Form 4: Director Buys UTF Shares in Rights Offering

Ramona Lynn Rogers-Windsor, a Director of Cohen & Steers Infrastructure Fund Inc., acquired 150 shares of common stock at $23.56 per share through a rights offering.

Summary

• Ramona Lynn Rogers-Windsor, a Director of COHEN & STEERS INFRASTRUCTURE FUND INC (UTF), acquired 150 shares of common stock.
• The transaction occurred on October 16, 2025, at a price of $23.56 per share.
• The acquisition was made pursuant to a pro rata offering (Rights Offering) of transferable rights.
• Following this transaction, Ms. Rogers-Windsor directly beneficially owns 999.8943 shares of common stock.
• The Rights Offering allowed shareholders as of the September 22, 2025 record date to purchase one new common share for every five rights held.
• The subscription price for the common shares was fixed at $23.56, and the rights expired on October 16, 2025.
• An oversubscription privilege was also available to shareholders who fully exercised their rights.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive due to a director's participation in a rights offering, signaling confidence in the company's valuation and future prospects, despite the relatively small number of shares acquired.

Positives

• A company director, Ramona Lynn Rogers-Windsor, participated in the rights offering, indicating confidence in the company's valuation at the subscription price of $23.56 per share.
• The rights offering successfully raised capital for the Fund.

Negatives

• No specific negative points are detailed in this Form 4 filing, which primarily reports an insider transaction.

Risks

• No specific risks are mentioned within this Form 4 filing, which focuses on an insider's beneficial ownership change.

Future Outlook

This filing does not contain explicit forward-looking statements or guidance beyond the details of the completed rights offering and the insider's transaction.

Industry Context

This Form 4 filing reports an insider transaction related to a capital raise (rights offering) by an infrastructure fund. Such offerings are common mechanisms for funds to raise additional capital for investment or operational purposes, and insider participation can be viewed as a positive signal within the investment management industry.

Comparison to Industry Standards

• NA

Related Party Transactions

• The transaction involves a director of the issuer participating in a rights offering made available to all shareholders, which is a form of related party dealing in the context of capital raising.

Stakeholder Impact

• Shareholders who participated in the rights offering, like the reporting director, increased their proportional ownership or maintained their stake.
• Shareholders who did not participate in the rights offering would experience dilution of their ownership percentage.
• The capital raise provides additional funds to the company, potentially benefiting all shareholders through enhanced investment capacity or financial stability.

Key Dates

Recommendation

While a director's purchase indicates confidence, the acquisition of only 150 shares is a relatively small transaction and does not provide a strong enough signal to warrant a 'buy' recommendation. It reinforces a 'hold' position for existing investors, suggesting management sees value at the offering price, but doesn't present new, compelling information for a significant change in investment strategy.

Keywords

Cohen & Steers Infrastructure Fund, UTF, Form 4, Insider Trading, Director Purchase, Rights Offering, Equity Acquisition, Beneficial Ownership, Capital Raise