Barings Corporate Investors deferred comp plan update

Barings Corporate Investors reported a non-market administrative change in a deferred compensation plan tied to its common shares.

Rhea-AI Filing Summary

Barings Corporate Investors reported a non-market administrative change in a deferred compensation plan tied to its common shares. Adviser Board Member Merritt Sears recorded 4,767.6350 units in the MassMutual Non-Qualified Thrift Plan at a reference value of $20.68, with 4,767.6357 units reflected after the transaction. The plan’s value tracks Barings Corporate Investors’ common shares, but the footnotes state the arrangement is entirely notional, with no actual ownership interest or voting rights in the shares and exercisable only upon termination, retirement, or another plan-permitted event.

Insider Trade Summary

Other: 4,767.635 shares

Other 1 txn

Insider Merritt Sears

Role Insider

Type	Security	Shares	Price	Value
Other	MassMutual Non-Qualified Thrift Plan	4,767.635	$20.68	$99K

Holdings After Transaction: MassMutual Non-Qualified Thrift Plan — 4,767.6357 contracts (Direct)

Footnotes (2)

1. F1. 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. F2. 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.

Key Figures

Plan units transacted: 4,767.6350 units Reference value per unit: $20.68 Units after transaction: 4,767.6357 units +1 more

4 metrics

Plan units transacted 4,767.6350 units MassMutual Non-Qualified Thrift Plan transaction

Reference value per unit $20.68 Transaction price per plan unit

Units after transaction 4,767.6357 units Total plan units following transaction

Restructuring units 4,767.635 units Classified as restructuring shares in summary

Key Terms

MassMutual Non-Qualified Thrift Plan, non-qualified compensation deferral plan, entirely notional, Shares of Beneficial Interest

4 terms

MassMutual Non-Qualified Thrift Plan financial

"security title is listed as "MassMutual Non-Qualified Thrift Plan""

non-qualified compensation deferral plan financial

"each offer a non-qualified compensation deferral plan where certain officers are permitted"

entirely notional financial

"the derivative has no actual securities underlying the plan agreement, which is entirely notional"

Shares of Beneficial Interest financial

"underlying security title is Common Shares ("Shares of Beneficial Interest")"

FAQ

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

What did Merritt Sears report in this Form 4 for MCI?

Merritt Sears reported an administrative transaction involving 4,767.6350 units in a MassMutual Non-Qualified Thrift Plan, valued at $20.68 per unit. This plan’s value is linked to Barings Corporate Investors’ common shares but does not represent actual share ownership.

Does this Form 4 show Merritt Sears buying or selling MCI shares?

No, the filing describes an "other" transaction in a non-qualified plan, not a share purchase or sale. The plan position is notional and tracks Barings Corporate Investors’ share value without conferring direct ownership or voting rights in the common shares.

How many plan units tied to Barings Corporate Investors are reported?

The filing shows 4,767.6350 units affected in the MassMutual Non-Qualified Thrift Plan, with 4,767.6357 units held after the transaction. These units derive value from Barings Corporate Investors’ common shares, including reinvested dividends, but remain part of a deferred compensation arrangement.

What is the role of the MassMutual Non-Qualified Thrift Plan in this MCI filing?

The MassMutual Non-Qualified Thrift Plan is a deferred compensation vehicle where certain officers defer pay into investment options. One option tracks Barings Corporate Investors’ common share value, yet the plan and participants hold no actual common shares, only notional interests.

When can the reported plan interest related to MCI be exercised or accessed?

The footnotes state the plan interest is exercisable only upon termination, retirement, or another plan-permitted event. Until then, participants may reallocate among plan investment options, but the compensation arrangement remains notional rather than delivering actual Barings Corporate Investors shares.

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

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Accepted by SEC EDGAR 04/17/2026 - 11:39 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^*

Merritt Sears

(Last) (First) (Middle)

C/O BARINGS LLC

300 SOUTH TRYON STREET, SUITE 2500

(Street)

CHARLOTTE NORTH CAROLINA 28202

(City) (State) (Zip)

UNITED STATES

(Country)

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
	Officer (give title below)	X	Other (specify below)
			Adviser Board Member

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
12/03/2025

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

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
MassMutual Non-Qualified Thrift Plan	(1)	12/03/2025		J(2)			4,767.635	(1)	(1)	Common Shares ("Shares of Beneficial Interest")	4,767.635	$20.68	4,767.6357	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	04/17/2026
	** 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)