Form 4: Corebridge Financial Reports Changes in Beneficial Ownership of ClearBridge Energy Midstream Opportunity Fund Inc.

Corebridge Financial, Inc. reports changes in its beneficial ownership of ClearBridge Energy Midstream Opportunity Fund Inc. securities, including the redemption of Series I Mandatory Redeemable Preferred Stock.

Summary

• Corebridge Financial, Inc. has filed a Form 4 detailing changes in its beneficial ownership of ClearBridge Energy Midstream Opportunity Fund Inc. securities.
• The filing reports the redemption of Series I Mandatory Redeemable Preferred Stock (Series I MRPS) by the issuer.
• The Series I MRPS were redeemed at a price equal to the liquidation value of $100,000 plus accrued interest of $825.44 per share.
• Corebridge Financial's subsidiaries, including The United States Life Insurance Company in The City of New York (USL) and American General Life Insurance Company (AGLIC), directly hold securities of the Issuer.
• Corebridge Institutional Investments (U.S.), LLC (CIIUS) may be deemed to have beneficial ownership of additional securities held by a controlled subsidiary of AIG pursuant to an investment management agreement.
• Corebridge Financial disclaims beneficial ownership of securities held by the controlled subsidiary of AIG, except to the extent of its pecuniary interest therein.
• The filing also reports ownership of 4.66% Series H Senior Secured Notes due October 15, 2025.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions and holdings.

Industry Context

This filing reflects routine transactions and holdings disclosures required by Section 16(a) of the Securities Exchange Act of 1934 and Section 30(h) of the Investment Company Act of 1940, ensuring transparency in the ownership of publicly traded securities.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders and major shareholders, aligning with regulatory requirements for transparency in financial markets.
• The reported holdings and transactions are typical for large financial institutions managing diverse investment portfolios, similar to holdings disclosures by companies like BlackRock or Vanguard.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure of ClearBridge Energy Midstream Opportunity Fund Inc.

Key Dates