abrdn Emerging Markets ex-China Fund (AEF) director reports 1,500-share purchase

Rhea-AI Filing Summary

A director of abrdn Emerging Markets ex-China Fund, Inc. (AEF) reported buying additional shares of the fund. On 12/30/2025, the director purchased 1,500 shares of common stock in a single transaction at a price of $7.1989 per share, and now beneficially owns 1,500 shares directly after this trade. The filing notes this is a Form 4 report filed by one reporting person, reflecting a change in their personal holdings rather than a transaction by the fund itself.

Insider Trade Summary

Net Buyer: 1,500 shares

Net Buy 1 txn

Insider Clark Anthony S.

Role Director

Bought 1,500 shs ($11K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	1,500	$7.1989	$11K

Holdings After Transaction: Common Stock — 1,500 shares (Direct)

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 01/02/2026 - 10:27 AM Learn about SEC filing dates

FAQ

What insider transaction did AEF report in this Form 4 filing?

The filing reports that a director of abrdn Emerging Markets ex-China Fund, Inc. purchased 1,500 shares of common stock in a single transaction.

When did the AEF director buy the 1,500 shares?

The director bought the 1,500 common shares on 12/30/2025.

What price did the AEF director pay per share in this transaction?

The director paid $7.1989 per share for the common stock reported in the transaction.

How many AEF shares does the reporting person own after this transaction?

Following the reported purchase, the director beneficially owns 1,500 shares of abrdn Emerging Markets ex-China Fund, Inc., held directly.

What is the relationship of the reporting person to abrdn Emerging Markets ex-China Fund, Inc. (AEF)?

The reporting person is a director of abrdn Emerging Markets ex-China Fund, Inc., as indicated in the filing.

Is this AEF insider Form 4 filed by one or multiple reporting persons?

The document indicates that the Form 4 is filed by one reporting person, not a group.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Clark Anthony S.

(Last) (First) (Middle)

C/O ABRDN

1900 MARKET STREET, SUITE 200

(Street)

PHILADELPHIA PA 19103

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
abrdn Emerging Markets ex-China Fund, Inc. [ AEF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/30/2025		P		1,500	A	$7.1989	1,500	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	/s/ Robert Stieger, by POA from Reporting Person	01/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.