Chicago Atlantic BDC director buys 7,733 shares

Q: What insider transactions did Scott Gordon report for Chicago Atlantic BDC, Inc. (LIEN)?

Scott Gordon reported three open-market purchases of LIEN common stock totaling 7,733 shares on August 25–27, 2026, at prices between $10.12 and a weighted-average of $10.188 per share.

Q: On what dates did Scott Gordon buy LIEN shares and at what prices?

He purchased 250 shares on August 25, 2026 at $10.12, 2,483 shares on August 26, 2026 at $10.15, and 5,000 shares on August 27, 2026 at a weighted-average price of $10.188 per share.

Q: How many LIEN shares are reported as indirectly held in this Form 4?

The Form 4 reports 2,887,204 shares of Chicago Atlantic BDC, Inc. common stock held indirectly through Chicago Atlantic BDC Advisers, LLC. Scott Gordon may be deemed an indirect beneficial owner but disclaims beneficial ownership except for his pecuniary interest.

Q: Were Scott Gordon’s LIEN trades reported under a Rule 10b5-1 trading plan?

No. The filing’s Rule 10b5-1 checkbox is not marked as affirmed, and there is no footnote stating that the reported purchases were made pursuant to a Rule 10b5-1 or other pre-arranged trading plan.

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

Scott Gordon is identified as a director and Co-Chief Investment Officer of Chicago Atlantic BDC, Inc. in the Form 4 reporting his recent purchases of common stock.

Chicago Atlantic BDC, Inc. (LIEN) director and Co-Chief Investment Officer Scott Gordon reported open-market purchases of a total of 7,733 shares of common stock on August 25–27, 2026, at prices between $10.12 and a weighted-average of $10.188 per share.

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Rhea-AI Filing Summary

Chicago Atlantic BDC, Inc. (LIEN) director and Co-Chief Investment Officer Scott Gordon reported open-market purchases of a total of 7,733 shares of common stock on August 25–27, 2026, at prices between $10.12 and a weighted-average of $10.188 per share. The filing also lists 2,887,204 shares of common stock held indirectly through Chicago Atlantic BDC Advisers, LLC, for which Mr. Gordon may be deemed an indirect beneficial owner but disclaims beneficial ownership except for his pecuniary interest.

Insider Trade Summary

Net Buyer: 7,733 shares

Net Buy 4 txns

Insider Gordon Scott

Role Co-Chief Investment Officer

Bought 7,733 shs ($79K)

Type	Security	Shares	Price	Value
Purchase	Common Stock ^F2	5,000	$10.188	$51K
Purchase	Common Stock	2,483	$10.15	$25K
Purchase	Common Stock	250	$10.12	$3K
holding	Common Stock ^F1	--	--	--

Holdings After Transaction: Common Stock — 96,056 shares (Direct); Common Stock — 2,887,204 shares (Indirect, Chicago Atlantic BDC Advisers, LLC)

Footnotes (2)

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.
F2. The price reported reflects the weighted-average purchase price from several discrete transactions executed throughout the Transaction Date at prices that ranged from $10.18 to $10.19 per share. Upon request, the Reporting Person has agreed to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission full information regarding the number of shares purchased at each price within the range set forth in this footnote.

Key Figures

Shares purchased 2026-08-27: 5,000 shares at $10.188 per share Shares purchased 2026-08-26: 2,483 shares at $10.15 per share Shares purchased 2026-08-25: 250 shares at $10.12 per share +3 more

6 metrics

Shares purchased 2026-08-27 5,000 shares at $10.188 per share Open-market common stock purchase by Scott Gordon on August 27, 2026

Shares purchased 2026-08-26 2,483 shares at $10.15 per share Open-market common stock purchase by Scott Gordon on August 26, 2026

Shares purchased 2026-08-25 250 shares at $10.12 per share Open-market common stock purchase by Scott Gordon on August 25, 2026

Total common shares purchased 7,733 shares Aggregate of reported open-market purchases on August 25–27, 2026

Indirectly held common shares 2,887,204 shares Common stock held indirectly through Chicago Atlantic BDC Advisers, LLC

Price range for weighted-average purchase $10.18 to $10.19 per share Range of prices underlying the $10.188 weighted-average purchase on August 27, 2026

Key Terms

indirect beneficial owner, pecuniary interest, weighted-average purchase price, Section 16 of the Securities Exchange Act of 1934

4 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 therein"

weighted-average purchase price financial

"The price reported reflects the weighted-average purchase price from several discrete transactions"

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 transactions did Scott Gordon report for Chicago Atlantic BDC, Inc. (LIEN)?

Scott Gordon reported three open-market purchases of LIEN common stock totaling 7,733 shares on August 25–27, 2026, at prices between $10.12 and a weighted-average of $10.188 per share.

On what dates did Scott Gordon buy LIEN shares and at what prices?

He purchased 250 shares on August 25, 2026 at $10.12, 2,483 shares on August 26, 2026 at $10.15, and 5,000 shares on August 27, 2026 at a weighted-average price of $10.188 per share.

How many LIEN shares are reported as indirectly held in this Form 4?

The Form 4 reports 2,887,204 shares of Chicago Atlantic BDC, Inc. common stock held indirectly through Chicago Atlantic BDC Advisers, LLC. Scott Gordon may be deemed an indirect beneficial owner but disclaims beneficial ownership except for his pecuniary interest.

Were Scott Gordon’s LIEN trades reported under a Rule 10b5-1 trading plan?

No. The filing’s Rule 10b5-1 checkbox is not marked as affirmed, and there is no footnote stating that the reported purchases were made pursuant to a Rule 10b5-1 or other pre-arranged trading plan.

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

Scott Gordon is identified as a director and Co-Chief Investment Officer of Chicago Atlantic BDC, Inc. in the Form 4 reporting his recent purchases of common stock.

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

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Available on EDGAR 08/27/2026 - 05:11 PM EDT Accepted by SEC EDGAR 08/27/2026 - 05:10 PM EDT

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

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)
08/25/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	08/25/2026		P		250	A	$10.12	88,573	D
Common Stock	08/26/2026		P		2,483	A	$10.15	91,056	D
Common Stock	08/27/2026		P		5,000	A	$10.188⁽²⁾	96,056	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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.

2. The price reported reflects the weighted-average purchase price from several discrete transactions executed throughout the Transaction Date at prices that ranged from $10.18 to $10.19 per share. Upon request, the Reporting Person has agreed to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission full information regarding the number of shares purchased at each price within the range set forth in this footnote.

	/s/ Scott Gordon	08/27/2026
	** 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)

Source: View Original Filing on SEC EDGAR