Morgan Stanley Direct Lending Fund (MSDL) officer acquires 3,000 shares

Rhea-AI Filing Summary

Morgan Stanley Direct Lending Fund reported an equity transaction by its chief investment officer on a Form 4. On 11/11/2025, the officer acquired 3,000 shares of common stock, par value $0.001 per share, at a price of $16.72 per share, with the transaction coded as “P.”

After this acquisition, the reporting officer beneficially owned 3,000 shares of the fund’s common stock, held in direct ownership.

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

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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).

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^*

Krishnan Ashwin

(Last) (First) (Middle)

C/O MORGAN STANLEY

1585 BROADWAY

(Street)

NEW YORK NY 10036

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Morgan Stanley Direct Lending Fund [ MSDL ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/11/2025

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
Common Stock, par value $0.001 per share	11/11/2025		P		3,000	A	$16.72	3,000	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

Explanation of Responses:

	/s/ Orit Mizrachi, by power of attorney	12/16/2025
	** 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.

FAQ

What insider equity transaction did Morgan Stanley Direct Lending Fund (MSDL) report?

The filing reports that the chief investment officer acquired 3,000 shares of Morgan Stanley Direct Lending Fund common stock on 11/11/2025 at a price of $16.72 per share.

What security was involved in the MSDL Form 4 transaction?

The transaction involved common stock of Morgan Stanley Direct Lending Fund with a par value of $0.001 per share.

How many MSDL shares does the reporting person own after this transaction?

Following the reported transaction, the reporting person beneficially owned 3,000 shares of Morgan Stanley Direct Lending Fund common stock.

Was the MSDL Form 4 transaction an acquisition or a disposition of shares?

The Form 4 shows the transaction as an acquisition of shares, with the shares listed as 3,000 acquired (A) and transaction code P.

What is the relationship of the reporting person to Morgan Stanley Direct Lending Fund (MSDL)?

The reporting person is identified as an officer of Morgan Stanley Direct Lending Fund, with the title Chief Investment Officer.

How is ownership of the MSDL shares characterized after the transaction?

The 3,000 shares are reported as being held in direct (D) ownership by the reporting person.

Who signed the Form 4 relating to MSDL and how was it executed?

The Form 4 is signed as “/s/ Orit Mizrachi, by power of attorney”, dated 12/16/2025, indicating signature by power of attorney on behalf of the reporting person.