Barings Corporate Investors (MCI) officer reports deferred plan credit

Rhea-AI Filing Summary

Christina Emery, an officer of Barings Corporate Investors (MCI), reported a transaction in a non‑qualified thrift plan on 10/02/2025. The filing shows a derivative entry tied to the plan investment option that tracks the market value of the issuer's common shares; the instrument is not actual stock but a notional interest. The report records 36.6914 derivative units at a price basis of $20.48, representing 4,782.8142 shares of beneficial interest following the transaction. The derivative is exercisable only upon termination, retirement, or another plan‑permitted event; plan holdings may be liquidated and reallocated by the participant. The filing was signed by an attorney‑in‑fact on 10/03/2025.

Positive

• Disclosure of plan holdings: The officer reported 4,782.8142 shares represented in the deferred compensation plan, providing transparency
• Clear plan mechanics: Filing explains the derivative is notional and exercisable only upon termination or retirement

Negative

• No direct stock transfer: The reported position is not actual shares, so it does not convey immediate voting rights or market liquidity

Insights

Corporate Governance Analyst

Officer reported a notional plan credit representing 4,782.8142 shares; these are plan credits, not direct stock.

The Form 4 discloses a derivative position tied to a non‑qualified deferred compensation plan offered by Barings LLC and MassMutual that tracks MCI share value. The filing explicitly states the derivative is not backed by actual shares and becomes exercisable only on termination or retirement, which limits immediate voting or transfer rights.

This matters for governance because the reported amount (4,782.8142 shares) increases reported beneficial interest numerically but does not equate to transferable equity; investors should note the distinction when assessing insider holdings disclosed on SEC forms.

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

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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^*

Emery Christina

(Last) (First) (Middle)

C/O BARINGS LLC

300 SOUTH TRYON STREET, SUITE 2500

(Street)

CHARLOTTE NC 28202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BARINGS CORPORATE INVESTORS [ MCI ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/02/2025

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

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
Barings Non-Qualified Thrift Plan	(1)	10/02/2025		J(2)		36.6914		(1)	(1)	Common Shares ("Shares of Beneficial Interest")	36.6914	$20.48	4,782.8142	D

Explanation of Responses:

1. Exercisable only upon termination, retirement, or other plan permitted event. Plan holdings may be "liquidated" and reallocated into other plan investment options by the plan participant. The derivative has no actual securities underlying the plan agreement, which is entirely notional.

2. Barings LLC (fka Babson Capital Management LLC) and Massachusetts Mutual Life Insurance Company each offer a non-qualified compensation deferral plan where certain officers are permitted to defer a portion of their compensation into the plans. Deferred compensation into a plan is allocated among one or more investment options at the election of the plan participant. Each plan has an investment option that derives its value from the market value of Barings Corporate Investors' common shares (and includes the value of reinvested dividends). However, pursuant to the terms of the plans, neither the plans nor the participants have an actual ownership interest in the common shares. The shares beneficially owned include the number of shares of Barings Corporate Investors represented by the value of the Barings Corporate Investors investment option under the plan held by the plan participant.

	Stacy Standridge, as Attorney-in-fact	10/03/2025
	** 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).
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FAQ

What did the Form 4 filed for MCI report?

The Form 4 reports a notional derivative position in a non‑qualified thrift plan representing 4,782.8142 shares with a price basis of $20.48, dated 10/02/2025.

Who reported the transaction on Form 4 for MCI?

The reporting person is Christina Emery, an officer (President) of Barings Corporate Investors; the form was signed by Stacy Standridge as attorney‑in‑fact on 10/03/2025.

Are the reported shares actual common stock?

No. The filing states the plan investment option is not actual shares but a notional derivative that tracks the market value of MCI common shares.

When do the derivative holdings become exercisable?

The derivative is exercisable only upon termination, retirement, or another plan‑permitted event, per the filing.

Which plans are referenced in the Form 4?

The filing references non‑qualified compensation deferral plans offered by Barings LLC (fka Babson Capital Management LLC) and Massachusetts Mutual Life Insurance Company.