[Form 4] MSC Income Fund, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Jason B. Beauvais, an executive officer (EVP, General Counsel, Secretary) and director of MSC Income Fund, Inc. (MSIF), reported a non-derivative acquisition on 08/01/2025. The filing shows he acquired 110.494 shares of the issuer's common stock at $15.32 per share under a dividend reinvestment plan exempt from Section 16 under Rule 16a-11. After the transaction he beneficially owned 29,812.661 shares directly. The Form 4 is signed by Mr. Beauvais on 08/18/2025 and notes the acquisition was part of a dividend reinvestment transaction.

Positive

• Transparent disclosure of the dividend reinvestment acquisition with transaction code J(1) and explanatory note
• Minor increase in direct beneficial ownership via reinvested dividends, showing alignment with shareholder interests

Negative

• None.

Insights

Securities Compliance Analyst

TL;DR: Routine insider acquisition via dividend reinvestment; no unusual change in control or material disposition.

This Form 4 records a small, exempt acquisition under Rule 16a-11, which typically occurs when dividends are reinvested into additional shares. The reported 110.494 shares at $15.32 is modest relative to total reported beneficial ownership of 29,812.661 shares. Filing appears to meet disclosure requirements by specifying transaction code J(1) and providing an explanatory note. No derivative transactions or dispositions are reported.

Corporate Governance Expert

TL;DR: Disclosure is standard and transparent; transaction aligns with typical executive dividend reinvestment activity.

The report identifies the reporting persons roles and relationship to the issuer and documents the acquisition method and exemption. The signature and explanation clarify that the transaction was a dividend reinvestment exempt under Section 16, which reduces regulatory friction for routine insider purchases funded by dividends. There are no indications of material governance events or compensatory grants in this filing.

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
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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^*

Beauvais Jason 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, GC, SECRETARY

3. Date of Earliest Transaction (Month/Day/Year)
08/01/2025

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	08/01/2025		J(1)	V	110.494	A	$15.32	29,812.661	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:

1. The reporting person acquired these shares under a dividend reinvestment plan, pursuant to a dividend reinvestment transaction exempt from Section 16 under Rule 16a-11.

	/s/ Jason B. Beauvais	08/18/2025
	** 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

Who filed the Form 4 for MSIF?

The Form 4 was filed by Jason B. Beauvais, EVP, General Counsel, Secretary and a director of MSC Income Fund, Inc.

What transaction was reported on the MSIF Form 4 dated 08/01/2025?

The filing reports the acquisition of 110.494 shares of common stock at $15.32 per share under a dividend reinvestment plan (transaction code J(1)).

How many MSIF shares does the reporting person own after the transaction?

After the reported transaction the reporting person beneficially owned 29,812.661 shares directly.

Why was the acquisition exempt from Section 16 reporting rules?

The acquisition was made under a dividend reinvestment transaction exempt from Section 16 under Rule 16a-11, as stated in the filing.

When was the Form 4 signed?

The Form 4 bears the reporting persons signature dated 08/18/2025.