GOLDSTEIN PHILLIP 4
4 · SPECIAL OPPORTUNITIES FUND, INC. · Filed Mar 2, 2026
Research Summary
AI-generated summary of this filing
SPE Director Phillip Goldstein Buys 5,848 Convertible Preferred Shares
What Happened
Phillip Goldstein — Chairman & Secretary, Director and an affiliate of the fund’s adviser — purchased a total of 5,848 shares of the fund’s Preferred Stock (reported as derivative securities) in two open-market transactions. On 2026-02-26 he bought 27 shares at $25.09 each ($677) and on 2026-02-27 he bought 5,821 shares at $25.09 each ($146,049), for a combined cost of about $146,726. These were purchases (not sales), i.e., insider buying.
Key Details
- Transaction dates and prices: 2026-02-26 — 27 shares @ $25.09 ($677); 2026-02-27 — 5,821 shares @ $25.09 ($146,049). Transaction code: P (purchase).
- Total purchased: 5,848 preferred shares for ~$146,726.
- Shares owned after the transactions: Not specified in the information provided.
- Filing timeliness: Form 4 filed 2026-03-02; based on the trade dates (2/26 and 2/27) this filing appears to be timely (not marked late).
- Footnotes: See conversion and redemption terms below.
Context
- These are purchases of convertible Preferred Stock (reported as derivative securities), not direct purchases of common shares. Per the filing, each Preferred share is immediately convertible into common stock at a current ratio of 1.6813 common shares per Preferred share — the 5,848 Preferred shares would convert into roughly 9,832 common shares if converted now (F1).
- The Preferred Stock will be redeemable by the issuer if not converted before January 21, 2027 (F2).
- Purchases by insiders are factual data points for investors; they don’t prove intent or guarantee future performance.
Insider Transaction Report
Form 4
GOLDSTEIN PHILLIP
DirectorChairman and SecretaryOther
Transactions
- Purchase
2.75% Convertible Preferred Stock, Series C
[F2][F1]2026-02-26$25.09/sh+27$677→ 277 totalExercise: $0.00→ Common Stock (45 underlying) - Purchase
2.75% Convertible Preferred Stock, Series C
[F2][F1]2026-02-27$25.09/sh+5,821$146,049→ 6,098 totalExercise: $0.00→ Common Stock (9,787 underlying)
Holdings
- 34,822
Common Stock
Footnotes (2)
- [F1]The shares of Preferred Stock are convertible into common stock immediately upon issuance at a conversion ratio which is subject to adjustment. The current conversion ratio is equal to 1.6813 shares of common stock for each share of Preferred Stock held.
- [F2]The shares of Preferred Stock will be redeemed by the Issuer if not converted prior to January 21, 2027.
Signature
/s/ Stephanie Darling, as Power of Attorney for Phillip Goldstein|2026-03-02