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

Rhea-AI Filing Summary

Insider transaction summary: David L. Magdol, President, Chief Investment Officer and Senior Managing Director of MSC Income Fund, Inc. (MSIF), acquired 220.99 shares of the issuer's common stock on 08/01/2025 at a reported price of $15.32 per share under transaction code J(1). The filing reports 42,125.326 shares beneficially owned by the reporting person following the transaction, held directly. The form states these shares were acquired through the fund's dividend reinvestment plan and that the reinvestment transaction is exempt from Section 16 under Rule 16a-11. The Form 4 was signed by an attorney-in-fact on 08/18/2025.

Positive

• Transaction was conducted under the dividend reinvestment plan, indicating automatic reinvestment rather than an open-market sale.
• Reporting person retains direct beneficial ownership of 42,125.326 shares after the transaction, showing continued insider stake.

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine dividend reinvestment acquisition; no change to control and no sale reported.

This Form 4 documents a small, non-dispositive acquisition under the issuer's dividend reinvestment plan. The transaction code J(1) and the explanation confirm the shares were obtained via a Rule 16a-11 exempt reinvestment, which is a recurring, administrative purchase rather than an active market trade. The post-transaction beneficial ownership of 42,125.326 shares is reported as direct ownership. For investors, this is a compliance disclosure showing continued insider ownership but does not indicate a material change to the companys capitalization or governance.

Corporate Governance Expert

TL;DR: Administrative insider purchase via DRIP; no governance or control implications.

The report is consistent with standard insider reporting practices for dividend reinvestment plans. The signature by an attorney-in-fact is properly executed, and the filing identifies the reporting person's role as President, CIO and SMD, providing transparency on officer holdings. Because the acquisition is routine and exempt under Rule 16a-11, it does not constitute a negotiated open-market transaction and therefore carries limited governance significance.

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^*

Magdol David L.

(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)
	PRESIDENT, CIO AND SMD

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	220.99	A	$15.32	42,125.326	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, Attorney-in-Fact	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

What did MSIF insider David L. Magdol report on Form 4?

He reported acquiring 220.99 shares of MSC Income Fund, Inc. common stock on 08/01/2025 under a dividend reinvestment transaction exempt under Rule 16a-11.

How many shares does the insider own after the reported transaction (MSIF)?

42,125.326 shares are reported as beneficially owned following the transaction, held directly by the reporting person.

At what price were the shares acquired in the Form 4 filing for MSIF?

$15.32 per share is the reported price for the 220.99 shares acquired on 08/01/2025.

What does transaction code J(1) mean on this Form 4 for MSIF?

J(1) indicates the shares were acquired under a dividend reinvestment plan and the transaction is exempt from Section 16 under Rule 16a-11, as stated in the filing.

Who signed the Form 4 for this MSIF filing and when?

Jason B. Beauvais, Attorney-in-Fact signed the Form 4 on 08/18/2025, as shown on the filing.