4/A: Variant Alternative Fund Officer Sells Shares

Jerald Benjamin Hayes, an officer and investment adviser for Variant Alternative Income Fund, reported the sale of 856.3399 Institutional Class Shares.

Summary

• Jerald Benjamin Hayes, an officer and investment adviser of Variant Alternative Income Fund (NICHX), reported a transaction.
• On December 16, 2025, Hayes disposed of 856.3399 Institutional Class Shares.
• The shares were sold at a price of $26.83 per share.
• Following this transaction, Hayes beneficially owns 28,688.577 Institutional Class Shares.
• This filing is an amendment (Form 4/A) to an original filing dated December 18, 2025.

Sentiment

Score: 4

Explanation: The sale of shares by an officer, particularly an investment adviser, is generally viewed as a moderately negative signal by the market, suggesting a potential lack of confidence or a belief that the stock is fully valued. However, the amount sold is relatively small compared to the remaining holdings, preventing a lower score.

Negatives

• An officer and investment adviser, Jerald Benjamin Hayes, sold 856.3399 shares of the company's stock.
• Insider sales can sometimes be interpreted by the market as a lack of confidence in the company's future prospects.

Risks

• Potential negative market perception due to an insider sale.

Future Outlook

N/A. This filing reports a past insider transaction and does not contain forward-looking statements or guidance.

Industry Context

Insider transactions, such as sales by officers or directors, are closely watched by investors as they can signal management's perception of the company's valuation or future performance. While a single sale may not indicate a significant shift, a pattern of insider selling across multiple executives could suggest underlying concerns within the company or industry.

Related Party Transactions

• Jerald Benjamin Hayes, an officer and investment adviser, sold 856.3399 Institutional Class Shares of Variant Alternative Income Fund. This constitutes an insider transaction.

Stakeholder Impact

• Shareholders: May interpret the insider sale as a negative signal, potentially leading to decreased investor confidence or downward pressure on the stock price.

Key Dates

Recommendation

While an officer and investment adviser, Jerald Benjamin Hayes, sold a portion of their holdings, the amount represents a relatively small percentage of their total beneficial ownership. A seasoned investor would likely view this as a moderately negative signal, warranting close monitoring of future insider activity and company performance rather than an immediate 'sell' or 'strong sell' action. The stock should be held with increased vigilance.

Keywords

Variant Alternative Income Fund, NICHX, Form 4/A, Insider Sale, Jerald Benjamin Hayes, Officer Transaction, Investment Adviser, Equity Disposal