Dakos Andrew 4

What Happened

• Andrew Dakos, President, CEO and a director of Special Opportunities Fund, Inc. (SPE), reported sales of common stock and a derivative position. He disposed of 6,594 total shares across transactions on June 2–3, 2026 for aggregate proceeds of roughly $95,117.
• Sales detail: 1,077 shares at $14.02 ($15,100), 5,184 shares at a weighted-average $14.11 ($73,146), 133 shares at $14.07 ($1,871), and a 200-share derivative sale at $25.00 ($5,000). All transactions are coded “S” (sale).

Key Details

• Transaction dates and prices:
  • 2026-06-02: 1,077 shares @ $14.02 — $15,100
  • 2026-06-02: 200 derivative shares @ $25.00 — $5,000
  • 2026-06-03: 5,184 shares @ $14.11 (weighted avg; see footnote) — $73,146
  • 2026-06-03: 133 shares @ $14.07 — $1,871
• Shares owned after the transactions: not specified in the provided extract.
• Notable footnotes:
  • F1: The $14.11 price is a weighted average; sales occurred across prices in the $14.04–$14.24 range (reporting person can furnish per-price details on request).
  • F2/F4: Some holdings were acquired via the issuer’s in‑kind stock distribution in January 2026.
  • F3: The reporting person disclaims beneficial ownership of securities held indirectly.
  • F5/F6: The reporting mentions preferred stock convertible into common at a current ratio of 1.7190 and redeemable if not converted by Jan 21, 2027 — relevant to derivative holdings.
• Timeliness: Form 4 was filed on 2026-06-04 for transactions on 2026-06-02 and 06-03; the filing appears timely.

Context

• These were sales (not purchases); insider sales can be routine (liquidity, tax, portfolio management) and do not by themselves indicate company performance.
• The 200-share transaction is listed as a derivative sale — the filing includes conversion/redemption details for related preferred shares; derivative transactions differ from straightforward open-market common-stock sales.
• No 10% owner, 10b5-1 plan, or late-filing flags are indicated in the provided data.