RiverNorth Muni Fund Seeks Board Re-election for Key Directors

TL;DR

**Vote FOR the director nominees; it's a routine re-election that maintains board stability for RMI.**

AI Summary

RiverNorth Opportunistic Municipal Income Fund, Inc. (RMI) is holding its Annual Meeting of Stockholders on September 22, 2025, to elect Directors to its Board. This DEF 14A filing outlines the proposal for RMI to elect two Class II Directors and one Class III Director. J. Wayne Hutchens is nominated for re-election as a Class II Director, with his term expiring in 2028. David M. Swanson is nominated for election and reclassification as a Class III Director, with his term expiring in 2029. Jerry R. Raio, currently a Class III Director, is nominated for election and reclassification as a Class II Director. The Board of RMI unanimously recommends voting FOR the election of these nominees. Stockholders of record as of August 19, 2025, are eligible to vote. The filing also details that the expenses for preparing the Joint Proxy Statement for RMI will be paid by the Funds, unlike some other RiverNorth funds where the Adviser covers these costs.

Why It Matters

This DEF 14A filing is crucial for RMI investors as it details the upcoming election of directors, directly impacting the fund's governance and strategic oversight. The re-election of experienced directors like J. Wayne Hutchens and the reclassification of David M. Swanson and Jerry R. Raio could signal continuity or a subtle shift in board dynamics, which is vital for maintaining investor confidence in the competitive municipal income fund market. For employees, stable leadership can ensure consistent operational direction. Customers benefit from a well-governed fund, potentially leading to more stable returns and better management of municipal bond portfolios.

Risk Assessment

Risk Level: low — The risk level is low because this DEF 14A filing primarily concerns the routine annual election of directors for RiverNorth Opportunistic Municipal Income Fund, Inc. (RMI). There are no indications of contested elections, significant changes in fund strategy, or material financial risks disclosed within this proxy statement. The Board unanimously recommends the election of the specified nominees, suggesting a smooth governance process.

Analyst Insight

Investors should review the qualifications of the nominated directors, J. Wayne Hutchens, David M. Swanson, and Jerry R. Raio, to ensure alignment with their investment objectives. Given the unanimous board recommendation, a vote FOR the nominees is a straightforward action to support the current governance structure.

Key Numbers

• September 22, 2025 — Annual Meeting Date (Date stockholders will vote on director elections)
• August 19, 2025 — Record Date (Date for determining eligible stockholders to vote)
• 11:00 a.m. (Eastern Time) — Annual Meeting Time (Scheduled start time for the Annual Meeting)
• 2 — Class II Directors (Number of Class II Directors to be elected for RMI)
• 1 — Class III Director (Number of Class III Directors to be elected for RMI)
• 3 — Years (Term length for elected directors)
• 2028 — Term Expiration Year (J. Wayne Hutchens's proposed term expiration)
• 2029 — Term Expiration Year (David M. Swanson's proposed term expiration)
• (866) 963-5819 — Computershare Toll-Free Number (Contact for voting process questions)
• 360 South Rosemary Avenue, Suite 1420, West Palm Beach, Florida 33401 — Meeting Location (Physical address of the Annual Meeting)

Key Players & Entities

• RiverNorth Opportunistic Municipal Income Fund, Inc. (company) — Registrant
• RiverNorth Capital Management, LLC (company) — Investment Adviser
• J. Wayne Hutchens (person) — Nominee for Class II Director
• David M. Swanson (person) — Nominee for Class III Director
• Jerry R. Raio (person) — Nominee for Class II Director
• Marcus L. Collins (person) — Secretary and Chief Compliance Officer of each Fund
• Computershare (company) — Proxy solicitation agent
• $0.0001 (dollar_amount) — Par value per common share
• SEC (regulator) — Securities and Exchange Commission
• West Palm Beach, Florida (location) — Location of Annual Meeting

FAQ

Industry Context

The RiverNorth Opportunistic Municipal Income Fund, Inc. operates within the closed-end fund sector, specifically focusing on municipal income. This sector is influenced by interest rate environments, municipal bond market conditions, and regulatory changes affecting tax-exempt income. Competition exists among various closed-end funds and other investment vehicles offering municipal bond exposure.

Regulatory Implications

As a registered investment company, RMI is subject to SEC regulations, including proxy solicitation rules (governed by Schedule 14A). The election of directors and adherence to corporate governance best practices are key compliance areas. Changes in tax laws or municipal finance regulations could also impact the fund's investment strategy and performance.

What Investors Should Do

1. Vote on Director Nominees
2. Review Proxy Statement
3. Vote by Mail or Online

Key Dates

• 2025-09-22: Annual Meeting of Stockholders — Stockholders will vote on the election of Directors to the Board.
• 2025-08-19: Record Date — Determines which stockholders are eligible to vote at the Annual Meeting.
• 2025-08-29: Mailing of Proxy Statement and Proxy Card — Informs stockholders of the upcoming meeting and provides materials for voting.

Glossary

DEF 14A

A filing with the U.S. Securities and Exchange Commission (SEC) that provides detailed information to shareholders about matters to be voted on at an annual meeting, including director elections and executive compensation. (This document is the primary source of information regarding the RiverNorth Opportunistic Municipal Income Fund, Inc.'s annual meeting and director nominations.)

Class II Directors

Directors whose terms expire in a particular year, forming one of three classes of directors on a staggered board. (The election of two Class II Directors is a key proposal at the RMI annual meeting.)

Class III Director

Directors whose terms expire in a different year than Class I or Class II directors, forming one of three classes on a staggered board. (The election of one Class III Director is a key proposal at the RMI annual meeting.)

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. (Stockholders of record on August 19, 2025, are eligible to vote at the September 22, 2025, Annual Meeting.)

Joint Proxy Statement

A single proxy statement filed by multiple related entities (in this case, several RiverNorth Funds) for a combined meeting of their stockholders. (This filing is a joint proxy statement covering multiple RiverNorth funds, including RMI, for their annual meetings.)

Year-Over-Year Comparison

This filing is a DEF 14A for an annual meeting focused on director elections. It does not contain comparative financial performance data or revenue breakdowns from a previous year's filing. The primary focus is on the upcoming meeting's agenda and the nominees for the Board of Directors.

Key Financial Figures

• $0.0001 — ommon shares with a par value of $0.0001 per share. OPP has two classes of stock

Filing Documents

• fp0095144-1_def14a.htm (DEF 14A) — 366KB
• fp0095144-1_001.jpg (GRAPHIC) — 75KB
• fp0095144-1_002.jpg (GRAPHIC) — 79KB
• fp0095144-1_003.jpg (GRAPHIC) — 75KB
• fp0095144-1_004.jpg (GRAPHIC) — 83KB
• fp0095144-1_005.jpg (GRAPHIC) — 77KB
• fp0095144-1_006.jpg (GRAPHIC) — 82KB
• fp0095144-1_007.jpg (GRAPHIC) — 74KB
• fp0095144-1_008.jpg (GRAPHIC) — 80KB
• fp0095144-1_009.jpg (GRAPHIC) — 71KB
• fp0095144-1_010.jpg (GRAPHIC) — 81KB
• fp0095144-1_011.jpg (GRAPHIC) — 94KB
• fp0095144-1_012.jpg (GRAPHIC) — 101KB
• fp0095144-1_013.jpg (GRAPHIC) — 94KB
• fp0095144-1_014.jpg (GRAPHIC) — 105KB
• fp0095144-1_015.jpg (GRAPHIC) — 97KB
• fp0095144-1_016.jpg (GRAPHIC) — 95KB
• fp0095144-1_017.jpg (GRAPHIC) — 93KB
• fp0095144-1_018.jpg (GRAPHIC) — 95KB
• fp0095144-1_019.jpg (GRAPHIC) — 93KB
• fp0095144-1_020.jpg (GRAPHIC) — 95KB
• 0001398344-25-016671.txt ( ) — 2770KB

From the Filing

DEF 14A 1 fp0095144-1_def14a.htm UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) SCHEDULE 14A INFORMATION Proxy 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 Material Pursuant to § 240.14a-12. RIVERNORTH/DOUBLELINE STRATEGIC OPPORTUNITY FUND, INC. RiverNorth Capital and Income Fund, Inc. RiverNorth Opportunities Fund, Inc. RiverNorth Opportunistic Municipal Income Fund, Inc. Rivernorth managed duration municipal income fund, inc. Rivernorth managed duration municipal income fund II, inc. Rivernorth Flexible municipal income fund, inc. RiverNorth Flexible Municipal Income FUnd II, 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 (set forth the amount on which the filing fee is calculated and state how it was determined): (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 Statement No.: (3) Filing Party: (4) Date Filed: RIVERNORTH/DOUBLELINE STRATEGIC OPPORTUNITY FUND, INC. RIVERNORTH CAPITAL AND INCOME FUND, INC. RIVERNORTH OPPORTUNITIES FUND, INC. RIVERNORTH OPPORTUNISTIC MUNICIPAL INCOME FUND, INC. RIVERNORTH MANAGED DURATION MUNICIPAL INCOME FUND, INC. RIVERNORTH MANAGED DURATION MUNICIPAL INCOME FUND II, INC. RIVERNORTH FLEXIBLE MUNICIPAL INCOME FUND, INC. RIVERNORTH FLEXIBLE MUNICIPAL INCOME FUND II, INC. 360 South Rosemary Avenue Suite 1420 West Palm Beach, Florida 33401 NOTICE OF Annual MEETING OF stockholders To be held September 22, 2025 RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (“OPP”), RiverNorth Opportunities Fund, Inc. (“RIV”), RiverNorth Capital and Income Fund, Inc. (“RSF”), RiverNorth Opportunistic Municipal Income Fund, Inc. (“RMI”), RiverNorth Managed Duration Municipal Income Fund, Inc. (“RMM”), RiverNorth Managed Duration Municipal Income Fund II, Inc. (“RMMZ”), RiverNorth Flexible Municipal Income Fund, Inc. (“RFM”), RiverNorth Flexible Municipal Income Fund II, Inc. (“RFMZ” and, together with OPP, RIV, RSF, RMI, RMM, RMMZ, and RFM, the “Funds”) each a Maryland corporation, will host a combined Annual Meeting of Stockholders on September 22, 2025 at the offices of RiverNorth Capital Management, LLC, 360 South Rosemary Avenue, Suite 1420, West Palm Beach, Florida 33401, at 11:00 a.m. (Eastern Time) (the “Annual Meeting” or “Meeting”). The Annual Meeting is being held so that stockholders can consider the following proposals: 1. To elect Directors to the Board of Directors (each a “Board”) of each Fund as outlined below: a. For OPP: to elect two (2) Class II Directors by all stockholders, voting together; and to elect one (1) Class III Director by Preferred Shares only. b. For RIV: to elect two (2) Class II Directors by all stockholders, voting together; and to elect one (1) Class III Director by Preferred Shares only. c. For RSF, to elect two (2) Class II Directors and one (1) Class III Director. d. For RMI, to elect two (2) Class II Directors and one (1) Class III Director. e. For RMM, to elect two (2) Class II Directors and one (1) Class III Director. f. For RMMZ, to elect two (2) Class II Directors and one (1) Class III Director. g. For RFM, to elect two (2) Class II Directors and one (1) Class III Director. h. For RFMZ, to elect two (2) Class II Directors and one (1) Class III Director. 2. To transact such other business as may properly come before the Annual Meeting or any adjournments or postponements thereof. THE BOARD of directors of each fund UNANIMOUSLY RECOMMENDS THAT STOCKHOLDERS VOTE FOR THE ELECTION OF THE APPLICABLE NOMINEES. Stockholders of record of each Fund at the close of business on August 19,

View Full Filing

View this DEF 14A filing on SEC EDGAR