MALONE PETER GERALD 4

What Happened
Peter Gerald Malone, a director, acquired 322 common shares of abrdn Asia‑Pacific Income Fund, Inc. (FAX) on May 15, 2026 as part of a fund reorganization. This acquisition was not an open‑market purchase: abrdn Global Income Fund, Inc. (the "Target Fund") was reorganized into the abrdn Asia‑Pacific Income Fund (the "Acquiring Fund"). Mr. Malone received 322 Acquiring Fund shares in exchange for his 1,822 Target Fund shares. The filing lists no per‑share trade price (N/A); the Acquiring Fund’s reported NAV was $15.509, implying an approximate value of $4,993.90 for the 322 shares.

Key Details

• Transaction date: 2026-05-15 (filed 2026-05-19). Filing appears within the Form 4 reporting window.
• Transaction type/code: "Other acquisition or disposition (J)" — a non‑market reorganization exchange.
• Shares received: 322 shares of the Acquiring Fund in exchange for 1,822 Target Fund shares.
• Reported NAVs and conversion: Target Fund NAV $2.7423; Acquiring Fund NAV $15.509; conversion ratio 0.176821. Fractional shares were paid in cash per the footnote.
• Exhibit: Exhibit 24 — Power of Attorney.
• Filing timeliness: Reported within the standard Form 4 filing period (not marked late).

Context
This was a structural fund reorganization (conversion of shares at a set ratio), not a voluntary buy or sale by the insider. Such automatic exchanges reflect fund corporate actions and should not be interpreted as a direct signal of the insider's view on the stock.