Calamos Long/Short Equity & Dynamic Income Trust (CPZ) insider sells common shares

Rhea-AI Filing Summary

Calamos Long/Short Equity & Dynamic Income Trust director, president and chairman John P. Calamos Sr. reported multiple sales of the trust’s common stock on 12/16/2025 by the John P. Calamos 1985 Trust. Individual transactions ranged from 32 to 10,225 shares sold at prices between $14.60 and $14.82 per share.

After these sales, the John P. Calamos 1985 Trust held 13,817.16 shares of common stock, with additional indirect holdings of 7,194.24 shares through Calamos Advisors LLC and 67,508 shares through Calamos Family Partners, Inc. The reporting person states that they disclaim beneficial ownership of these securities except to the extent of their pecuniary interest.

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

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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^*

CALAMOS JOHN P SR

(Last) (First) (Middle)

2020 CALAMOS COURT

(Street)

NAPERVILLE IL 60563

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Calamos Long/Short Equity & Dynamic Income Trust [ CPZ ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/16/2025

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	12/16/2025		S		348	D	$14.6	38,469.16	I	By John P. Calamos 1985 Trust
Common Stock	12/16/2025		S		540	D	$14.62	37,929.16	I	By John P. Calamos 1985 Trust
Common Stock	12/16/2025		S		736	D	$14.63	37,193.16	I	By John P. Calamos 1985 Trust
Common Stock	12/16/2025		S		228	D	$14.65	36,965.16	I	By John P. Calamos 1985 Trust
Common Stock	12/16/2025		S		336	D	$14.66	36,629.16	I	By John P. Calamos 1985 Trust
Common Stock	12/16/2025		S		32	D	$14.68	36,597.16	I	By John P. Calamos 1985 Trust
Common Stock	12/16/2025		S		612	D	$14.69	35,985.16	I	By John P. Calamos 1985 Trust
Common Stock	12/16/2025		S		1,034	D	$14.7	34,951.16	I	By John P. Calamos 1985 Trust
Common Stock	12/16/2025		S		3,894	D	$14.71	31,057.16	I	By John P. Calamos 1985 Trust
Common Stock	12/16/2025		S		231	D	$14.72	30,826.16	I	By John P. Calamos 1985 Trust
Common Stock	12/16/2025		S		6,190	D	$14.73	24,636.16	I	By John P. Calamos 1985 Trust
Common Stock	12/16/2025		S		190	D	$14.74	24,446.16	I	By John P. Calamos 1985 Trust
Common Stock	12/16/2025		S		10,225	D	$14.75	14,221.16	I	By John P. Calamos 1985 Trust
Common Stock	12/16/2025		S		260	D	$14.76	13,961.16	I	By John P. Calamos 1985 Trust
Common Stock	12/16/2025		S		144	D	$14.82	13,817.16	I	By John P. Calamos 1985 Trust
Common Stock								7,194.24	I	By Calamos Advisors LLC
Common Stock								67,508	I	By Calamos Family Partners, Inc.

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:

Remarks:

The reporting person disclaims beneficial ownership of any such securities, except to the extent of their pecuniary interest therein.

	/s/ John P. Calamos Sr.	12/17/2025
	** 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 CPZ report in this Form 4?

The filing reports that John P. Calamos Sr., a director, president and chairman of Calamos Long/Short Equity & Dynamic Income Trust (CPZ), executed multiple sales of the trust’s common stock on 12/16/2025 through the John P. Calamos 1985 Trust.

How many CPZ shares were sold and at what prices?

The Form 4 lists several separate sales of CPZ common stock on 12/16/2025, with individual transaction sizes ranging from 32 to 10,225 shares. Reported sale prices range from $14.60 to $14.82 per share.

How many CPZ shares does the John P. Calamos 1985 Trust hold after these transactions?

Following the reported transactions on 12/16/2025, the John P. Calamos 1985 Trust is shown as indirectly holding 13,817.16 shares of CPZ common stock.

What other indirect CPZ holdings are reported for John P. Calamos Sr.?

In addition to the John P. Calamos 1985 Trust, the filing reports indirect ownership of 7,194.24 shares of CPZ common stock through Calamos Advisors LLC and 67,508 shares through Calamos Family Partners, Inc.

What is the relationship of the reporting person to Calamos Long/Short Equity & Dynamic Income Trust?

The reporting person, John P. Calamos Sr., is identified as a director, and as an officer with the title President and Chairman of Calamos Long/Short Equity & Dynamic Income Trust.

Does the insider claim full beneficial ownership of the reported CPZ shares?

No. The remarks state that the reporting person disclaims beneficial ownership of the reported securities, except to the extent of their pecuniary interest in them.