Paylor Ryan M 4

What Happened

Ryan M. Paylor, a portfolio manager at Herzfeld Credit Income Fund, bought a total of 486 shares in two open-market purchases: 96 shares on 2026-03-27 at $15.50 ($1,488) and 390 shares on 2026-04-15 at $16.01 (≈$6,245), for combined consideration of roughly $7,733. These were purchases (buying stock), which insiders’ purchases are often treated as a more informative signal than routine sales.

Key Details

• Transaction dates and prices:
  • 2026-03-27 — 96 shares @ $15.50 = $1,488
  • 2026-04-15 — 390 shares @ $16.01 ≈ $6,245
• Total shares purchased: 486; total spent ≈ $7,733.
• Shares owned after transaction: not specified in the filing.
• No 10b5-1 plan, tax-withholding, or other footnotes were indicated in the reported transactions.
• Filing date: 2026-04-17; the report covers trades on 2026-03-27 and 2026-04-15, so the filing date is later than the trade dates as reported.

Context

These were straight open-market purchases by a portfolio manager (not a 10% owner or executive-level officer). Purchases by insiders can signal confidence but are not proof of future performance; the dollar amount here (~$7.7k) is modest. Retail investors should treat this as one data point among many when evaluating the stock.