Horizon CEO granted 93,527 shares in merger

Horizon Technology Finance Corp director and Chief Executive Officer Michael Balkin reported an acquisition of common stock tied to the completion of a merger.

Accepted by SEC EDGAR 04/14/2026 - 07:21 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Horizon Technology Finance Corp director and Chief Executive Officer Michael Balkin reported an acquisition of common stock tied to the completion of a merger. He received 93,527 shares of Horizon common stock at no cash cost, described as a grant or award acquisition.

Following this transaction, Balkin directly holds 103,527 shares of Horizon common stock. In addition, he has an indirect holding of 20,000 shares through a revocable trust for which he serves as trustee.

According to the merger agreement, each share of Monroe Capital Corporation common stock was converted into the right to receive 0.9402 shares of Horizon common stock, based on a market price of $4.57 per Horizon share on the trading day before the merger closed.

Insider Trade Summary

Grant/Award: 93,527 shares

Grant/Award 1 txn

Insider Balkin Michael

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	93,527	$0.00	$0.00
Holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 103,527 shares (Direct); Common Stock — 20,000 shares (Indirect, By Self as Trustee for Michael P. Balkin Revocable Trust dated 11/1/93 as Amended)

Holdings Before and After: Common Stock, 10,000 to 103,527 shares (Direct)

Footnotes (1)

1. F1. Acquired upon the completion of, and pursuant to, the transactions contemplated by the Agreement and Plan of Merger, dated as of August 7, 2025, by and among Horizon Technology Finance Corporation ("HRZN"), a Delaware corporation, Monroe Capital Corporation ("MRCC"), a Maryland corporation, HMMS, Inc., a Maryland corporation, Monroe Capital BDC Advisors, LLC, a Delaware limited liability company, and Horizon Technology Finance Management LLC, a Delaware limited liability company (the "Merger Agreement"). Pursuant to the Merger Agreement, each share of MRCC common stock, par value $0.001 per share, was converted into the right to receive 0.9402 shares of HRZN common stock, par value $0.001 per share. The market price of HRZN common stock at the close of trading on April 13, 2026, the last trading day prior to closing of the merger, was $4.57.

Key Figures

Grant shares: 93,527 shares Direct holdings after: 103,527 shares Indirect trust holdings: 20,000 shares +2 more

5 metrics

Grant shares 93,527 shares Common stock grant/award acquisition on April 14, 2026

Direct holdings after 103,527 shares Total direct Horizon common stock after transaction

Indirect trust holdings 20,000 shares Held via Michael P. Balkin Revocable Trust

Exchange ratio 0.9402 shares Horizon shares per Monroe Capital common share in merger

Reference market price $4.57 per share Horizon stock closing price on April 13, 2026

Key Terms

Agreement and Plan of Merger, par value, revocable trust, common stock

4 terms

Agreement and Plan of Merger regulatory

"pursuant to, the transactions contemplated by the Agreement and Plan of Merger, dated as of August 7, 2025"

An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.

par value financial

"each share of MRCC common stock, par value $0.001 per share, was converted"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

revocable trust financial

"By Self as Trustee for Michael P. Balkin Revocable Trust dated 11/1/93 as Amended"

A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.

common stock financial

"Each share of MRCC common stock, par value $0.001 per share, was converted"

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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Horizon Technology Finance (HRZN) CEO Michael Balkin report on this Form 4?

Michael Balkin reported acquiring 93,527 shares of Horizon common stock as a grant or award related to a completed merger. After this transaction, he directly owns 103,527 shares and also has indirect holdings through a revocable trust.

How many Horizon (HRZN) shares does Michael Balkin hold after the reported transaction?

After the reported transaction, Michael Balkin directly holds 103,527 shares of Horizon common stock. He also indirectly holds an additional 20,000 shares through a revocable trust, increasing his overall equity exposure to the company via both direct and indirect ownership.

What was the nature of the Horizon (HRZN) shares acquired by Michael Balkin?

The 93,527 shares were classified as a grant, award, or other acquisition, recorded at a price of $0.00 per share. This indicates a non-cash equity award rather than an open-market purchase, connected to the completion of a merger transaction.

How is the Monroe Capital Corporation merger reflected in this Horizon (HRZN) Form 4?

The filing explains that each Monroe Capital Corporation share was converted into 0.9402 Horizon shares under a merger agreement. Balkin’s new Horizon holdings stem from this share conversion structure, which was applied upon closing of the merger between the two companies.

What reference price was used for Horizon (HRZN) stock in the merger-related share conversion?

The share conversion referenced a Horizon common stock market price of $4.57 per share at the close of trading on April 13, 2026. This was the last trading day before the merger closed and served as the pricing reference in the merger arrangement.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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^*

Balkin Michael

(Last) (First) (Middle)

312 FARMINGTON AVENUE

(Street)

FARMINGTON CONNECTICUT 06032

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Horizon Technology Finance Corp [ HRZN ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/14/2026

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	04/14/2026		A		93,527	A	(1)	103,527	D
Common Stock								20,000	I	By Self as Trustee for Michael P. Balkin Revocable Trust dated 11/1/93 as Amended

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. Acquired upon the completion of, and pursuant to, the transactions contemplated by the Agreement and Plan of Merger, dated as of August 7, 2025, by and among Horizon Technology Finance Corporation ("HRZN"), a Delaware corporation, Monroe Capital Corporation ("MRCC"), a Maryland corporation, HMMS, Inc., a Maryland corporation, Monroe Capital BDC Advisors, LLC, a Delaware limited liability company, and Horizon Technology Finance Management LLC, a Delaware limited liability company (the "Merger Agreement"). Pursuant to the Merger Agreement, each share of MRCC common stock, par value $0.001 per share, was converted into the right to receive 0.9402 shares of HRZN common stock, par value $0.001 per share. The market price of HRZN common stock at the close of trading on April 13, 2026, the last trading day prior to closing of the merger, was $4.57.

	/s/ Michael P. Balkin	04/14/2026
	** 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)