Business Context and Reporting Period
This Form 8-K filing by PIMCO New York Municipal Income Fund II reports on the results of its annual shareholder meeting held on December 17, 2019. The report date is January 3, 2020, coinciding with the certification of election results.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and shareholder voting outcomes.
Material Changes and Governance Events
Trustee Election Results (Common and Preferred Shareholders Voting Together)
- Sarah E. Cogan (Class II): Elected with 97.13% affirmative votes.
- Deborah A. DeCotis (Class II): Elected with 97.07% affirmative votes.
- David N. Fisher (Class III): Elected with 97.19% affirmative votes.
- Hans W. Kertess (Class II): Elected with 97.14% affirmative votes.
Trustee Election Results (Preferred Shareholders Voting Separately)
- James A. Jacobson: Received 0.31% affirmative votes (86.36% withheld authority) in a contested election.
- Derrick A. Clark: Elected with 13.34% affirmative votes (nominated by Dryden Capital Fund, LP and affiliates).
Board Composition Changes
- Retirement: Bradford K. Gallagher retired effective December 31, 2019.
- Reassignment: Following the contested election, James A. Jacobson was appointed as a Class III Trustee to be elected by common and preferred shareholders voting together, effective December 17, 2019.
- Continuing Trustees: T. Matthew Buffington, John C. Maney, William B. Ogden, IV, and Alan Rappaport continue to serve.
Guidance, Outlook, and Risks
The filing text does not provide guidance, outlook, management commentary on financial performance, or specific risk factors. The document serves solely to disclose Regulation FD information regarding the shareholder meeting results.
Key Facts for Investor Verification
- Verify the impact of the contested election on the Fund's governance structure, specifically the shift of James A. Jacobson to a Class III position.
- Confirm the representation of Dryden Capital Fund, LP on the Board following the election of Derrick A. Clark by preferred shareholders.
- Note the retirement of Bradford K. Gallagher and the resulting vacancy or reassignment on the Board.
- Review the high percentage of withheld authority (approx. 86%) for the preferred shareholder class election of James A. Jacobson.