Roger Crandall adjusts notional Barings Corporate Investors (MCI) plan exposure

Rhea-AI Filing Summary

BARINGS CORPORATE INVESTORS adviser board member Roger W. Crandall reported a restructuring-type change in deferred compensation linked to the company’s shares. A Form 4 entry shows an “other” transaction in a MassMutual Non-Qualified Thrift Plan for 4,193.7829 notional units at $19.30, with 226,283.5753 units reflected afterward.

The filing also reports direct plan-related exposure of 294,091.0001 notional shares through a Barings Non-Qualified Thrift Plan and a separate direct holding of 9,425.48 common shares. Footnotes explain these plans are non-qualified compensation deferral arrangements that track Barings Corporate Investors’ share value but do not provide actual ownership of common shares; the positions are entirely notional and exercisable only upon retirement, termination, or similar plan events.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider CRANDALL ROGER W

Role Insider

Type	Security	Shares	Price	Value
Other	MassMutual Non-Qualified Thrift Plan	4,193.783	$19.30	$81K
holding	Barings Non-Qualified Thrift Plan	--	--	--
holding	Common Shares ("Shares of Beneficial Interest")	--	--	--

Holdings After Transaction: MassMutual Non-Qualified Thrift Plan — 226,283.575 shares (Direct); Barings Non-Qualified Thrift Plan — 294,091 shares (Direct); Common Shares ("Shares of Beneficial Interest") — 9,425.48 shares (Direct)

Footnotes (1)

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. 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.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 03/24/2026 - 01:40 PM Learn about SEC filing dates

FAQ

What did Roger W. Crandall report in this Barings Corporate Investors (MCI) Form 4?

He reported an “other” transaction in a MassMutual Non-Qualified Thrift Plan tied to 4,193.7829 notional units at $19.30, plus updated holdings in Barings’ own non-qualified plan and 9,425.48 directly held common shares.

Were any open-market buys or sells of Barings Corporate Investors (MCI) shares disclosed?

No open-market purchases or sales were disclosed. The main entry is coded as an “other” transaction related to a non-qualified thrift plan, and the remaining entries simply update reported holdings in plan-linked and directly held positions.

How many Barings Corporate Investors-related units does the MassMutual plan show after the transaction?

After the reported change, the MassMutual Non-Qualified Thrift Plan position reflects 226,283.5753 notional units. These units track the value of Barings Corporate Investors’ common shares under a deferred compensation arrangement rather than representing directly owned stock.

What does the Form 4 say about Barings Corporate Investors exposure through the Barings Non-Qualified Thrift Plan?

The filing shows a Barings Non-Qualified Thrift Plan investment option representing 294,091.0001 notional underlying shares. Footnotes explain this plan tracks Barings Corporate Investors’ common share value, including reinvested dividends, but does not confer actual common share ownership.

Does Roger W. Crandall directly own any Barings Corporate Investors (MCI) common shares?

Yes. Beyond notional plan interests, the Form 4 reports a direct holding of 9,425.48 Barings Corporate Investors common shares, labeled as “Shares of Beneficial Interest,” separate from the deferred compensation plan tracking positions.

How do the non-qualified plans described in the Form 4 treat Barings Corporate Investors shares?

Both non-qualified compensation plans offer investment options whose value derives from Barings Corporate Investors’ common shares, including reinvested dividends. However, the footnotes clarify that neither the plans nor participants have actual ownership of the common shares; the interests are entirely notional.

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^*

CRANDALL ROGER W

(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)
03/20/2026

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 Shares ("Shares of Beneficial Interest")								9,425.48	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
MassMutual Non-Qualified Thrift Plan	(1)	03/20/2026		J(2)		4,193.7829		(1)	(1)	Common Shares ("Shares of Beneficial Interest")	4,193.7829	$19.3	226,283.5753	D
Barings Non-Qualified Thrift Plan	(1)							(1)	(1)	Common Shares ("Shares of Beneficial Interest")	294,091.0001		294,091.0001	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	03/24/2026
	** 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)