Putnam Premier Income Trust rescinds control share acquisition provisions, adopts investment-grade policy

PUTNAM PREMIER INCOME TRUST

Board amended Bylaws to remove Article 15 and control share acquisition provisions effective November 17, 2023.
New investment policy requires fund to maintain an average portfolio rating of investment grade under normal circumstances.
Previously, on February 23, 2023, Board had exempted all prior and future purchases from the control share provisions.
Policy applies at time of investment; ratings determined by NRSRO or adviser Putnam Investment Management for unrated securities.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

PUTNAM PREMIER INCOME TRUST: Rescinded Article 15 and its control share acquisition provisions from the bylaws (effective 2023-11-17).

Change: bylaw amendment
Effective: 2023-11-17

Exact text from the filing

On November 17, 2023 , the Board of Trustees of Putnam Premier Income Trust (the “Fund”) determined it was in the best interests of shareholders to amend and restate the Bylaws of the Fund (the “Amended and Restated Bylaws”), effective as of November 17 , 2023, to rescind Article 15 and its accompanying control share acquisition provisions (the “CSA Provisions”).

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Source: SEC EDGAR

accession 0000928816-23-001558

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