Gerber Charles 4

What Happened

• Charles Gerber, a trustee of Credit Suisse High Yield Credit Fund (DHY), acquired a total of 12,297 common shares on May 1, 2026. The purchases consisted of 5,333 shares ($9,333) and 6,964 shares ($12,187) at a subscription price of $1.75 per share, for a combined cost of $21,520. These were acquisitions through the fund’s transferable rights offering (a purchase, not an open-market trade).

Key Details

• Transaction date: 2026-05-01; Price: $1.75 per share for both lots.
• Total shares acquired: 12,297; total amount spent: $21,520.
• Shares owned after the transaction: Not disclosed in the Form 4 provided.
• Footnote F1: The transferable rights offering ran April 21–May 14, 2026; subscription price was $1.75, set at 86% of the fund’s NAV on the offering expiration date.
• Footnote F2: 6,964 shares represent an over-subscription allocation — the reporting person subscribed for additional shares beyond their initial rights allocation and received a prorated allotment.
• Filing timeliness: Form filed May 15, 2026 for a May 1 transaction; this appears to be later than the typical two-business-day Form 4 reporting window.

Context

• These purchases were made through a rights offering at a fixed, discounted subscription price (not open-market buys). Rights offerings often allow shareholders to buy at a set discount; over-subscription allocations mean the trustee requested extra shares and received a prorated allotment. As a purchase, the transaction may be of interest to investors but does not, by itself, indicate the trustee’s intent or expected fund performance.