FIRST TRUST (VFLEX) President Michael D. Peck Buys 180,766 Shares

What Happened
Michael D. Peck, President of First Trust Alternative Opportunities Fund (ticker: VFLEX), reported a large open-market purchase of 180,766 shares on 2026-07-02 at $27.66 per share, totaling $4,999,988. The Form 4 also shows four very small dividend-reinvestment acquisitions (each 0.3 shares for ~$8) on 2026-04-02, 2026-05-06, 2026-06-03 and 2026-07-02. The primary activity was a purchase (a net buy), which is a direct acquisition of shares rather than a sale.

Key Details

• Primary transaction: 2026-07-02 open-market purchase of 180,766 shares at $27.66 — $4,999,988 total. (Code P = purchase)
• Dividend reinvestments: 0.3 shares on 2026-04-02 at $26.81; 0.3 on 2026-05-06 at $27.04; 0.3 on 2026-06-03 at $27.08; 0.3 on 2026-07-02 at $27.19 (each ~ $8).
• Shares owned after transaction: Not stated in the filing.
• Footnotes: F1 = dividend reinvestment; F2 = Mr. Peck disclaims beneficial ownership except to the extent of his pecuniary interest.
• Timeliness: Filing was marked late (transactionTimeliness = 'L'), so the Form 4 was not timely filed relative to the transaction date.

Context
Open-market purchases like this represent an insider acquisition of shares (a buy). The small, periodic 0.3-share entries are dividend reinvestment items and are routine. The F2 disclaimer indicates Mr. Peck disclaims beneficial ownership of certain securities except for his pecuniary interest; this is a common filing disclosure and does not change the fact of the reported purchases.