GROSS MICHAEL S 4

What Happened

• Michael S. Gross — Co‑Chief Executive Officer, President and Chairman of SLR Investment Corp. (SLRC) — made open‑market purchases totaling 35,452 shares: 25,000 shares on 2026‑03‑13 at a weighted avg price of $13.91 (≈ $347,858) and 10,452 shares on 2026‑03‑16 at a weighted avg price of $13.90 (≈ $145,246), for combined cash purchases of about $493,104.
• The filing also reports activity in restricted stock units (RSUs) held through the SCP Plan: 354,511.3826 RSUs vested/settled on 2026‑03‑13 and were elected to be settled for cash (administrators elected cash settlement), 10,986.5698 RSUs expired without value, and new RSUs covering 466,378.4286 shares were granted to employees (vesting 50% in 2028 and 50% in 2029). Per the filing, the cash settlement did not result in new shares actually issued for purposes of share count.

Key Details

• Transaction dates and prices:
  • Mar 13, 2026: open‑market purchase 25,000 shares at weighted avg $13.91 (price range $13.86–$13.97).
  • Mar 16, 2026: open‑market purchase 10,452 shares at weighted avg $13.90 (price range $13.85–$13.90).
  • Mar 13, 2026: RSU settlement (354,511.3826 RSUs) settled in cash; 10,986.5698 RSUs expired without value; new RSU grant of 466,378.4286 shares to SCP Plan.
• Cash spent on purchases: ≈ $493,104 (combined).
• Shares beneficially owned after the reported transactions: 3,989,701 shares (per the filing; includes shares held in SCP Plan and related entities; see footnotes).
• Notable footnotes: administrators Gross and Spohler control the SCP Plan and elected cash settlement for vested RSUs (F2, F11, F12); cash settlement may be treated as a deemed acquisition for Section 16 purposes but did not change the reported total share count (F7). Several holdings are held via affiliated entities/trusts; Gross disclaims beneficial ownership beyond pecuniary interest (F3–F6).
• Filing timeliness: report filed 2026‑03‑17 for transactions dated 2026‑03‑13; filing appears timely (filed within the SEC’s reporting window).

Context

• RSU/derivative explanation: the RSU entries reflect plan settlements and new grants. The 354,511 RSUs were settled for cash (administrators chose cash instead of stock), so no new shares were issued to Gross personally; 10,986 RSUs expired worthless. New RSUs were granted to employees and will vest in installments in 2028 and 2029.
• What it may mean for investors: the open‑market purchases are direct insider buys (cash outlay ≈ $493k), which many retail investors view as a positive signal; RSU actions are largely administrative/plan‑level (cash settlement and new employee grants) and do not necessarily reflect a personal purchase or sale of company stock by Gross.