[Form 4] MSC INCOME FUND, INC. Insider Trading Activity

Rhea-AI Filing Summary

Insider purchases recorded for MSC Income Fund, Inc. (MSIF). Director Jeffrey B. Walker acquired a total of 3,700 shares through two open-market purchases on 09/25/2025 and 09/26/2025 at a reported price of $13.55 per share, increasing his beneficial ownership from 18,340.387 to 20,585.387 shares. The Form 4 was signed by an attorney-in-fact on 09/26/2025.

Insights

Securities Analyst

TL;DR: Director made modest open-market purchases, increasing stake to 20,585.387 shares.

The transactions are routine open-market purchases by a director: 1,455 shares on 09/25/2025 and 2,245 shares on 09/26/2025 at $13.55 each. These purchases increased beneficial ownership but represent a relatively small incremental stake in absolute terms based on the reported totals. No derivative transactions or dispositions are reported. This disclosure is standard Section 16 reporting and does not show material corporate actions or changes to control.

Corporate Governance Expert

TL;DR: Compliance filing shows timely reporting of insider purchases; no governance red flags disclosed.

The Form 4 identifies the reporting person as a director and indicates individual filing. Transactions are coded as open-market purchases (code P) and are reported across two consecutive dates. The form is signed by an attorney-in-fact, which is common practice. There are no indications of option exercises, sales, or indirect ownership changes in this filing.

Insider Trade Summary

Net Buyer: 3,700 shares

Net Buy 2 txns

Insider Walker Jeffrey B.

Role Director

Bought 3,700 shs ($50K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	2,245	$13.55	$30K
Purchase	Common Stock	1,455	$13.55	$20K

Holdings After Transaction: Common Stock — 20,585.387 shares (Direct)

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 09/26/2025 - 04:30 PM 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).

1. Name and Address of Reporting Person^*

Walker Jeffrey B.

(Last) (First) (Middle)

1300 POST OAK BLVD, 8TH FLOOR

(Street)

HOUSTON TX 77056

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MSC INCOME FUND, INC. [ MSIF ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2025

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	09/25/2025		P		1,455	A	$13.55	18,340.387	D
Common Stock	09/26/2025		P		2,245	A	$13.55	20,585.387	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/ Jason B. Beauvais, Attorney-in-Fact	09/26/2025
	** 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.