DNP (DNP) MetLife Investment Mgmt (10% Owner) Sells Shares

What Happened

• MetLife Investment Management, LLC, reported multiple dispositions on July 22, 2026 that together total 80,100,000 shares of DNP Select Income Fund Inc. (DNP). The filing lists five "other acquisition or disposition (J)" entries for 40,600,000; 32,400,000; 1,700,000; 3,100,000; and 2,300,000 shares, all marked as disposed. No per-share prices or total dollar values are reported in the Form 4 because these transactions were settlements tied to the maturity and repayment of Series B Senior Secured Notes on July 22, 2026—not routine open-market sales.

Key Details

• Transaction date: July 22, 2026. Filing date: July 24, 2026 (appears within the standard Section 16 reporting window).
• Shares disposed: 80,100,000 total (broken down as 40,600,000; 32,400,000; 1,700,000; 3,100,000; 2,300,000). Price: N/A (not reported).
• Shares owned after transaction: Not specified in the filing.
• Footnotes of note:
  • F1: The Series B Senior Secured Notes matured on July 22, 2026; issuer repaid principal plus accrued interest. The interest is exempt from Section 16 under Rule 16a-9.
  • F2: The notes (and related dispositions) were held directly by clients for whom the reporting person serves as investment manager.
  • F3: MetLife Investment Management disclaims beneficial ownership except to the extent of its pecuniary interest.
• Filing timeliness: Reported two days after the transaction date; no indication in the filing that it was late.

Context

• This Form 4 reflects institutional dispositions tied to the maturity and repayment of debt (Series B notes) rather than a manager personally selling shares on the open market. For retail investors, that means the entries likely document the conversion/repayment process rather than a discretionary sell signal from company insiders. MetLife Investment Management is reported as a 10% owner in its capacity as an investment manager to clients, not as an individual executive.