Jafarnia Kamal 4

What Happened

• Jafarnia Kamal, a trustee of Bluerock High Income Institutional Credit Fund (IIMWX), was granted 56.21 Class I shares on 2026-03-31 at an implied price of $22.24 per share, a total value of $1,250. The Form 4 lists the transaction as code "J" (other acquisition/disposition) and describes the shares as compensation rather than an open-market purchase.

Key Details

• Transaction date: 2026-03-31; filing date: 2026-04-06 (filed 6 days after the transaction).
• Price: $22.24 per share; Shares acquired: 56.21; Total value: $1,250.
• Shares owned after transaction: not specified in the provided filing data.
• Footnote: F1 — these shares were granted under the trustees' compensation plan (each independent trustee is entitled to $5,000 of Class I shares per quarter, or $20,000 annually).
• Filing executed by an attorney-in-fact under a Limited Power of Attorney for Section 16(a) filings dated 7-19-22.
• Timing note: filing appears to have been submitted after the typical 2-business-day Form 4 reporting window.

Context

• This was a routine compensation grant to a trustee, not a market purchase or sale; such grants are common and generally reflect fee payment rather than insider trading intent.
• The dollar value is small ($1.25K), so this transaction is unlikely to materially affect holdings or signal a change in outlook.