Thrivent redeems 360K Ares B, buys 240K E prefs

Ten percent owner Thrivent Financial for Lutherans shifted ARDC preferred holdings as Series B shares were redeemed and Series E shares were purchased at $25 per share.

Rhea-AI Filing Summary

Ares Dynamic Credit Allocation Fund, Inc. (ARDC) reported that ten percent owner Thrivent Financial for Lutherans reallocated its holdings in the fund’s mandatory redeemable preferred shares. On September 15, 2026, 360,000 Series B shares were disposed of via issuer redemption at $25.00 per share, reducing that series holding to zero. On September 14, 2026, Thrivent purchased 240,000 Series E shares at $25.00 per share and continued to hold 400,000 Series C and 160,000 Series D shares, all directly owned. No Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Net Buyer: 240,000 shares

Net Buy 4 txns

Insider THRIVENT FINANCIAL FOR LUTHERANS

Role 10% Owner

Bought 240,000 shs ($6.00M)

Type	Security	Shares	Price	Value
Other	Mandatory Redeemable Preferred Shares, Series B F1	360,000	$25.00	$9.00M
Purchase	Mandatory Redeemable Preferred Shares, Series E	240,000	$25.00	$6.00M
holding	Mandatory Redeemable Preferred Shares, Series C	--	--	--
holding	Mandatory Redeemable Preferred Shares, Series D	--	--	--

Holdings After Transaction: Mandatory Redeemable Preferred Shares, Series B — 0 shares (Direct); Mandatory Redeemable Preferred Shares, Series E — 240,000 shares (Direct); Mandatory Redeemable Preferred Shares, Series C — 400,000 shares (Direct); Mandatory Redeemable Preferred Shares, Series D — 160,000 shares (Direct)

Footnotes (1)

1. F1. The Series B Mandatory Redeemable Preferred Shares were redeemed by the issuer at a price equal to the principal amount of $25.00 per share.

Key Figures

Series B shares redeemed: 360,000 shares at $25.00 per share Series B holdings after redemption: 0 shares Series E shares purchased: 240,000 shares at $25.00 per share +4 more

7 metrics

Series B shares redeemed 360,000 shares at $25.00 per share Redeemed by issuer on September 15, 2026

Series B holdings after redemption 0 shares Position following September 15, 2026 redemption

Series E shares purchased 240,000 shares at $25.00 per share Open market or private purchase on September 14, 2026

Series E holdings after transaction 240,000 shares Directly owned after September 14, 2026 purchase

Series C preferred holdings 400,000 shares Directly owned as of September 14, 2026

Series D preferred holdings 160,000 shares Directly owned as of September 14, 2026

Rule 10b5-1 plan status No Rule 10b5-1 plan reported Document-level checkbox unchecked for these transactions

Key Terms

Mandatory Redeemable Preferred Shares, ten percent owner, redemption, Rule 10b5-1, +1 more

5 terms

Mandatory Redeemable Preferred Shares financial

"Mandatory Redeemable Preferred Shares, Series B"

A share that pays a fixed return and must be bought back by the issuer at a set time or upon a predetermined event, combining features of stock and a loan. It matters to investors because holders get priority on payments and a promised repayment date—like lending money with a scheduled payback—so these shares limit upside from company growth but reduce risk compared with ordinary shares and can affect a company’s future cash needs.

ten percent owner regulatory

"reporting that ten percent owner Thrivent Financial for Lutherans"

redemption financial

"Series B Mandatory Redeemable Preferred Shares were redeemed by the issuer"

Redemption is when an issuer or holder settles a financial instrument by paying it off or returning it for cash, such as a bond being paid at maturity or a preferred share bought back by the company. It matters to investors because redemption changes when and how they get their money back, can cut off future income from the investment, and affects the issuer’s cash needs—think of it like a loan being paid off early or a store refunding a returned purchase.

Rule 10b5-1 regulatory

"No Rule 10b5-1 trading plan is reported."

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

open market or private transaction financial

"Purchase in open market or private transaction"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did ARDC report for Thrivent Financial for Lutherans?

ARDC reported that Thrivent Financial for Lutherans had 360,000 Series B preferred shares redeemed on September 15, 2026, at $25.00 per share and bought 240,000 Series E preferred shares on September 14, 2026, at $25.00 per share.

How many ARDC Series B preferred shares does Thrivent hold after these transactions?

After the September 15, 2026 redemption, Thrivent Financial for Lutherans holds 0 ARDC Mandatory Redeemable Preferred Shares, Series B, as all 360,000 shares were redeemed by the issuer at $25.00 per share.

What is Thrivent’s current ARDC Series E preferred share position?

Following a purchase on September 14, 2026, Thrivent Financial for Lutherans directly holds 240,000 ARDC Mandatory Redeemable Preferred Shares, Series E, acquired at a price of $25.00 per share.

What other ARDC preferred series does Thrivent Financial for Lutherans hold?

Alongside Series E, Thrivent Financial for Lutherans reports direct holdings of 400,000 ARDC Mandatory Redeemable Preferred Shares, Series C, and 160,000 Series D, based on positions reported as of September 14, 2026.

Were the ARDC insider transactions made under a Rule 10b5-1 plan?

No. The filing indicates that the Rule 10b5-1 checkbox is not marked, and there is no footnote stating that the ARDC preferred share transactions were made pursuant to a Rule 10b5-1 trading plan.

How is the Series B ARDC preferred share transaction characterized?

The 360,000 ARDC Series B Mandatory Redeemable Preferred Shares were disposed of in an issuer redemption on September 15, 2026, at a price equal to the $25.00 per share principal amount, as described in the footnote.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/16/2026 - 11:36 AM Accepted by SEC EDGAR 09/16/2026 - 11:36 AM Learn about SEC filing dates

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^*

THRIVENT FINANCIAL FOR LUTHERANS

(Last) (First) (Middle)

901 MARQUETTE AVENUE

SUITE 2500

(Street)

MINNEAPOLIS MINNESOTA 55402-3211

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Ares Dynamic Credit Allocation Fund, Inc. [ ARDC ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/14/2026

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

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

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

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
Mandatory Redeemable Preferred Shares, Series B	09/15/2026		J(1)		360,000	D	$25	0	D
Mandatory Redeemable Preferred Shares, Series E	09/14/2026		P		240,000	A	$25	240,000	D
Mandatory Redeemable Preferred Shares, Series C								400,000	D
Mandatory Redeemable Preferred Shares, Series D								160,000	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:

1. The Series B Mandatory Redeemable Preferred Shares were redeemed by the issuer at a price equal to the principal amount of $25.00 per share.

	/s/ David S. Royal	09/16/2026
	** 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.
* Form 4: SEC 1474 (03-26)