Fund reorganization converts ABRDN Global Income (FCO) shares into Asia-Pacific fund stake

Rhea-AI Filing Summary

ABRDN Global Income Fund, Inc. director Peter Gerald Malone reported an “other” transaction tied to a fund reorganization. Effective May 15, 2026, his 1,822 common shares of the Target Fund were exchanged for 322 common shares of the abrdn Asia-Pacific Income Fund, Inc., using a 0.176821 conversion ratio based on reported NAVs of $2.7423 and $15.509.

Insider Trade Summary

Net Seller: 1,822 shares

Net Sell 1 txn

Insider MALONE PETER GERALD

Role Director

Type	Security	Shares	Price	Value
Other	Common Stock	1,822	$0.00	$0.00

Holdings After Transaction: Common Stock — 0 shares (Direct)

Footnotes (1)

1. F1. 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 322 common shares of the Acquiring Fund in exchange for their 1,822 common shares of the Target Fund.

Key Figures

Target Fund shares converted: 1,822 shares Acquiring Fund shares received: 322 shares Target Fund NAV per share: $2.7423 +2 more

5 metrics

Target Fund shares converted 1,822 shares Common shares of ABRDN Global Income Fund exchanged in reorganization

Acquiring Fund shares received 322 shares Common shares of abrdn Asia-Pacific Income Fund received in exchange

Target Fund NAV per share $2.7423 Net asset value per share as of May 15, 2026

Acquiring Fund NAV per share $15.509 Net asset value per share as of May 15, 2026

Conversion ratio 0.176821 Ratio of Target Fund shares to Acquiring Fund shares in reorganization

Key Terms

Reorganization, NAV per share, conversion ratio

3 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 per share 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."

NAV per share is the value of a fund or company's assets minus its liabilities, divided by the number of shares outstanding — think of it as the price of one slice of a pie made from all the holdings. Investors use it to judge whether a share’s market price is fair: if the market price is lower than NAV per share, shares may be trading at a discount; if higher, at a premium.

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.

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

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 05/19/2026 - 12:15 PM Learn about SEC filing dates

FAQ

What did the FCO Form 4 filed by Peter Gerald Malone report?

The Form 4 shows an “other” transaction where 1,822 ABRDN Global Income Fund shares were exchanged for 322 abrdn Asia-Pacific Income Fund shares. This occurred as part of a reorganization effective May 15, 2026, rather than a typical open-market trade.

Was the FCO insider transaction a buy or sell of shares?

The transaction was not a standard buy or sell but an “other” acquisition or disposition related to a fund reorganization. Malone’s existing ABRDN Global Income Fund shares were converted into abrdn Asia-Pacific Income Fund shares using a set conversion ratio.

How many FCO shares did Peter Gerald Malone convert in the reorganization?

Malone converted 1,822 common shares of ABRDN Global Income Fund, Inc. into 322 common shares of abrdn Asia-Pacific Income Fund, Inc. The exchange was based on each fund’s net asset value per share as of May 15, 2026, and a stated conversion ratio.

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

The conversion ratio was 0.176821 Target Fund share to Acquiring Fund share. This means each ABRDN Global Income Fund share was exchanged for approximately 0.176821 abrdn Asia-Pacific Income Fund shares, derived from their respective net asset values as of May 15, 2026.

What net asset values were used to convert FCO shares in the reorganization?

The Target Fund reported a NAV of $2.7423 per share, while the Acquiring Fund reported a NAV of $15.509 per share, both as of May 15, 2026. These NAVs were used to determine the 0.176821 conversion ratio for exchanging shares.

Did Peter Gerald Malone receive cash in the FCO-related transaction?

The Form 4 lists a $0.0000 transaction price, indicating no cash consideration for the main share exchange. The footnote notes that cash was only distributed for any fractional shares created in the reorganization of the ABRDN funds.

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^*

MALONE PETER GERALD

(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 GLOBAL INCOME FUND, INC. [ FCO ]

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)		1,822	D	(1)	0	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 322 common shares of the Acquiring Fund in exchange for their 1,822 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)