Miller Richard T 4

What Happened
Richard T. Miller, President and Director of TCW Specialty Lending LLC, recorded an acquisition on April 1, 2026: he received 250,000 limited liability company units valued at $20.00 each (total value $5,000,000). The transaction is reported under Form 4 code "J" (other acquisition/disposition) and resulted from an exchange offer — not an open-market purchase.

Key Details

• Transaction date and value: 2026-04-01 — 250,000 LLC units @ $20.00 each = $5,000,000.
• Form code: J (other acquisition/disposition — exchange).
• Shares/units owned after transaction: Not specified in the provided filing excerpt; check the full Form 4 for total holdings.
• Footnote: The 250,000 units were received upon settlement of an Exchange Offer by TCW Direct Lending VIII LLC; Miller tendered and exchanged 50,000 LLC units of TCW Direct Lending VIII LLC in that offer.
• Filing timeliness: Transaction reported on Form 4 filed 2026-04-03 for a 2026-04-01 transaction (filed within the typical two-business-day reporting window).

Context
This was an exchange of units via an issuer-sponsored Exchange Offer (conversion), not a market purchase or sale. Such exchange transactions often reflect corporate reorganizations or offer settlements and should be interpreted as an ownership change rather than a straightforward bullish/personal purchase signal. For exact post-transaction holdings or additional context, consult the complete Form 4 filing.