Herzfeld Credit Income Fund, Inc: portfolio manager Ryan M Paylor sold 490 shares

What happened

• The filing shows Ryan M Paylor, portfolio manager, disposed of 490 shares to the issuer (code D) at $18.20 per share on Oct 20, 2026, for $8,920.

Key details

• Transaction date and price: Oct 20, 2026 — disposition to issuer at $18.20 per share.
• Shares owned after the transaction: not stated in the filing.
• Footnote F1: the filing says the reported amount represents shares tendered in the fund's tender offer (Schedule TO filed Sep 17, 2026); the final proration factor for the tender offer is 6.99895%.
• Footnote F2: the filing says it includes shares acquired through the fund's dividend reinvestment plan in transactions exempt from Section 16 under Rule 16a-11.
• Filing date: Oct 22, 2026 (period of report Oct 20, 2026).

Why it may matter

• The filing shows a disposition to the issuer in connection with the fund's tender offer, not a market sale.
• This was not reported as an option exercise or a gift.
• A filing does not show why the insider traded or why the company acted.