Form 4: PGIM Strategic Investments Transfers Shares of PGIM Credit Income Fund in Internal Restructuring

PGIM Strategic Investments, Inc., a subsidiary of Prudential Financial, Inc., transferred 4,179,820.55 Class Z common shares of beneficial interest to The Prudential Insurance Company of America as part of an internal restructuring.

Summary

• On August 1, 2024, PGIM Strategic Investments, Inc., an indirect wholly-owned subsidiary of Prudential Financial, Inc., transferred 4,179,820.55 Class Z common shares of beneficial interest in PGIM Credit Income Fund to The Prudential Insurance Company of America.
• The transfer was part of an internal restructuring and involved no consideration.
• The reporting person, PGIM Strategic Investments, Inc., previously held these shares directly.
• Prudential Financial, Inc. is also listed as a reporting person due to its indirect ownership of PGIM Strategic Investments, Inc.

Sentiment

Score: 5

Explanation: The document describes a routine internal restructuring, which is neither particularly positive nor negative from an investment perspective.

Industry Context

Internal restructurings are common within large financial institutions to optimize capital allocation and operational efficiency. This transaction reflects such an internal adjustment within Prudential Financial's subsidiaries.

Related Party Transactions

• The transfer of shares between PGIM Strategic Investments, Inc. and The Prudential Insurance Company of America, both subsidiaries of Prudential Financial, Inc., constitutes a related party transaction.

Stakeholder Impact

• The internal restructuring is unlikely to have a significant impact on external stakeholders such as shareholders, employees, customers, suppliers, or creditors.

Key Dates