Chicago Atlantic BDC director buys 134 shares

Scott Gordon bought 134 LIEN shares for $10.22 each, bringing his direct stake to 96,190 shares after the Aug. 31 Form 4.

Rhea-AI Filing Summary

For Chicago Atlantic BDC, Inc. (LIEN), director and Co-Chief Investment Officer Scott Gordon reported an open-market purchase of 134 shares of common stock on 2026-08-31 at $10.22 per share. After this transaction, he directly holds 96,190 shares and is reported as a potential indirect beneficial owner of 2,887,204 shares held by Chicago Atlantic BDC Advisers, LLC, which he disclaims except to the extent of his pecuniary interest.

Insider Trade Summary

Net Buyer: 134 shares

Net Buy 2 txns

Insider Gordon Scott

Role Co-Chief Investment Officer

Bought 134 shs ($1K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	134	$10.22	$1K
holding	Common Stock F1	--	--	--

Holdings After Transaction: Common Stock — 96,190 shares (Direct); Common Stock — 2,887,204 shares (Indirect, Chicago Atlantic BDC Advisers, LLC)

Footnotes (1)

1. F1. Scott Gordon directly (whether through ownership or position) or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of the shares of Common Stock owned by Chicago Atlantic BDC Advisers, LLC. Mr. Gordon disclaims beneficial ownership of the shares of Common Stock owned by Chicago Atlantic BDC Advisers, LLC except to the extent of his pecuniary interest therein and this report shall not be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Key Figures

Shares purchased: 134 shares of Common Stock Purchase price: $10.22 per share Direct holdings after transaction: 96,190 shares of Common Stock +1 more

4 metrics

Shares purchased 134 shares of Common Stock Open-market or private transaction on 2026-08-31

Purchase price $10.22 per share Price for 134 purchased shares on 2026-08-31

Direct holdings after transaction 96,190 shares of Common Stock Direct ownership reported following the 2026-08-31 purchase

Indirect holdings 2,887,204 shares of Common Stock Indirectly held through Chicago Atlantic BDC Advisers, LLC with beneficial ownership disclaimed except for pecuniary interest

Key Terms

indirect beneficial owner, pecuniary interest, Section 16 of the Securities Exchange Act of 1934

3 terms

indirect beneficial owner regulatory

"may be deemed for purposes of Section 16 ... to be the indirect beneficial owner"

pecuniary interest financial

"disclaims beneficial ownership ... except to the extent of his pecuniary interest"

Section 16 of the Securities Exchange Act of 1934 regulatory

"for purposes of Section 16 of the Securities Exchange Act of 1934, as amended"

A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.

FAQ

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

What insider transaction did Scott Gordon report in LIEN on this Form 4?

Scott Gordon reported purchasing 134 shares of Chicago Atlantic BDC, Inc. common stock on 2026-08-31 at a price of $10.22 per share, characterized as an open market or private transaction purchase.

How many LIEN shares does Scott Gordon directly own after this transaction?

After the reported purchase, Scott Gordon directly owns 96,190 shares of Chicago Atlantic BDC, Inc. common stock, as stated in the post-transaction holdings on the Form 4.

What indirect LIEN holdings are associated with Scott Gordon?

The Form 4 lists 2,887,204 shares of Chicago Atlantic BDC, Inc. common stock as indirectly owned through Chicago Atlantic BDC Advisers, LLC. Gordon may be deemed an indirect beneficial owner for Section 16 purposes but disclaims beneficial ownership except to his pecuniary interest.

Was the LIEN trade by Scott Gordon part of a Rule 10b5-1 trading plan?

The Form 4 indicates the Rule 10b5-1 checkbox is not checked, and the footnote does not describe a Rule 10b5-1 plan, so the filing does not state that the trade was made under such a plan.

What role does Scott Gordon hold at Chicago Atlantic BDC, Inc. (LIEN)?

Scott Gordon is identified as a director and Co-Chief Investment Officer of Chicago Atlantic BDC, Inc. on the Form 4 reporting this transaction.

How is beneficial ownership of the indirect LIEN shares characterized in the filing?

The filing states Gordon may be deemed an indirect beneficial owner of shares held by Chicago Atlantic BDC Advisers, LLC for Section 16 purposes, but he disclaims beneficial ownership of those shares except to the extent of his pecuniary interest.

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

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Available on EDGAR 09/01/2026 - 06:45 PM EDT Accepted by SEC EDGAR 09/01/2026 - 06:44 PM EDT 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^*

Gordon Scott

(Last) (First) (Middle)

C/O CHICAGO ATLANTIC BDC, INC.

600 MADISON AVENUE, SUITE 1800

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Chicago Atlantic BDC, Inc. [ LIEN ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Co-Chief Investment Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/31/2026

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	08/31/2026		P		134	A	$10.22	96,190	D
Common Stock								2,887,204	I	Chicago Atlantic BDC Advisers, LLC(1)

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. Scott Gordon directly (whether through ownership or position) or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of the shares of Common Stock owned by Chicago Atlantic BDC Advisers, LLC. Mr. Gordon disclaims beneficial ownership of the shares of Common Stock owned by Chicago Atlantic BDC Advisers, LLC except to the extent of his pecuniary interest therein and this report shall not be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

	/s/ Scott Gordon	09/01/2026
	** 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)