[Form 4] Crescent Capital BDC, Inc. Common stock Insider Trading Activity

Rhea-AI Filing Summary

Raymond Barrios, a Managing Director and officer of Crescent Capital BDC, Inc. (CCAP), reported insider purchases on 08/25/2025. The filing shows two separate non-derivative acquisitions of common stock: 2,230 shares at $15.6316 and 1,015 shares at $15.62, both marked with transaction code P (pursuant to a written plan). After these transactions Barrios beneficially owned 19,177 shares directly. The report also notes 1,181 shares acquired through dividend reinvestment in 2025 that were not previously reported under Rule 16a-11. The Form 4 was signed by an attorney-in-fact on 08/26/2025.

Positive

• Insider purchases of 3,245 shares on 08/25/2025 indicating continued insider accumulation
• Disclosure of 1,181 dividend-reinvested shares in 2025 corrects prior non-reporting under Rule 16a-11

Negative

• None.

Insights

Financial Analyst

TL;DR: Officer purchased additional shares via a Rule 10b5-1 plan and dividend reinvestment, modestly increasing direct holdings.

The reported purchases on 08/25/2025 total 3,245 common shares at prices around $15.62, consistent with routine accumulation by an insider. Transaction code P indicates the trades were made pursuant to a written plan, which reduces timing risk concerns but limits informational content about intent. The inclusion of 1,181 dividend-reinvested shares clarifies prior under-reporting under Rule 16a-11. For investors, these trades are modest in size relative to typical institutional stakes and do not by themselves signal a material change in ownership or control.

Corporate Governance Expert

TL;DR: Form 4 shows compliant disclosures of purchases and dividend reinvestment; filings appear routine and properly executed by attorney-in-fact.

The filing identifies Raymond Barrios as a reporting officer and uses correct Section 16 reporting format. Purchases coded P suggest pre-established trading plan usage, which aligns with best practices for insiders to avoid allegations of opportunistic timing. The late reporting of dividend-reinvested shares is disclosed within the filing, addressing a prior omission. No transfers, dispositions, option exercises, or other governance concerns are disclosed here.

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^*

Barrios Raymond

(Last) (First) (Middle)

11100 SANTA MONICA BLVD.

SUITE 2000

(Street)

LOS ANGELES CA 90025

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Crescent Capital BDC, Inc. [ CCAP ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/25/2025

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	08/25/2025	08/25/2025	P		2,230	A	$15.6316	18,162(1)	D
Common Stock	08/25/2025	08/25/2025	P		1,015	A	$15.62	19,177	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. Includes 1,181 shares acquired through dividend reinvestment in 2025 and not previously reported pursuant to Rule 16a-11 under the Securites Act of 1934.

	/s/ George P. Hawley, as Attorney-in-fact	08/26/2025
	** 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.

FAQ

What transactions did Raymond Barrios report on Form 4 for CCAP?

He reported two purchases on 08/25/2025: 2,230 shares at $15.6316 and 1,015 shares at $15.62, both coded P.

How many CCAP shares does Raymond Barrios own after the reported transactions?

19,177 shares directly following the reported 08/25/2025 transactions.

What does transaction code P mean on this Form 4?

Code P indicates the transaction was made pursuant to a written plan, consistent with Rule 10b5-1 affirmative defense conditions.

Were any dividend-related shares disclosed in the filing?

Yes: the filing states 1,181 shares were acquired through dividend reinvestment in 2025 and not previously reported under Rule 16a-11.

Who signed the Form 4 filing for Raymond Barrios?

The form was signed by George P. Hawley as attorney-in-fact on 08/26/2025.