STAHL MURRAY 4

What Happened
Murray Stahl, a reported 10% owner of RENN Fund, Inc. (RCG), made multiple open-market purchases on 2026-03-10 totaling 1,134 shares at $2.93 per share (aggregate cost ≈ $3,322). The buys came in seven lots (360, 18, 180, 180, 296, 18 and 82 shares) and are reported with transaction code P (purchase). These were outright purchases (not option exercises or awards).

Key Details

• Transaction date and price: 2026-03-10, $2.93 per share (open-market purchases).
• Lots bought: 360, 18, 180, 180, 296, 18, 82 — total = 1,134 shares; total value ≈ $3,322.
• Shares owned after transaction: the filing adds 1,134 shares to Mr. Stahl’s holdings; the filing notes 153,854 shares are held directly by Mr. Stahl and are not included in certain indirect-account figures.
• Footnotes: F1 notes 153,854 shares held directly by Mr. Stahl are excluded from a reported figure; F2 disclaims beneficial ownership of certain indirect accounts except to the extent of any pecuniary interest.
• Timeliness: filing was submitted the next day (filed 2026-03-11 for trades on 2026-03-10), i.e., timely.

Context
Purchases by a 10% owner are insider transactions but differ from executive trades; they represent direct buying interest rather than option exercises or gifts. The aggregate dollar amount here is modest (~$3.3k), so while it’s a purchase (which investors often view as more informative than routine sales), the position size added is small relative to typical institutional stakes.