Trust tied to Morgan Stanley Direct Lending (MSDL) buys 5,000 shares

Rhea-AI Filing Summary

Morgan Stanley Direct Lending Fund insider activity shows an open-market purchase linked to Co-President Jeff M. Day. On this transaction date, 5,000 shares of common stock were bought at $14.895 per share through The Day Family Trust, which now holds 22,818 shares indirectly attributed to him. Mr. Day is co-trustee of the trust and disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.

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^*

Day Jeff M.

(Last) (First) (Middle)

C/O MORGAN STANLEY DIRECT LENDING FUND

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)
	Co-President

3. Date of Earliest Transaction (Month/Day/Year)
03/05/2026

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	03/05/2026		P		5,000	A	$14.895	22,818	I(1)	See Footnote.

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:

1. Mr. Day is the co-trustee of The Day Family Trust, which owns the reported securities. Mr. Day disclaims beneficial ownership of shares of common stock held by The Day Family Trust, except to the extent of his pecuniary interest therein

	/s/ Orit Mizrachi, by power of attorney	03/05/2026
	** 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.

FAQ

What insider transaction did MSDL report for Jeff M. Day?

MSDL reported an insider-related open-market purchase linked to Co-President Jeff M. Day. Through The Day Family Trust, 5,000 shares of common stock were bought at $14.895 per share, increasing the trust’s indirectly attributed holdings to 22,818 shares connected to him.

How many MSDL shares were purchased in the latest insider trade?

The latest insider-related trade involved a purchase of 5,000 shares of MSDL common stock. These shares were acquired in an open-market transaction at $14.895 per share and are held by The Day Family Trust, which is co-trusteed by Jeff M. Day.

At what price were the MSDL shares bought in this insider transaction?

The MSDL shares were bought at a price of $14.895 per share in an open-market purchase. This transaction covered 5,000 shares held by The Day Family Trust, resulting in 22,818 shares being indirectly attributed to Co-President Jeff M. Day after the trade.

How many MSDL shares are indirectly attributed to Jeff M. Day after the trade?

After the reported purchase, 22,818 shares of MSDL common stock are indirectly attributed to Jeff M. Day. These shares are owned by The Day Family Trust, for which he serves as co-trustee and in which he notes pecuniary interest only to a limited extent.

Who actually holds the MSDL shares from Jeff M. Day’s reported transaction?

The MSDL shares from this transaction are held by The Day Family Trust, not directly by Jeff M. Day. He is a co-trustee of the trust and disclaims beneficial ownership of the common stock, except to the extent of any pecuniary interest he may have.

Is Jeff M. Day’s ownership in MSDL direct or indirect after this transaction?

Jeff M. Day’s reported ownership in MSDL is indirect following this transaction. The 22,818 shares of common stock are owned by The Day Family Trust, where he serves as co-trustee and disclaims beneficial ownership beyond his specific pecuniary interest in the trust’s holdings.