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

Rhea-AI Filing Summary

Gilbert Cory, the CFO and Treasurer of MSC Income Fund, Inc. (MSIF), reported a non-derivative purchase under a dividend reinvestment plan on 08/01/2025. The filing shows acquisition of 46.4499 shares at a reported price of $15.07 per share, executed under an exempt dividend reinvestment transaction pursuant to Rule 16a-11. After the transaction the reporting person beneficially owned 2,046.4499 shares. The form was signed by an attorney-in-fact on 08/18/2025. The filing contains no derivative transactions and provides the transaction explanation as a dividend reinvestment.

Positive

• Acquisition made under a dividend reinvestment plan, showing participation in the company's dividend program
• Transaction exempt under Rule 16a-11, indicating an administrative reinvestment rather than discretionary open-market trading
• Beneficial ownership after transaction disclosed: 2,046.4499 shares, ensuring transparency

Negative

• None.

Insights

Financial Analyst

TL;DR: Small, routine insider share accrual via DRIP; immaterial to company valuation but confirms participation in dividend policy.

The reported transaction is a modest acquisition of 46.4499 shares at $15.07 per share via a dividend reinvestment plan, exempt under Rule 16a-11. Such purchases are typically administrative and indicate the officer elected to reinvest dividends rather than receive cash. There are no option exercises, dispositions, or material changes to ownership concentration reported. For investors this is a routine insider activity and does not by itself change MSIF's capital structure.

Corporate Governance Expert

TL;DR: Routine disclosure demonstrates compliance with Section 16 reporting; no governance red flags present.

The Form 4 identifies the reporting person as an officer (CFO and Treasurer) and discloses a dividend reinvestment acquisition that is specifically noted as exempt under Rule 16a-11. The filing was executed by an attorney-in-fact and includes the required explanatory statement. There are no indications of late reporting, related-party transactions, or material ownership shifts that would raise governance concerns based on the disclosed content.

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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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).

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^*

Gilbert Cory

(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)
	CFO and Treasurer

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	46.4499	A	$15.07	2,046.4499	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 transaction did MSIF insider Gilbert Cory report on Form 4?

The filing reports acquisition of 46.4499 shares via a dividend reinvestment plan on 08/01/2025.

At what price were the MSIF shares acquired by the reporting person?

The reported price for the acquisition was $15.07 per share.

How many MSIF shares did Gilbert Cory beneficially own after the transaction?

Following the reported transaction the reporting person beneficially owned 2,046.4499 shares.

Was the Form 4 transaction for MSIF a derivative or non-derivative security?

The filing discloses a non-derivative security acquisition; no derivative transactions are reported.

Why was this MSIF dividend reinvestment transaction exempt from Section 16 reporting?

The filing states the shares were acquired under a dividend reinvestment transaction exempt from Section 16 under Rule 16a-11.