Form 4: Nuveen Floating Rate Income Fund Trustee Acquires Shares Through Rights Offering

Matthew Thornton III, a trustee of Nuveen Floating Rate Income Fund, acquired 5,800 shares of common stock through the exercise of subscription rights.

Summary

• On February 25, 2025, Matthew Thornton III, a trustee of Nuveen Floating Rate Income Fund, acquired 5,800 shares of common stock at a price of $8.2 per share.
• This acquisition was made through the exercise of subscription rights allocated to Thornton in a pro rata rights offering conducted by the issuer.
• Following the transaction, Thornton directly owns 34,800 shares of the fund's common stock.
• Thornton also disposed of 29,000 subscription rights with an exercise price of $8.2, which were exercisable between January 21, 2025, and February 19, 2025.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reflects a routine transaction related to a rights offering. It doesn't indicate any significant positive or negative outlook for the fund.

Positives

• The trustee's participation in the rights offering demonstrates confidence in the fund.

Industry Context

This filing is a routine disclosure related to insider transactions and provides insight into the actions of the fund's trustee.

Comparison to Industry Standards

• Comparable closed-end funds often see similar insider activity related to rights offerings or other corporate actions.
• It's common for trustees or officers to participate in such offerings to maintain their ownership stake or demonstrate alignment with shareholder interests.
• The scale of the transaction is relatively small, suggesting it's more about maintaining a position than making a significant investment statement.

Stakeholder Impact

• The transaction could have a minor positive impact on shareholders as it signals confidence from a trustee.

Key Dates