Ajmera Radhika 4
Research Summary
AI-generated summary
FCO Director Ajmera Radhika Converts 1,000 Shares in Reorganization
What Happened
Ajmera Radhika, a director of abrdn Global Income Fund, Inc. (FCO), disposed of 1,000 common shares of the Target Fund as part of a fund reorganization on May 15, 2026. Under the reorganization, each FCO share was converted at a ratio of 0.176821 into common shares of the abrdn Asia‑Pacific Income Fund, Inc.; the reporting person received 176 shares of the Acquiring Fund in exchange for the 1,000 FCO shares. The filing lists prices as N/A because the transaction was a conversion (not an open‑market sale); NAVs reported on May 15 were $2.7423 (FCO) and $15.509 (Acquiring Fund).
Key Details
- Transaction date: 2026-05-15 (reorganization/conversion)
- Filing date: 2026-05-19 (Form 4 submitted after the transaction)
- Transaction code: J (other acquisition or disposition) — listed as a disposition of 1,000 Target Fund shares and acquisition of 176 Acquiring Fund shares per footnote
- Conversion ratio: 0.176821; NAVs noted in footnote: FCO $2.7423, Acquiring Fund $15.509 (values reflect NAV-based conversion less reorganization costs)
- Footnote: F1 explains the reorganization mechanics and fractional‑share cash treatment
- Exhibit: Exhibit 24 — Power of Attorney
Context
This was an administrative conversion as part of a fund reorganization, not a market sale or a purchase that signals insider buying or selling for investment reasons. Such conversions exchange shares based on NAV and a set ratio; cash is paid for any fractional shares. The filing appears to have been made after the transaction date (filed 5/19 for a 5/15 transaction), which may be later than the typical two‑business‑day Form 4 deadline.
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