Was Fiona Flannery’s GF share acquisition a direct or indirect holding?

The Form 4 shows Fiona Flannery’s holdings in New Germany Fund Inc. as directly owned. The 9.48 shares acquired through dividend reinvestment and the resulting total of 881.24 shares are all reported under direct ownership, with no indirect ownership entity disclosed.

Fiona Flannery adds GF shares via reinvestment

New Germany Fund Inc. director Fiona Flannery reported a small increase in her holdings through a routine dividend reinvestment.

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Rhea-AI Filing Summary

New Germany Fund Inc. director Fiona Flannery reported a small increase in her holdings through a routine dividend reinvestment. On 01/30/2026, she acquired 9.48 shares of common stock at $11.94 per share under transaction code J, which typically indicates a non-open-market transaction such as a dividend reinvestment plan.

Following this transaction, Flannery beneficially owned 881.24 shares of New Germany Fund Inc. common stock, held directly. The filing reflects normal portfolio maintenance activity rather than a discretionary open-market trade.

Insider Trade Summary

Other: 9.48 shares

Other 1 txn

Insider Flannery Fiona

Role Director

Type	Security	Shares	Price	Value
Other	Common Stock	9.48	$11.94	$113.19

Holdings After Transaction: Common Stock — 881.24 shares (Direct)

FAQ

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What insider transaction did Fiona Flannery report for GF?

Fiona Flannery reported acquiring 9.48 shares of New Germany Fund Inc. common stock via a dividend reinvestment transaction. The shares were credited on January 30, 2026 at a price of $11.94 per share, increasing her directly held position modestly.

How many GF shares does Fiona Flannery own after this transaction?

After the reported dividend reinvestment, Fiona Flannery beneficially owns 881.24 shares of New Germany Fund Inc. common stock. These shares are reported as held directly, reflecting her updated stake following the January 30, 2026 transaction.

What does transaction code J mean in Fiona Flannery’s GF Form 4?

Transaction code J on Fiona Flannery’s Form 4 indicates a non-open-market acquisition, here tied to dividend reinvestment. The filing notes that the 9.48 GF shares were acquired through dividend reinvestment rather than a traditional open-market buy or sell order.

At what price were Fiona Flannery’s new GF shares recorded?

The 9.48 New Germany Fund Inc. shares attributed to Fiona Flannery were recorded at $11.94 per share. This price is used for the dividend reinvestment transaction dated January 30, 2026, as disclosed in the Form 4 filing’s non-derivative securities table.

Does Fiona Flannery’s Form 4 indicate any derivative securities for GF?

The filing’s derivative securities table shows no reported positions or transactions for derivative instruments tied to New Germany Fund Inc. Only non-derivative common stock acquired via dividend reinvestment is disclosed, with no options, warrants, or convertible securities listed.

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Accepted by SEC EDGAR 02/02/2026 - 05:11 PM EST

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^*

Flannery Fiona

(Last)

(First)

(Middle)

C/O MACI JOPLIN, DWS

5201 GATE PARKWAY

(Street)

JACKSONVILLE

32256

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
NEW GERMANY FUND INC [ GF ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	01/30/2026		J		9.48	A	$11.94	881.24	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

Remarks:

Shares acquired through dividend reinvestment.

	Maci Joplin, Attorney-in-Fact	02/02/2026
	** 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.

Source: View Original Filing on SEC EDGAR