MALONE PETER GERALD 4
Research Summary
AI-generated summary
FCO Director Peter Malone Exchanges 1,822 Shares in Reorganization
What Happened
- Peter Gerald Malone, a director of abrdn Global Income Fund, Inc. (ticker: FCO), disposed of 1,822 FCO common shares as part of a corporate reorganization on May 15, 2026. In the reorganization he received 322 common shares of the acquiring fund, abrdn Asia‑Pacific Income Fund, Inc. This was not an open‑market sale but an exchange under the funds’ reorganization terms. Based on the acquiring fund NAV ($15.509), the 322 shares are worth approximately $4,994.
Key Details
- Transaction date: May 15, 2026 (reported on Form 4 filed May 19, 2026).
- Transaction type/code: Other acquisition/disposition in a reorganization (Footnote J).
- Shares exchanged: 1,822 FCO shares converted at a 0.176821 ratio to 322 shares of the acquiring fund.
- NAVs used in the conversion: FCO NAV $2.7423; acquiring fund NAV $15.509 (as of close May 15, 2026).
- Shares owned after transaction: Reporting person received 322 shares of abrdn Asia‑Pacific Income Fund (per footnote).
- Filing timeliness: Report filed May 19 for a May 15 transaction (filed within the standard Form 4 deadline). Exhibit 24 (Power of Attorney) is attached per the filing.
Context
- This was a fund reorganization (conversion of shares), not an insider-initiated market sale or purchase; such exchanges are typically administrative and do not necessarily signal the insider’s view on the stock. The filing documents the in-kind exchange and resulting share count.