Principal Private Credit Fund: James Urbates (IC) Buys 4,534 Shares

What Happened
James Urbates, a member of the Investment Committee, reported a purchase of 4,534.72 shares of Principal Private Credit Fund on 2026-03-18. The transaction price was $10.37 per share, for a total acquisition value of approximately $47,025. This was a purchase (code P), which is typically viewed as a direct buy of shares rather than a sale or option exercise.

Key Details

• Transaction date: 2026-03-18; price: $10.37 per share; shares acquired: 4,534.72; total ≈ $47,025.
• Transaction type: Open market or private purchase (code P).
• Form 4 filing date: 2026-04-06 (reported late relative to the 2-business-day reporting requirement).
• Shares owned after the transaction: not disclosed in the filing.
• No footnotes (e.g., 10b5-1 plan, tax withholding) were provided in the reported transaction.

Context
Purchases by insiders can signal confidence in the company, but a single modest purchase (~$47k) should be weighed with other information. The late filing reduces short-term transparency and may merit attention, though it does not itself indicate the reason for the trade.