[Form 4] Calamos Long/Short Equity & Dynamic Income Trust Insider Trading Activity

Rhea-AI Filing Summary

Calamos Long/Short Equity & Dynamic Income Trust insider activity: President and Chairman John P. Calamos, a director of CPZ, reported multiple open-market sales of common stock on 12/17/2025 through the John P. Calamos 1985 Trust. The trades covered several blocks of shares at prices between $14.67 and $14.81 per share. Following these transactions, the trust’s direct reported position in CPZ common stock was reduced to 0 shares.

The report notes a balance of 13,517.16 shares as of 12/16/2025 for the trust before the sales. In addition to the trust, indirect beneficial holdings are shown as 7,194.24 shares held by Calamos Advisors LLC and 67,508 shares held by 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)
12/17/2025

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	12/17/2025		S		800	D	$14.67	12,717.16	I	By John P. Calamos 1985 Trust
Common Stock	12/17/2025		S		700	D	$14.68	12,017.16	I	By John P. Calamos 1985 Trust
Common Stock	12/17/2025		S		400	D	$14.7	11,617.16	I	By John P. Calamos 1985 Trust
Common Stock	12/17/2025		S		600	D	$14.71	11,017.16	I	By John P. Calamos 1985 Trust
Common Stock	12/17/2025		S		1,150.16	D	$14.72	9,867	I	By John P. Calamos 1985 Trust
Common Stock	12/17/2025		S		3,667	D	$14.73	6,200	I	By John P. Calamos 1985 Trust
Common Stock	12/17/2025		S		750	D	$14.74	5,450	I	By John P. Calamos 1985 Trust
Common Stock	12/17/2025		S		350	D	$14.75	5,100	I	By John P. Calamos 1985 Trust
Common Stock	12/17/2025		S		2,100	D	$14.76	3,000	I	By John P. Calamos 1985 Trust
Common Stock	12/17/2025		S		600	D	$14.77	2,400	I	By John P. Calamos 1985 Trust
Common Stock	12/17/2025		S		1,600	D	$14.79	800	I	By John P. Calamos 1985 Trust
Common Stock	12/17/2025		S		800	D	$14.81	0	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:

Please note that the balance as of 12/16/2025 was 13,517.16. The reporting person disclaims beneficial ownership of any such securities, except to the extent of their pecuniary interest therein.

	/s/ John P. Calamos	12/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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