Elk Insurance affiliates (NYSE: EIC) disclose 3.83M-share stake
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Eagle Point Income Co Inc. received an initial ownership report from entities associated with Jennifer Gordon and Anthony Michael Muscolino, who are ten percent owners. The filing shows 3,827,212 shares of Common Stock held indirectly through insurance subsidiaries now indirectly controlled by Elk Insurance Holdings.
The filing states that this status change on June 25, 2026 reflects a shift in control, not a new purchase or sale of Eagle Point Income shares by the reporting persons or Elk Insurance Holdings. It also notes that 7,556 shares were previously acquired via broker-administered dividend reinvestments. The reporting persons disclaim beneficial ownership of these securities except to the extent of any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Gordon Jennifer, Muscolino Anthony Michael
Role
10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 3,827,212 shares (Indirect, See footnote)
Footnotes (1)
- Subsequent to the Form 3 filed by Elk Insurance Holdings, LLC ("Elk Insurance Holdings") on September 29, 2025, an aggregate 7,556 shares of Common Stock of the Issuer were acquired through broker-administered reinvestments with terms similar to the Issuer's dividend reinvestment plan, which are reported on this Form 3 in addition to the securities reported on the Elk Insurance Holdings Form 3. The Reporting Persons are managing members of Elk Insurance Holdings. Effective as of June 25, 2026, the third managing member of Elk Insurance Holdings resigned. Therefore, as of June 25, 2026, the Reporting Persons may be deemed to have become the beneficial owners of Issuer securities beneficially owned by Elk Insurance Holdings. This filing is not a result of any purchase or sale of any Issuer securities by the Reporting Persons or Elk Insurance Holdings. These shares are owned directly by (i) Clarendon National Insurance Company, (ii) Enstar Holdings (US) LLC, (iii) Yosemite Insurance Company and (iv) Cavello Bay Reinsurance Limited ((i) through (iv), collectively, the "Holders"), each of which is a wholly-owned indirect subsidiary of Enstar Group Limited ("EGL"), which, as a result of a series of mergers that closed on July 2, 2025, is now indirectly controlled by Elk Insurance Holdings. The sole shareholder of EGL is Elk Bidco Limited. The sole owner of the ordinary shares of Elk Bidco Limited is Elk Parent Limited, which is wholly owned by Elk Intermediate Holdings, LLC, which is in turn wholly owned by Elk Topco, LLC ("Elk Topco"). Elk Insurance Holdings owns 100% of the voting non-economic interests in Elk Topco. (Continued from footnote 3) The Reporting Persons disclaim beneficial ownership over the reported securities herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, except to the extent of their pecuniary interest therein.
Key Figures
Indirect common shares held: 3,827,212 shares
Dividend reinvestment acquisitions: 7,556 shares
Ownership status date: June 25, 2026
3 metrics
Indirect common shares held
3,827,212 shares
Indirectly owned through insurance subsidiaries associated with Elk Insurance Holdings
Dividend reinvestment acquisitions
7,556 shares
Acquired through broker-administered reinvestments similar to dividend reinvestment plan
Ownership status date
June 25, 2026
Date from which reporting persons may be deemed beneficial owners
Key Terms
beneficial owners, dividend reinvestment plan, wholly-owned indirect subsidiary, pecuniary interest, +1 more
5 terms
beneficial owners financial
"the Reporting Persons may be deemed to have become the beneficial owners of Issuer securities"
Beneficial owners are the people or entities that actually enjoy the economic benefits and control of shares or other assets, even when legal title is held by someone else such as a broker, custodian or trustee. Investors pay attention because beneficial owners hold the real voting power, receive dividends and can influence strategy and takeover outcomes — like the driver of a car who uses and maintains it while the bank holds the title — so disclosure shows who truly controls and benefits.
dividend reinvestment plan financial
"acquired through broker-administered reinvestments with terms similar to the Issuer's dividend reinvestment plan"
A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.
wholly-owned indirect subsidiary financial
"each of which is a wholly-owned indirect subsidiary of Enstar Group Limited"
pecuniary interest financial
"disclaim beneficial ownership ... except to the extent of their pecuniary interest therein"
Section 16 of the Securities Exchange Act of 1934 regulatory
"for purposes of Section 16 of the Securities Exchange Act of 1934, as amended"
A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.
FAQ
What does the Eagle Point Income (EIC) Form 3 filed by Gordon and Muscolino report?
The Form 3 reports an indirect stake of 3,827,212 Eagle Point Income common shares held through insurance subsidiaries indirectly controlled by Elk Insurance Holdings, with Gordon and Muscolino identified as ten percent owners and managing members of Elk Insurance Holdings.
What is the role of Elk Insurance Holdings in the Eagle Point Income (EIC) ownership structure?
Elk Insurance Holdings indirectly controls Enstar Group Limited following mergers that closed on July 2, 2025, and owns all voting non-economic interests in Elk Topco. As managing members of Elk Insurance Holdings, the reporting persons may be deemed beneficial owners of the Eagle Point Income securities.