Fidelity Income Fund

06/05/2026 | Press release | Distributed by Public on 06/05/2026 08:47

Prospectus by Investment Company (Form 497)

Supplement to the
Fidelity® Total Bond K6 Fund
October 30, 2025
STATEMENT OF ADDITIONAL INFORMATION
The following information supplements information found in the "Management Contract" section.
As of April 30, 2026, portfolio manager compensation generally consists of a fixed base salary determined periodically (typically annually), a bonus, and in certain cases, participation in several types of equity-based compensation plans. A portion of portfolio manager compensation may be deferred based on criteria established by the Advisor or at the election of the portfolio manager, as applicable.
Fund Name
Portfolio Manager
Role(s)
Compensated on Fund
Benchmark Index(s)
Sub-Portfolio Benchmark Index(s)
Peer Group(s)
Sub-Portfolio Peer Group(s)
Peer Group Compensation Based on Performance of
Fidelity®
Total Bond K6 Fund
Julian
Potenza
Co-
Portfolio Manager
Yes
Bloomberg
U.S. Aggregate Bond Index
N/A
N/A
N/A
N/A
Base salary is determined by level of responsibility and tenure at the Adviser or its affiliates. The bonus includes both objective and subjective components that may be weighted differently on a case by case basis. The components of the bonus compensation are based on (i) the pre-tax investment performance of the fund(s), account(s), or if applicable, lead account(s), measured against a benchmark index and within a defined peer group, as applicable, assigned to each fund or account or, if applicable, lead account(s), and (ii) the investment performance of other funds and accounts in the same asset class. The pre-tax investment performance of the fund(s), account(s), or if applicable, lead account(s) is weighted according to tenure on those fund(s), account(s), or if applicable, lead account(s) and the average asset size of those fund(s), account(s), or if applicable, lead account(s) over the tenure. Each component is calculated separately over the tenure on those fund(s), account(s), or if applicable, lead account(s) over a measurement period that initially is contemporaneous with the tenure, but that eventually encompasses rolling periods of up to five years, for the comparison to benchmarks and/or peer groups. A subjective component of the bonus is based on the overall contribution to management of the Adviser. As applicable, the portion of the bonus that is linked to the investment performance of the fund is based on the fund's or lead account's pre-tax investment performance measured against the index in the table above, and/or the fund's or lead account's pre-tax investment performance (based on the identified class) within the peer group in the table above. As applicable, another portion of the bonus is based on the pre-tax investment performance of the fund's assets the portfolio manager manages measured against the sub-portfolio benchmark index in the table above, and/or the pre-tax investment performance of the fund's assets the portfolio manager manages within the sub-portfolio peer group in the table above. Compensation is also based on equity-based compensation plans linked to increases or decreases in the net asset value of the stock of the Adviser's parent company, a diverse financial services company engaged in various activities that include fund management, brokerage, retirement, and employer administrative services.
Portfolio managers may receive interests in certain funds or accounts managed by FMR or one of its affiliated advisers (collectively, "Proprietary Accounts"). A conflict of interest situation is presented where a portfolio manager considers investing a client account in securities of an issuer in which FMR, its affiliates or their (or their fund clients') respective directors, officers or employees already hold a significant position for their own account, including positions held indirectly through Proprietary Accounts. Because the 1940 Act, as well as other applicable laws and regulations, restricts certain transactions between affiliated entities or between an advisor and its clients, client accounts managed by FMR or its affiliates, including accounts sub-advised by third parties, are, in certain circumstances, prohibited from participating in offerings of such securities (including initial public offerings and other offerings occurring before or after an issuer's initial public offering) or acquiring such securities in the secondary market. For example, ownership of a company by Proprietary Accounts has, in certain situations, resulted in restrictions on FMR's and its affiliates' client accounts' ability to acquire securities in the company's initial public offering and subsequent public offerings, private offerings, and in the secondary market, and additional restrictions could arise in the future; to the extent such client accounts acquire the relevant securities after such restrictions are subsequently lifted, the delay could affect the price at which the securities are acquired.
A conflict of interest situation is presented when FMR or its affiliates acquire, on behalf of their client accounts, securities of the same issuers whose securities are already held in Proprietary Accounts, because such investments could have the effect of increasing or supporting the value of the Proprietary Accounts. A conflict of interest situation also arises when FMR investment advisory personnel consider whether client accounts they manage should invest in an investment opportunity that they know is also being considered by an affiliate of FMR for a Proprietary Account, to the extent that not investing on behalf of such client accounts improves the ability of the Proprietary Account to take advantage of the opportunity. FMR has adopted policies and procedures and maintains a compliance program designed to help manage such actual and potential conflicts of interest.
The following table provides information relating to other accounts managed by Julian Potenza as of April 30, 2026:
Registered Investment
Companies*
Other Pooled
Investment
Vehicles
Other
Accounts
Number of Accounts Managed
21
18
29
Number of Accounts Managed with Performance-Based Advisory Fees
none
none
none
Assets Managed (in millions)
$229,943
$39,694
$18,502
Assets Managed with Performance-Based Advisory Fees (in millions)
none
none
none
* Includes assets of Fidelity® Total Bond K6 Fund managed by the portfolio manager ($7,584 (in millions) assets managed).
As of April 30, 2026, the dollar range of shares of Fidelity® Total Bond K6 Fund beneficially owned by the portfolio manager was $100,001 - $500,000.
TBDK6-SSTK-0626-103-1.9899407.103
June 5, 2026
Fidelity Income Fund published this content on June 05, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT) on June 05, 2026 at 14:47 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]