Insider Disclosure: Reed Family Trust Acquires CFND Shares in August 2025

Rhea-AI Filing Summary

Insider transactions at C1 Fund Inc. (CFND): Director Reed Scott A. reported multiple transactions in August 2025 affecting common stock holdings. The filings show purchases of 30,500 shares on 08/08/2025 at $10.00, 12,000 shares on 08/18/2025 at $8.54, and 7,500 shares on 08/20/2025 at $8.23, each held indirectly via the Reed Family 2015 Trust. A transaction dated 08/22/2025 shows 10,000 shares with a reported price of $8.46 and an ownership entry of 10,000. The form is signed by Scott Reed on 09/08/2025.

Insights

Financial Analyst

TL;DR: Director made repeated small purchases in August, increasing indirect holdings; overall impact appears limited and routine.

The filings document incremental purchases totaling 50,000 shares across three dated entries and a fourth entry showing 10,000 on 08/22/2025. Transactions are recorded as indirect via the Reed Family 2015 Trust, suggesting these are not direct personal trades but trust activity. Without market-cap or outstanding share data, the materiality of these purchases cannot be assessed from this form alone.

Corporate Governance Expert

TL;DR: Director disclosures are timely and signed; reporting shows both acquisitions and a later entry that may reflect a disposition or reporting nuance.

The form identifies Reed Scott A. as a director and shows multiple purchase entries followed by an 08/22/2025 line that lists 10,000 shares with an ownership figure of 10,000, which differs from prior cumulative totals. This could indicate a disposition, transfer, or reporting format issue; the filing itself does not explain the discrepancy, so no conclusion beyond the reported figures is possible.

Insider Trade Summary

Net Buyer: 60,000 shares ($553,805)

Net Buy 4 txns

Insider Reed Scott A.

Role Director

Bought 60,000 shs ($554K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	10,000	$8.46	$85K
Purchase	Common Stock	7,500	$8.23	$62K
Purchase	Common Stock	12,000	$8.54	$102K
Purchase	Common Stock	30,500	$10.00	$305K

Holdings After Transaction: Common Stock — 10,000 shares (Direct); Common Stock — 50,000 shares (Indirect, WA Reed Family 2015 Trust)

Footnotes (1)

Form 4 Insider Transactions: What Each Field Means →

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^*

Reed Scott A.

(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		30,500	A	$10	30,500	I	WA Reed Family 2015 Trust
Common Stock	08/18/2025		P		12,000	A	$8.54	42,500	I	WA Reed Family 2015 Trust
Common Stock	08/20/2025		P		7,500	A	$8.23	50,000	I	WA Reed Family 2015 Trust
Common Stock	08/22/2025		P		10,000	A	$8.46	10,000	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/ Scott Reed	09/08/2025
	** 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 transactions did Reed Scott A. report for CFND?

The Form 4 reports purchases of 30,500 shares on 08/08/2025 at $10.00, 12,000 shares on 08/18/2025 at $8.54, 7,500 shares on 08/20/2025 at $8.23, and an entry for 10,000 shares on 08/22/2025 at $8.46.

How did Reed Scott A. hold the reported CFND shares?

The Form 4 lists the holdings as indirect (I), attributed to the Reed Family 2015 Trust.

Is there any disposition reported in the CFND Form 4?

The filing shows an entry on 08/22/2025 with an ownership figure of 10,000, which may reflect a disposition or reporting change; the form does not provide an explicit explanation.

Who signed the Form 4 for these CFND transactions?

The Form 4 is signed by /s/ Scott Reed with a signature date of 09/08/2025.

What is Reed Scott A.'s relationship to C1 Fund Inc. (CFND)?

The filer is identified as a Director of C1 Fund Inc.