Pacer Funds Trust - Pacer Swan SOS Moderate (February) ETF (NYSE Arca: MFEB) is a U.S.-domiciled, actively managed exchange-traded fund designed to provide investors with exposure to the price return of the SPDR S&P 500 ETF Trust, subject to a predetermined downside buffer and upside-return cap over an approximately one-year investment period. The fund principally invests in FLEX Options referencing the SPDR S&P 500 ETF Trust and in cash and cash-equivalent collateral, including U.S. Treasury securities, to implement its structured-outcome strategy. MFEB seeks to match, before fees and expenses, the positive price return of the reference ETF up to its cap while absorbing the first 15% of reference-asset losses during the applicable investment period; losses beyond the buffer remain the responsibility of fund shareholders. The fund does not seek to provide exposure to dividends paid by the reference ETF, may not track the reference ETF outside its stated outcome range, and is intended for investors seeking defined-risk U.S. large-cap equity exposure. Pacer Funds Trust, a Delaware statutory trust headquartered in Malvern, Pennsylvania, sponsors the fund, which is part of Pacer’s Swan SOS Moderate ETF series. MFEB commenced its current investment period on May 1, 2026, with a scheduled end date of January 29, 2027; for that period, its pre-fee 15% buffer and 9.51% cap correspond to a 14.51% buffer and 9.14% cap after fund fees and expenses. Recent strategic developments include MFEB’s May 2026 launch as part of Pacer’s expansion of its Swan SOS Moderate lineup, alongside monthly outcome-date funds including MMAR, MMAY, MJUN, MAUG, MSEP, MNVR and MDCR, and a May 2026 reduction in management fees across the Swan SOS ETF series to 0.49% from 0.60%.