John Hancock Preferred Income Fund III Seeks Trustee Re-election

Ticker: HPS · Form: DEF 14A · Filed: Dec 11, 2025 · CIK: 1215913

John Hancock Preferred Income Fund III DEF 14A Filing Summary
FieldDetail
CompanyJohn Hancock Preferred Income Fund III (HPS)
Form TypeDEF 14A
Filed DateDec 11, 2025
Risk Levellow
Pages15
Reading Time18 min
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, Trustee Election, Fund Governance, Shareholder Meeting, Preferred Income Fund, John Hancock, Investment Management

Related Tickers: HPS, JHI, JHS

TL;DR

**Vote FOR the proposed Trustees to ensure stable, experienced leadership and avoid unnecessary fund expenses; this is a routine but essential governance check.**

AI Summary

JOHN HANCOCK PREFERRED INCOME FUND III (HPS) is holding its annual shareholder meeting on February 17, 2026, to elect six Trustees for a three-year term expiring at the 2029 Annual Meeting. The Board of Trustees recommends voting FOR all six nominees: James R. Boyle, Kristie M. Feinberg, Grace K. Fey, Christine L. Hurtsellers, Hassell H. McClellan, and Kenneth J. Phelan. Five of the six nominees are independent of John Hancock's management, with Kristie M. Feinberg being a Non-Independent Trustee due to her role as President and Head of Retail at Manulife Investment Management. As of November 25, 2025, HPS had 32,139,369 shares outstanding. The filing emphasizes the importance of shareholder participation to avoid additional mailings and associated costs. Shareholders of record as of November 25, 2025, are eligible to vote.

Why It Matters

This DEF 14A filing is crucial for investors as it outlines the proposed leadership for JOHN HANCOCK PREFERRED INCOME FUND III (HPS), directly impacting governance and oversight. The election of six Trustees, five of whom are independent, suggests a commitment to diverse perspectives in monitoring fund performance and fees. For employees and customers, stable and experienced leadership, like that of Kristie M. Feinberg, President since 2023, can signal continuity in strategic direction. In a competitive market, effective governance is paramount for maintaining investor confidence and ensuring the fund's long-term viability against other preferred income funds.

Risk Assessment

Risk Level: low — The risk level is low as this DEF 14A filing primarily concerns the routine election of six Trustees for JOHN HANCOCK PREFERRED INCOME FUND III. There are no major proposals indicating significant strategic shifts, mergers, or financial restructuring. The Board recommends voting 'FOR' all nominees, and five of the six nominees are independent, which generally indicates good governance practices.

Analyst Insight

Investors should review the backgrounds of the six Trustee nominees, particularly their experience and independence, to ensure they align with their investment objectives. Promptly casting votes online, by phone, or by mail will help the fund avoid additional mailing expenses, benefiting all shareholders.

Key Numbers

  • 32,139,369 — Shares Outstanding (As of November 25, 2025, for JOHN HANCOCK PREFERRED INCOME FUND III)
  • 6 — Number of Trustees (Standing for election for a three-year term)
  • 5 — Independent Trustees (Out of six nominees, indicating strong governance)
  • 2029 — Term Expiration Year (For the elected Trustees)
  • 2025-12-26 — Proxy Statement Mailing Date (First mailed to shareholders)
  • 2025-11-25 — Record Date (For determining shareholders eligible to vote)
  • 2026-02-17 — Annual Meeting Date (Scheduled for 2:00 P.M. Eastern time)
  • 172 — Funds Overseen by Kristie M. Feinberg (As a Trustee within the John Hancock Fund Complex)

Key Players & Entities

  • JOHN HANCOCK PREFERRED INCOME FUND III (company) — Registrant
  • HPS (company) — Ticker
  • Kristie M. Feinberg (person) — President of Manulife John Hancock Investments and Non-Independent Trustee nominee
  • James R. Boyle (person) — Independent Trustee nominee
  • Grace K. Fey (person) — Independent Trustee nominee
  • Christine L. Hurtsellers (person) — Independent Trustee nominee
  • Hassell H. McClellan (person) — Independent Trustee nominee
  • Kenneth J. Phelan (person) — Independent Trustee nominee
  • Manulife John Hancock Investments (company) — Fund management
  • SEC (regulator) — Securities and Exchange Commission

FAQ

What is the purpose of the JOHN HANCOCK PREFERRED INCOME FUND III annual meeting?

The annual meeting for JOHN HANCOCK PREFERRED INCOME FUND III, scheduled for February 17, 2026, at 2:00 P.M. Eastern time, is primarily for the election of six Trustees to serve a three-year term ending at the 2029 Annual Meeting of Shareholders.

Who are the nominees for Trustee election for JOHN HANCOCK PREFERRED INCOME FUND III?

The six nominees for Trustee election for JOHN HANCOCK PREFERRED INCOME FUND III are James R. Boyle, Kristie M. Feinberg, Grace K. Fey, Christine L. Hurtsellers, Hassell H. McClellan, and Kenneth J. Phelan. All currently serve as Trustees.

When is the record date for voting at the JOHN HANCOCK PREFERRED INCOME FUND III annual meeting?

The record date for determining shareholders eligible to vote at the JOHN HANCOCK PREFERRED INCOME FUND III annual meeting is the close of business on November 25, 2025. Shareholders of record on this date are entitled to one vote per share.

How many shares of JOHN HANCOCK PREFERRED INCOME FUND III were outstanding on the record date?

As of the record date, November 25, 2025, JOHN HANCOCK PREFERRED INCOME FUND III had 32,139,369 shares of beneficial interest outstanding.

Is Kristie M. Feinberg an independent Trustee for JOHN HANCOCK PREFERRED INCOME FUND III?

No, Kristie M. Feinberg is a Non-Independent Trustee for JOHN HANCOCK PREFERRED INCOME FUND III due to her current position as President (Chief Executive Officer and Principal Executive Officer) since 2023 and Head of Retail at Manulife Investment Management.

What is the Board of Trustees' recommendation for the Trustee election at JOHN HANCOCK PREFERRED INCOME FUND III?

The Board of Trustees for JOHN HANCOCK PREFERRED INCOME FUND III recommends that shareholders vote "FOR" each of the six nominees in the Proposal to elect Trustees.

Where will the JOHN HANCOCK PREFERRED INCOME FUND III annual meeting be held?

The JOHN HANCOCK PREFERRED INCOME FUND III annual meeting will be held at the offices of Manulife John Hancock Investments, located at 200 Berkeley Street, Boston, Massachusetts, 02116.

How can shareholders of JOHN HANCOCK PREFERRED INCOME FUND III vote?

Shareholders of JOHN HANCOCK PREFERRED INCOME FUND III 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.

What is the term length for the Trustees being elected for JOHN HANCOCK PREFERRED INCOME FUND III?

The Trustees being elected for JOHN HANCOCK PREFERRED INCOME FUND III will serve for a three-year term, with their term expiring on the date of the 2029 Annual Meeting of Shareholders.

Why does JOHN HANCOCK PREFERRED INCOME FUND III encourage prompt voting?

JOHN HANCOCK PREFERRED INCOME FUND III encourages prompt voting to help avoid the need for additional mailings at the fund's expense, thereby saving on potential costs to obtain shareholder votes.

Industry Context

The John Hancock Preferred Income Fund III operates within the closed-end fund industry, specifically focusing on preferred income. This sector is influenced by interest rate environments, credit market conditions, and the demand for income-generating investments. Competitors often include other closed-end funds and income-focused ETFs or mutual funds.

Regulatory Implications

As a registered investment company, the fund is subject to regulations by the Securities and Exchange Commission (SEC). The filing of a DEF 14A is a standard regulatory requirement for soliciting shareholder votes. Compliance with governance rules, including the independence of Trustees, is crucial.

What Investors Should Do

  1. Review the proxy statement carefully to understand the background and qualifications of each Trustee nominee.
  2. Vote your shares promptly using the provided online, telephone, or mail options to ensure your voice is heard and to help the fund avoid additional mailing costs.
  3. Confirm your shareholder status as of the November 25, 2025, record date to ensure your vote is valid.

Key Dates

  • 2025-11-25: Record Date — Determines which shareholders are eligible to vote at the annual meeting.
  • 2025-12-26: Proxy Statement Mailing Date — The date by which shareholders are expected to receive the proxy materials, initiating the voting period.
  • 2026-02-17: Annual Shareholder Meeting — The date for the election of Trustees and other shareholder business.
  • 2029: Trustee Term Expiration — The year when the newly elected Trustees' three-year terms will conclude.

Glossary

DEF 14A
A definitive proxy statement filed with the SEC by a company to solicit shareholder votes. (This document is the primary source of information for shareholders regarding the annual meeting and proposals, 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 primary purpose of the shareholder meeting described in this filing.)
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 out of the six nominees are independent, which is a key governance indicator.)
Proxy Statement
A document providing shareholders with information about matters to be voted on at a shareholder meeting, enabling them to vote by proxy if they cannot attend. (This document details the proposal for electing Trustees and provides instructions on how shareholders can cast their votes.)
Record Date
A specific date set by a company to determine which shareholders are eligible to receive dividends, vote on corporate matters, or receive other distributions. (Shareholders of record as of November 25, 2025, are entitled to vote at the February 17, 2026, meeting.)

Year-Over-Year Comparison

This filing is a routine proxy statement for an annual shareholder meeting focused on the election of Trustees. Specific financial performance metrics or comparisons to prior filings are not detailed within this document, as its primary purpose is governance and voting procedures. The key information pertains to the upcoming election and shareholder participation.

Filing Stats: 4,422 words · 18 min read · ~15 pages · Grade level 12.4 · Accepted 2025-12-11 13:05:58

Filing Documents

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

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