DHY trustee adds shares in rights offering
CREDIT SUISSE HIGH YIELD CREDIT FUND trustee Charles Gerber reported two “other” transactions in common shares linked to a transferable rights offering.
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Form Type
4/A
Rhea-AI Filing Summary
CREDIT SUISSE HIGH YIELD CREDIT FUND trustee Charles Gerber reported two “other” transactions in common shares linked to a transferable rights offering. One reflects 6,963 shares subscribed at $1.75 per share under an over-subscription privilege. Following these transactions, he directly holds 28,296 and 21,333 common shares in separate positions.
Insider Trade Summary
Other: 12,296 shares
Other
2 txns
Insider
Gerber Charles
Role
Insider
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | common shares | 5,333 | $1.75 | $9K |
| Other | common shares | 6,963 | $1.75 | $12K |
Holdings After Transaction:
common shares — 28,296 shares (Direct)
Footnotes (2)
- F1. The transferable rights offering commenced on April 21, 2026 and expired May 14, 2026 (the "Expiration Date"). The subscription price was $1.75 per share and was determined based upon a formula equal to 86% of the net asset value per common share at the close of trading on the NYSE American on the Expiration Date.
- F2. Represents 6,963 shares subscribed for by the Reporting Person pursuant to an over-subscription privilege under the rights offerings. Amended Form 4 is being filed to reflect the correct amount of shares issued in the over-subscription.
Key Figures
Over-subscription shares: 6,963 shares
Subscription price: $1.75 per share
Rights offering discount: 86% of NAV
+5 more
8 metrics
Over-subscription shares
6,963 shares
Subscribed by reporting person under over-subscription privilege
Subscription price
$1.75 per share
Rights offering subscription price
Rights offering discount
86% of NAV
Formula vs net asset value per common share on Expiration Date
Post-transaction holding 1
28,296 shares
Common shares directly owned after one transaction
Post-transaction holding 2
21,333 shares
Common shares directly owned after second transaction
Restructuring shares
12,296 shares
Total shares in transactions coded as restructuring (J)
Rights offering start
April 21, 2026
Commencement date of transferable rights offering
Rights offering expiration
May 14, 2026
Expiration Date used for pricing formula
Key Terms
transferable rights offering, over-subscription privilege, net asset value, Expiration Date, +2 more
6 terms
transferable rights offering financial
"The transferable rights offering commenced on April 21, 2026 and expired May 14, 2026"
A transferable rights offering is a company raising money by giving existing shareholders tradable tokens called “rights” that let them buy new shares at a set price. Think of it like a coupon that shareholders can either use to buy discounted stock, sell to someone else, or let expire; it matters to investors because exercising preserves ownership percentage while selling can provide cash, and the overall offering can dilute share value for those who do nothing.
over-subscription privilege financial
"Represents 6,963 shares subscribed for by the Reporting Person pursuant to an over-subscription privilege"
An over-subscription privilege is a feature of a share offering that lets existing investors request more shares than their initial entitlement, with any extra allocation given only if other investors do not take their full allotment. It matters because it gives shareholders a chance to increase their stake and avoid losing ownership percentage, much like ordering extra slices at a party in case others pass—however, receiving the extras is not guaranteed.
net asset value financial
"a formula equal to 86% of the net asset value per common share at the close of trading"
Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.
Expiration Date financial
"expired May 14, 2026 (the "Expiration Date")"
The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.
subscription price financial
"The subscription price was $1.75 per share"
Subscription price is the set amount an investor pays to buy newly issued shares, bonds or units when a company offers them directly, such as in a rights issue or subscription offering. It matters because it determines how much an investor’s ownership cost will be, affects potential gains or losses and influences dilution of existing shareholders—think of it as a pre-order price that helps decide whether joining the new issue is worthwhile.
rights offerings financial
"under the rights offerings. Amended Form 4 is being filed"
A rights offering is a way for a company to raise money by giving existing shareholders the option to buy additional shares, usually at a set price and in proportion to how many shares they already own. It matters to investors because exercising the rights preserves their ownership percentage and can be a chance to buy at a discount, while not participating can lead to dilution of their stake; these rights are often tradable like short-term coupons.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider activity did DHY trustee Charles Gerber report on this Form 4/A?
Charles Gerber reported two “other” transactions in DHY common shares on May 1, 2026. One transaction involved 6,963 shares subscribed through an over-subscription privilege in the fund’s rights offering at a price of $1.75 per share.
What was the subscription price in the DHY transferable rights offering?
The subscription price in the DHY rights offering was $1.75 per common share. This price was set using a formula equal to 86% of net asset value per share at the close of trading on the NYSE American on the offering’s Expiration Date.
When did the DHY transferable rights offering take place?
The DHY transferable rights offering commenced on April 21, 2026 and expired on May 14, 2026. The expiration date was also used to determine the subscription price formula based on the fund’s net asset value per common share.
Why was an amended Form 4 filed for DHY trustee Charles Gerber?
An amended Form 4 was filed to reflect the correct number of DHY shares issued under Gerber’s over-subscription privilege. It clarifies that 6,963 common shares were subscribed for in the rights offering, correcting the previously reported over-subscription amount.
What are Charles Gerber’s reported DHY holdings after these transactions?
After the reported transactions, one position shows 28,296 DHY common shares directly owned, and another shows 21,333 common shares directly owned. These figures come from the post-transaction share balances reported for the two non-derivative common share entries.
AI-generated analysis. How Rhea-AI works. Not financial advice.
