GERKEN R JAY 4
4 · AB Multi-Manager Alternative Fund · Filed Jun 25, 2026
Research Summary
AI-generated summary of this filing
AB Multi-Manager Trustee R. Jay Gerken Tenders 11,276 Shares
What Happened
R. Jay Gerken, a member of the Board of Trustees of AB Multi-Manager Alternative Fund, disposed of 11,276.408 shares by tendering them for repurchase under the issuer's tender offer. The reported per-share amount used for the filing is $12.24, giving a reported transaction value of $138,023. This is a disposition (sale/tender), which is often routine in the context of fund repurchase programs rather than an open-market sale.
Key Details
- Transaction date (Period of Report): 2026-06-23; Form 4 filed: 2026-06-25.
- Reported price used for calculation: $12.24 per share; reported total value: $138,023.
- Shares tendered: 11,276.408 shares (includes 2,362.995 shares acquired via dividend reinvestment since the reporting person's last Form 4 on Feb 12, 2021).
- Transaction code: J (other acquisition or disposition) — here used for tendering shares for repurchase.
- Final repurchase amount is subject to adjustment based on the unaudited net asset value per share as of the Valuation Date (Sept 30, 2026); $12.24 was the NAV as of May 31, 2026 but may change.
- Payment terms: initial payment of 95% of repurchase value ~45 days after the Sept 30, 2026 valuation date; remaining balance paid after the issuer’s next annual audit (expected May 2027).
- Shares beneficially owned after the tender offer were not finalized in this filing and will be adjusted based on the final NAV.
Context
This was a tender/repurchase through the fund's formal tender offer (filed May 15, 2026 under Sections 14(e)(1)/13(e)(1)), not an open-market sale. The economics (final proceeds and post-transaction holdings) depend on the NAV determined Sept 30, 2026 and the subsequent audit; the filing provides the current reported NAV used for calculation but notes adjustments may follow.
Insider Transaction Report
- Other
Shares of Beneficial Interest
[F1][F2][F3]2026-06-23$12.24/sh−11,276.408$138,023→ 0 total
Footnotes (3)
- [F1]The reporting person is tendering the reported shares of beneficial interest of the issuer (the "Shares") for repurchase by the issuer at the unaudited net asset value per Share as of September 30, 2026 (the "Valuation Date") in connection with the issuer's tender offer as described in the issuer's Schedule to Tender Offer Statement under Section 14(e)(1) or 13(e)(1) of the Securities Exchange Act of 1934 that was filed with the Securities and Exchange Commission by the issuer on May 15, 2026. As of May 31, 2026, the unaudited net asset value per Share is $12.24; however, the amount of Shares disposed of by the reporting person and the amount of Shares that the reporting person will be deemed to beneficially own after the issuer's tender offer is subject to adjustment based on the unaudited net asset value per Share as of September 30, 2026.
- [F2]The reporting person will receive an initial payment equal to 95% of the value of the Shares repurchased approximately 45 days after the Valuation Date and the balance due will be paid promptly after completion of the issuer's next annual audit following the Valuation Date, expected to be completed in May 2027.
- [F3]The amount of shares disposed of by the reporting person in this reported transaction includes 2,362.995 Shares that were acquired by the reporting person pursuant to the issuer's dividend reinvestment plan since the Form 4 filing made by the reporting person in respect of the issuer on February 12, 2021.