Fund reorganization converts Global Income shares into FAX for director Sell

Rhea-AI Filing Summary

ABRDN Asia-Pacific Income Fund director Moritz A. Sell reported a share conversion linked to a fund reorganization. On May 15, 2026, he received 176 common shares of the Acquiring Fund in exchange for 1,000 common shares of the abrdn Global Income Fund, Inc., based on each fund’s reported NAV and a 0.176821 conversion ratio. Following the transaction, he directly holds 1,145 common shares of ABRDN Asia-Pacific Income Fund, Inc.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider SELL MORITZ A

Role null

Type	Security	Shares	Price	Value
Other	Common Stock	176	$0.00	--

Holdings After Transaction: Common Stock — 1,145 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares received in reorganization: 176 shares Shares exchanged from Target Fund: 1,000 shares Post-transaction holdings: 1,145 shares +3 more

6 metrics

Shares received in reorganization 176 shares Common shares of ABRDN Asia-Pacific Income Fund received May 15, 2026

Shares exchanged from Target Fund 1,000 shares Common shares of abrdn Global Income Fund surrendered in reorganization

Post-transaction holdings 1,145 shares Common shares of ABRDN Asia-Pacific Income Fund held after transaction

Target Fund NAV per share $2.7423 NAV per share for abrdn Global Income Fund as of May 15, 2026

Acquiring Fund NAV per share $15.509 NAV per share for ABRDN Asia-Pacific Income Fund as of May 15, 2026

Conversion ratio 0.176821 Ratio for converting Target Fund common shares into Acquiring Fund shares

Key Terms

Reorganization, NAV, conversion ratio, common shareholders

4 terms

Reorganization financial

"Effective as of May 15, 2026, abrdn Global Income Fund, Inc. ... was reorganized into the abrdn Asia-Pacific Income Fund, Inc."

NAV financial

"As of May 15, 2026, the Target Fund reported a NAV per share of $2.7423 and the Acquiring Fund reported a NAV per share of $15.509."

Net asset value (NAV) is the total value of all the investments and assets in a fund or company, minus any debts or liabilities, divided by the number of shares or units outstanding. It represents the per-share worth, giving investors an idea of what each share is truly worth based on the underlying assets. Think of it like a company's total worth divided among its shares, helping investors assess whether a share is fairly priced.

conversion ratio financial

"The conversion ratio for the Target Fund's common shares was 0.176821."

The conversion ratio is the number of common shares an investor receives when a convertible security (like a bond or preferred share) or an exchangeable instrument is turned into ordinary stock. It matters because it tells investors how much ownership or dilution will occur — similar to knowing how many slices you get when you trade in a coupon — and directly affects the value you get from the convertible and the company’s future share count.

common shareholders financial

"In the Reorganization, common shareholders of the Target Fund received common shares of the Acquiring Fund..."

Form 4 Insider Transactions: What Each Field Means →

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^*

SELL MORITZ A

(Last) (First) (Middle)

C/O ABRDN

1900 MARKET STREET, SUITE 200

(Street)

PHILADELPHIA PENNSYLVANIA 19103

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ABRDN ASIA-PACIFIC INCOME FUND, INC. [ FAX ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/15/2026		J(1)		176	A	(1)	1,145	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. Effective as of May 15, 2026, abrdn Global Income Fund, Inc. (the "Target Fund") was reorganized into the abrdn Asia-Pacific Income Fund, Inc. (the "Acquiring Fund," and such reorganization, the "Reorganization"). In the Reorganization, common shareholders of the Target Fund received common shares of the Acquiring Fund having a value equal to the aggregate NAV of the Target Fund common shares surrendered as determined at the close of business on May 15, 2026, less the costs of the Reorganization (although cash was distributed for any fractional shares). As of May 15, 2026, the Target Fund reported a NAV per share of $2.7423 and the Acquiring Fund reported a NAV per share of $15.509. The conversion ratio for the Target Fund's common shares was 0.176821. In the Reorganization, the Reporting Person received 176 common shares of the Acquiring Fund in exchange for their 1,000 common shares of the Target Fund.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney

	/s/ Robert Stieger, by POA from Reporting Person	05/19/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did ABRDN Asia-Pacific (FAX) report for Moritz A. Sell?

Moritz A. Sell reported a share conversion related to a fund reorganization. He received 176 common shares of ABRDN Asia-Pacific Income Fund in exchange for 1,000 common shares of abrdn Global Income Fund, reflecting each fund’s reported NAV and a set conversion ratio.

Was the ABRDN Asia-Pacific (FAX) Form 4 a market buy or sell?

The Form 4 does not show an open-market buy or sell. It records an “other” transaction where 1,000 abrdn Global Income Fund shares were reorganized into 176 ABRDN Asia-Pacific Income Fund shares as part of a planned fund reorganization.

How many ABRDN Asia-Pacific (FAX) shares does Moritz A. Sell hold after the transaction?

After the reorganization transaction, Moritz A. Sell directly holds 1,145 common shares of ABRDN Asia-Pacific Income Fund, Inc. This total reflects the 176 shares received in the conversion plus any existing holdings reported in the filing.

What conversion ratio was used in the ABRDN fund reorganization affecting FAX?

The reorganization used a conversion ratio of 0.176821 for the Target Fund’s common shares. Each abrdn Global Income Fund share was converted into ABRDN Asia-Pacific Income Fund shares using this ratio, aligned with each fund’s reported NAV per share on May 15, 2026.

What NAV figures were used to convert abrdn Global Income Fund shares into FAX shares?

As of May 15, 2026, the abrdn Global Income Fund reported a NAV per share of $2.7423 and ABRDN Asia-Pacific Income Fund reported a NAV per share of $15.509. These values supported the 0.176821 conversion ratio in the reorganization.