IAF Insider Purchase — Peter Malone Acquires 1,500 Shares

Rhea-AI Filing Summary

Peter Gerald Malone, a director of ABRDN Australia Equity Fund, Inc. (IAF), reported a purchase of 1,500 shares of the issuer's common stock on 09/26/2025 at a reported price of $4.66 per share. Following the transaction, the filing shows Mr. Malone beneficially owned 2,750 shares. The Form 4 was executed by a power of attorney and signed on 09/30/2025. The filing lists no derivative transactions and includes Exhibit 24 (Power of Attorney).

Insights

Financial Analyst

TL;DR: Insider director purchased a small number of shares, raising beneficial ownership to 2,750 shares; transaction appears immaterial to valuation.

The reported acquisition of 1,500 common shares at $4.66 increases the director's stake but represents a small absolute holding. There are no derivative positions reported and no changes to control. For investors, this is a routine insider purchase disclosure required under Section 16 and does not by itself provide material information about company performance or financial condition.

Corporate Governance Expert

TL;DR: Filing documents a compliant Section 16 purchase by a director, filed via power of attorney and properly reported on Form 4.

The Form 4 records a standard insider transaction: director status is indicated, the nature of ownership is direct, and the form includes an Exhibit 24 POA signature. There are no apparent filing irregularities in the disclosed information. The size of the transaction is modest and unlikely to affect governance or control dynamics.

Insider Trade Summary

Net Buyer: 1,500 shares ($6,990)

Net Buy 1 txn

Insider MALONE PETER GERALD

Role Director

Bought 1,500 shs ($7K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	1,500	$4.66	$7K

Holdings After Transaction: Common Stock — 2,750 shares (Direct)

Footnotes (1)

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).

1. Name and Address of Reporting Person^*

MALONE PETER GERALD

(Last) (First) (Middle)

C/O ABRDN

1900 MARKET STREET, SUITE 200

(Street)

PHILADELPHIA PA 19103

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ABRDN AUSTRALIA EQUITY FUND, INC. [ IAF ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/26/2025

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	09/26/2025		P		1,500	A	$4.66	2,750	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:

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney

	/s/ Robert Stieger, by POA from Reporting Person	09/30/2025
	** 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

Who filed the Form 4 for ABRDN Australia Equity Fund (IAF)?

The reporting person is Peter Gerald Malone, identified as a director of the issuer.

What transaction was reported on the Form 4 for IAF?

A purchase of 1,500 shares of common stock on 09/26/2025 at a price of $4.66 per share.

How many shares did the reporting person own after the transaction?

The Form 4 reports beneficial ownership of 2,750 shares following the transaction.

Were any derivative securities reported in this filing for IAF?

No. Table II shows no derivative securities reported in this Form 4.

When was the Form 4 signed and by whom?

The form was signed on 09/30/2025 by Robert Stieger under a power of attorney on behalf of the reporting person.