[Form 4] Goldman Sachs BDC, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Insider purchase disclosed: Vivek Bantwal, listed as a Director and Co-Chief Executive Officer of Goldman Sachs BDC, Inc. (GSBD), reported acquiring 22,000 shares of the company's common stock on 09/12/2025. The transaction is coded "P" (purchase) with a reported weighted-average price of $11.3642 per share, representing purchases made at prices ranging from $11.345 to $11.385. Following the reported transaction, the filing shows 22,000 shares beneficially owned by the reporting person. No derivative securities were reported. The Form 4 was signed by an attorney-in-fact, Julien Yoo, on 09/15/2025.

Positive

• Senior executive purchased shares, indicating a direct increase in insider ownership
• Transaction fully disclosed with weighted-average price and price range footnote

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider purchase of 22,000 shares by a senior executive is a direct equity buy at ~$11.36, a straightforward ownership increase.

The filing documents a clear, non-derivative purchase by Vivek Bantwal on 09/12/2025 for a weighted-average price of $11.3642, with shares bought across a narrow price range. The position after the trade is 22,000 shares beneficially owned. For valuation context, the filing does not state total outstanding shares or percentage ownership, so the absolute size of the holding versus company capitalization cannot be determined from this document alone. No options, warrants, or other derivatives were reported.

Corporate Governance Expert

TL;DR: Report complies with Section 16 disclosure: purchase reported, signed by attorney-in-fact, and includes price-range footnote.

The Form 4 includes the required explanatory footnote clarifying the weighted-average price and the range of transaction prices, and it is executed by an attorney-in-fact on 09/15/2025. The filer is identified as both a Director and Co-Chief Executive Officer. The filing contains no indications of transactions under a 10b5-1 plan, nor any amendments or derivative positions. All information presented appears to be routine and procedurally complete within this filing.

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^*

Bantwal Vivek

(Last) (First) (Middle)

200 WEST STREET

(Street)

NEW YORK NY 10282

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Goldman Sachs BDC, Inc. [ GSBD ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Co-Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/12/2025

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.001 per share	09/12/2025		P		22,000	A	$11.3642(1)	22,000	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. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $11.345 to $11.385, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

	/s/ Julien Yoo, Attorney-in-fact	09/15/2025
	** 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.

FAQ

What did Vivek Bantwal report in the Form 4 for GSBD?

The Form 4 reports that Vivek Bantwal purchased 22,000 shares of GSBD common stock on 09/12/2025 at a weighted-average price of $11.3642 per share.

How many shares does Vivek Bantwal beneficially own after the reported transaction?

The filing shows 22,000 shares beneficially owned following the reported purchase.

Were any derivative securities reported in this Form 4 for GSBD?

No. The filing reports no derivative securities (no options, warrants, or convertible instruments) in Table II.

What price range did the insider purchases occur at according to the filing?

The explanatory footnote states purchases occurred at prices ranging from $11.345 to $11.385, with a weighted-average of $11.3642.

Who signed the Form 4 and when was it executed?

The Form 4 was signed by attorney-in-fact Julien Yoo on 09/15/2025.