[Form 4] C1 Fund Inc. Insider Trading Activity

Rhea-AI Filing Summary

Sara Wardell-Smith, a director of C1 Fund Inc. (CFND), purchased 30,000 shares of the issuer's common stock on 08/08/2025 at a price of $10.00 per share. Following the reported transaction she beneficially owns 30,000 shares in a direct ownership form. The filing reports the transaction on Form 4 signed by the reporting person.

Positive

• Director purchase disclosed: Sara Wardell-Smith acquired 30,000 common shares at $10.00 per share on 08/08/2025, reported on Form 4.
• Direct beneficial ownership: Post-transaction ownership is reported as 30,000 shares in a direct form, providing clear transparency.

Negative

• None.

Insights

Financial Analyst

TL;DR Insider purchase of 30,000 shares at $10 signals a routine director acquisition with limited disclosed material impact.

The Form 4 shows Director Sara Wardell-Smith acquired 30,000 common shares on 08/08/2025 at $10.00 per share and now beneficially owns 30,000 shares directly. This is a clear, disclosed insider purchase; the filing does not present additional financial metrics or indications of material scale versus company capitalization, so immediate market impact appears limited based on the form alone.

Corporate Governance Expert

TL;DR Properly disclosed director purchase; disclosure completeness is appropriate, but transaction size and materiality are not provided.

The Form 4 identifies the reporting person as a director and records a purchase (transaction code P) of 30,000 shares at $10.00, with ownership shown as direct. The document is signed by the reporting person, indicating adherence to reporting requirements. The filing contains no additional context on intent, 10b5-1 plans, or proportional ownership, so governance implications are limited to noting a disclosed insider purchase.

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
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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^*

Wardell-Smith Sara

(Last) (First) (Middle)

C/O C1 FUND INC.

228 HAMILTON AVENUE, THIRD FLOOR

(Street)

PALO ALTO CA 94301

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
C1 Fund Inc. [ CFND ]

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)
08/08/2025

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	08/08/2025		P		30,000	A	$10	30,000	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:

	/s/ Sara Wardell-Smith	08/11/2025
	** 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 insider transaction did CFND report on this Form 4?

The Form 4 reports that director Sara Wardell-Smith purchased 30,000 shares of C1 Fund Inc. common stock.

When and at what price were the CFND shares acquired?

The reported transaction date is 08/08/2025 and the purchase price is $10.00 per share.

How many CFND shares does the reporting person own after the transaction?

Following the transaction the reporting person beneficially owns 30,000 shares, held in direct form.

What is the reporting person’s relationship to CFND?

The reporting person, Sara Wardell-Smith, is identified as a Director of C1 Fund Inc.

Does the Form 4 indicate the transaction was made under a 10b5-1 trading plan?

The form does not indicate that the transaction was made pursuant to a 10b5-1 trading plan; no 10b5-1 checkbox is shown as checked in the provided content.