Brogan Marguerite 4

What Happened

• Marguerite Brogan, a director of AB Commercial Real Estate Private Debt Fund, LLC, reported a purchase-type transaction on March 25, 2026. The Form 4 shows an acquisition entry of 0 units at $0.00 (reported as a P—purchase).
• A filing footnote explains the entry: the fund issued a capital call requiring Brogan to contribute $15,000 on or about April 1, 2026. The fund will issue limited liability company units in exchange, but the number of units to be issued is not yet determined; the Form 4 will be amended once the unit count is known.

Key Details

• Transaction date: March 25, 2026; Form 4 filed March 27, 2026 (appears timely).
• Reported transaction code: P (purchase/capital contribution); reported as 0 units @ $0.00 because unit count is pending.
• Cash contribution obligated: $15,000 due ~April 1, 2026.
• Units owned after transaction: unit count from this contribution unknown; filing notes ownership includes 169.658 Units from a DRIP (dividend reinvestment).
• Filing will be amended when the number of units issued for the $15,000 contribution is determined.

Context

• This is a capital contribution to a private fund (not an open-market stock purchase). Purchases can be a positive signal, but here the exact number of units is unknown, limiting how much the transaction reveals about insider conviction.
• No exercise, sale, gift, or tax-withholding mechanics are involved — simply an investor capital contribution by a director.