XAI Madison Equity Premium Income Fund reports 2,573.791 shares

Rhea-AI Filing Summary

XAI Madison Equity Premium Income Fund (MCN) reported an annual Form 5 for adviser personnel John Yogi Spence. The filing shows 2,573.791 common shares beneficially owned directly at the end of the fiscal year ended 09/30/2025. This total includes 73.791 shares received through the MCN Dividend Reinvestment Plan. No derivative securities were listed. The report was filed by one reporting person.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Spence John Yogi

Role Insider

Type	Security	Shares	Price	Value
holding	Common Shares of Beneficial Ownership	--	--	--

Holdings After Transaction: Common Shares of Beneficial Ownership — 2,573.791 shares (Direct)

Footnotes (1)

1. F1. Shares beneficially owned reflect 73.791 received through the MCN Dividend Reinvestment Plan

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Accepted by SEC EDGAR 11/14/2025 - 04:25 PM Learn about SEC filing dates

FAQ

What did MCN disclose in this Form 5?

An annual statement reporting 2,573.791 common shares beneficially owned directly at fiscal year-end 09/30/2025.

How many MCN shares came from the Dividend Reinvestment Plan?

The filing attributes 73.791 shares to the MCN Dividend Reinvestment Plan.

Were any derivative securities reported for MCN?

No derivative securities were reported.

What is the reporting person's relationship to MCN?

Listed as Other — Adviser Personnel.

Is the reported ownership direct or indirect?

The filing indicates Direct (D) ownership.

Was the Form 5 filed by one or multiple reporting persons?

It was filed by one reporting person.

Which company and ticker does this Form 5 relate to?

XAI Madison Equity Premium Income Fund with ticker MCN.

SEC Form 5

FORM 5

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL 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:			3235-0362
Estimated average burden
hours per response:			1.0

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Form 3 Holdings Reported.

Form 4 Transactions Reported.

1. Name and Address of Reporting Person^*

Spence John Yogi

(Last) (First) (Middle)

321 N. CLARK STREET

(Street)

CHICAGO IL 60054

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
XAI Madison Equity Premium Income Fund [ MCN ]

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

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

3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
09/30/2025

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 at end of Issuer's Fiscal Year (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
				Amount	(A) or (D)	Price
Common Shares of Beneficial Ownership							2,573.791(1)	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)
					(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares beneficially owned reflect 73.791 received through the MCN Dividend Reinvestment Plan

	/s/John Yogi Spence	11/14/2025
	** 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).
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.