New Germany Fund Inc. (GF) director reports December 2025 share purchases

Q: How many New Germany Fund Inc. (GF) shares were bought in the reported transactions?

The director-related account bought 12,966 shares on December 22, 2025 and 14,888 shares on December 23, 2025 .

Q: At what prices were the New Germany Fund Inc. (GF) shares purchased?

The reported purchases were made at $11.29 per share on December 22, 2025 and $11.38 per share on December 23, 2025 .

Q: Are the New Germany Fund Inc. (GF) shares held directly or indirectly by the insider?

The filing states that the shares are held with indirect beneficial ownership by the reporting person.

Q: What is the reporting person’s relationship to New Germany Fund Inc. (GF)?

The reporting person is identified as a director of New Germany Fund Inc.

Q: Was more than one reporting person involved in this New Germany Fund Inc. (GF) filing?

No. The form indicates it was filed by one reporting person .

Filing Impact

(Moderate)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

New Germany Fund Inc. reported insider share purchases by a director. A reporting person bought common stock on two consecutive days in late December 2025. On December 22, 2025, they purchased 12,966 shares at $11.29 per share, bringing indirect beneficial ownership to 2,179,453 shares. On December 23, 2025, they bought another 14,888 shares at $11.38 per share, increasing indirect beneficial ownership to 2,194,341 shares. The filing indicates these are indirect holdings and that the reporting person serves as a director of the fund.

Insider Trade Summary

Net Buyer: 27,854 shares ($315,812)

Net Buy 2 txns

Insider Saba Capital Management, L.P.

Role 10% Owner

Bought 27,854 shs ($316K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	14,888	$11.38	$169K
Purchase	Common Stock	12,966	$11.29	$146K

Holdings After Transaction: Common Stock — 2,194,341 shares (Indirect, -)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 12/29/2025 - 09:18 PM

FAQ

What insider activity did New Germany Fund Inc. (GF) disclose?

The company disclosed that a director indirectly purchased New Germany Fund Inc. common stock on two dates in December 2025, increasing their indirect beneficial ownership.

How many New Germany Fund Inc. (GF) shares were bought in the reported transactions?

The director-related account bought 12,966 shares on December 22, 2025 and 14,888 shares on December 23, 2025.

At what prices were the New Germany Fund Inc. (GF) shares purchased?

The reported purchases were made at $11.29 per share on December 22, 2025 and $11.38 per share on December 23, 2025.

What is the director’s beneficial ownership in New Germany Fund Inc. (GF) after these trades?

After the transactions, the reporting person had indirect beneficial ownership of 2,194,341 New Germany Fund Inc. common shares.

Are the New Germany Fund Inc. (GF) shares held directly or indirectly by the insider?

The filing states that the shares are held with indirect beneficial ownership by the reporting person.

What is the reporting person’s relationship to New Germany Fund Inc. (GF)?

The reporting person is identified as a director of New Germany Fund Inc.

Was more than one reporting person involved in this New Germany Fund Inc. (GF) filing?

No. The form indicates it was filed by one reporting person.

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^*

Saba Capital Management, L.P.

(Last)

(First)

(Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK

10174

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/22/2025

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)
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	12/22/2025		P		12,966	A	$11.29	2,179,453	I	-
Common Stock	12/23/2025		P		14,888	A	$11.38	2,194,341	I	-

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:

	Saba Capital Management, L.P. By: Zachary Gindes	12/29/2025
	Boaz Weinstein	12/29/2025
	** 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.

Source: View Original Filing on SEC EDGAR