Puerto Rico Tax-Free Fund III Sets Virtual Shareholder Meeting for Jan 8

TL;DR

**Vote FOR ALL nominated directors by January 6, 2026, to ensure stable governance for this Puerto Rico tax-free fund.**

AI Summary

The Puerto Rico Residents Tax-Free Fund III, Inc. is holding its 2025 Annual Meeting of Shareholders virtually on January 8, 2026, at 11:00 a.m. Atlantic Standard Time. The primary purpose of the meeting is to elect two directors to the Fund's Board of Directors: Agustín Cabrer and Gabriel Pagán Pedrero, both nominated for terms expiring in 2028. Shareholders of record as of November 19, 2025, are eligible to vote, with 11,027,029 shares outstanding on that date. The Board of Directors unanimously recommends voting FOR ALL of the nominated directors. The Fund's Annual Report, including audited financial statements for the fiscal year ended August 31, 2025, has been distributed. Shareholders can vote via internet at www.proxyvote.com, by mail, or by registering to attend the virtual meeting by January 6, 2026, at https://viewproxy.com/UBSPuertoRico/broadridgevsm/. The filing does not contain specific revenue or net income figures, nor does it detail key business changes or strategic outlook beyond the director elections.

Why It Matters

This DEF 14A filing outlines the upcoming director elections for the Puerto Rico Residents Tax-Free Fund III, Inc., a critical governance event for investors. The election of Agustín Cabrer and Gabriel Pagán Pedrero to the Board of Directors for terms expiring in 2028 will shape the Fund's oversight and strategic direction, directly impacting its performance and adherence to its tax-free mandate for Puerto Rico residents. For employees and customers, stable and effective leadership ensures continuity and confidence in the Fund's operations. In the competitive landscape of tax-free funds, strong governance is paramount for maintaining investor trust and attracting capital, especially in the unique Puerto Rican market.

Risk Assessment

Risk Level: low — The risk level is low as this DEF 14A filing primarily concerns routine director elections for the Puerto Rico Residents Tax-Free Fund III, Inc. There are no indications of contentious proposals, significant financial distress, or major operational changes. The Board of Directors unanimously recommends voting FOR ALL nominees, suggesting a lack of internal conflict.

Analyst Insight

Investors should promptly review the proxy materials and cast their votes for the nominated directors, Agustín Cabrer and Gabriel Pagán Pedrero, by the January 6, 2026, registration deadline for virtual attendance or by returning their proxy card. This ensures their voice is heard in the Fund's governance and supports the Board's recommended slate.

Key Numbers

• January 8, 2026 — Date of 2025 Annual Meeting (Meeting will be held virtually at 11:00 a.m. Atlantic Standard Time)
• November 19, 2025 — Record Date for Voting (Shareholders of record on this date are entitled to vote)
• 11,027,029 — Shares Outstanding (Total shares of common stock outstanding as of November 19, 2025)
• 2 — Number of Directors to be Elected (Agustín Cabrer and Gabriel Pagán Pedrero are nominated)
• 2028 — Expiration of Director Terms (Terms for Agustín Cabrer and Gabriel Pagán Pedrero)
• January 6, 2026 — Virtual Meeting Registration Deadline (Shareholders must register by 5:00 p.m. Atlantic Standard Time)
• 1-800-221-9825 — Toll-free contact number (For shareholders to request additional copies of reports)

Key Players & Entities

• Puerto Rico Residents Tax-Free Fund III, Inc. (company) — Registrant
• Agustín Cabrer (person) — Nominee for Director, Class II, term expiring 2028
• Gabriel Pagán Pedrero (person) — Nominee for Director, Class II, term expiring 2028
• Liana Loyola (person) — Secretary of the Fund
• Edward Ramos (person) — Proxy holder
• Maria L. Vilaró (person) — Proxy holder
• Securities and Exchange Commission (regulator) — Regulatory body for filing
• Broadridge (company) — Virtual meeting platform provider

FAQ

Industry Context

The Puerto Rico Residents Tax-Free Fund III, Inc. operates within the closed-end fund sector, specifically focusing on municipal bonds to provide tax-exempt income to Puerto Rico residents. This niche market is influenced by the economic conditions and tax policies specific to Puerto Rico and the U.S. federal government's treatment of Puerto Rican municipal debt.

Regulatory Implications

As a registered investment company, the Fund is subject to SEC regulations, including proxy solicitation rules and reporting requirements. Changes in tax laws or regulations affecting municipal bonds or Puerto Rico's financial status could impact the Fund's investment strategy and attractiveness to its target investor base.

What Investors Should Do

1. Vote on Director Elections: Shareholders are encouraged to vote FOR the election of Agustín Cabrer and Gabriel Pagán Pedrero as directors. Their terms expire in 2028.
2. Attend Virtual Meeting: Shareholders can register to attend the virtual meeting on January 8, 2026, by January 6, 2026, to participate and vote directly.
3. Review Annual Report: Shareholders can request a copy of the Fund's Annual Report, including audited financial statements for the fiscal year ended August 31, 2025, by contacting the Fund.
4. Submit Proxy: If unable to attend the virtual meeting, shareholders should complete, sign, and date the proxy card to ensure their vote is counted.

Key Dates

• 2026-01-08: 2025 Annual Meeting of Shareholders — Shareholders will vote on the election of two directors and other business. The meeting will be held virtually.
• 2025-11-19: Record Date for Voting — Shareholders of record on this date are eligible to vote at the 2025 Annual Meeting.
• 2026-01-06: Virtual Meeting Registration Deadline — Shareholders must register by this date to attend and vote at the virtual meeting.
• 2025-12-15: Proxy Statement Mailing Date — This is the date the proxy materials were first mailed to shareholders.

Glossary

DEF 14A

A filing with the U.S. Securities and Exchange Commission (SEC) that provides detailed information about a company's annual meeting, including the agenda, director nominations, and voting procedures. (This document is the proxy statement for the Puerto Rico Residents Tax-Free Fund III, Inc.'s 2025 Annual Meeting.)

Proxy

A document that authorizes another person to act on behalf of a shareholder, typically to vote shares at a shareholder meeting. (Shareholders can use the proxy to vote for or against the nominated directors if they cannot attend the virtual meeting.)

Record Date

A specific date set by a company to determine which shareholders are eligible to vote at a shareholder meeting. (Shareholders must own shares as of November 19, 2025, to be eligible to vote at the 2025 Annual Meeting.)

Quorum

The minimum number of shareholders or shares required to be present (in person or by proxy) at a meeting for business to be legally transacted. (More than one-half of the outstanding shares must be represented for the meeting to be valid.)

Year-Over-Year Comparison

This filing primarily concerns the annual meeting and director elections, with no specific financial performance metrics or significant business changes detailed compared to a prior filing. The key information revolves around the upcoming meeting date, record date, and the nomination of directors, indicating a routine governance event rather than a period of substantial strategic shifts or performance review.

Filing Documents

• ea0269713-01_def14a.htm (DEF 14A) — 205KB
• 0001213900-25-121705.txt ( ) — 206KB

From the Filing

DEF 14A 1 ea0269713-01_def14a.htm DEF 14A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant 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)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to §240.14a-2 Puerto Rico Residents Tax-Free Fund III, Inc. (Name of Registrant as Specified In Its Charter) Payment of Filing Fee (Check the appropriate box): No fee required. Fee paid previously with preliminary materials. Fee amount computed on table in exhibit as required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. Puerto Rico Residents Tax-Free Fund III, Inc. 270 Munoz Rivera Ave, Suite 1110 San Juan, Puerto Rico 00918 NOTICE OF 2025 ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JANUARY 8, 2026 To the shareholders of the Puerto Rico Residents Tax-Free Fund III, Inc.: NOTICE IS HEREBY GIVEN that the 2025 Annual Meeting of Shareholders (including any adjournments or postponements thereof, the “2025 Annual Meeting”) of the Puerto Rico Residents Tax-Free Fund III, Inc. , a Puerto Rico corporation (the “Fund”), is scheduled to be held virtually on January 8, 2026, at 11:00 a.m. Atlantic Standard Time (10:00 a.m. Eastern Standard Time) for the following purposes: 1. To elect two directors of the Fund (PROPOSAL 1); and 2. To transact such other business as may properly come before the 2025 Annual Meeting or any adjournment or postponement thereof. The items mentioned above are discussed in greater detail in the attached Proxy Statement. The Fund has determined that it is in the best interests of the Fund’s shareholders to conduct the 2025 Annual Meeting virtually. Any shareholder wishing to participate in the 2025 Annual Meeting by means of remote communication can do so. If you were a record holder of shares of common stock of the Fund as of the close of business on the record date, November 19, 2025, please register at https://viewproxy.com/UBSPuertoRico/broadridgevsm/ no later than 5:00 p.m. Atlantic Standard Time (4:00 p.m. Eastern Standard Time) on January 6, 2026 to attend and vote at the 2025 Annual Meeting. Broadridge will then e-mail you the login information and instructions for attending and voting at the 2025 Annual Meeting. Only holders of record of shares of the Fund’s common stock at the close of business on November 19, 2025 are entitled to receive this notice and vote at the 2025 Annual Meeting the shares held of record in their name on such date. YOUR VOTE IS IMPORTANT REGARDLESS OF THE SIZE OF YOUR HOLDINGS IN THE FUND. WHETHER OR NOT YOU PLAN TO ATTEND THE MEETING, WE ASK THAT YOU PLEASE COMPLETE, SIGN AND DATE THE PROXY CARD DELIVERED TO YOU AND RETURN IT PROMPTLY. RETURNING YOUR PROXY CARD WILL NOT PREVENT YOU FROM VOTING AT THE MEETING, BUT WILL ENSURE THAT YOUR VOTE IS COUNTED IF YOU ARE UNABLE TO ATTEND. INSTRUCTIONS FOR THE PROPER EXECUTION OF THE PROXIES ARE SET FORTH ON THE FOLLOWING PAGE. In San Juan, Puerto Rico, this 15th day of December, 2025. By Order of the Board of Directors: /s/ Liana Loyola Liana Loyola Secretary INSTRUCTIONS FOR SIGNING PROXY CARDS The following general rules for signing proxy cards may be of assistance to you and avoid the invalidation of your vote if you fail to sign your proxy card properly. 1. Individual Accounts: Sign your name exactly as it appears in the registration section on the proxy card. 2. Joint Accounts: Either party may sign, but the name of the party signing should conform exactly to a name shown in the registration section. 3. All Other Accounts: The capacity of the individuals signing the proxy card should be indicated unless it is reflected in the form of registration. For example: Registration Valid Signature Corporate Accounts (1) ABC Corp. ABC Corp (2) ABC Corp. John Doe, Treasurer (3) ABC Corp. c/o John Doe, Treasurer John Doe Trust Accounts (1) ABC Trust Jane B. Doe, Trustee (2) Jane B. Doe, Trustee u/t/d 12/28/78 Jane Doe Custodial of Estate Accounts (1) John B. Smith, Cust. f/b/o John B. Smith, Jr. John B. Smith (2) John B. Smith John B. Smith, Jr., Executor Puerto Rico Residents Tax-Free Fund III, Inc. 270 Munoz Rivera Ave, Suite 1110 San Juan, Puerto Rico 00918 PROXY THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS The undersigned hereby appoints Mr. Edward Ramos and Ms. Maria L. Vilaró as proxies, each with the power to appoint his substitute, and hereby authorizes each of them to represent the undersigned and to vote, as designated on the reverse hereof, all shares of common stock of the Puerto Rico Residents Tax-Free Fund III, Inc. , a Puerto Rico co

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View this DEF 14A filing on SEC EDGAR