Nuveen Churchill (NCDL) Officer Reports 5,000-Share Purchase and 13,675-Share Disposal

Rhea-AI Filing Summary

Insider transaction by Nuveen Churchill Direct Lending Corp. (NCDL) officer. The Form 4 shows Vichness Shaul, identified as an officer (Chief Financial Officer/Treasurer), reporting transactions dated 09/16/2025. The filing records a purchase (Code P) of 5,000 shares of the issuer's common stock at $14.85 per share. After that transaction, the filing reports 15,000 shares beneficially owned indirectly by a trust. The form also records a disposition of 13,675 shares of common stock (no price shown for that disposition line). The Form 4 was submitted under power of attorney (reference file vichnesspoa.txt) and signed by John McCally under POA on 09/16/2025. All details above are taken directly from the submitted Form 4.

Positive

• Officer identified and transactions disclosed, showing compliance with Section 16 reporting requirements
• Purchase price provided for the 5,000-share acquisition: $14.85 per share
• Filing executed under power of attorney with a referenced POA file (vichnesspoa.txt) and signature

Negative

• Disposition lacks a reported price (13,675 shares disposed of) which limits transparency
• Limited contextual detail about the trust or rationale for the disposal/purchase is provided in the filing

Insights

Financial Analyst

TL;DR: Officer-level purchase of 5,000 shares at $14.85 with a near-simultaneous reported disposition; limited standalone market impact.

The filing documents a purchase of 5,000 common shares at $14.85 and a reported disposal of 13,675 shares, with 15,000 shares shown as beneficially owned indirectly via a trust after the purchase. The reporting person is identified as an officer (Chief Financial Officer/Treasurer). The submission was executed under a power of attorney. The Form 4 provides transaction counts and price for the purchase but does not show a price for the disposal line or context explaining the transfer to/from the trust. These are routine insider reporting items; materiality depends on total outstanding shares and other holdings, which are not provided in this filing.

Corporate Governance Expert

TL;DR: Proper Form 4 disclosure completed by POA; shows officer-level activity and indirect trust ownership but lacks explanatory detail.

The report identifies Vichness Shaul as an officer (CFO/Treasurer) and discloses a purchase and a disposal on the same filing date, with indirect beneficial ownership via a trust noted. The filing includes a reference to a POA document (vichnesspoa.txt) and is signed under POA, meeting signature requirements. The document does not include narrative explanation for the disposal or specifics of the trust arrangement, which limits governance-related interpretation. Based solely on the form's contents, the disclosure appears procedurally compliant but offers limited context for the transactions.

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
Estimated average burden
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^*

Vichness Shaul

(Last) (First) (Middle)

375 PARK AVENUE, 9TH FLOOR

(Street)

NEW YORK NY 10152

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Nuveen Churchill Direct Lending Corp. [ NCDL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Off./Treasurer

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

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	09/16/2025		P		5,000	A	$14.85	15,000	I	By Trust
Common Stock								13,675	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:

Remarks:

vichnesspoa.txt

	John McCally/signed under POA	09/16/2025
	** 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 insider transactions does the Form 4 for NCDL (Nuveen Churchill Direct Lending Corp.) report?

The Form 4 reports a purchase of 5,000 common shares at $14.85 and a separate line showing a disposition of 13,675 common shares, both dated 09/16/2025.

Who is the reporting person on the NCDL Form 4 and what is their role?

The reporting person is Vichness Shaul, identified on the form as an officer with the title Chief Financial Off./Treasurer.

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

Following the reported purchase, the filing shows 15,000 shares beneficially owned indirectly by a trust.

Was the Form 4 signed directly by the reporting person?

The Form 4 was signed under power of attorney; the signature block shows John McCally/signed under POA dated 09/16/2025 and references vichnesspoa.txt.

Is the purchase price disclosed for all transactions on the Form 4?

No; the purchase of 5,000 shares lists a price of $14.85, but the disposition of 13,675 shares does not show a price on the form.