STAHL MURRAY 4

What Happened
Murray Stahl, listed as a 10% owner of RENN Fund, Inc. (RCG), made a series of open-market/private purchases (transaction code P) on January 22, 2026. He acquired a total of 1,134 shares at $2.70 per share, for an aggregate cost of $3,061.80. These were purchases (not sales or option exercises).

Key Details

• Transaction date: 2026-01-22; filing date: 2026-01-23 (timely Form 4 filing).
• Price: $2.70 per share. Total shares bought: 1,134; total value: $3,061.80.
• Lot breakdown: 360, 18, 180, 180, 296, 18, and 82 shares (each at $2.70).
• Transaction code: P = Purchase (open market or private purchase).
• Ownership note: Footnote F1 states the reported figure does not include 142,334 shares held directly by Mr. Stahl. Footnote F2 notes he disclaims beneficial ownership of certain indirect accounts except to the extent of any pecuniary interest.
• Filing timeliness: Reported the next day — appears timely (not flagged late).

Context
As a 10% owner, Stahl is a significant insider but not necessarily an executive; purchases by large holders can be routine and do not by themselves indicate a specific intent. The Form 4 includes disclaimers about indirect accounts and excludes 142,334 directly held shares from the reported figure, so total beneficial ownership should be interpreted with those notes in mind.