[Form 4] MSC INCOME FUND, INC. Insider Trading Activity

Rhea-AI Filing Summary

John O. Niemann Jr., a director of MSC Income Fund, Inc. (MSIF), purchased 2,000 shares of the issuer's common stock on 09/23/2025 at a price of $13.75 per share. After the reported transaction, the filing shows he beneficially owned 34,367.471 shares in a direct ownership form. The Form 4 was signed by an attorney-in-fact on 09/24/2025.

Positive

• Director purchase disclosed: 2,000 shares acquired, demonstrating insider buying activity.
• Complete transaction details: date (09/23/2025), price ($13.75), and post-transaction beneficial ownership (34,367.471 shares) are provided.
• Proper filing signature: Form signed by attorney-in-fact on 09/24/2025 indicating procedural compliance.

Negative

• None.

Insights

Securities Analyst

TL;DR: Director purchased 2,000 shares at $13.75, modest direct ownership increase to 34,367.471 shares; routine insider buy disclosed on Form 4.

The Form 4 documents a straightforward open-market purchase by a director, increasing direct holdings by 2,000 shares. Transaction details are explicit: trade date 09/23/2025, price $13.75, and post-transaction beneficial ownership of 34,367.471 shares. No derivatives, dispositions, amendments, or additional arrangements were reported. The filing was duly signed by an attorney-in-fact on 09/24/2025.

Corporate Governance Expert

TL;DR: Insider acquisition by a director is disclosed properly; the filing presents no governance or compliance issues.

This disclosure identifies the reporting person as a director and shows a direct acquisition (code P) of 2,000 common shares at $13.75. The document follows Section 16 reporting conventions: transaction date, amount, price, ownership form, and signature are provided. There are no amendments or additional relationships reported beyond director status.

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).

1. Name and Address of Reporting Person^*

Niemann John O. Jr.

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/23/2025

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	09/23/2025		P		2,000	A	$13.75	34,367.471	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:

	/s/ Jason B. Beauvais, Attorney-in-Fact	09/24/2025
	** 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 John O. Niemann Jr. report on Form 4 for MSIF?

He reported a purchase of 2,000 shares of MSIF common stock on 09/23/2025 at a price of $13.75 per share.

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

The filing shows 34,367.471 shares beneficially owned following the reported transaction, in a direct ownership form.

What is the reporting person's relationship to MSIF?

The Form 4 identifies John O. Niemann Jr. as a director of MSC Income Fund, Inc.

When was the Form 4 signed and by whom?

The Form 4 was signed by an attorney-in-fact (/s/ Jason B. Beauvais) on 09/24/2025.

Does the Form 4 report any derivative transactions or dispositions?

No; the filing reports only a non-derivative purchase of common stock and contains no derivative transactions or disposals.