Portfolio manager adds Herzfeld Credit Income Fund (HERZ) shares

Rhea-AI Filing Summary

Herzfeld Credit Income Fund, Inc. portfolio manager Ryan M. Paylor reported two open-market purchases of the company’s common stock. On April 15, 2026, he bought 390 shares at $16.0141 per share, and on March 27, 2026, he bought 96 shares at $15.50 per share.

After these transactions, Paylor directly owned 6,567 shares of common stock, indicating relatively small, incremental buying activity rather than a large position change.

Insider Trade Summary

Net Buyer: 486 shares ($7,733)

Net Buy 2 txns

Insider Paylor Ryan M

Role Insider

Bought 486 shs ($8K)

Type	Security	Shares	Price	Value
Purchase	Common stock	390	$16.0141	$6K
Purchase	Common stock	96	$15.50	$1K

Holdings After Transaction: Common stock — 6,567 shares (Direct)

Footnotes (1)

Key Figures

Shares bought on 2026-04-15: 390 shares at $16.0141 Shares bought on 2026-03-27: 96 shares at $15.50 Total shares after latest transaction: 6,567 shares +1 more

4 metrics

Shares bought on 2026-04-15 390 shares at $16.0141 Open-market purchase of common stock

Shares bought on 2026-03-27 96 shares at $15.50 Open-market purchase of common stock

Total shares after latest transaction 6,567 shares Direct ownership following April 15, 2026 purchase

Total net shares bought 486 shares Net-buy activity across reported transactions

Key Terms

open-market purchase, Common stock, Form 4, net-buy

4 terms

open-market purchase financial

"transaction_action: "open-market purchase" for both transactions"

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

Common stock financial

"security_title: "Common stock" for each reported transaction"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

net-buy financial

"transactionSummary shows netBuySellDirection: "net-buy""

Form 4 Insider Transactions: What Each Field Means →

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^*

Paylor Ryan M

(Last) (First) (Middle)

HERZFELD CREDIT INCOME FUND, INC.

119 WASHINGTON AVE., SUITE 504

(Street)

MIAMI BEACH FLORIDA 33139

(City) (State) (Zip)

UNITED STATES

(Country)

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)
			Portfolio Manager

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/27/2026

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	03/27/2026		P		96	A	$15.5	6,177	D
Common stock	04/15/2026		P		390	A	$16.0141	6,567	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:

	/s/ Ryan M. Paylor	04/17/2026
	** 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)

FAQ

What insider transactions did HERZ portfolio manager Ryan Paylor report?

Ryan M. Paylor reported two open-market purchases of Herzfeld Credit Income Fund common stock. He bought 390 shares at $16.0141 on April 15, 2026, and 96 shares at $15.50 on March 27, 2026, increasing his direct holdings.

How many HERZ shares does Ryan Paylor own after these purchases?

After the reported transactions, Ryan M. Paylor directly owns 6,567 shares of Herzfeld Credit Income Fund common stock. This figure reflects his position following the April 15, 2026 purchase and represents his total direct ownership reported in this filing.

Were the recent HERZ insider transactions open-market buys or another type?

Both transactions were reported as open-market purchases of Herzfeld Credit Income Fund common stock, coded as “P.” This indicates Ryan M. Paylor bought shares in regular market or private transactions, rather than through option exercises, grants, gifts, or tax-withholding events.

What prices did Ryan Paylor pay for HERZ shares in these Form 4 trades?

Ryan M. Paylor paid $16.0141 per share for 390 shares on April 15, 2026, and $15.50 per share for 96 shares on March 27, 2026. These disclosed prices show the actual per-share amounts for his recent open-market purchases.

Does the Form 4 for HERZ show any insider share sales by Ryan Paylor?

The Form 4 reports only net buying activity by Ryan M. Paylor, with two open-market purchases totaling 486 shares. There are no reported sales, option exercises, gifts, or tax-withholding dispositions in this filing, based on the transaction summary provided.