Herzfeld Credit Income (NYSE: HERZ) insider receives 313,441 shares in stock distribution

Rhea-AI Filing Summary

Herzfeld Credit Income Fund, Inc. reported that Chairman of the Advisor Thomas J. Herzfeld received additional common shares through a fund distribution. On December 30, 2025, the fund paid a distribution of $0.6867 per share to stockholders, which could be taken in cash or common stock, with total cash for all stockholders capped at 20% of the total payout.

Approximately 80% of this December 2025 distribution was paid in shares of common stock. The stock portion was valued using a price of $2.5799 per share, based on the volume-weighted average trading price on December 12, 15 and 16, 2025. In connection with this distribution, Mr. Herzfeld received 313,441 shares, bringing his directly held beneficial ownership to 1,856,241 common shares of the fund.

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

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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^*

HERZFELD THOMAS J

(Last) (First) (Middle)

HERZFELD CREDIT INCOME FUND, INC.

119 WASHINGTON AVENUE, SUITE 504

(Street)

MIAMI BEACH FL 33139

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Herzfeld Credit Income Fund, Inc [ HERZ ]

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

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Chairman of the Advisor

3. Date of Earliest Transaction (Month/Day/Year)
12/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
01/02/2026

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

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

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	12/30/2025		D(1)(2)		313,441	A	$2.5799	1,856,241	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. On December 30, 2025, the Fund paid a distribution, in cash and shares of common stock, of $0.6867 per share owned by each stockholder as of the payment date of December 30, 2025 (the "December 2025 Distribution"). The December 2025 Distribution was paid in cash or shares of the Fund's common stock at the election of stockholders with the total amount of cash distributed to all stockholders limited to 20% of the total distribution to be paid, excluding any cash paid for fractional shares.

2. The remainder of the December 2025 Distribution (approx. 80%) was paid in the form of shares of the Fund's common stock. The exact distribution of cash and stock to any given stockholder was dependent upon their election as well as elections of other stockholders, subject to the pro-rata limitation. The price per share used to calculate the number of shares to be issued in lieu of cash was $2.5799, which was determined using the volume weighted average price per share of the Fund on December 12, 15 and 16, 2025. Mr. T. Herzfeld received 313,441 shares of common stock of the Fund in connection with the December 2025 Distribution.

	/s/ Thomas J. Herzfeld	01/14/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did HERZ report on this Form 4/A?

The filing shows that Chairman of the Advisor Thomas J. Herzfeld received 313,441 shares of Herzfeld Credit Income Fund, Inc. common stock as part of a fund distribution.

How was the December 2025 distribution for Herzfeld Credit Income Fund (HERZ) structured?

On December 30, 2025, the fund paid a distribution of $0.6867 per share, payable in cash or common stock at each stockholder’s election, with total cash for all stockholders limited to 20% of the total distribution.

What portion of HERZ’s December 2025 distribution was paid in stock?

Approximately 80% of the December 2025 distribution was paid in the form of shares of Herzfeld Credit Income Fund, Inc. common stock, with the remainder in cash subject to an overall cash cap.

What price per share was used to issue HERZ stock for the distribution?

The number of shares issued in lieu of cash was calculated using a price of $2.5799 per share, determined from the volume weighted average price on December 12, 15 and 16, 2025.

How many HERZ shares does Thomas J. Herzfeld beneficially own after this transaction?

Following receipt of the distribution shares, Thomas J. Herzfeld beneficially owns 1,856,241 shares of Herzfeld Credit Income Fund, Inc. common stock held directly.

Was the HERZ December 2025 distribution paid entirely in cash?

No. The December 2025 distribution was payable in cash or shares of common stock at stockholders’ election, with total cash limited to 20% of the aggregate distribution and the balance paid in stock.