fund (PCI)
PIMCO Energy and Tactical Credit Opportunities Fund (NRGX)
49A-7
Exhibit B to Proxy Statement
Governance and Nominating Committee Charter
PIMCO Managed Accounts Trust and
PIMCO Sponsored Closed-End Funds
PIMCO Sponsored Interval Funds
The Boards of Directors/Trustees (the “Boards”) of each Trust and respective series thereof (each Trust or series, a “Fund”) have adopted this Charter to govern the activities of the Governance and Nominating Committee (the “Committee”) of each Board.
Statement of Purpose and Responsibility
The primary purpose and responsibility of each Committee isare (i) advising and making recommendations to the Board on matters concerning Board governance and related Trustee practices, and (ii) the screening and nomination of candidates for election to the Board as independentIndependent Directors/Trustees.Trustees, as defined below.
Organization and Governance
1. Each Committee shall be comprised of as many Directors/Trustees as the Board shall determine, but in any event not fewer than two (2) Directors/Trustees. Each Committee must consist entirely of Board members who are not “interested persons” of the relevant Funds (“Independent Trustees”), as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended. Each Board may remove or replace any member of the Committee at any time in its sole discretion.
2. One or more members of a Committee may be designated by the Board as the Committee’s chairmanchair or co-chairman,vice chair, as the case may be.be, and shall serve for such term or terms as the Board may determine. The Committee Chair shall: (1) schedule meetings to take place at such times and frequency as he or she deems appropriate; (2) provide input to management regarding its establishment of an agenda for each Committee meeting, with assistance from other Committee members as the Chair deems appropriate; (3) serve as chair of each Committee meeting; (4) serve as the primary Committee member who shall interface with management regarding Committee-related matters; and (5) perform such other duties as the Board or the Committee deems appropriate. The Chair can delegate to one or more other Committee members one or more of such duties as he or she deems appropriate.
A
B-1
3. The Committee will not have at least one regularly scheduled meetings.meeting per year to consider the compensation of Independent Trustees and other matters the Committee deems appropriate. Additional Committee meetings shall be held as and when the Committee or the Board determines necessary or appropriate in accordance with theeach Fund’s Bylaws.
Duties and Responsibilities for Governance Matters
1. Overview of Responsibilities. The responsibilities of the Committee of each Fund include considering and making recommendations to the Board regarding: (1) governance, retirement and other policies, procedures and practices relating to the Board and the Trustees; (2) in consultation with the Chair of the Trustees, matters concerning the functions and duties of the Trustees and committees of the Board; (3) the size of the Board and, in consultation with the Chair of the Trustees, the Board’s committees and their composition; and (4) Board and committee meeting procedures, including the appropriateness and adequacy of the information supplied to the Trustees in connection with such meetings.
2. Trustee Compensation. The Committee will periodically review and recommend for approval by the Board the structure and levels of compensation and any related benefits to be paid or provided by each Fund to the Independent Trustees for their services on the Board and any committees of the Board.
3. Board Governance Policies. The Committee shall review the Board Governance Policies designed to enhance the independence and effectiveness of the Independent Trustees in serving the interests of the Funds and their shareholders. The Committee shall review these Policies no less than every two years and shall recommend any changes to the Board for its approval.
4. The Committee shall discharge any other duties or responsibilities delegated to the Committee by the Board from time to time.
Trustee Nominations
1. Qualifications for Director/Director/Trustee Nominees
Nominees.A Director/Trustee candidate must have a college degree or equivalent business experience. The Committee may take into account a wide variety of factors in considering Director/Trustee candidates, including (but not limited to): (i) availability and commitment of a candidate to attend meetings and perform his or her responsibilities on the Board, (ii) relevant industry and related experience, (iii) educational background, (iv) ability, judgment and expertise and (v) overall diversity of the Board’s composition. The Committee shall consider the effect of
50B-2
any relationships delineated in the 1940 Act or other types of relationships, (e.g., business, financial or family relationships) with the investment adviser(s) or other principal service providers, which might impair independence.
2. Identification of Nominees
. In identifying potential nominees for a Board, the Committee may consider candidates recommended by the following sources: (i) the Fund’s current Directors/Trustees; (ii) the Fund’s officers; (iii) the Fund’s investment adviser orsub- advisers; (iv) shareholders of the Fund (see below); and (v) any other source the Committee deems to be appropriate. The Committee may, but is not required to, retain a third party search firm at the Fund’s expense to identify potential candidates. With respect to annual nominations for the Closed-End Funds, absent circumstances warranting different action, the Board expects that such nominations will be made in a manner designed to maintain common Board membership with the other Funds.
3. Consideration of Candidates Recommended By Shareholders
A. The Committee will consider and evaluate nominee candidates properly submitted by shareholders on the same basis as it considers and evaluates candidates recommended by other sources.Appendix A (for PIMCO Managed Accounts Trust and PIMCO Sponsored Interval Funds) andAppendix B (for the PIMCO Sponsored Closed-End Funds) to this Charter, as they may be amended from time to time by a Committee, set forth procedures that must be followed by shareholders to submit properly a nominee candidate to the Committee (recommendations not properly submitted in accordance withAppendix A orAppendix B (as applicable) will not be considered by the Committee).
4. Recommendation of Candidates to the Board
A. The Committee will recommend to the Board the Directors/Trustees candidates that it deems qualified to serve as independent directors/trusteesIndependent Trustees on the Board. To the extent practicable, the Committee will rank such potential nominees for the Board in order of preference. The Committee may also consider and recommend to the Board Trustee candidates who would not qualify as Independent Trustees.
Operating Guidelines
1. The appropriate officers of the Fund shall provide or arrange to provide such information, data and services as the Committee may request. The Committee shall have the resources and authority necessary or appropriate for purposes of discharging its responsibilities under this Charter, including the authority to engage such legal counsel and other experts and consultants at the Fund’s expense as the Committee, in its discretion, deems necessary or appropriate to carry out its responsibilities.
51B-3
2. Absent actual knowledge to the contrary, each Committee member is entitled to rely upon (1) the integrity and competence of those persons and organizations that render services to the Trust and from whom the Committee receives information or reports and (2) the accuracy and completeness (both at the time of presentation and on a continuing basis, as appropriate) of the information and reports provided to the Committee by such persons or organizations. Nothing in this Charter is intended to impose, or should be interpreted as imposing, on any member of the Committee any additional duties or responsibilities over and above those placed on the member in his or her capacity as a Trustee of a Fund, under federal and state law.
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Appendix A
Procedures for Shareholders to Submit Nominee Candidates for PIMCO Managed Accounts Trust and PIMCO Sponsored Interval Funds
A shareholder of a Fund must follow the following procedures in order to submit properly a nominee recommendation for the Committee’s consideration.
1. | The shareholder must submit any such recommendation (a “Shareholder Recommendation”) in writing to a Fund, to the attention of the Secretary, at the address of the principal executive offices of the Fund. Once each quarter, if any Shareholder Recommendations have been received by the Secretary during the quarter, the Secretary will inform the Committee of the new Shareholder Recommendations. Because the Fund does not hold annual or other regular meetings of shareholders for the purpose of electing Trustees, the Committee will accept Shareholder Recommendations on a continuous basis. |
2. | All Shareholder Recommendations properly submitted to a Fund will be held by the Secretary until such time as (i) the Committee convenes to consider candidates to fill Board vacancies or newly created Board positions (a “Trustee Consideration Meeting”) or (ii) the Committee instructs the Secretary to discard a Shareholder Recommendation following a Trustee Consideration Meeting or an Interim Evaluation (as defined below). |
3. | At a Trustee Consideration Meeting, the Committee will consider each Shareholder Recommendation then held by the Secretary. Following a Trustee Consideration Meeting, the Committee may instruct the Secretary to discard any or all of the Shareholder Recommendations currently held by the Secretary. |
4. | A Committee may, in its discretion and at any time, convene to conduct an evaluation of validly submitted Shareholder Recommendations (each such meeting, an “Interim Evaluation”) for the purpose of determining which Shareholder Recommendations will be considered at the next Trustee Consideration Meeting. Following an Interim Evaluation, the Committee may instruct the Secretary to discard any or all of the Shareholder Recommendations currently held by the Secretary. |
5. | The Shareholder Recommendation must include: (i) a statement in writing setting forth (A) the name, date of birth, business address, residence address and nationality of the person recommended by the shareholder (the “candidate”); (B) the number of shares of (and class, if any) of the Fund(s) owned of record or beneficially by the candidate, as reported to such shareholder by the candidate; (C) any other information regarding the |
B-5
candidate called for with respect to director nominees by paragraphs (a), (d), |
52
(e) and (f) of Item 401 of Regulation S-K or paragraph (b) of Item 22 of Rule 14a-101 (Schedule 14A) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), adopted by the Securities and Exchange Commission (or the corresponding provisions of any regulation or rule subsequently adopted by the Securities and Exchange Commission or any successor agency applicable to the Trust); (D) any other information regarding the candidate that would be required to be disclosed if the candidate were a nominee in a proxy statement or other filing required to be made in connection with the election of Trustees or directors pursuant to Section 14 of the Exchange Act and the rules and regulations promulgated thereunder; and (E) whether the recommending shareholder believes that the candidate is or will be an “interested person” of the Fund (as defined in the Investment Company Act of 1940, as amended) and, if not an “interested person,” information regarding the candidate that will be sufficient for the Fund to make such determination; (ii) the written and signed consent of the candidate to be named as a nominee and to serve as a Trustee if elected; (iii) the recommending shareholder’s name as it appears on the Fund’s books; (iv) the number of shares of (and class, if any) of the Fund(s) owned beneficially and of record by the recommending shareholder; and (v) a description of all arrangements or understandings between the recommending shareholder and the candidate and any other person or persons (including their names) pursuant to which the recommendation is being made by the recommending shareholder. In addition, the Committee may require the candidate to furnish such other information as it may reasonably require or deem necessary to determine the eligibility of such candidate to serve on the Board or to satisfy applicable law. |
53B-6
Appendix B
Procedures for Shareholders to Submit Nominee Candidates for
the PIMCO Sponsored Closed-End Funds
A Fund shareholder must follow the following procedures in order to properly submit a nominee recommendation for the Committee’s consideration.
1. | The shareholder/stockholder must submit any such recommendation (a “Shareholder Recommendation”) in writing to a Fund, to the attention of the Secretary, at the address of the principal executive offices of the Fund. |
2. | The Shareholder Recommendation must be delivered to or mailed and received at the principal executive offices of a Fund not less than forty-five (45) calendar days nor more than seventy-five (75) calendar days prior to the date of the Board or shareholder meeting at which the nominee would be elected. |
3. | The Shareholder Recommendation must include: (i) a statement in writing setting forth (A) the name, age, date of birth, business address, residence address and nationality of the person recommended by the shareholder (the “candidate”); (B) the class and number of all shares of the Fund owned of record or beneficially by the candidate, as reported to such shareholder by the candidate; (C) any other information regarding the candidate called for with respect to director nominees by paragraphs (a), (d), (e) and (f) of Item 401 of Regulation S-K or paragraph (b) of Item 22 of Rule 14a-101 (Schedule 14A) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), adopted by the Securities and Exchange Commission (or the corresponding provisions of any regulation or rule subsequently adopted by the Securities and Exchange Commission or any successor agency applicable to the Fund); (D) any other information regarding the candidate that would be required to be disclosed if the candidate were a nominee in a proxy statement or other filing required to be made in connection with solicitation of proxies for election of Directors/Trustees or directors pursuant to Section 14 of the Exchange Act and the rules and regulations promulgated thereunder; and (E) whether the recommending shareholder believes that the candidate is or will be an “interested person” of the Fund (as defined in the Investment Company Act of 1940, as amended) and, if not an “interested person,” information regarding the candidate that will be sufficient for the Fund to make such determination; (ii) the written and signed consent of the candidate to be named as a nominee and to serve as a Director/Trustee if elected; (iii) the recommending shareholder’s name as it appears on the Fund’s books; (iv) the class and number of all shares of the Fund owned beneficially and |
54B-7
of record by the recommending shareholder; and (v) a description of all arrangements or understandings between the recommending shareholder and the candidate and any other person or persons (including their names) pursuant to which the recommendation is being made by the recommending shareholder. In addition, the Committee may require the candidate to furnish such other information as it may reasonably require or deem necessary to determine the eligibility of such candidate to serve on the Board. |
55B-8
Exhibit C to Proxy Statement
Report of Audit Oversight Committees
of the Boards of Trustees of
PIMCO California Municipal Income Fund (PCQ)
PIMCO Municipal Income Fund (PMF)
PIMCO New York Municipal Income Fund (PNF)
PIMCO California Municipal Income Fund II (PCK)
PIMCO Municipal Income Fund II (PML)
PIMCO New York Municipal Income Fund II (PNI)
PIMCO California Municipal Income Fund III (PZC)
PIMCO Municipal Income Fund III (PMX)
PIMCO New York Municipal Income Fund III (PYN)
(each, a “Fund” and, collectively, the “Funds”)
Dated February 24, 20172020
The Audit Oversight Committees (the(collectively, the “Committee”) oversee the Funds’ financial reporting process on behalf of the Board of Trustees of each Fund (the(collectively, the “Board”) and operate under a written Charter adopted by the Board. The Committee meets with each Fund’s management (“Management”) and independent registered public accounting firm and reports the results of its activities to the Board. Management has the primary responsibility for the financial statements and the reporting process, including the system of internal controls. In connection with the Committee’s and independent accountant’s responsibilities, Management has advised that the Funds’ financial statements for the fiscal year ended December 31, 20162019 were prepared in conformity with the generally accepted accounting principles.
The Committee has reviewed and discussed with Management and PricewaterhouseCoopers LLP (“PwC”), the Funds’ independent registered public accounting firm, the audited financial statements for the fiscal year ended December 31, 2016.2019. The Committee has discussed with PwC the matters required to be discussed by Statements on Auditing Standard No. 61 (SAS 61). SAS 61 requires the independent registered public accounting firm to communicate to the Committee matters including, if applicable: 1) methods used to account for significant unusual transactions; 2) the effect of significant accounting policies in controversial or emerging areas for which there is a lack of authoritative guidance or consensus; 3) the process used by management in formulating particularly sensitive accounting estimates and the basis for the auditor’s conclusions regarding the reasonableness of those estimates; and 4) disagreements with Management over the application of accounting principles and certain other matters.
56C-1
With respect to each Fund, the Committee has received the written disclosure and the letter from PwC required by Rule 3526 of the Public Company Accounting Oversight Board (requiring registered public accounting firms to make written disclosure to and discuss with the Committee various matters relating to the auditor’s independence), and has discussed with PwC their independence. The Committee has also reviewed the aggregate fees billed by PwC for professional services rendered to each Fund and, to the extent applicable with respect to each Fund’s reporting period, fornon-audit services provided to Pacific Investment Management Company LLC (“PIMCO”), the Funds’ investment manager, and any entity controlling, controlled by or under common control with PIMCO that provided services to each Fund during its reporting period. As part of this review, the Committee considered, in addition to other practices and requirements relating to selection of the Funds’ independent registered public accounting firm, whether the provision of suchnon-audit services was compatible with maintaining the independence of PwC.
Based on the foregoing review and discussions, the Committee presents this Report to the Board and recommends that (1) the audited financial statements for the fiscal year ended December 31, 20162019 be included in the Funds’ Annual Report to shareholders for such fiscal year, (2) such Annual Report be filed with the Securities and Exchange Commission and the New York Stock Exchange, and (3) PwC be reappointed as the Funds’ independent registered public accounting firm for the fiscal year ending December 31, 2017.2020.
Submitted by the Audit Oversight Committee of the Board of Trustees:
T. Matthew Buffington
Sarah E. Cogan
Deborah A. DeCotis,
Bradford K. Gallagher,
James A. Jacobson,
Hans W. Kertess,
William B. Ogden, IV and
Alan Rappaport
57C-2
CEF_PROXY_101717
CEF_PROXY_121820
YOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN.THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! |
PIMCO CALIFORNIA MUNICIPAL INCOME FUND II – COMMON SHARES
|
PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 201718, 2020
The undersigned holder of common shares of PIMCO California Municipal Income Fund II, a Massachusetts business trust (the “Fund”), hereby appoints WilliamRyan G. Galipeau, Joshua D. RatnerLeshaw, Colleen Dean Miller and Peter G. Strelow,Wu-Kwan Kit, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019,650 Newport Center Drive, Newport Beach, California 92660, on December 19, 201718, 2020 beginning at 10:308:00 A.M. EasternPacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017.30, 2020. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017.18, 2020. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 20162019 for PIMCO California Municipal Income Fund II are also available at pimco.com/closedendfundshttps://vote.proxyonline.com/PIMCOFunds/docs/PIMCO_CEF_PROXY.pdf.
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
PIMCO CALIFORNIA MUNICIPAL INCOME FUND II – COMMON SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
SIGNATURE (AND TITLE IF APPLICABLE) | DATE | |
SIGNATURE (IF HELD JOINTLY) | DATE |
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑
FOR | WITHHOLD | |||||||
PROPOSAL | ||||||||
A. Election of Trustees — The Board of Trustees urges you to voteFOR the election of the Nominees. |
| |||||||
| ||||||||
1. (01) | O | O | ||||||
(02) William B. Ogden, IV | O | O | ||||||
(03) | ||||||||
| O | O | ||||||
2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). |
| |||||||
B. Non-Voting Items |
|
Change of Address — Please print new address below. | Comments — Please print your comments below. | |||||||
|
You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
YOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN.THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! |
PIMCO CALIFORNIA MUNICIPAL INCOME FUND –
|
PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 201718, 2020
The undersigned holder of preferredcommon shares of PIMCO California Municipal Income Fund, a Massachusetts business trust (the “Fund”), hereby appoints WilliamRyan G. Galipeau, Joshua D. RatnerLeshaw, Colleen Dean Miller and Peter G. Strelow,Wu-Kwan Kit, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019,650 Newport Center Drive, Newport Beach, California 92660, on December 19, 201718, 2020 beginning at 10:308:00 A.M. EasternPacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017.30, 2020. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017.18, 2020. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 20162019 for PIMCO California Municipal Income Fund are also available at pimco.com/closedendfundshttps://vote.proxyonline.com/PIMCOFunds/docs/PIMCO_CEF_PROXY.pdf.
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
PIMCO CALIFORNIA MUNICIPAL INCOME FUND – PREFERREDCOMMON SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
SIGNATURE (AND TITLE IF APPLICABLE) | DATE | |
SIGNATURE (IF HELD JOINTLY) | DATE |
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑
FOR | WITHHOLD | |||||||
PROPOSAL | ||||||||
A. Election of Trustees — The Board of Trustees urges you to voteFOR the election of the Nominees. |
| |||||||
| ||||||||
1. (01) | O | O | ||||||
(02) William B. Ogden, IV | O | O | ||||||
(03) | ||||||||
| O | O | ||||||
2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). |
| |||||||
B. Non-Voting Items |
|
Change of Address — Please print new address below. | Comments — Please print your comments below. | |||||||
|
You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
YOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN.THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! |
PIMCO
|
PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 201718, 2020
The undersigned holder of common shares of PIMCO California Municipal Income Fund, a Massachusetts business trust (the “Fund”), hereby appoints WilliamRyan G. Galipeau, Joshua D. RatnerLeshaw, Colleen Dean Miller and Peter G. Strelow,Wu-Kwan Kit, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019,650 Newport Center Drive, Newport Beach, California 92660, on December 19, 201718, 2020 beginning at 10:308:00 A.M. EasternPacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017.30, 2020. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017.18, 2020. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 20162019 for PIMCO California Municipal Income Fund are also available at pimco.com/closedendfundshttps://vote.proxyonline.com/PIMCOFunds/docs/PIMCO_CEF_PROXY.pdf.
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
PIMCO CALIFORNIA MUNICIPAL INCOME FUND – COMMON SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
SIGNATURE (AND TITLE IF APPLICABLE) | DATE | |
SIGNATURE (IF HELD JOINTLY) | DATE |
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑
FOR | WITHHOLD | |||||||
PROPOSAL | ||||||||
A. Election of Trustees — The Board of Trustees urges you to voteFOR the election of the Nominees. |
| |||||||
| ||||||||
1. (01) | O | O | ||||||
(02) William B. Ogden, IV | O | O | ||||||
(03) | ||||||||
| O | O | ||||||
2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). |
| |||||||
B. Non-Voting Items |
|
Change of Address — Please print new address below. | Comments — Please print your comments below. | |||||||
|
You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
YOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN.THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! |
PIMCO
|
PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 201718, 2020
The undersigned holder of preferredcommon shares of PIMCO California Municipal Income Fund II, a Massachusetts business trust (the “Fund”), hereby appoints WilliamRyan G. Galipeau, Joshua D. RatnerLeshaw, Colleen Dean Miller and Peter G. Strelow,Wu-Kwan Kit, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019,650 Newport Center Drive, Newport Beach, California 92660, on December 19, 201718, 2020 beginning at 10:308:00 A.M. EasternPacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017.30, 2020. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017.18, 2020. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 20162019 for PIMCO California Municipal Income Fund II are also available at pimcohttps://vote.proxyonline.com/PIMCOFunds/docs/PIMCO_CEF_PROXY.pdf..com/closedendfunds.
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
PIMCO CALIFORNIA MUNICIPAL INCOME FUND II – PREFERREDCOMMON SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
SIGNATURE (AND TITLE IF APPLICABLE) | DATE | |
SIGNATURE (IF HELD JOINTLY) | DATE |
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑
FOR | WITHHOLD | |||||||
PROPOSAL | ||||||||
A. Election of Trustees — The Board of Trustees urges you to voteFOR the election of the Nominees. |
| |||||||
| ||||||||
1. (01) | O | O | ||||||
(02) William B. Ogden, IV | O | O | ||||||
(03) | O | O | ||||||
| ||||||||
2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). |
| |||||||
B. Non-Voting Items |
|
Change of Address — Please print new address below. | Comments — Please print your comments below. | |||||||
|
You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
YOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN.THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! |
PIMCO NEW YORK MUNICIPAL INCOME FUND – COMMON SHARES
|
PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 201718, 2020
The undersigned holder of common shares of PIMCO New York Municipal Income Fund, a Massachusetts business trust (the “Fund”), hereby appoints WilliamRyan G. Galipeau, Joshua D. RatnerLeshaw, Colleen Dean Miller and Peter G. Strelow,Wu-Kwan Kit, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019,650 Newport Center Drive, Newport Beach, California 92660, on December 19, 201718, 2020 beginning at 10:308:00 A.M. EasternPacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017.30, 2020. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017.18, 2020. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 20162019 for PIMCO New York Municipal Income Fund are also available at pimcohttps://vote.proxyonline.com/PIMCOFunds/docs/PIMCO_CEF_PROXY.pdf..com/closedendfunds.
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
PIMCO NEW YORK MUNICIPAL INCOME FUND – COMMON SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
SIGNATURE (AND TITLE IF APPLICABLE) | DATE | |
SIGNATURE (IF HELD JOINTLY) | DATE |
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑
FOR | WITHHOLD | |||||||
PROPOSAL | ||||||||
A. Election of Trustees — The Board of Trustees urges you to voteFOR the election of the Nominees. |
| |||||||
| ||||||||
1. (01) | O | O | ||||||
(02) William B. Ogden, IV | O | O | ||||||
(03) | O | O | ||||||
| ||||||||
2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). |
| |||||||
B. Non-Voting Items |
|
Change of Address — Please print new address below. | Comments — Please print your comments below. | |||||||
|
You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
YOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN.THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! |
PIMCO NEW YORK MUNICIPAL INCOME FUND II –
|
PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 201718, 2020
The undersigned holder of preferredcommon shares of PIMCO New York Municipal Income Fund II, a Massachusetts business trust (the “Fund”), hereby appoints WilliamRyan G. Galipeau, Joshua D. RatnerLeshaw, Colleen Dean Miller and Peter G. Strelow,Wu-Kwan Kit, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019,650 Newport Center Drive, Newport Beach, California 92660, on December 19, 201718, 2020 beginning at 10:308:00 A.M. EasternPacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017.30, 2020. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017.18, 2020. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 20162019 for PIMCO New York Municipal Income Fund II are also available at pimcohttps://vote.proxyonline.com/PIMCOFunds/docs/PIMCO_CEF_PROXY.pdf.com/closedendfunds.
[PROXY ID NUMBER HERE]
| [BAR CODE HERE] | [CUSIP HERE] |
PIMCO NEW YORK MUNICIPAL INCOME FUND II – PREFERREDCOMMON SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
SIGNATURE (AND TITLE IF APPLICABLE) | DATE | |
SIGNATURE (IF HELD JOINTLY) | DATE |
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑
FOR | WITHHOLD | |||||||
PROPOSAL | ||||||||
A. Election of Trustees — The Board of Trustees urges you to voteFOR the election of the Nominees. |
| |||||||
| ||||||||
1. (01) | O | O | ||||||
(02) William B. Ogden, IV | O | O | ||||||
(03) | O | O | ||||||
| ||||||||
2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). |
| |||||||
B. Non-Voting Items |
|
Change of Address — Please print new address below. | Comments — Please print your comments below. | |||||||
|
You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
[PROXY ID NUMBER HERE]
| [BAR CODE HERE] | [CUSIP HERE] |
YOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN.THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! |
PIMCO MUNICIPAL INCOME FUND
|
PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 201718, 2020
The undersigned holder of common shares of PIMCO Municipal Income Fund II,III, a Massachusetts business trust (the “Fund”), hereby appoints WilliamRyan G. Galipeau, Joshua D. RatnerLeshaw, Colleen Dean Miller and Peter G. Strelow,Wu-Kwan Kit, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019,650 Newport Center Drive, Newport Beach, California 92660, on December 19, 201718, 2020 beginning at 10:308:00 A.M. EasternPacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017.30, 2020. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017. 18, 2020. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 20162019 for PIMCO Municipal Income Fund IIIII are also available at pimcohttps://vote.proxyonline.com/PIMCOFunds/docs/PIMCO_CEF_PROXY.pdf.com/closedendfunds.
[PROXY ID NUMBER HERE]
| [BAR CODE HERE] | [CUSIP HERE] |
PIMCO MUNICIPAL INCOME FUND III – COMMON SHARES |
|
PIMCO MUNICIPAL INCOME FUND II – COMMON SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
SIGNATURE (AND TITLE IF APPLICABLE) | DATE | |
SIGNATURE (IF HELD JOINTLY) | DATE |
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑
FOR | WITHHOLD | |||||||
PROPOSAL | ||||||||
A. Election of Trustees — The Board of Trustees urges you to voteFOR the election of the Nominees. |
| |||||||
| ||||||||
1. (01) | O | O | ||||||
(02) Deborah A. DeCotis | O | O | ||||||
| O | O | ||||||
| O | O | ||||||
| ||||||||
2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). |
| |||||||
B. Non-Voting Items |
|
Change of Address — Please print new address below. | Comments — Please print your comments below. | |||||||
|
You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
[PROXY ID NUMBER HERE]
| [BAR CODE HERE] | [CUSIP HERE] |
YOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN.THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! |
PIMCO CALIFORNIA MUNICIPAL INCOME FUND
|
PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 201718, 2020
The undersigned holder of preferredcommon shares of PIMCO California Municipal Income Fund II,III, a Massachusetts business trust (the “Fund”), hereby appoints WilliamRyan G. Galipeau, Joshua D. RatnerLeshaw, Colleen Dean Miller and Peter G. Strelow,Wu-Kwan Kit, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019,650 Newport Center Drive, Newport Beach, California 92660, on December 19, 201718, 2020 beginning at 10:308:00 A.M. EasternPacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017.30, 2020. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017.18, 2020. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 20162019 for PIMCO California Municipal Income Fund IIIII are also available at pimco.com/closedendfundshttps://vote.proxyonline.com/PIMCOFunds/docs/PIMCO_CEF_PROXY.pdf.
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
PIMCO CALIFORNIA MUNICIPAL INCOME FUND IIIII – PREFERREDCOMMON SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
SIGNATURE (AND TITLE IF APPLICABLE) | DATE | |
SIGNATURE (IF HELD JOINTLY) | DATE |
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑
FOR | WITHHOLD | |||||||
PROPOSAL | ||||||||
A. Election of Trustees — The Board of Trustees urges you to voteFOR the election of the Nominees. |
| |||||||
| ||||||||
1. (01) | O | O | ||||||
(02) | O | O | ||||||
(03) | O | O | ||||||
(04) | O | O | ||||||
2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). |
| |||||||
B. Non-Voting Items |
|
Change of Address — Please print new address below. | Comments — Please print your comments below. | |||||||
|
You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
YOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN.THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! |
PIMCO CALIFORNIA MUNICIPAL INCOME FUND II –
|
PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 201718, 2020
The undersigned holder of commonpreferred shares of PIMCO California Municipal Income Fund II, a Massachusetts business trust (the “Fund”), hereby appoints WilliamRyan G. Galipeau, Joshua D. RatnerLeshaw, Colleen Dean Miller and Peter G. Strelow,Wu-Kwan Kit, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019,650 Newport Center Drive, Newport Beach, California 92660, on December 19, 201718, 2020 beginning at 10:308:00 A.M. EasternPacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017.30, 2020. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017.18, 2020. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 20162019 for PIMCO California Municipal Income Fund II are also available at pimcohttps://vote.proxyonline.com/PIMCOFunds/docs/PIMCO_CEF_PROXY.pdf..com/closedendfunds.
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
PIMCO CALIFORNIA MUNICIPAL INCOME FUND II – COMMONPREFERRED SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
SIGNATURE (AND TITLE IF APPLICABLE) | DATE | |
SIGNATURE (IF HELD JOINTLY) | DATE |
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑●
FOR | WITHHOLD | |||||||
PROPOSAL | ||||||||
A. Election of Trustees — The Board of Trustees urges you to voteFOR the election of the Nominees. |
| |||||||
| ||||||||
1. (01) | O | O | ||||||
(02) William B. Ogden, IV | O | O | ||||||
(03) | O | O | ||||||
| ||||||||
2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). |
| |||||||
B. Non-Voting Items |
|
Change of Address — Please print new address below. | Comments — Please print your comments below. | |||||||
|
You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
YOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN.THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! |
PIMCO CALIFORNIA MUNICIPAL INCOME FUND
|
PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 201718, 2020
The undersigned holder of preferred shares of PIMCO California Municipal Income Fund, II, a Massachusetts business trust (the “Fund”), hereby appoints WilliamRyan G. Galipeau, Joshua D. RatnerLeshaw, Colleen Dean Miller and Peter G. Strelow,Wu-Kwan Kit, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019,650 Newport Center Drive, Newport Beach, California 92660, on December 19, 201718, 2020 beginning at 10:308:00 A.M. EasternPacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017.30, 2020. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017.18, 2020. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 20162019 for PIMCO California Municipal Income Fund II are also available at pimco.com/closedendfundshttps://vote.proxyonline.com/PIMCOFunds/docs/PIMCO_CEF_PROXY.pdf.
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
PIMCO CALIFORNIA MUNICIPAL INCOME FUND II – PREFERRED SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
SIGNATURE (AND TITLE IF APPLICABLE) | DATE | |
SIGNATURE (IF HELD JOINTLY) | DATE |
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑●
FOR | WITHHOLD | |||||||
PROPOSAL | ||||||||
A. Election of Trustees — The Board of Trustees urges you to voteFOR the election of the Nominees. |
| |||||||
| ||||||||
1. (01) | O | O | ||||||
(02) William B. Ogden, IV | O | O | ||||||
(03) | ||||||||
| O | O | ||||||
2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). |
| |||||||
B. Non-Voting Items |
|
Change of Address — Please print new address below. | Comments — Please print your comments below. | |||||||
|
You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
YOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN. THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER.PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! |
PIMCO
|
PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 201718, 2020
The undersigned holder of commonpreferred shares of PIMCO New York Municipal Income Fund, II, a Massachusetts business trust (the “Fund”), hereby appoints WilliamRyan G. Galipeau, Joshua D. RatnerLeshaw, Colleen Dean Miller and Peter G. Strelow,Wu-Kwan Kit, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019,650 Newport Center Drive, Newport Beach, California 92660, on December 19, 201718, 2020 beginning at 10:308:00 A.M. EasternPacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017.30, 2020. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017.18, 2020. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 20162019 for PIMCO New York Municipal Income Fund II are also available at pimco.com/closedendfundshttps://vote.proxyonline.com/PIMCOFunds/docs/PIMCO_CEF_PROXY.pdf.
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
PIMCO NEW YORK MUNICIPAL INCOME FUND II – COMMONPREFERRED SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
SIGNATURE (AND TITLE IF APPLICABLE) | DATE | |
SIGNATURE (IF HELD JOINTLY) | DATE |
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑
FOR | WITHHOLD | |||||||
PROPOSAL | ||||||||
A. Election of Trustees — The Board of Trustees urges you to voteFOR the election of the Nominees. |
| |||||||
| ||||||||
1. (01) | O | O | ||||||
(02) William B. Ogden, IV | O | O | ||||||
(03) | O | O | ||||||
| ||||||||
2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). |
| |||||||
B. Non-Voting Items |
|
Change of Address — Please print new address below. | Comments — Please print your comments below. | |||||||
|
You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
YOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN.THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! |
PIMCO
|
PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 201718, 2020
The undersigned holder of preferred shares of PIMCO New York Municipal Income Fund II, a Massachusetts business trust (the “Fund”), hereby appoints WilliamRyan G. Galipeau, Joshua D. RatnerLeshaw, Colleen Dean Miller and Peter G. Strelow,Wu-Kwan Kit, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019,650 Newport Center Drive, Newport Beach, California 92660, on December 19, 201718, 2020 beginning at 10:308:00 A.M. EasternPacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017.30, 2020. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017.18, 2020. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 20162019 for PIMCO New York Municipal Income Fund II are also available at pimco.com/closedendfundshttps://vote.proxyonline.com/PIMCOFunds/docs/PIMCO_CEF_PROXY.pdf.
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
PIMCO NEW YORK MUNICIPAL INCOME FUND II – PREFERRED SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
SIGNATURE (AND TITLE IF APPLICABLE) | DATE | |
SIGNATURE (IF HELD JOINTLY) | DATE |
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑
FOR | WITHHOLD | |||||||
PROPOSAL | ||||||||
A. Election of Trustees — The Board of Trustees urges you to voteFOR the election of the Nominees. |
| |||||||
| ||||||||
1. (01) | O | O | ||||||
(02) William B. Ogden, IV | O | O | ||||||
(03) | O | O | ||||||
| ||||||||
2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). |
| |||||||
B. Non-Voting Items |
|
Change of Address — Please print new address below. | Comments — Please print your comments below. | |||||||
|
You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
[PROXY ID NUMBER HERE]
|
[BAR CODE HERE] |
[CUSIP HERE] |
YOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN. THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! |
PIMCO NEW YORK MUNICIPAL INCOME FUND
|
PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 201718, 2020
The undersigned holder of commonpreferred shares of PIMCO New York Municipal Income Fund, III, a Massachusetts business trust (the “Fund”), hereby appoints WilliamRyan G. Galipeau, Joshua D. RatnerLeshaw, Colleen Dean Miller and Peter G. Strelow,Wu-Kwan Kit, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019,650 Newport Center Drive, Newport Beach, California 92660, on December 19, 201718, 2020 beginning at 10:308:00 A.M. EasternPacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017.30, 2020. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017. 18, 2020. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 20162019 for PIMCO New York Municipal Income Fund III are also available at pimco.com/closedendfundshttps://vote.proxyonline.com/PIMCOFunds/docs/PIMCO_CEF_PROXY.pdf.
[PROXY ID NUMBER HERE]
| [BAR CODE HERE] | [CUSIP HERE] |
PIMCO NEW YORK MUNICIPAL INCOME FUND – PREFERRED SHARES |
|
PIMCO MUNICIPAL INCOME FUND III – COMMON SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
SIGNATURE (AND TITLE IF APPLICABLE) | DATE | |
SIGNATURE (IF HELD JOINTLY) | DATE |
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑
FOR | WITHHOLD | |||||||
PROPOSAL | ||||||||
A. Election of Trustees — The Board of Trustees urges you to voteFOR the election of the Nominees. |
| |||||||
| ||||||||
1. (01) | O | O | ||||||
(02) William B. Ogden, IV | O | O | ||||||
(03) | O | O | ||||||
| ||||||||
2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). |
| |||||||
B. Non-Voting Items |
|
Change of Address — Please print new address below. | Comments — Please print your comments below. | |||||||
|
You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
[PROXY ID NUMBER HERE]
| [BAR CODE HERE] | [CUSIP HERE] |
YOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN.THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! |
| PIMCO NEW YORK MUNICIPAL INCOME FUND
|
PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 201718, 2020
The undersigned holder of preferred shares of PIMCO New York Municipal Income Fund III,II, a Massachusetts business trust (the “Fund”), hereby appoints WilliamRyan G. Galipeau, Joshua D. RatnerLeshaw, Colleen Dean Miller and Peter G. Strelow,Wu-Kwan Kit, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019,650 Newport Center Drive, Newport Beach, California 92660, on December 19, 201718, 2020 beginning at 10:308:00 A.M. EasternPacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017.30, 2020. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 18, 2020. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 2019 for PIMCO New York Municipal Income Fund II are also available at https://vote.proxyonline.com/PIMCOFunds/docs/PIMCO_CEF_PROXY.pdf.
[PROXY ID NUMBER HERE] | [BAR CODE HERE] | [CUSIP HERE] |
PIMCO NEW YORK MUNICIPAL INCOME FUND II – PREFERRED SHARES | ||||
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED. | ||||
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title. | SIGNATURE (AND TITLE IF APPLICABLE) DATE | |||
SIGNATURE (IF HELD JOINTLY) DATE |
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example: 🌑
FOR | WITHHOLD | |||||||
PROPOSAL | ||||||||
A. Election of Trustees — The Board of Trustees urges you to vote FOR the election of the Nominees. | ||||||||
1. (01) Joseph B. Kittredge, Jr. | O | O | ||||||
(02) William B. Ogden, IV | O | O | ||||||
(03) David N. Fisher | O | O | ||||||
2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). | ||||||||
B. Non-Voting Items |
Change of Address — Please print new address below. | Comments — Please print your comments below. | |||||||
You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
[PROXY ID NUMBER HERE] | [BAR CODE HERE] | [CUSIP HERE] |
YOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN.THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! | PIMCO MUNICIPAL INCOME FUND III – PREFERRED SHARES |
PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 18, 2020
The undersigned holder of preferred shares of PIMCO Municipal Income Fund III, a Massachusetts business trust (the “Fund”), hereby appoints Ryan G. Leshaw, Colleen Dean Miller and Wu-Kwan Kit, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 650 Newport Center Drive, Newport Beach, California 92660, on December 18, 2020 beginning at 8:00 A.M. Pacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 30, 2020. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 18, 2020. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 2019 for PIMCO Municipal Income Fund III are also available at https://vote.proxyonline.com/PIMCOFunds/docs/PIMCO_CEF_PROXY.pdf.
[PROXY ID NUMBER HERE] | [BAR CODE HERE] | [CUSIP HERE] |
PIMCO MUNICIPAL INCOME FUND III – PREFERRED SHARES | ||||
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED. | ||||
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title. | SIGNATURE (AND TITLE IF APPLICABLE) DATE | |||
SIGNATURE (IF HELD JOINTLY) DATE |
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example: 🌑
FOR | WITHHOLD | |||||
PROPOSAL | ||||||
A. Election of Trustees — The Board of Trustees urges you to vote FOR the election of the Nominees. | ||||||
1. (01) Joseph B. Kittredge, Jr. | O | O | ||||
(02) Deborah A. DeCotis | O | O | ||||
(03) William B. Ogden, IV | O | O | ||||
(04) David N. Fisher | O | O | ||||
2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). | ||||||
B. Non-Voting Items |
Change of Address — Please print new address below. | Comments — Please print your comments below. | |||||||
You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
[PROXY ID NUMBER HERE] | [BAR CODE HERE] | [CUSIP HERE] |
YOUR VOTE IS IMPORTANT NO MATTER HOW MANY SHARES YOU OWN.THE MATTERS WE ARE SUBMITTING FOR YOUR CONSIDERATION ARE SIGNIFICANT TO THE FUND AND TO YOU AS A FUND SHAREHOLDER. PLEASE TAKE THE TIME TO READ THE PROXY STATEMENT AND CAST YOUR PROXY VOTE TODAY! | PIMCO CALIFORNIA MUNICIPAL INCOME FUND III – PREFERRED SHARES |
PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 18, 2020
The undersigned holder of preferred shares of PIMCO California Municipal Income Fund III, a Massachusetts business trust (the “Fund”), hereby appoints Ryan G. Leshaw, Colleen Dean Miller and Wu-Kwan Kit, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 650 Newport Center Drive, Newport Beach, California 92660, on December 18, 2020 beginning at 8:00 A.M. Pacific Time, and any adjournment(s) or postponement(s) thereof; and (ii) cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 30, 2020. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017.18, 2020. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 2016 for PIMCO Municipal Income Fund III are also available at pimco.com/closedendfunds.
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PIMCO MUNICIPAL INCOME FUND III – PREFERRED SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑
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You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
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PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 2017
The undersigned holder of common shares of PIMCO California Municipal Income Fund III, a Massachusetts business trust (the “Fund”), hereby appoints William G. Galipeau, Joshua D. Ratner and Peter G. Strelow, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019, on December 19, 2017 beginning at 10:30 A.M. Eastern Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 20162019 for PIMCO California Municipal Income Fund III are also available at pimco.com/closedendfunds.
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PIMCO CALIFORNIA MUNICIPAL INCOME FUND III – COMMON SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑
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You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
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PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 2017
The undersigned holder of preferred shares of PIMCO California Municipal Income Fund III, a Massachusetts business trust (the “Fund”), hereby appoints William G. Galipeau, Joshua D. Ratner and Peter G. Strelow, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019, on December 19, 2017 beginning at 10:30 A.M. Eastern Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 2016 for PIMCO California Municipal Income Fund III are also available at pimco.com/closedendfundshttps://vote.proxyonline.com/PIMCOFunds/docs/PIMCO_CEF_PROXY.pdf.
[PROXY ID NUMBER HERE]
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[BAR CODE HERE] |
[CUSIP HERE] |
PIMCO CALIFORNIA MUNICIPAL INCOME FUND III – PREFERRED SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
SIGNATURE (AND TITLE IF APPLICABLE) | DATE | |
SIGNATURE (IF HELD JOINTLY) | DATE |
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑
FOR | WITHHOLD | |||||||
PROPOSAL | ||||||||
A. Election of Trustees — The Board of Trustees urges you to voteFOR the election of the Nominees. |
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1. (01) | O | O | ||||||
(02) | O | O | ||||||
(03) | O | O | ||||||
(04) | O | O | ||||||
2. To vote and otherwise represent the undersigned on any other business that may properly come before the Annual Meeting or any adjournment(s) or postponement(s) thereof, in the discretion of the proxy holder(s). |
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B. Non-Voting Items |
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Change of Address — Please print new address below. | Comments — Please print your comments below. | |||||||
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You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
[PROXY ID NUMBER HERE]
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[BAR CODE HERE] |
[CUSIP HERE] |
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PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 2017
The undersigned holder of common shares of PIMCO New York Municipal Income Fund III, a Massachusetts business trust (the “Fund”), hereby appoints William G. Galipeau, Joshua D. Ratner and Peter G. Strelow, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019, on December 19, 2017 beginning at 10:30 A.M. Eastern Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 2016 for PIMCO New York Municipal Income Fund III are also available at pimco.com/closedendfunds.
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PIMCO NEW YORK MUNICIPAL INCOME FUND III – COMMON SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑
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You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
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PROXY IN CONNECTION WITH THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON DECEMBER 19, 2017
The undersigned holder of preferred shares of PIMCO New York Municipal Income Fund III, a Massachusetts business trust (the “Fund”), hereby appoints William G. Galipeau, Joshua D. Ratner and Peter G. Strelow, or any of them, each with full power of substitution, as the proxy or proxies for the undersigned to: (i) attend the Annual Meeting of Shareholders of the Fund (the “Annual Meeting”) to be held at the offices of Pacific Investment Management Company LLC, 1633 Broadway, between West 50thand West 51stStreets, 42nd Floor, New York, New York 10019, on December 19, 2017 beginning at 10:30 A.M. Eastern Time, and any adjournment(s) or postponement(s) thereof; and (ii) to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned as if personally present at such Annual Meeting. The undersigned acknowledges receipt of the Notice of the Annual Meeting and accompanying Proxy Statement dated October 23, 2017. The undersigned hereby revokes any prior proxy given with respect to the Annual Meeting, and ratifies and confirms all that the proxies, or any one of them, may lawfully do.
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND, WHICH UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL.
IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO A PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST “FOR” SUCH PROPOSAL.
Please refer to the Proxy Statement for a discussion of the proposal.
PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 19, 2017. The Proxy Statement and the Annual Report to Shareholders for the fiscal year ended December 31, 2016 for PIMCO New York Municipal Income Fund III are also available at pimco.com/closedendfunds.
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PIMCO NEW YORK MUNICIPAL INCOME FUND III – PREFERRED SHARES
YOUR SIGNATURE IS REQUIRED FOR YOUR VOTE TO BE COUNTED.
Please sign this proxy card exactly as your name(s) appear(s) on the proxy card. Joint owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must sign. If a corporation, the signature should be that of an authorized officer who should state his or her title.
TO VOTE, MARK ONE CIRCLE IN BLUE OR BLACK INK. Example:🌑
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You can vote on the internet, by telephone or by mail. Please see the reverse side for instructions.
PLEASE VOTE ALL YOUR BALLOTS IF YOU RECEIVED MORE THAN ONE BALLOT DUE TO MULTIPLE INVESTMENTS IN THE FUND. REMEMBER TO SIGN AND DATE ABOVE BEFORE MAILING IN YOUR VOTE. THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
THANK YOU FOR VOTING
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