John Hancock Preferred Income Fund Seeks Shareholder Vote on Trustee Elections
Ticker: HPI · Form: DEF 14A · Filed: Dec 11, 2025 · CIK: 1176199
| Field | Detail |
|---|---|
| Company | John Hancock Preferred Income Fund (HPI) |
| Form Type | DEF 14A |
| Filed Date | Dec 11, 2025 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: Proxy Statement, Board of Trustees, Shareholder Meeting, Corporate Governance, Fund Management, Preferred Income Fund, SEC Filing
Related Tickers: HPI, JHO, JHD, HPF, HPII, HPIII, PDT, HTD
TL;DR
**Vote FOR the six Trustee nominees to ensure stable, experienced leadership for John Hancock's preferred income funds, maintaining continuity and oversight.**
AI Summary
The JOHN HANCOCK PREFERRED INCOME FUND (HPI) filed a DEF 14A on December 11, 2025, primarily to solicit votes for the election of six Trustees at its annual shareholder meeting on February 17, 2026. The filing details the re-election of five Independent Trustees—James R. Boyle, Grace K. Fey, Christine L. Hurtsellers, Hassell H. McClellan, and Kenneth J. Phelan—and one Non-Independent Trustee, Kristie M. Feinberg, who also serves as President of Manulife John Hancock Investments. These Trustees, if elected, will serve a three-year term expiring at the 2029 Annual Meeting. The Board of Trustees unanimously recommends voting 'FOR' all six nominees. The fund emphasizes the importance of shareholder participation to avoid additional mailings and associated costs, urging shareholders to vote online, by phone, or by mail by the November 25, 2025 record date. The filing also lists significant shareholders, including First Trust Portfolios L.P. holding 14.32% of Diversified Income Fund and 10.63% of Premium Dividend Fund, and Morgan Stanley Smith Barney LLC holding 6.8% of Financial Opportunities Fund.
Why It Matters
This DEF 14A filing is crucial for investors as it outlines the governance structure and the individuals responsible for overseeing the JOHN HANCOCK PREFERRED INCOME FUND (HPI) and its sister funds. The election of six Trustees, including five independent members, directly impacts the fund's strategic direction, risk management, and fee oversight, which are vital for long-term investor returns. In a competitive landscape where fund performance and governance are under constant scrutiny, the composition of the Board of Trustees can significantly influence investor confidence and the fund's ability to adapt to market changes. Shareholders' active participation in this vote ensures their voice is heard in shaping the fund's leadership.
Risk Assessment
Risk Level: low — The risk level is low as this DEF 14A filing primarily concerns routine trustee elections, with the Board recommending 'FOR' all six nominees. There are no contentious proposals or significant changes to the fund's operations or investment strategy indicated, and five of the six nominees are independent, ensuring robust oversight.
Analyst Insight
Investors should review the backgrounds of the six Trustee nominees, particularly the five independent Trustees, to ensure they are comfortable with the proposed leadership. Promptly cast your vote 'FOR' the recommended nominees via online, phone, or mail to support the Board's continuity and avoid potential additional mailing expenses for the fund.
Key Numbers
- 6 — Number of Trustees to be elected (Six Trustees are standing for election for a three-year term.)
- 2029 — Year term expires for elected Trustees (Elected Trustees will serve until the 2029 Annual Meeting of Shareholders.)
- 5 — Number of Independent Trustee nominees (Five of the six Trustee nominees are independent of John Hancock's management.)
- 1 — Number of Non-Independent Trustee nominees (Kristie M. Feinberg is the sole Non-Independent Trustee nominee.)
- 2025-11-25 — Record Date for voting eligibility (Shareholders of record as of November 25, 2025, are eligible to vote.)
- 14.32% — First Trust Portfolios L.P. ownership in Diversified Income Fund (First Trust Portfolios L.P. owned 14.32% of Diversified Income Fund as of September 30, 2025.)
- 10.63% — First Trust Portfolios L.P. ownership in Premium Dividend Fund (First Trust Portfolios L.P. owned 10.63% of Premium Dividend Fund as of July 31, 2025.)
- 6.8% — Morgan Stanley Smith Barney LLC ownership in Financial Opportunities Fund (Morgan Stanley Smith Barney LLC owned 6.8% of Financial Opportunities Fund as of December 31, 2023.)
- 172 — Number of funds overseen by Kristie M. Feinberg (Kristie M. Feinberg oversees 172 funds in the John Hancock Fund Complex.)
- 2026-02-17 — Date of Annual Shareholder Meeting (The annual shareholder meeting will be held on Tuesday, February 17, 2026, at 2:00 P.M. Eastern time.)
Key Players & Entities
- JOHN HANCOCK PREFERRED INCOME FUND (company) — Registrant for DEF 14A filing
- Kristie M. Feinberg (person) — President of Manulife John Hancock Investments and Non-Independent Trustee nominee
- James R. Boyle (person) — Independent Trustee nominee since 2015
- Grace K. Fey (person) — Independent Trustee nominee since 2012
- Christine L. Hurtsellers (person) — Independent Trustee nominee since 2025
- Hassell H. McClellan (person) — Independent Trustee nominee since 2012 and Chairperson of the Board since 2017
- Kenneth J. Phelan (person) — Independent Trustee nominee since 2025
- Manulife John Hancock Investments (company) — Investment manager and administrator for the funds
- First Trust Portfolios L.P. (company) — Shareholder owning 14.32% of Diversified Income Fund and 10.63% of Premium Dividend Fund
- Morgan Stanley Smith Barney LLC (company) — Shareholder owning 6.8% of Financial Opportunities Fund
FAQ
What is the primary purpose of the JOHN HANCOCK PREFERRED INCOME FUND DEF 14A filing?
The primary purpose of the JOHN HANCOCK PREFERRED INCOME FUND DEF 14A filing is to solicit shareholder votes for the election of six Trustees at the annual shareholder meeting scheduled for February 17, 2026. This includes five Independent Trustees and one Non-Independent Trustee.
Who are the nominees for election as Trustees for the JOHN HANCOCK PREFERRED INCOME FUND?
The six nominees for election as Trustees are James R. Boyle, Kristie M. Feinberg, Grace K. Fey, Christine L. Hurtsellers, Hassell H. McClellan, and Kenneth J. Phelan. Five of these nominees are independent, while Kristie M. Feinberg is a Non-Independent Trustee.
When is the annual shareholder meeting for the JOHN HANCOCK PREFERRED INCOME FUND?
The annual shareholder meeting for the JOHN HANCOCK PREFERRED INCOME FUND is scheduled for Tuesday, February 17, 2026, at 2:00 P.M., Eastern time, at the offices of Manulife John Hancock Investments, 200 Berkeley Street, Boston, Massachusetts, 02116.
What is the record date for voting at the JOHN HANCOCK PREFERRED INCOME FUND meeting?
The record date for determining shareholders eligible to vote at the JOHN HANCOCK PREFERRED INCOME FUND meeting is the close of business on November 25, 2025. Shareholders of record on this date are entitled to one vote per share.
How does the Board of Trustees recommend shareholders vote on the Trustee election proposal?
The Board of Trustees unanimously recommends that shareholders of each fund vote 'FOR' each of the six nominees in the Proposal. This recommendation supports the continuity of the current board structure.
What is the term length for the Trustees if they are elected?
If elected, the Trustees will serve for a three-year term, expiring on the date of the 2029 Annual Meeting of Shareholders, or any special meeting held in lieu thereof.
Who is Kristie M. Feinberg and why is she considered a Non-Independent Trustee for John Hancock funds?
Kristie M. Feinberg is the President of Manulife John Hancock Investments and a Trustee nominee. She is considered a Non-Independent Trustee due to her current or former positions with the Advisor and certain of its affiliates, including Head of Retail for Manulife Investment Management since 2025.
Are there any significant shareholders mentioned in the JOHN HANCOCK PREFERRED INCOME FUND filing?
Yes, the filing mentions First Trust Portfolios L.P. owning 14.32% of Diversified Income Fund and 10.63% of Premium Dividend Fund, and Morgan Stanley Smith Barney LLC owning 6.8% of Financial Opportunities Fund as of specified dates.
What are the methods available for JOHN HANCOCK PREFERRED INCOME FUND shareholders to vote?
Shareholders of JOHN HANCOCK PREFERRED INCOME FUND can vote in three ways: online by logging on with information from their voting card, by phone using the toll-free number on their voting card, or by mail by returning the enclosed proxy voting card in the provided envelope.
Why is it important for shareholders to vote promptly for JOHN HANCOCK PREFERRED INCOME FUND?
It is important for shareholders to vote promptly to help the JOHN HANCOCK PREFERRED INCOME FUND avoid the need for additional mailings, which would incur further expenses for the fund. Prompt voting saves on potential future mailing costs to obtain shareholder votes.
Industry Context
The John Hancock Preferred Income Fund operates within the competitive landscape of income-focused investment funds, which includes other mutual funds and ETFs aiming to provide regular income streams to investors. Key industry trends involve managing interest rate sensitivity, credit risk, and dividend sustainability in a dynamic economic environment. Competition often centers on yield, risk management, and fee structures.
Regulatory Implications
As a registered investment company, the fund is subject to extensive regulation by the Securities and Exchange Commission (SEC) under the Investment Company Act of 1940. This DEF 14A filing is a mandatory disclosure requirement, ensuring transparency in corporate governance and shareholder voting processes. Compliance with proxy solicitation rules is critical to maintain investor trust and avoid regulatory scrutiny.
What Investors Should Do
- Vote your shares promptly for the election of Trustees to ensure your voice is heard and to help the fund avoid additional mailing costs.
- Review the background information of each Trustee nominee provided in the proxy statement to make an informed voting decision.
- Utilize the provided online, telephone, or mail options to submit your proxy vote by the annual meeting date of February 17, 2026.
Key Dates
- 2025-11-25: Record Date for voting eligibility — Shareholders of record as of this date are entitled to vote at the annual meeting.
- 2025-12-26: Mailing of Proxy Statement — Shareholders begin receiving the proxy materials for the upcoming annual meeting.
- 2026-02-17: Annual Shareholder Meeting — The meeting where shareholders will vote on the election of Trustees and other business.
- 2029-02-17: Term Expiration for Elected Trustees — The three-year term for the newly elected Trustees will conclude at this meeting.
Glossary
- DEF 14A
- A Definitive Proxy Statement filed with the SEC, providing detailed information to shareholders before a shareholder meeting. (This document is the primary source of information for shareholders regarding the proposals to be voted on, including the election of Trustees.)
- Trustee
- A member of the Board of Trustees responsible for overseeing the fund's operations, performance, and fees on behalf of shareholders. (The election of Trustees is the main purpose of this proxy statement, and their role is crucial for shareholder interests.)
- Independent Trustee
- A Trustee who is not an officer or employee of the fund's investment advisor or its affiliates, ensuring objective oversight. (The filing highlights that five of the six nominees are independent, which is a key governance feature.)
- Non-Independent Trustee
- A Trustee who is an officer or employee of the fund's investment advisor or its affiliates. (Kristie M. Feinberg is identified as the sole non-independent nominee, also serving as President of Manulife John Hancock Investments.)
- Proxy
- A document or instruction authorizing another person to act on behalf of the shareholder, typically to vote shares. (Shareholders are urged to submit their proxy vote online, by phone, or by mail to ensure their vote is counted.)
- Record Date
- A specific date set by the fund to determine which shareholders are eligible to receive notice of and vote at a shareholder meeting. (Shareholders must own shares as of November 25, 2025, to be eligible to vote on the election of Trustees.)
Year-Over-Year Comparison
This filing is a routine proxy statement for the annual election of Trustees and does not appear to contain comparative financial data from a previous year's filing. The primary focus is on the upcoming shareholder meeting on February 17, 2026, and the proposals to be voted upon, rather than year-over-year financial performance metrics.
Filing Stats: 4,421 words · 18 min read · ~15 pages · Grade level 12.4 · Accepted 2025-12-11 13:02:49
Filing Documents
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- 0001193125-25-315537.txt ( ) — 945KB
Legal Proceedings
Legal Proceedings 22 Audit Committee Report 22 Independent Registered Public Accounting Firm 22 Required Vote for Proposal 1 24 Miscellaneous 24 Voting Procedures 24 Telephone Voting 25 Internet Voting 25 Shareholders Sharing the Same Address 25 Other Matters 26 Shareholder Proposals 27 Audit Committee Charter 28 Nominating and Governance Committee Charter 34 John Hancock Financial Opportunities Fund John Hancock Diversified Income Fund John Hancock Preferred Income Fund John Hancock Preferred Income Fund II John Hancock Preferred Income Fund III John Hancock Premium Dividend Fund John Hancock Tax-Advantaged Dividend Income Fund (each a "fund" or "Trust" and, together, the "funds" or the "Trusts") 200 Berkeley Street, Boston, Massachusetts 02116 Proxy Statement annual meeting of shareholders to be held on February 17, 2026 Introduction This proxy statement contains the information that a shareholder should know before voting on the proposal described in the notice. Each fund will furnish, without charge, a copy of its Annual Report and/or Semiannual Report to any shareholder upon request by writing to the fund at 200 Berkeley Street, Boston, Massachusetts 02116 or by calling 800-852-0218. This proxy each of John Hancock Financial Opportunities Fund ("Financial Opportunities Fund"), John Hancock Diversified Income Fund ("Diversified Income Fund"), John Hancock Preferred Income Fund ("Preferred Income Fund"), John Hancock Preferred Income Fund II ("Preferred Income Fund II"), John Hancock Preferred Income Fund III ("Preferred Income Fund III"), John Hancock Premium Dividend Fund ("Premium Dividend Fund"), and John Hancock Tax-Advantaged Dividend Income Fund ("Tax-Advantaged Dividend Income Fund"). The meeting will be held at 200 Berkeley Street