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

Rhea-AI Filing Summary

Calamos Long/Short Equity & Dynamic Income Trust insider John P. Calamos Sr., who serves as President, Chairman and Director, reported multiple open-market sales of common stock. The transactions, coded "S", took place on 12/12/2025 and 12/15/2025 and were executed in several small blocks through the John P. Calamos 1985 Trust at prices around $14.55–$14.69 per share.

After these sales, the form shows indirect beneficial ownership of 38,817.16 common shares via the John P. Calamos 1985 Trust, 7,194.24 common shares via Calamos Advisors LLC, and 67,508 common shares via Calamos Family Partners, Inc. The reporting person states 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)
12/12/2025

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	12/12/2025		S		2,100	D	$14.64	71,417.16	I	By John P. Calamos 1985 Trust
Common Stock	12/12/2025		S		800	D	$14.69	70,617.16	I	By John P. Calamos 1985 Trust
Common Stock	12/12/2025		S		1,900	D	$14.65	68,717.16	I	By John P. Calamos 1985 Trust
Common Stock	12/12/2025		S		2,400	D	$14.6	66,317.16	I	By John P. Calamos 1985 Trust
Common Stock	12/12/2025		S		2,535	D	$14.63	63,782.16	I	By John P. Calamos 1985 Trust
Common Stock	12/12/2025		S		2,000	D	$14.62	61,782.16	I	By John P. Calamos 1985 Trust
Common Stock	12/12/2025		S		1,185	D	$14.56	60,597.16	I	By John P. Calamos 1985 Trust
Common Stock	12/12/2025		S		980	D	$14.55	59,617.16	I	By John P. Calamos 1985 Trust
Common Stock	12/12/2025		S		300	D	$14.57	59,317.16	I	By John P. Calamos 1985 Trust
Common Stock	12/12/2025		S		200	D	$14.68	59,117.16	I	By John P. Calamos 1985 Trust
Common Stock	12/12/2025		S		600	D	$14.61	58,817.16	I	By John P. Calamos 1985 Trust
Common Stock	12/15/2025		S		1,400	D	$14.64	57,417.16	I	By John P. Calamos 1985 Trust
Common Stock	12/15/2025		S		1,599	D	$14.63	55,818.16	I	By John P. Calamos 1985 Trust
Common Stock	12/15/2025		S		2,726	D	$14.62	53,092.16	I	By John P. Calamos 1985 Trust
Common Stock	12/15/2025		S		5,475	D	$14.61	47,617.16	I	By John P. Calamos 1985 Trust
Common Stock	12/15/2025		S		2,500	D	$14.6	45,117.16	I	By John P. Calamos 1985 Trust
Common Stock	12/15/2025		S		1,300	D	$14.59	43,817.16	I	By John P. Calamos 1985 Trust
Common Stock	12/15/2025		S		500	D	$14.58	43,317.16	I	By John P. Calamos 1985 Trust
Common Stock	12/15/2025		S		1,320	D	$14.57	41,997.16	I	By John P. Calamos 1985 Trust
Common Stock	12/15/2025		S		3,180	D	$14.56	38,817.16	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 Parters, 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.	12/16/2025
	** 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 trust Calamos Long/Short Equity & Dynamic Income Trust (CPZ) reported that insider John P. Calamos Sr. made multiple open-market sales of common stock, coded "S", executed indirectly through the John P. Calamos 1985 Trust.

On what dates and at what prices were CPZ shares sold?

The reported sales occurred on 12/12/2025 and 12/15/2025. The Form 4 lists per-share sale prices including $14.55, $14.56, $14.57, $14.61, $14.64, $14.68 and up to $14.69 per share.

How many CPZ shares does John P. Calamos Sr. indirectly own after these sales?

Following the reported transactions, the filing shows indirect beneficial ownership of 38,817.16 common shares through the John P. Calamos 1985 Trust, 7,194.24 common shares through Calamos Advisors LLC, and 67,508 common shares through Calamos Family Partners, Inc.

What is John P. Calamos Sr.’s role at Calamos Long/Short Equity & Dynamic Income Trust (CPZ)?

The Form 4 identifies John P. Calamos Sr. as a Director and an Officer of the trust, with the title President and Chairman.

Are the CPZ shares in this Form 4 held directly or indirectly?

The transactions reported in Table I involve indirect ownership, marked "I" in the form. Holdings are reported as being held by the John P. Calamos 1985 Trust, Calamos Advisors LLC, and Calamos Family Partners, Inc.

Does the reporting person claim full beneficial ownership of the CPZ shares?

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