Nesbitt Stephen Lane 4

What Happened

• Stephen Lane Nesbitt, President/Interested Trustee and Director of Cliffwater Corporate Lending Fund (CCLFX), reported an open-market purchase of 40,487.805 shares at $10.25 per share on July 7, 2026, for a total transaction value of $415,000. This was a purchase (buy), which many investors view as a more informative insider action than routine sales.

Key Details

• Transaction date and type: 2026-07-07 — Open market purchase (code P).
• Price and amount: 40,487.805 shares at $10.25 each; total ≈ $415,000.
• Filing date: Form 4 filed 2026-07-09 (appears timely for a Section 16 reporting window).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Notable footnote: Shares are held by several family trusts (Nesbitt Family Trust U/A DTD 08/17/1995, BN 2021 Trust, JN 2021 Trust, JN and BN 2023 Trust, and The Terry/Anne Trust). Mr. Nesbitt disclaims beneficial ownership of those trust-held shares (per footnote F1).

Context

• This was a straightforward open-market purchase — no options exercise, award, or gift involved. The trust holdings and disclaimer mean the reported shares are held in family trusts rather than directly attributed as beneficial ownership by Mr. Nesbitt in the filing.