Business Combination Prospectus (Form 425)

SUP-0103-0526

Filed by AB Active ETFs, Inc.

pursuant to Rule 425 Under the Securities Act of 1933

Subject Company:

AB Equity Income Fund, Inc. (File No. 811-07916)

AB EQUITY INCOME FUND, INC. (the "Acquired Portfolio")

Class A (Ticker: AUIAX); Class C (Ticker: AUICX); Advisor Class (Ticker: AUIYX); Class I (Ticker: AUIIX); Class Z (Ticker: AUIZX)

Supplement dated May 8, 2026 to the Acquired Portfolio's Prospectus, Summary Prospectus and Statement of Additional Information, dated February 28, 2026.

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At meetings held on May 5-7, 2026, the Board of Directors of the Acquired Portfolio (the "Board") approved the reorganization of the Acquired Portfolio into a newly-created exchange-traded fund ("ETF") (the "Conversion"), which will be managed by AllianceBernstein L.P. (the "Adviser"). Pursuant to an Agreement and Plan of Acquisition and Dissolution, the Acquired Portfolio will be converted into an ETF (the "Acquiring Portfolio"), a newly-created series of AB Active ETFs, Inc., with an identical investment objective, identical fundamental investment policies, identical portfolio management team and identical investment strategies as the Acquired Portfolio. The closing date of the Conversion is expected to occur on or about November 20, 2026 (the "Closing Date").

The Acquiring Portfolio is an ETF, with shares that must be held through a broker and that trade on an exchange at market prices that may differ from the net asset value ("NAV") of the shares.

In connection with the Conversion, the Acquiring Portfolio will acquire the assets of the Acquired Portfolio and assume the liabilities, expenses and obligations of the Acquired Portfolio, and you will receive shares of the Acquiring Portfolio and cash (corresponding to any fractional Acquired Portfolio shares), with an aggregate value equal to the value of your Acquired Portfolio shares as of the Closing Date. Following the Conversion, the Acquired Portfolio will be terminated. The Conversion does not require stockholder approval and stockholders are not being asked to vote.

The Adviser believes that the Conversion will provide multiple benefits for investors of the Acquired Portfolio, including lower total expenses, intra-day share trading flexibility, increased transparency of portfolio holdings, potential for higher invested assets because of reduced cash holdings and enhanced tax efficiency. There are also certain risks, costs and other considerations associated with the Conversion, including the risk that shares of an ETF trade in the secondary market at prices that may differ from their NAV, that stockholders of an ETF may be charged fees and commissions by their brokers when effecting transactions in ETF shares, that certain account types generally cannot hold shares of ETFs and certain risks associated with ETF shares. The Adviser believes, however, that the benefits of the Conversion substantially outweigh the risks, costs and other considerations. Based on the Adviser's recommendation, the Board, including the Directors who are not "interested persons" of the Acquired Portfolio as defined in the Investment Company Act of 1940, as amended, determined that participation in the Conversion is in the best interests of the Acquired Portfolio and that the Conversion will not dilute the interests of the Acquired Portfolio's stockholders.

Stockholders of the Acquired Portfolio will receive a combined information statement/prospectus describing the Conversion and the Acquiring Portfolio, and summarizing the Board's considerations in approving the Conversion.

It is anticipated that the Conversion will qualify as a tax-free reorganization for federal income tax purposes and that generally, participating stockholders will not recognize gain or loss in connection with the Conversion. Some stockholders will receive cash payments in redemption of fractional shares of the Acquired Portfolio, and those payments may be taxable.

Importantly, in order to receive shares of the Acquiring Portfolio as part of the Conversion, you must hold Acquired Portfolio shares through a brokerage account that can accept shares of an ETF. If you do not hold Acquired Portfolio shares through that type of brokerage account, you will not receive shares of the Acquiring Portfolio as part of the Conversion. Instead, your Acquired Portfolio shares will be redeemed and you will receive cash equal to the value of your Acquired Portfolio shares. The redemption of your Acquired Portfolio shares may be a taxable event.

If you do not currently hold your Acquired Portfolio shares through a brokerage account that can hold shares of an ETF, please review the accompanying Q&A closely for additional actions that you must take to receive shares of the Acquiring Portfolio as part of the Conversion. No further action is required for stockholders that hold shares of the Acquired Portfolio through a brokerage account that can hold shares of the Acquiring Portfolio.

In anticipation of the Conversion, purchase orders, exchange orders, and redemption orders will only be accepted by the Acquired Portfolio until the dates indicated below.

Consolidation of Class A, Class C, Class I and Class Z Shares into Advisor Class Shares.

In connection with the Conversion, Class A, Class C, Class I and Class Z shares of the Acquired Portfolio will be automatically converted into Advisor Class shares. This share class consolidation is expected to occur on October 16, 2026 or another date selected by the Adviser prior to the Closing Date, without the imposition of any sales load, fee or other charge.

Advisor Class shares of the Acquired Portfolio currently have a lower net expense ratio than Class A, Class C and Class I shares. Advisor Class shares of the Acquired Portfolio currently have a higher net expense ratio than Class Z shares. After Class A, Class C, Class I and Class Z shares of the Acquired Portfolio are converted into Advisor Class shares and until the the Closing Date, the Adviser intends to waive the management fee and/or reimburse other expenses of the Advisor Class shares so that the net expense ratio does not exceed that of the net expense ratio of the Class Z shares or any other consolidating class. Stockholders should consult the prospectus of the Acquired Portfolio for additional information on Advisor Class shares.

The consolidation of Class A, Class C, Class I and Class Z shares of the Acquired Portfolio, is not expected to be a taxable event for federal income tax purposes and should not result in the recognition of gain or loss by converting stockholders, although each stockholder should consult with his or her own tax adviser. The cash value of a stockholder's investment will not change as a result of the share class consolidation.

No action is required by stockholders to effect the share class consolidation.

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IMPORTANT NOTICE ABOUT YOUR ACCOUNT HOLDING ACQUIRED PORTFOLIO SHARES QUESTIONS AND ANSWERS

The following is a brief Q&A that provides information to help you to determine if you need to take action with respect to your account holding Acquired Portfolio shares prior to the Conversion in order to receive shares of the Acquiring Portfolio.

If you are unsure about the ability of your account to accept shares of the Acquiring Portfolio, please call 800-221-5672 or contact your financial advisor or other financial intermediary.

We suggest you provide your broker with a copy of your quarterly statement from the Acquired Portfolio. Your broker will require your account number with the Acquired Portfolio, which can be found on your statement. Your broker will help you complete a form to initiate the transfer. Once you sign that form, your broker will submit the form to the Acquired Portfolio's transfer agent directly, and the shares will be transferred into your brokerage account. The sooner you initiate this transfer, the better.

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Generally, there are no costs or fees associated with an exchange of Acquired Portfolio shares. The redemption or exchange of your Acquired Portfolio shares may be a taxable event. These dates may change if the anticipated Closing Date of the Conversion changes.

In connection with the Conversion, an information statement/prospectus that will be included in a registration statement on Form N-14 will be filed with the Securities and Exchange Commission (the "SEC"). After the registration statement is filed with the SEC, it may be amended or withdrawn and the information statement/prospectus will not be distributed to stockholders unless and until the registration statement is declared effective by the SEC. Investors are urged to read the materials and any other relevant documents when they become available because they will contain important information about the Conversion. After they are filed, free copies of the materials will be available on the SEC's web site at www.sec.gov. These materials also will be available at www.abfunds.com and a paper copy can be obtained at no charge by calling 800-221-5672.

This communication is for informational purposes only and does not constitute an offer of any securities for sale. No offer of securities will be made except pursuant to a prospectus meeting the requirements of Section 10 of the Securities Act of 1933.

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This Supplement should be read in conjunction with the Prospectus for the Acquired Portfolio.

You should retain this Supplement with your Prospectus(es) for future reference.

The [A/B] Logo is a service mark of AllianceBernstein and AllianceBernstein^® is a registered trademark used by permission of the owner, AllianceBernstein L.P.

SUP-0103-0526

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