4/A: Director's Stock Acquisition from Herzfeld Fund Distribution

Herzfeld Credit Income Fund Director Kay W. Tatum acquired 1,078 shares of common stock as part of a December 2025 distribution, increasing her beneficial ownership to 6,387 shares.

Summary

• Kay W. Tatum, a Director of Herzfeld Credit Income Fund, Inc. (HERZ), acquired 1,078 shares of common stock on December 30, 2025.
• The acquisition was part of a distribution paid by the Fund, which amounted to $0.6867 per share owned by stockholders as of the payment date.
• The distribution was paid in a combination of cash and shares of common stock, with the total cash distributed limited to 20% of the total distribution.
• Approximately 80% of the distribution was paid in shares of the Fund's common stock.
• The price per share used to calculate the number of shares issued was $2.5799, determined by the volume-weighted average price on December 12, 15, and 16, 2025.
• Following this transaction, Ms. Tatum beneficially owns 6,387 shares of Herzfeld Credit Income Fund, Inc. common stock.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as a director increased her beneficial ownership, indicating continued alignment with shareholder interests, even though it was part of a routine distribution rather than a discretionary purchase.

Positives

• A Director, Kay W. Tatum, increased her beneficial ownership in the company by acquiring 1,078 shares, aligning her interests further with shareholders.

Future Outlook

This filing, a Form 4/A, reports an insider transaction and does not contain forward-looking statements or guidance regarding the company's future performance.

Management Comments

• The filing details a transaction by Kay W. Tatum, a Director of Herzfeld Credit Income Fund, Inc., involving the acquisition of common stock through a fund distribution.

Industry Context

This announcement is an insider transaction report, reflecting a director's participation in a routine fund distribution. It does not directly relate to broader industry trends or competitive positioning but indicates continued insider ownership in the fund.

Related Party Transactions

• Kay W. Tatum, a Director, participated in a standard fund distribution paid to all stockholders, receiving shares of common stock.

Stakeholder Impact

• Shareholders: Increased director ownership can be viewed positively as it aligns management's interests with those of other shareholders.

Key Dates

Recommendation

The filing details a director's acquisition of shares through a routine fund distribution. While an increase in insider ownership is generally a positive signal of alignment, this was not a discretionary open-market purchase. It does not provide new fundamental information to warrant a change in investment recommendation, thus a 'hold' stance is maintained.

Keywords

Herzfeld Credit Income Fund, HERZ, Kay W. Tatum, Form 4, insider transaction, stock acquisition, director, beneficial ownership, distribution