MetLife clients buy 290K CHY Series H preferred

CALAMOS CONVERTIBLE & HIGH INCOME FUND (CHY) reported that MetLife Investment Management, LLC, a ten percent owner, indirectly reallocated preferred holdings.

Rhea-AI Filing Summary

CALAMOS CONVERTIBLE & HIGH INCOME FUND (CHY) reported that MetLife Investment Management, LLC, a ten percent owner, indirectly reallocated preferred holdings. On 2026-08-26, entities managed by MetLife purchased a total of 290,000 Series H Mandatory Redeemable Preferred Shares at $25.00 per share. On 2026-08-24, 520,000 Series D Mandatory Redeemable Preferred Shares were disposed of in transactions coded as “other,” with footnotes clarifying the Series D shares were redeemed in full by the fund at $25.00 per share plus accrued and unpaid dividends. The securities are held directly by MetLife’s investment-management clients, and MetLife disclaims beneficial ownership except to the extent of its pecuniary interest.

Insider Trade Summary

Net Buyer: 290,000 shares

Net Buy 8 txns

Insider MetLife Investment Management, LLC

Role 10% Owner

Bought 290,000 shs ($7.25M)

Type	Security	Shares	Price	Value
Purchase	Series H Mandatory Redeemable Preferred Shares F2, F3	96,000	$25.00	$2.40M
Purchase	Series H Mandatory Redeemable Preferred Shares F2, F3	134,400	$25.00	$3.36M
Purchase	Series H Mandatory Redeemable Preferred Shares F2, F3	16,000	$25.00	$400K
Purchase	Series H Mandatory Redeemable Preferred Shares F2, F3	43,600	$25.00	$1.09M
Other	Series D Mandatory Redeemable Preferred Shares F1, F2, F3	288,000	$25.00	$7.20M
Other	Series D Mandatory Redeemable Preferred Shares F1, F2, F3	144,000	$25.00	$3.60M
Other	Series D Mandatory Redeemable Preferred Shares F1, F2, F3	44,000	$25.00	$1.10M
Other	Series D Mandatory Redeemable Preferred Shares F1, F2, F3	44,000	$25.00	$1.10M

Holdings After Transaction: Series D Mandatory Redeemable Preferred Shares — 0 shares (Indirect, See Footnotes); Series H Mandatory Redeemable Preferred Shares — 43,600 shares (Indirect, See Footnotes)

Footnotes (3)

1. F1. These Series D Mandatory Redeemable Preferred Shares were redeemed in full by the Issuer at their original purchase price of $25.00 per share, plus accrued and unpaid dividends, which dividends are exempt from Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), pursuant to Rule 16a-9 thereunder.
2. F2. These securities are held directly by clients for whom the Reporting Person serves as investment manager.
3. F3. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.

Key Figures

Series H shares purchased: 290,000 shares Purchase price per Series H share: $25.00 per share Series D shares redeemed: 520,000 shares +3 more

6 metrics

Series H shares purchased 290,000 shares Indirect purchases on 2026-08-26 by accounts managed by MetLife Investment Management

Purchase price per Series H share $25.00 per share Price for Series H Mandatory Redeemable Preferred Shares bought on 2026-08-26

Series D shares redeemed 520,000 shares Series D Mandatory Redeemable Preferred Shares redeemed on 2026-08-24

Redemption price per Series D share $25.00 per share Original purchase price used for full redemption of Series D shares, plus accrued and unpaid dividends

Net buy/sell shares 290,000 shares Net of reported buy and dispose transactions across all preferred series

Restructuring shares 520,000 shares Shares involved in transactions coded as other acquisition or disposition (Code J)

Key Terms

Mandatory Redeemable Preferred Shares, pecuniary interest, Rule 16a-9, Section 16 of the Exchange Act, +1 more

5 terms

Mandatory Redeemable Preferred Shares financial

"Series H Mandatory Redeemable Preferred Shares were purchased and Series D redeemed"

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.

pecuniary interest financial

"disclaims beneficial ownership ... except to the extent of its pecuniary interest"

Rule 16a-9 regulatory

"dividends are exempt from Section 16 ... pursuant to Rule 16a-9 thereunder"

Section 16 of the Exchange Act regulatory

"dividends are exempt from Section 16 of the Securities Exchange Act of 1934"

beneficial ownership financial

"The Reporting Person disclaims beneficial ownership of the securities reported herein"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

FAQ

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

What insider transactions did MetLife Investment Management report for CHY preferred shares?

MetLife Investment Management reported indirect purchases of 290,000 Series H preferred shares at $25.00 per share on 2026-08-26 and the indirect disposition of 520,000 Series D preferred shares on 2026-08-24, which the fund redeemed in full at $25.00 per share plus accrued dividends.

What type of CHY securities were involved in MetLife Investment Management’s Form 4?

The transactions involved Series H Mandatory Redeemable Preferred Shares and Series D Mandatory Redeemable Preferred Shares of CALAMOS CONVERTIBLE & HIGH INCOME FUND, with Series H purchased and Series D redeemed by the fund.

How many CHY Series H preferred shares did MetLife-related accounts buy and at what price?

Accounts managed by MetLife Investment Management bought a total of 290,000 Series H Mandatory Redeemable Preferred Shares of CHY on 2026-08-26 at a price of $25.00 per share in indirect open-market or private transactions.

What happened to the CHY Series D Mandatory Redeemable Preferred Shares reported on the Form 4?

The filing states that Series D Mandatory Redeemable Preferred Shares were redeemed in full by the fund at their original purchase price of $25.00 per share, plus accrued and unpaid dividends, which the footnote notes are exempt from Section 16 under Rule 16a-9.

Does MetLife Investment Management claim full beneficial ownership of the CHY preferred shares?

No. The filing explains the securities are held directly by clients for whom MetLife Investment Management serves as investment manager, and MetLife disclaims beneficial ownership except to the extent of its pecuniary interest in those securities.

Were the CHY insider transactions under a Rule 10b5-1 trading plan?

The document-level Rule 10b5-1 checkbox is not checked (aff_10b5_one is false), and the footnotes do not state that the transactions were executed pursuant to a Rule 10b5-1 trading plan.

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

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 08/26/2026 - 04:05 PM EDT Accepted by SEC EDGAR 08/26/2026 - 04:05 PM EDT 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^*

MetLife Investment Management, LLC

(Last) (First) (Middle)

ONE METLIFE WAY

(Street)

WHIPPANY NEW JERSEY 07981

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CALAMOS CONVERTIBLE & HIGH INCOME FUND [ CHY ]

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)
08/24/2026

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
Series D Mandatory Redeemable Preferred Shares	08/24/2026		J(1)		288,000	D	$25	0	I(2)(3)	See Footnotes(2)(3)
Series D Mandatory Redeemable Preferred Shares	08/24/2026		J(1)		144,000	D	$25	0	I(2)(3)	See Footnotes(2)(3)
Series D Mandatory Redeemable Preferred Shares	08/24/2026		J(1)		44,000	D	$25	0	I(2)(3)	See Footnotes(2)(3)
Series D Mandatory Redeemable Preferred Shares	08/24/2026		J(1)		44,000	D	$25	0	I(2)(3)	See Footnotes(2)(3)
Series H Mandatory Redeemable Preferred Shares	08/26/2026		P		96,000	A	$25	96,000	I(2)(3)	See Footnotes(2)(3)
Series H Mandatory Redeemable Preferred Shares	08/26/2026		P		134,400	A	$25	134,400	I(2)(3)	See Footnotes(2)(3)
Series H Mandatory Redeemable Preferred Shares	08/26/2026		P		16,000	A	$25	16,000	I(2)(3)	See Footnotes(2)(3)
Series H Mandatory Redeemable Preferred Shares	08/26/2026		P		43,600	A	$25	43,600	I(2)(3)	See Footnotes(2)(3)

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. These Series D Mandatory Redeemable Preferred Shares were redeemed in full by the Issuer at their original purchase price of $25.00 per share, plus accrued and unpaid dividends, which dividends are exempt from Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), pursuant to Rule 16a-9 thereunder.

2. These securities are held directly by clients for whom the Reporting Person serves as investment manager.

3. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.

	/s/ Israel Grafstein, Chief Compliance Officer of MetLife Investment Management, LLC	08/26/2026
	** 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)