BNY Mellon Strategic Municipal Bond Fund to Hold Annual Meeting

TL;DR

<b>BNY Mellon Strategic Municipal Bond Fund is holding its annual meeting on June 12, 2024, to vote on converting to an open-end fund and electing directors.</b>

AI Summary

BNY MELLON STRATEGIC MUNICIPAL BOND FUND, INC. (DSM) filed a Proxy Statement (DEF 14A) with the SEC on May 1, 2024. The Annual Meeting of Stockholders for BNY Mellon Strategic Municipal Bond Fund, Inc. will be held virtually on June 12, 2024. A key proposal is to convert the fund from a closed-end to an open-end management investment company. This conversion involves amending the Fund's Charter and changing certain fundamental investment policies. The meeting will also include the election of Directors, with the number of directors dependent on the approval of Proposal 1. If Proposal 1 is not approved, two Class I Directors will be elected for three-year terms.

Why It Matters

For investors and stakeholders tracking BNY MELLON STRATEGIC MUNICIPAL BOND FUND, INC., this filing contains several important signals. The proposed conversion to an open-end fund could significantly alter the fund's structure and investment strategy, impacting how shares are traded and valued. The election of directors, with a variable number based on the conversion vote, will determine the future governance and oversight of the fund.

Risk Assessment

Risk Level: low — BNY MELLON STRATEGIC MUNICIPAL BOND FUND, INC. shows low risk based on this filing. The filing is a routine proxy statement for an annual meeting and does not contain significant financial or operational disclosures that would indicate high risk.

Analyst Insight

Stockholders should carefully review the proposals regarding the fund's conversion and director elections before the June 12, 2024 meeting.

Key Numbers

• June 12, 2024 — Annual Meeting Date (Date of the Annual Meeting of Stockholders)
• 10:45 a.m. Eastern time — Meeting Time (Time of the Annual Meeting of Stockholders)
• 2 — Class I Directors (if Proposal 1 not approved) (Number of directors to be elected if the fund remains closed-end)
• 6 — Directors (if Proposal 1 approved) (Number of directors to be elected if the fund converts to open-end)

Key Players & Entities

• BNY Mellon Strategic Municipal Bond Fund, Inc. (company) — Registrant and name of the fund
• June 12, 2024 (date) — Date of the Annual Meeting of Stockholders
• 2129226400 (dollar_amount) — Business phone number for the fund's administrative office
• DREYFUS STRATEGIC MUNICIPAL BOND FUND, INC. (company) — Former name of the registrant

FAQ

Risk Factors

• Conversion to Open-End Fund [medium — regulatory]: The conversion from a closed-end to an open-end investment company requires stockholder approval and involves amending the charter and investment policies, which are subject to regulatory review and compliance.
• Virtual Meeting Format [low — operational]: Holding the annual meeting in a virtual format only may present challenges for some stockholders in accessing and participating in the meeting.

Key Dates

• 2024-06-12: Annual Meeting of Stockholders — To consider conversion to an open-end fund and elect Directors.

Glossary

Closed-end management investment company

A type of investment company that issues a fixed number of shares in an initial public offering, which then trade on a stock exchange. (The fund is currently structured as this type and a proposal is to change this structure.)

Open-end management investment company

A type of investment company that continuously offers and redeems its shares at net asset value. (The fund is proposing to convert to this structure, which will change how its shares are traded and valued.)

DEF 14A

A definitive proxy statement filed with the SEC by companies to solicit proxies from shareholders for annual or special meetings. (This filing is a DEF 14A, indicating it's a definitive proxy statement for the fund's annual meeting.)

Key Financial Figures

• $0.001 — capital stock: Common Stock, par value $0.001 per share (the &quot;Common Stock&quot;
• $25,000 — 0.001 per share, liquidation preference $25,000 per share (&quot;VMTP Shares&quot;). A
• $49,300,000 — m Federal income tax, announced sale of $49,300,000 of VMTP Shares. The Fund's Board believ
• $48,131 — exchange listing fees of approximately $48,131; but, as noted below, the Fund would ha
• $17,000 — ate, such costs aggregate approximately $17,000 per year; however, these savings would

Filing Documents

• lp1-852.htm (DEF 14A) — 373KB
• image_011.jpg (GRAPHIC) — 4KB
• image_011.gif (GRAPHIC) — 3KB
• image_012.gif (GRAPHIC) — 2KB
• image_012.jpg (GRAPHIC) — 2KB
• image_001.jpg (GRAPHIC) — 4KB
• image_001.gif (GRAPHIC) — 3KB
• image_002.gif (GRAPHIC) — 2KB
• image_002.jpg (GRAPHIC) — 2KB
• 0000855887-24-000008.txt (&nbsp;) — 406KB

From the Filing

DEF 14A 1 lp1-852.htm ALL OTHER DEFINITIVE PROXY STATEMENTS DEFA14A PROXY STATEMENT PURSUANT TO SECTION 14 (a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant[X] 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)) [X] Definitive Proxy Statement [ ] Definitive Additional Materials [_] Soliciting Materials under Rule 14a-12 BNY Mellon Strategic Municipal Bond Fund, Inc. (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): [X] No fee required. [ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11: (4) Proposed maximum aggregate value of transaction: (5) Total Fee Paid: [_] 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. (1) Amount Previously Paid: (2) Form, Schedule or Registration (3) Filing Party: (4) Date Filed: BNY MELLON STRATEGIC MUNICIPAL BOND FUND, INC. Notice of Annual Meeting of Stockholders To the Stockholders of BNY Mellon Strategic Municipal Bond Fund, Inc.: The Annual Meeting of Stockholders (the &quot;Meeting&quot;) of BNY Mellon Strategic Municipal Bond Fund, Inc. (the &quot;Fund&quot;) will be held over the Internet in a virtual meeting format only, on Wednesday, June 12, 2024 at 10:45 a.m., Eastern time, for the following purposes: 1. To consider converting the Fund from a closed-end management investment company to an open-end management investment company. This proposal includes: a. changing the Fund's subclassification from a closed-end management investment company to an open-end management investment company; b. amending and restating the Fund's Charter; and c. changing certain fundamental investment policies of the Fund. 2. To elect Directors as follows: a. if Proposal 1 is not approved, to elect two Class I Directors to serve for three-year terms until their respective successors are duly elected and qualified; b. if Proposal 1 is approved as described in the proxy statement, to elect six Directors to hold office until their successors are duly elected and qualified; 3. To transact such other business as may properly come before the Meeting, or any adjournments or postponements thereof. The Meeting will be held in a virtual meeting format only. You will not be able to attend the Meeting in person, but you may participate over the Internet as described below. However, if it is determined that the Meeting will be held in person, we will make an announcement in the manner noted below. Stockholders of record at the close of business on April 10, 2024 will be entitled to receive notice of and to vote at the Meeting. To participate in the Meeting, you must go to the Meeting website at www.meetnow.global/MD2CFQK and enter the control number found on your proxy card. If you hold your shares through an intermediary, such as a bank or broker, you must register in advance to attend the Meeting virtually. To register you must submit proof of your proxy power (legal proxy provided by your intermediary) reflecting your Fund holdings along with your name and email address to Computershare Fund Services, the Fund's tabulator. You may forward an email from your intermediary or attach an image of your legal proxy to shareholdermeetings@computershare.com. Requests for registration should be received no later than 5:00 p.m., Eastern Time, on Wednesday, June 5, 2024. You will receive a confirmation email from Computershare of your registration and a control number that will allow you to vote at the Meeting. For requests received after 5:00 p.m., Eastern Time, on Wednesday, June 5, 2024, Computershare will attempt to register you, but may be unable to do so prior to the Meeting. Questions from stockholders to be considered at the Meeting must be submitted to BNY Mellon Investment Management at 1-800-334-6899 or instsales@bnymellon.com no later than 5:00 p.m., Eastern Time, on Wednesday, June 5, 2024. Only questions that are pertinent, as determined by the chairperson of the Meeting, will be answered during the Meeting, subject to time constraints. Whether or not you plan to attend the Meeting virtually, we urge you to vote and submit your proxy in advance of the Meeting by one of the methods described in the proxy materials for the Meeting. PLEASE NOTE

View Full Filing

View this DEF 14A filing on SEC EDGAR