M&A - SUNAMERICA SERIES TRUST

Form Type: 497

Filing Date: 2025-01-29

Corporate Action: Merger

Type: New

Accession Number: 000119312525015890

Filing Summary: On December 11, 2024, the Board of Trustees of Seasons Series Trust approved the reorganization of the SA T. Rowe Price Growth Stock Portfolio into the SA MFS Blue Chip Growth Portfolio. This decision was made to enhance the interests of shareholders, ensuring that the reorganization would not dilute their holdings. The exchange will occur on a tax-free basis for federal income tax purposes. Shareholders will automatically receive shares of the MFS Blue Chip Growth Portfolio equivalent to the net asset value of their current holdings in the TRP Growth Stock Portfolio upon completion of the reorganization, which is expected in the second quarter of 2025. The anticipated benefits include potential operating efficiencies, a lower expense structure, and access to a fund with a better long-term performance history. The total expenses of the reorganization are estimated at $163,000, to be split evenly between SunAmerica and the Target Portfolio. The document emphasizes that shareholders' rights and privileges will remain unchanged post-reorganization.

Form Type: 497

Filing Date: 2025-01-29

Corporate Action: Merger

Type: New

Accession Number: 000119312525015892

Filing Summary: The document details the reorganization of the SA BlackRock VCP Global Multi Asset Portfolio and the SA PIMCO VCP Tactical Balanced Portfolio into the SA VCP Dynamic Allocation Portfolio, approved by the Board of Trustees on December 11, 2024. The reorganization aims to combine the assets of the Target Portfolios into a single Acquiring Portfolio to achieve potential operating efficiencies and economies of scale. Shareholders were first notified on December 13, 2024, and no action is required from shareholders, as they will automatically receive shares in the Acquiring Portfolio equivalent in value to their existing shares. The expected completion of the reorganization will not incur any federal income tax liabilities for the shareholders and is anticipated to occur in the second quarter of 2025. The rationale for the reorganization includes expected reductions in management fees, lower total annual operating expenses, and improved performance history for shareholders. The document discusses the conversion of shares, the treatment of liabilities, and operational impacts following the reorganization, reaffirming that shareholders will hold the same class of shares as before.