[Form 4] abrdn Life Sciences Investors Insider Trading Activity

Rhea-AI Filing Summary

abrdn Life Sciences Investors (HQL) insiders reported an indirect sale of common stock. On 09/02/2025 Saba Capital Management, L.P. and Boaz Weinstein reported a disposition of 14,083 shares at $14.04 per share. After the sale, the reporting persons beneficially owned 2,968,623 shares indirectly. The Form 4 was filed by more than one reporting person and signed on 09/04/2025.

Positive

• Timely disclosure of insider transaction filed and signed within two days of the earliest transaction date
• Significant continuing ownership: reporting persons still hold 2,968,623 shares indirectly after the sale

Negative

• Insider sale of 14,083 shares on 09/02/2025 at $14.04 which may prompt investor questions
• Director and 10% owner executed the sale, which some investors may interpret as a negative signal absent further context

Insights

Financial Analyst

TL;DR: A routine insider sale of 14,083 HQL shares at $14.04; holdings remain substantial at about 2.97M shares.

The Form 4 discloses a single non-derivative sale on 09/02/2025 totaling 14,083 shares disposed at $14.04 each. The reporting entities remain significant indirect holders with 2,968,623 shares after the transaction. This disclosure is consistent with regular portfolio rebalancing or liquidity needs and does not on its face indicate a change in control or governance. Materiality to investors depends on context relative to total shares outstanding, which is not provided in this filing.

Corporate Governance Expert

TL;DR: Insider sale by a director and 10% owner was reported timely and shows continued significant indirect ownership.

The filing shows the sale was reported by both Saba Capital Management, L.P. and Boaz Weinstein and indicates their roles as director and 10% owner. The transaction was reported promptly and signed on 09/04/2025. While insiders selling shares can raise governance questions, this Form 4 shows the reporting persons still hold a large indirect stake, suggesting no immediate shift in voting control based solely on this transaction.

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
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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 NY 10174

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
abrdn Life Sciences Investors [ HQL ]

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)
09/02/2025

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

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

	Form filed by One Reporting Person
X	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	09/02/2025		S		14,083	D	$14.04	2,968,623	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Saba Capital Management, L.P.

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Weinstein Boaz

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

	Saba Capital Management, L.P. By: Zachary Gindes	09/04/2025
	Boaz Weinstein	09/04/2025
	** 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 insider transaction was reported for abrdn Life Sciences Investors (HQL)?

The Form 4 reports a sale of 14,083 common shares on 09/02/2025 at a price of $14.04 per share.

Who filed the Form 4 for HQL and what are their roles?

Saba Capital Management, L.P. and Boaz Weinstein filed the Form 4; both are listed as a director and a 10% owner.

How many HQL shares do the reporting persons own after the transaction?

After the reported sale the reporting persons beneficially owned 2,968,623 shares indirectly.

When was the Form 4 signed and filed?

The document shows signatures dated 09/04/2025 and the earliest transaction date reported is 09/02/2025.

Does this Form 4 report any derivative transactions for HQL?

No. Table II for derivative securities contains no reported transactions in this filing.