DOYLE PETER 4

What Happened
Peter Doyle, a Co-Portfolio Manager at RENN Fund, Inc. (RCG), made three open-market purchases totaling 400 shares between Feb 13 and Feb 20, 2026. The trades were: 100 shares at $2.80 ($280) on Feb 13; 100 shares at $2.71 ($271) on Feb 19; and 200 shares at $2.78 ($556) on Feb 20 — combined cost $1,107. These were outright purchases (transaction code P), which investors often view as more informative than routine sales, though the filing does not state Doyle’s motivation.

Key Details

• Transaction dates and prices:
  • 2026-02-13: 100 shares @ $2.80 = $280
  • 2026-02-19: 100 shares @ $2.71 = $271
  • 2026-02-20: 200 shares @ $2.78 = $556
• Total purchased: 400 shares for $1,107.
• Shares owned after transaction: Not specified in the provided filing.
• Notable footnotes/plans: No 10b5-1 plan, tax-withholding, or other footnotes reported in the supplied data.
• Filing timeliness: Form filed on 2026-02-23. Because the earliest trade was 2026-02-13, the filing was submitted 10 days later and may be late for the Feb 13 transaction, which can reduce timely transparency.

Context
These are small-dollar open-market buys by a portfolio manager (not a 10% owner or option exercise). Purchases like this can signal confidence but are modest in size here (~$1.1K total), so they should be weighed alongside other insider activity and company fundamentals.