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

Rhea-AI Filing Summary

MSC Income Fund, Inc. (MSIF) reporting person Dwayne L. Hyzak, who serves as a director and as CEO, reported a non-derivative acquisition of 276.238 shares of the issuer's common stock on 08/01/2025 at a reported price of $15.32 per share. The filing shows the shares were acquired under a dividend reinvestment plan and the transaction was exempt from Section 16 under Rule 16a-11. After the transaction, the reporting person beneficially owned 52,031.657 shares in a direct ownership form. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person on 08/18/2025.

Positive

• Insider participation in the dividend reinvestment plan shows ongoing alignment with shareholder interests
• Clear compliance with Section 16 reporting via a timely Form 4 filing signed by an attorney-in-fact

Negative

• None.

Insights

Securities Analyst

TL;DR: A routine dividend reinvestment added 276.238 shares; ownership remains concentrated at 52,031.657 shares, signaling no material change.

This Form 4 documents a small, non-derivative acquisition executed through the fund's dividend reinvestment plan, exempt under Rule 16a-11. Transaction size (276.238 shares) is modest relative to the reporting person's total direct holdings (52,031.657 shares), indicating this is likely a routine administrative increase rather than a strategic purchase. No dispositions, options, or other derivative transactions are reported. For investors, this is a standard insider reinvestment disclosure without clear market-moving implications.

Corporate Governance Expert

TL;DR: Insider participation in DRIP demonstrates alignment with shareholder reinvestment but is immaterial to control or governance.

The filing confirms the reporting person is both a director and the CEO, and that the additional shares were acquired via the issuer's dividend reinvestment mechanism. Such filings are important for transparency and compliance with Section 16 reporting obligations. The acquisition is noted as exempt under Rule 16a-11, which is typical for reinvested dividends. There are no indications of strategic shifts, compensatory option exercises, or selling activity that would raise governance concerns.

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

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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^*

Hyzak Dwayne 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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO, 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	276.238	A	$15.32	52,031.657	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 Dwayne L. Hyzak report on the Form 4 for MSIF?

The Form 4 reports the acquisition of 276.238 shares of MSIF common stock on 08/01/2025 at a price of $15.32 per share.

How were the MSIF shares acquired according to the filing?

The shares were acquired under a dividend reinvestment plan and the transaction is noted as exempt under Rule 16a-11.

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

After the reported transaction the filing shows the reporting person beneficially owned 52,031.657 shares in direct ownership form.

What roles does the reporting person hold at MSIF?

The reporting person, Dwayne L. Hyzak, is listed as a Director and as CEO, SMD (an officer title) in the Form 4.

When was the Form 4 signed and by whom?

The Form 4 was signed by Jason B. Beauvais, Attorney-in-Fact on 08/18/2025.