Herzfeld Credit Income Fund (HERZ) portfolio manager buys 152 shares

Rhea-AI Filing Summary

Herzfeld Credit Income Fund, Inc portfolio manager Ryan M. Paylor bought common stock in two open-market purchases, acquiring 112 shares at $15.3156 per share on March 2, 2026 and 40 shares at $15.8096 per share on March 3, 2026. After these buys, he directly owns 6,081 shares.

Insider Trade Summary

Net Buyer: 152 shares ($2,348)

Net Buy 2 txns

Insider Paylor Ryan M

Role Insider

Bought 152 shs ($2K)

Type	Security	Shares	Price	Value
Purchase	Common stock	40	$15.8096	$632.38
Purchase	Common stock	112	$15.3156	$2K

Holdings After Transaction: Common stock — 6,081 shares (Direct)

Footnotes (1)

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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 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)
			Portfolio Manager

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common stock	03/02/2026		P		112	A	$15.3156	6,041	D
Common stock	03/03/2026		P		40	A	$15.8096	6,081	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	03/04/2026
	** 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.

FAQ

What did HERZ portfolio manager Ryan M. Paylor report in this Form 4?

Ryan M. Paylor reported buying HERZ common stock in the open market. He acquired 112 shares at $15.3156 per share and 40 shares at $15.8096, reflecting personal investment activity and increasing his directly held stake in the fund.

How many HERZ shares did Ryan M. Paylor buy and at what prices?

He bought a total of 152 HERZ common shares. The purchases were 112 shares at $15.3156 per share on one day and 40 shares at $15.8096 per share on the next, both recorded as open-market transactions.

What is Ryan M. Paylor’s HERZ share ownership after these transactions?

After these reported purchases, Ryan M. Paylor directly owns 6,081 HERZ common shares. This figure reflects his holdings following the acquisition of 152 additional shares through two open-market transactions described in the Form 4 filing.

Were the HERZ transactions by Ryan M. Paylor buys or sells?

Both transactions reported by Ryan M. Paylor were buys. The Form 4 shows transaction code “P” and describes them as open-market purchases, with no sales reported, resulting in a net increase of 152 HERZ common shares in his direct ownership.

What role does Ryan M. Paylor have at Herzfeld Credit Income Fund (HERZ)?

Ryan M. Paylor is identified as a portfolio manager at Herzfeld Credit Income Fund. He is not listed as a director, officer, or 10% owner in the filing, but his trades are reported under insider transaction rules for transparency to investors.