MILLER DAVID N 4

What Happened David N. Miller, a director of Morgan Stanley Direct Lending Fund (MSDL), made two purchases of the fund's stock. He bought 5,000 shares on 2026-03-02 at $14.68 ($73,400) and another 5,000 shares on 2026-03-03 at $14.69 ($73,450), acquiring a total of 10,000 shares for $146,850. These were purchases (transaction code P), which investors often view as a more informative signal than routine insider sales.

Key Details

• Transaction dates and prices:
  • 2026-03-02: 5,000 shares @ $14.68 — $73,400
  • 2026-03-03: 5,000 shares @ $14.69 — $73,450
• Total acquired: 10,000 shares for $146,850.
• Shares owned after transaction: Not disclosed in this filing.
• Footnote: The securities are owned by the "MSSB C/F David Nathan Miller IRA" — Mr. Miller is the owner of that IRA (F1).
• Filing timeliness: Form 4 filed 2026-03-03; transactions reported appear to be filed on a timely basis (no late-filing flag).

Context

• Transaction type: Open-market/private purchases (P) — direct acquisitions of shares.
• The purchases were made through an IRA vehicle noted in the footnote, meaning the reported holdings are held in Mr. Miller’s IRA account rather than a personal brokerage account.