IAF Director Buys 2,000 Shares at $4.50 – Insider Trading Update

On 7/2/2025, abrdn Australia Equity Fund (IAF) director Moritz A. Sell reported buying 2,000 common shares at $4.50 each, increasing his direct ownership to 3,000 shares, according to a Form 4 filing.

Rhea-AI Filing Summary

On 7/2/2025, abrdn Australia Equity Fund (IAF) director Moritz A. Sell reported buying 2,000 common shares at $4.50 each, increasing his direct ownership to 3,000 shares, according to a Form 4 filing. The purchase, valued at roughly $9,000, represents a personal investment signal but is immaterial relative to the funds total shares outstanding. No derivative transactions or additional insider activity were disclosed.

Insights

Securities Analyst

TL;DR: Small insider buy; positive signal but not financially material to IAF.

The reported 2,000-share purchase expands the directors stake to 3,000 shares, a 200% increase. At about $9k, the trade is too small to influence the funds NAV or liquidity, but it can be viewed as modest confidence from management given the voluntary use of personal capital. Absence of derivative activity suggests straightforward equity exposure. Overall, the filing is largely informational with limited market impact.

Insider Trade Summary

Net Buyer: 2,000 shares

Net Buy 1 txn

Insider SELL MORITZ A

Role Director

Bought 2,000 shs ($9K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	2,000	$4.50	$9K

Holdings After Transaction: Common Stock — 3,000 shares (Direct)

FAQ

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

How many IAF shares did director Moritz A. Sell purchase?

He bought 2,000 common shares.

What price did the insider pay for the IAF shares?

The reported purchase price was $4.50 per share.

What is Moritz A. Sells total shareholding after the transaction?

His direct ownership rose to 3,000 shares.

Were any derivative securities involved in this Form 4 filing for IAF?

No, the filing shows no derivative transactions.

Why was a Form 4 filed for abrdn Australia Equity Fund (IAF)?

Form 4 discloses insider trades; Sells purchase triggered the reporting requirement under Section 16(a).

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

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Accepted by SEC EDGAR 07/03/2025 - 10:04 AM Learn about SEC filing dates

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^*

SELL MORITZ A

(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)
07/02/2025

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	07/02/2025		P		2,000	A	$4.5	3,000	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/ Lucia Sitar, by POA from Moritz Sell	07/03/2025
	** 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.