DPG Form 4: CEO Buys 1,200 Shares at $12.77

David D. Grumhaus Jr., President and CEO of Duff & Phelps Investment Management Co., reported an open-market purchase of 1,200 shares of Duff & Phelps Utility & Infrastructure Fund Inc. (DPG) on 08/25/2025 at $12.77 per share.

Rhea-AI Filing Summary

David D. Grumhaus Jr., President and CEO of Duff & Phelps Investment Management Co., reported an open-market purchase of 1,200 shares of Duff & Phelps Utility & Infrastructure Fund Inc. (DPG) on 08/25/2025 at $12.77 per share. After the purchase, he beneficially owned 11,612 shares directly. The filing notes 535 shares were acquired since his last Form 4 through a dividend reinvestment plan that complies with Rule 16a-11, with 912 shares held through that plan in total. The Form 4 was signed on 08/26/2025.

Positive

• Officer purchase disclosed: The filing shows the CEO increased direct holdings by acquiring 1,200 shares at $12.77, indicating insider participation.
• Dividend reinvestment disclosed: The report details 535 shares acquired via a compliant dividend reinvestment plan, with 912 shares held in the plan.

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider purchased 1,200 shares at $12.77, modestly increasing direct ownership to 11,612 shares.

The transaction is a straightforward open-market purchase that increases the reporting person's direct stake. The size of the purchase (1,200 shares) and resulting holding (11,612 shares) are small relative to typical institutional positions in listed funds, indicating a limited market impact. The disclosure that 535 shares were acquired via dividend reinvestment since the last filing provides additional context on incremental accumulation rather than a single large acquisition.

Corporate Governance Expert

TL;DR: A timely and complete Section 16 filing showing an officer's routine purchase and dividend reinvestment activity.

The Form 4 identifies the reporting person as President and CEO and properly discloses the transaction type, price, and post-transaction beneficial ownership. The inclusion of dividend reinvestment plan details demonstrates adherence to Rule 16 reporting requirements. No amendments or related-party arrangements are indicated in the filing text provided.

Insider Trade Summary

Net Buyer: 1,200 shares

Net Buy 1 txn

Insider Grumhaus David D Jr.

Role President and CEO

Bought 1,200 shs ($15K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	1,200	$12.77	$15K

Holdings After Transaction: Common Stock — 11,612 shares (Direct)

Footnotes (1)

1. F1. Includes 535 shares acquired by the reporting person since his last Form 4 filing through a dividend reinvestment plan meeting the requirements of Rule 16a-11 promulgated under the Securities Exchange Act of 1934. Total number of shares held through the plan is 912.

FAQ

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

What transaction did the Form 4 for DPG report?

The Form 4 reports an open-market purchase of 1,200 shares of DPG on 08/25/2025 at $12.77 per share.

Who filed the Form 4 for DPG and what is their role?

David D. Grumhaus Jr. filed the Form 4; he is identified as President and CEO of Duff & Phelps Investment Management Co.

How many shares does the reporting person beneficially own after the transaction?

After the purchase, the reporting person beneficially owns 11,612 shares directly.

Does the filing mention dividend reinvestment activity?

Yes. It states 535 shares were acquired since the last Form 4 via a dividend reinvestment plan and 912 shares are held through that plan.

When was the Form 4 signed?

The signature date on the Form 4 is 08/26/2025.

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

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Accepted by SEC EDGAR 08/26/2025 - 04:24 PM 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^*

Grumhaus David D Jr.

(Last) (First) (Middle)

DUFF & PHELPS INVESTMENT MANAGEMENT CO.

10 S. WACKER DR., 19TH FLOOR

(Street)

CHICAGO IL 60606

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Duff & Phelps Utility & Infrastructure Fund Inc. [ DPG ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/25/2025

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	08/25/2025		P		1,200	A	$12.77	11,612(1)	D

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. Includes 535 shares acquired by the reporting person since his last Form 4 filing through a dividend reinvestment plan meeting the requirements of Rule 16a-11 promulgated under the Securities Exchange Act of 1934. Total number of shares held through the plan is 912.

Remarks:

	/s/ David D. Grumhaus, Jr.	08/26/2025
	** 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.