0001072613-24-000382.txt : 20240415 0001072613-24-000382.hdr.sgml : 20240415 20240415090721 ACCESSION NUMBER: 0001072613-24-000382 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20240415 DATE AS OF CHANGE: 20240415 GROUP MEMBERS: ARTHUR CHARLES REGAN GROUP MEMBERS: DANIEL & KRISTINE LIPPINCOTT JTWROS GROUP MEMBERS: DR. DANIEL C. ROBESON GROUP MEMBERS: ROBERT VANDERHOOF SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: EATON VANCE MUNICIPAL BOND FUND CENTRAL INDEX KEY: 0001176984 ORGANIZATION NAME: IRS NUMBER: 000000000 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-85179 FILM NUMBER: 24843267 BUSINESS ADDRESS: STREET 1: TWO INTERNATIONAL PLACE CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6174828260 MAIL ADDRESS: STREET 1: TWO INTERNATIONAL PLACE CITY: BOSTON STATE: MA ZIP: 02110 FORMER COMPANY: FORMER CONFORMED NAME: EATON VANCE INSURED MUNICIPAL BOND FUND DATE OF NAME CHANGE: 20020702 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Karpus Management, Inc. CENTRAL INDEX KEY: 0001048703 ORGANIZATION NAME: IRS NUMBER: 161290550 STATE OF INCORPORATION: NY FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 183 SULLY'S TRAIL CITY: PITTSFORD STATE: NY ZIP: 14534 BUSINESS PHONE: 5855864680 MAIL ADDRESS: STREET 1: 183 SULLY'S TRAIL CITY: PITTSFORD STATE: NY ZIP: 14534 FORMER COMPANY: FORMER CONFORMED NAME: KARPUS MANAGEMENT INC DATE OF NAME CHANGE: 19971029 SC 13D/A 1 karpus-sch13d_18820.htm KARPUS MANAGEMENT / EATON VANCE MUNI BOND FUND - SCHEDULE 13D/A(#3) Schedule 13D

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D/A
Under the Securities Exchange Act of 1934

(Amendment No. 3)*

 

 

 

 

Eaton Vance Municipal Bond Fund

(Name of Issuer)

Common Shares

(Title of Class of Securities)

27827X101

(CUSIP Number)

Daniel L. Lippincott, President and Chief Investment Officer
Karpus Management, Inc.
d/b/a Karpus Investment Management
183 Sully’s Trail

Pittsford, New York 14534
(585) 586-4680

Adam W. Finerman, Esq.
BakerHostetler
45 Rockfeller Plaza
New York, New York 10111
(212) 589-4233

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

April 11, 2024

(Date of Event which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

__________ 

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

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

 

 

 

CUSIP No. 27827X101

13D Page 2 of 11 Pages    

 

1.  

NAME OF REPORTING PERSON

 

Karpus Management Inc. d/b/a Karpus Investment Management

 

   
2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

 

 

 

(a)

(b)

3.  

SEC USE ONLY

 

 

 

   
4.  

SOURCE OF FUNDS

  

WC

 

   
5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)     

 

 

 

   
6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

NEW YORK

  

   
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH  

 7.

 

SOLE VOTING POWER

 

14,354,008.268 Shares

 

  8.  

SHARED VOTING POWER

 

0 Shares

 

  9.  

SOLE DISPOSITIVE POWER

 

14,354,008.268 Shares

 

  10.  

SHARED DISPOSITIVE POWER

 

0 Shares

 

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

14,354,008.268 Shares

 

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

 

 

   
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

  

20.17%

 

   

 14.

 

TYPE OF REPORTING PERSON

   

IA

 

   

 

 

 

CUSIP No. 27827X101

13D Page 3 of 11 Pages    

 

1.  

NAME OF REPORTING PERSON

 

DANIEL AND KRISTINE LIPPINCOTT JTWROS

 

   
2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

 

 

 

(a)

(b)

3.  

SEC USE ONLY

 

 

 

   
4.  

SOURCE OF FUNDS

  

 

 

   
5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)     

 

 

 

   
6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

NEW YORK

  

   
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH  

 7.

 

SOLE VOTING POWER

 

0 Shares

 

  8.  

SHARED VOTING POWER

 

5,000 Shares

 

  9.  

SOLE DISPOSITIVE POWER

 

0 Shares

 

  10.  

SHARED DISPOSITIVE POWER

 

5,000 Shares

 

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

5,000 Shares

 

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

 

 

   
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

  

Less than 1%

 

   

 14.

 

TYPE OF REPORTING PERSON

   

IN

 

   

 

 

 

CUSIP No. 27827X101

13D Page 4 of 11 Pages    

 

1.  

NAME OF REPORTING PERSON

 

DR. DANIEL C. ROBESON

 

   
2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

 

 

 

(a)

(b)

3.  

SEC USE ONLY

 

 

 

   
4.  

SOURCE OF FUNDS

  

 

 

   
5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)     

 

 

 

   
6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

NEW YORK

  

   
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH  

 7.

 

SOLE VOTING POWER

 

0 Shares

 

  8.  

SHARED VOTING POWER

 

0 Shares

 

  9.  

SOLE DISPOSITIVE POWER

 

0 Shares

 

  10.  

SHARED DISPOSITIVE POWER

 

0 Shares

 

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

0 Shares

 

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

 

 

   
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

  

0%

 

   

 14.

 

TYPE OF REPORTING PERSON

   

IN

 

   

 

 

 

CUSIP No. 27827X101

13D Page 5 of 11 Pages    

 

1.  

NAME OF REPORTING PERSON

 

ARTHUR CHARLES REGAN

 

   
2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

 

 

 

(a)

(b)

3.  

SEC USE ONLY

 

 

 

   
4.  

SOURCE OF FUNDS

  

 

 

   
5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)     

 

 

 

   
6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

NEW YORK

  

   
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH  

 7.

 

SOLE VOTING POWER

 

0 Shares

 

  8.  

SHARED VOTING POWER

 

0 Shares

 

  9.  

SOLE DISPOSITIVE POWER

 

0 Shares

 

  10.  

SHARED DISPOSITIVE POWER

 

0 Shares

 

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

0 Shares

 

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

 

 

   
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

  

0%

 

   

 14.

 

TYPE OF REPORTING PERSON

   

IN

 

   

 

 

 

CUSIP No. 27827X101

13D Page 6 of 11 Pages    

 

1.  

NAME OF REPORTING PERSON

 

ROBERT VANDERHOOF

 

   
2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

 

 

 

(a)

(b)

3.  

SEC USE ONLY

 

 

 

   
4.  

SOURCE OF FUNDS

  

 

 

   
5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)     

 

 

 

   
6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

NEW YORK

  

   
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH  

 7.

 

SOLE VOTING POWER

 

0 Shares

 

  8.  

SHARED VOTING POWER

 

0 Shares

 

  9.  

SOLE DISPOSITIVE POWER

 

0 Shares

 

  10.  

SHARED DISPOSITIVE POWER

 

0 Shares

 

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

0 Shares

 

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

 

 

   
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

  

0%

 

   

 14.

 

TYPE OF REPORTING PERSON

   

IN

 

   

 

 

 

CUSIP No. 27827X101

13D Page 7 of 11 Pages    

 

 

EXPLANATORY NOTE 

 

This amendment No. 3 (“Amendment”) amends and supplements the statement on Schedule 13D filed by Karpus Management Inc., d/b/a Karpus Investment Management (“Karpus”), on January 19, 2024, as amended by Amendment No. 1 filed on March 6, 2024, and by Amendment No. 2 filed on March 7, 2024 ( the “Original Schedule 13D” and, as amended by this Amendment, the “Schedule 13D”), relating to the shares of Common Stock of Eaton Vance Municipal Bond Fund, (“Shares”), a Massachusetts corporation (the “Issuer”). Except as specifically provided herein, each Item of the Original Schedule 13D remains unchanged. Capitalized terms used but not otherwise defined herein have meanings set forth in the Original Schedule 13D.

 

 

Item 2.Identity and Background.

 

Item 2 is hereby amended and restated to read as follows:

 

(a)This statement is filed by:
i.Karpus Management, Inc., d/b/a Karpus Investment Management (“Karpus”). Karpus is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940.Karpus is controlled by City of London Investment Group plc (“CLIG”), which is listed on the London Stock Exchange. However, in accordance with SEC Release No. 34-39538 (January 12, 1998), effective informational barriers have been established between Karpus and CLIG such that voting and investment power over the subject securities is exercised by Karpus independently of CLIG, and, accordingly, attribution of beneficial ownership is not required between Karpus and CLIG. The shares to which this filing relates are owned directly by the Accounts managed by Karpus.
ii.Daniel and Kristine Lippincott JTWROS
iii.Dr. Daniel C. Robeson
iv.Arthur Charles Regan
v.Robert Vanderhoof

 

Each of the foregoing is referred to as a “Reporting Person” and collectively as the “Reporting Persons.” Each of the Reporting Persons is party to that certain Joint Filing and Solicitation Agreement as further described in Item 6. Accordingly, the Reporting Persons are hereby filing a joint Schedule 13D.

 

Set forth on Schedule A annexed hereto (“Schedule A”) is the name and present principal business, occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted of the executive officers and directors of Karpus. To the knowledge Karpus, except as otherwise disclosed on Schedule A, none of the persons listed on Schedule A beneficially owns any securities of the Issuer or is a party to any contract, agreement or understanding required to be disclosed herein.

 

(b)The address of the principal office of Karpus and Mr. and Mrs. Lippincott is 183 Sully's Trail, Pittsford, New York 14534. The address of the principal office of Dr. Robeson is 515 Loudonville Road, Loudonville, NY 12211. The address of the principal office of Mr. Regan is 505 Eighth Avenue, Suite 800, New York, New York 10018. The address of Mr. Vanderhoof is 47 Niagara St., Miller Place, New York 11764.
(c)The principal business of Karpus is serving as a registered investment adviser that provides investment management for individuals, pension plans, profit sharing plans, corporations, endowments, trust, and others. Mr. and Mrs. Lippincott are the shareholders of record submitting the nomination and proposal further described in Item 4. The principal occupation of Dr. Robeson is business professor. The principal occupation of Mr. Regan is President and CEO of a proxy solicitation/stockholder services firm. The principal occupation of Mr. Vanderhoof is retired.
(d)Neither Karpus, nor to the knowledge of Karpus, any person listed on Schedule A has, during the past five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)Neither Karpus, nor to the knowledge of Karpus, any person listed on Schedule A has, during the last five years, been party to a civil proceeding or a judicial or administrative body of competent jurisdiction as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)Karpus is organized under the laws of the State of New York. Mr. and Mrs. Lippincott, Dr. Robeson, Mr. Regan, and Mr. Vanderhoof are citizens of the United States of America.

 

 

Item 3.Source and Amount of Funds or Other Consideration.

  

Item 3 is hereby amended and restated to read as follows:

 

Karpus an independent registered investment advisor, has accumulated 14,354,008.268 Shares on behalf of accounts managed by Karpus (the “Accounts”) under limited powers of attorney. All funds that have been utilized in making such purchases for the Accounts (which are open market purchases unless otherwise noted) are from such Accounts.

 

The aggregate purchase price of the 14,354,008.268 Shares beneficially owned by Karpus is approximately $144,312,580.17, excluding brokerage commissions. The Shares purchased by Karpus with working capital (which may at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases except as otherwise noted herein.

 

The aggregate purchase price of the 5,000 Shares held by Daniel and Kristine Lippincott JTWROS is approximately $50,578, excluding brokerage commissions. 

 

 

 

Item 4.Purpose of Transaction.

 

Item 4 is hereby amended and restated to read as follows:

 

On April 11, 2024, Karpus delivered a letter (the “Proposal Letter”) to the Secretary of the Issuer to (i) nominate three persons for election to the board of directors of the Issuer at the 2024 Annual Meeting of Shareholders, and (ii) present one additional proposal for consideration by the Issuer’s Shareholders.

 

The nominee’s submitted are Dr. Daniel C. Robeson, Arthur Charles Regan, and Robert Vanderhoof.

 

The proposal is as follows:

 

1.BE IT RESOLVED, that the Investment Advisory Agreement between Eaton Vance Municipal Bond Fund (“EIM” or the “Fund”) and Eaton Vance Management (the “Adviser”) shall be terminated.

 

 

 

 

CUSIP No. 27827X101

13D Page 8 of 11 Pages    

 

 

  

Item 5.Interest in Securities of the Issuer.

 

Item 5 (A)-(C) are hereby amended and restated to read as follows:

 

The aggregate percentage of Shares reported owned by each Reporting Person is based upon 71,153,184 Shares outstanding, which is the total number of Shares outstanding as indicated on the Issuer’s Form N-CSR filed for the annual period ended September 30, 2023.

 

 

A.Karpus

(a)As of the close of business on April 11, 2024, Karpus beneficially owned an aggregate 14,354,008.268.

Shares Percentage:      20.17%

(b)1. Sole power to vote or direct vote:         14,354,008.268 Shares
  2. Shared power to vote or direct vote:          0
  3. Sole power to dispose or direct the disposition:         14,354,008.268 Shares
  4. Shared power to dispose or direct the disposition:         0

(c)The transactions in the Shares by Karpus since the filing of Amendment No. 2 to the Original Schedule 13D are set forth on Schedule B and incorporated herein for reference.

 

B.Daniel and Kristine Lippincott JTWROS

(a)As of the close of business on April 11, 2024, Mr. and Mrs. Lippincott beneficially owned 5,000 Shares.

Percentage:      Less than 1%

(b)1. Sole power to vote or direct vote:         0
  2. Shared power to vote or direct vote:          5,000 Shares
  3. Sole power to dispose or direct the disposition:         0
  4. Shared power to dispose or direct the disposition:         5,000 Shares

(c)There were no transactions in the Shares by Mr. and Mrs. Lippincott for the past 60 days.

 

C.Dr. Robeson, Mr. Regan, and Mr. Vanderhoof

(a)As of the close of business on April 11, 2024, Dr. Robeson, Mr. Regan, and Mr. Vanderhoof did not own any Shares.

Percentage:      0%

(b)1. Sole power to vote or direct vote:         0
  2. Shared power to vote or direct vote:          0
  3. Sole power to dispose or direct the disposition:         0
  4. Shared power to dispose or direct the disposition:         0

(c)Dr. Robeson, Mr. Regan, and Mr. Vanderhoof have not entered into any transactions in the Shares in the past 60 days.

 

The filing of this Schedule 13D shall not be construed as an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any of the Shares reported herein. Each Reporting Person disclaims beneficial ownership of such Shares except to the extent of his or its pecuniary interest therein. 

 

 

 

CUSIP No. 27827X101

13D Page 9 of 11 Pages    

 

 

 

 

Item 6.Contracts, Arrangements, Understandings or Relationships With respect to the Issuer.

 

Item 6 is hereby amended to add the following:

 

On April 11, 2024, the Reporting Persons entered into a Joint Filing and Solicitation Agreement in which, among other things, (a) the Reporting Persons agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer and (b) the Reporting Persons agreed to solicit proxies or written consents for the election of the Nominees at the Annual Meeting. The Joint Filing and Solicitation Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

 

 

Item 7.Material to be Filed as Exhibits.

 

Item 7 is hereby amended and restated to read as follows:

 

99.1      Joint Filing and Solicitation Agreement.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CUSIP No. 27827X101

13D Page 10 of 11 Pages    

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated:    April 15, 2024

  

 
KARPUS MANAGEMENT, INC.

 
       
By:
/s/ Daniel L. Lippincott  
    Name:  Daniel L. Lippincott  
    Title:    President and Chief Investment Officer  
       

 

 

 
DANIEL AND KRISTINE LIPPINCOTT JTWROS

 
       
By:
/s/ Daniel L. Lippincott  
    Name:  Daniel L. Lippincott  
     
       
  By: /s/ Daniel L. Lippincott    
    Name:  Daniel L. Lippincott, as Attorney-in-Fact for Kristine Lippincott  

 

 

 

 

 

 
DR. DANIEL C. ROBESON

 
       
By:
/s/ Dr. Daniel C. Robeson  
    Name:  Dr. Daniel C. Robeson  
       

 

 

 

 
ARTHUR CHARLES REGAN

 
       
By:
/s/ Arthur Charles Regan  
    Name:  Arthur Charles Regan  
       

 

 

 

 
ROBERT VANDERHOOF

 
       
By:
/s/ Robert Vanderhoof  
    Name:  Robert Vanderhoof  
       

 

 

 

CUSIP No.  27827X101

13D Page 11 of 11 Pages    

 

SCHEDULE A

 

Executive Officers & Directors of Karpus Management, Inc., d/b/a Karpus Investment Management

 

Name Position & Present Principal Occupation Business Address Shares Owned
       
Kathleen Finnerty Crane

Chief Financial Officer

183 Sully’s Trail, Pittsford, New York 14534 17,000 Shares
Thomas Michael Duffy

Senior Vice President and

Director of Operations 

183 Sully’s Trail, Pittsford, New York 14534 0 Shares
Daniel Lee Lippincott

President and Chief Investment Officer 

183 Sully’s Trail, Pittsford, New York 14534 5,000 Shares
Brett David Gardner Senior Vice President 183 Sully’s Trail, Pittsford, New York 14534 8,950 Shares
 Jodi Lee Hedberg Chief Compliance Officer 183 Sully’s Trail, Pittsford, New York 14534 0 Shares
Thomas Wayne Griffin Director

17 East Market Street, West Chester, Pennsylvania 19382

800 Shares
Carlos Manuel Yuste Director 17 East Market Street, West Chester, Pennsylvania 19382 0 Shares

 

  


 

SCHEDULE B

 

Transactions in the Shares since the amended 13D filing on March 7, 2024.

 

Nature of the Transaction

Shares

Purchased/(Sold)

Price Per

Share($)

Date of

Purchase / Sale

 

 

KARPUS MANAGEMENT, INC., D/B/A/ KARPUS INVESTMENT MANAGEMENT
(THROUGH THE ACCOUNTS)

 

Purchase of Common Stock            650  $10.43 3/8/2024
Purchase of Common Stock         6,800  $10.36 3/12/2024
Purchase of Common Stock         9,500  $10.37 3/13/2024
Purchase of Common Stock      11,400  $10.31 3/14/2024
Purchase of Common Stock            100  $10.27 3/15/2024
Sale of Common Stock          (200) $10.37 3/19/2024
Purchase of Common Stock         5,000  $10.33 3/22/2024
Purchase of Common Stock         2,500  $10.33 3/25/2024
Purchase of Common Stock      38,768  $10.27 3/28/2024
Purchase of Common Stock         3,650  $10.16 4/1/2024
Purchase of Common Stock         9,839  $10.09 4/2/2024
Sale of Common Stock      (19,155) $10.08 4/3/2024
Purchase of Common Stock       28,413  $10.10 4/4/2024
Purchase of Common Stock         6,270  $10.05 4/5/2024

 

 

 

EX-99.1 2 exh99-1_18820.htm JOINT FILING AND SOLICITATION AGREEMENT

EXHIBIT 99.1

 

JOINT FILING AND SOLICITATION AGREEMENT

WHEREAS, certain of the undersigned are stockholders, direct or beneficial, of Eaton Vance Municipal Bond Fund, a Massachusetts business trust (the “Company”);

WHEREAS, Karpus Management, Inc. (collectively, “Karpus”), Daniel and Kristine Lippincott, Robert Vanderhoof, Daniel C. Robeson, and Arthur Charles Regan wish to form a group for the purpose of seeking representation on the Board of Directors of the Company (the “Board”) at the 2024 annual meeting of stockholders of the Company (including any other meeting of stockholders held in lieu thereof, and any adjournments, postponements, reschedulings or continuations thereof, the “2024 Annual Meeting”) and for the purpose of taking all other action necessary to achieve the foregoing.

 

NOW, IT IS AGREED, this 11th day of April 2024 by the parties hereto:

1.       In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), each of the undersigned (collectively, the “Group”) agrees to the joint filing on behalf of each of them of statements on Schedule 13D, and any amendments thereto, with respect to the securities of the Company. Each member of the Group shall be responsible for the accuracy and completeness of his/its own disclosure therein, and is not responsible for the accuracy and completeness of the information concerning the other members, unless such member knows or has reason to know that such information is inaccurate.

2.       So long as this agreement is in effect, each of the undersigned shall provide written notice to BakerHostetler LLP (“Baker”) of (i) any of their purchases or sales of securities of the Company; or (ii) any securities of the Company over which they acquire or dispose of beneficial ownership. Notice shall be given no later than 24 hours after each such transaction.

3.       Each of the undersigned agrees to form the Group for the purpose of (i) soliciting proxies or written consents for the election of the persons nominated by the Group to the Board at the 2024 Annual Meeting, (ii) taking such other actions as the parties deem advisable, and (iii) taking all other action necessary or advisable to achieve the foregoing.

4.       Karpus shall have the right to pre-approve all expenses incurred in connection with the Group’s activities and agrees to pay directly all such pre-approved expenses.

5.       Each of the undersigned agrees that any SEC filing, press release or stockholder communication proposed to be made or issued by the Group or any member of the Group in connection with the Group’s activities set forth in Section 3 shall be first approved by Karpus, or its representatives, which approval shall not be unreasonably withheld.

6.       The relationship of the parties hereto shall be limited to carrying on the business of the Group in accordance with the terms of this Agreement. Such relationship shall be construed and deemed to be for the sole and limited purpose of carrying on such business as described herein. Nothing herein shall be construed to authorize any party to act as an agent for any other party, or to create a joint venture or partnership, or to constitute an indemnification. Nothing herein shall restrict any party’s right to purchase or sell securities of the Company, as he/it deems appropriate, in his/its sole discretion, provided that all such sales are made in compliance with all applicable securities laws.

7.       This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which, taken together, shall constitute but one and the same instrument, which may be sufficiently evidenced by one counterpart.

8.       In the event of any dispute arising out of the provisions of this Agreement or their investment in the Company, the parties hereto consent and submit to the exclusive jurisdiction of the Federal and State Courts in the State of New York.

9.       Any party hereto may terminate his/its obligations under this Agreement on 24 hours’ written notice to all other parties, with a copy by e-mail to Adam W. Finerman at afinerman@bakerlaw.com.

10.     Each party acknowledges that Baker shall act as counsel for both the Group and Karpus relating to their investment in the Company.

11.     Each of the undersigned parties hereby agrees that this Agreement shall be filed as an exhibit to a Schedule 13D pursuant to Rule 13d-1(k)(1)(iii) under the Exchange Act.

 

 
 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the day and year first above written.

 

 
KARPUS MANAGEMENT, INC.

 
       
By:
/s/ Daniel L. Lippincott  
    Name:  Daniel L. Lippincott  
    Title:    President and Chief Investment Officer  
       

 

 

 
DANIEL AND KRISTINE LIPPINCOTT JTWROS

 
       
By:
/s/ Daniel L. Lippincott  
    Name:  Daniel L. Lippincott  
     
       
  By: /s/ Daniel L. Lippincott    
    Name:  Daniel L. Lippincott, as Attorney-in-Fact for Kristine Lippincott  

 

 

 

 

 
DR. DANIEL C. ROBESON

 
       
By:
/s/ Dr. Daniel C. Robeson  
    Name:  Dr. Daniel C. Robeson  
     
       

 

 

 

 
ARTHUR CHARLES REGAN

 
       
By:
/s/ Arthur Charles Regan  
    Name:  Arthur Charles Regan  
     
       

 

 

 

 
ROBERT VANDERHOOF

 
       
By:
/s/ Robert Vanderhoof  
    Name:  Robert Vanderhoof