[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 two open-market purchases of the issuer's common stock. On 08/28/2025 he acquired 1,050 shares at a weighted-average price of $13.98, increasing his beneficial holdings to 3,096.4499 shares. On 08/29/2025 he acquired an additional 750 shares at a weighted-average price of $14.09, bringing his total to 3,846.4499 shares. The filing states the reported prices reflect weighted averages from multiple executions within the disclosed ranges and the reporting person will provide transaction-level detail upon request.

Positive

• Insider purchases: CFO/Treasurer acquired a total of 1,800 shares across two days, increasing direct beneficial ownership to 3,846.4499 shares.
• Transparent pricing: Filing discloses weighted-average prices and price ranges and offers to provide per-trade details on request, supporting compliance.

Negative

• None.

Insights

Financial Analyst

TL;DR Insider purchases totaling 1,800 shares at ~$14 may signal modest buy conviction but are small relative to typical institutional holdings.

The purchases by the CFO and Treasurer are straightforward open-market acquisitions that increase his direct beneficial ownership to 3,846.4499 shares. The filing discloses weighted-average prices and ranges for the multiple executions, which is standard practice. From a liquidity and signaling perspective, these transactions are modest in size and provide limited information about company-wide fundamentals; they are, however, a neutral-to-slightly-positive indicator that management is adding to personal exposure.

Corporate Governance Expert

TL;DR Properly reported transactions with explanatory footnotes demonstrate compliance with Section 16 disclosure obligations.

The Form 4 lists the reporting person, relationship to the issuer (CFO and Treasurer), transaction codes and weighted-average pricing ranges and includes an undertaking to provide detailed per-trade prices on request. The presence of an attorney-in-fact signature indicates the filing was executed by an authorized representative. There are no corrective amendments or unusual derivative transactions disclosed.

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^*

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)
08/28/2025

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	08/28/2025		P		1,050	A	$13.98(1)	3,096.4499	D
Common Stock	08/29/2025		P		750	A	$14.09(2)	3,846.4499	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 price reported is a weighted average price. These shares were purchased in multiple transaction at prices ranging from $13.95 to $14.05, inclusive. The reporting person undertakes to provide to MSC Income Fund, Inc, any of its security holders, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

2. The price reported is a weighted average price. These shares were purchased in multiple transaction at prices ranging from $14.00 to $14.14, inclusive. The reporting person undertakes to provide to MSC Income Fund, Inc., any of its security holders, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

	/s/ Jason B. Beauvais, Attorney-in-Fact	09/02/2025
	** 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 transactions did MSIF insider Gilbert Cory report in this Form 4?

He reported two open-market purchases: 1,050 shares on 08/28/2025 at a weighted-average price of $13.98, and 750 shares on 08/29/2025 at a weighted-average price of $14.09.

How many MSIF shares does Gilbert Cory beneficially own after these transactions?

Following the reported purchases he beneficially owns 3,846.4499 shares of MSIF common stock.

What do the reported prices represent in the Form 4?

Each reported price is a weighted-average reflecting multiple executions within disclosed price ranges ($13.95–$14.05 for 08/28 and $14.00–$14.14 for 08/29).

What is Gilbert Cory’s role at MSIF as listed on the Form 4?

He is identified as an Officer with the titles CFO and Treasurer and is not listed as a 10% owner.

Who signed the Form 4 filing on behalf of the reporting person?

The filing was signed by Jason B. Beauvais as Attorney-in-Fact for the reporting person.