Neuberger High Yield manager exercises stock rights
Neuberger High Yield Strategies Fund Inc.'s portfolio manager Joseph Lind acquired additional common shares by fully exercising transferable subscription rights from the fund’s rights offering.
Rhea-AI Filing Summary
Neuberger High Yield Strategies Fund Inc.'s portfolio manager Joseph Lind acquired additional common shares by fully exercising transferable subscription rights from the fund’s rights offering. He exercised rights to obtain 12,833 shares at a final subscription price of $6.50 per share, bringing his direct holdings to 45,333 shares.
The rights were issued one-for-one to common stockholders of record as of March 23, 2026, and allowed holders to buy one new share for every three rights. Lind also subscribed for extra shares through the over-subscription privilege, with allocations determined after the April 15, 2026 subscription period expired.
Positive
- None.
Negative
- None.
Insider Trade Summary
12,833 shares exercised/converted
Exercise
2 txns
Insider
Lind Joseph
Role
Insider
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| In-the-Money Exercise | Transferable Subscription Rights with Oversubscription Priv | 12,833 | $0.00 | $0.00 |
| In-the-Money Exercise | Common Stock | 12,833 | $6.50 | $83K |
Holdings After Transaction:
Transferable Subscription Rights with Oversubscription Priv — 0 contracts (Direct);
Common Stock — 45,333 shares (Direct)
Footnotes (3)
- F1. Neuberger High Yield Strategies Fund Inc. (the "Fund") issued transferable subscription rights ("Rights") to its common stockholders of record as of the close of business on March 23, 2026 (the "Record Date") entitling the holders of these Rights to purchase additional shares of common stock of the Fund (the "Common Stock"). The holders of Common Stock of record on the Record Date ("Record Date Stockholders") were entitled to subscribe for additional shares of Common Stock at a discount to the market price of the Common Stock. The Fund distributed to Record Date Stockholders one Right for each share of Common Stock held on the Record Date. The Rights entitle their holders to purchase one new share of Common Stock for every three Rights held (1 for 3).
- F2. Record Date Stockholders who fully exercised their Rights were entitled to subscribe, subject to certain limitations and subject to allotment, for additional shares of Common Stock which were not subscribed for (the "Over-Subscription Privilege"). The reporting person fully exercised all Rights received and subscribed for additional shares of Common Stock pursuant to the Over-Subscription Privilege, subject to the pro rata allocation of available shares of Common Stock. Fractional shares of Common Stock were not issued. The subscription period commenced on the Record Date and expired on April 15, 2026. On April 23, 2026, the third-party subscription agent for the Rights Offering determined the allocations to be made to the Record Date Stockholders who exercised their Over-Subscription Privilege. Shares reported include shares acquired through the Oversubscription Privilege.
- F3. The final subscription price of $6.50 per share of Common Stock was determined based upon the terms of the offer. The Common Stock subscribed for will be issued after receipt of all stockholder payments.
Key Figures
Shares acquired: 12,833 shares
Subscription price: $6.50 per share
Post-transaction holdings: 45,333 shares
+3 more
6 metrics
Shares acquired
12,833 shares
Common stock from subscription rights exercise
Subscription price
$6.50 per share
Final subscription price for common stock
Post-transaction holdings
45,333 shares
Common stock held directly after exercise
Rights ratio
1-for-3
One new share for every three subscription rights
Record date
March 23, 2026
Common stockholders eligible for subscription rights
Subscription expiry
April 15, 2026
End of rights subscription period
Key Terms
Transferable Subscription Rights with Oversubscription Priv, Over-Subscription Privilege, Record Date Stockholders, subscription period, +1 more
5 terms
Transferable Subscription Rights with Oversubscription Priv financial
"security_title: "Transferable Subscription Rights with Oversubscription Priv""
Over-Subscription Privilege financial
"entitled to subscribe, subject to certain limitations, for additional shares of Common Stock (the "Over-Subscription Privilege")"
An over-subscription privilege is a feature of a share offering that lets existing investors request more shares than their initial entitlement, with any extra allocation given only if other investors do not take their full allotment. It matters because it gives shareholders a chance to increase their stake and avoid losing ownership percentage, much like ordering extra slices at a party in case others pass—however, receiving the extras is not guaranteed.
Record Date Stockholders financial
"The holders of Common Stock of record on the Record Date ("Record Date Stockholders") were entitled to subscribe"
subscription period financial
"The subscription period commenced on the Record Date and expired on April 15, 2026."
A subscription period is the set number of days when investors can sign up to buy newly offered securities, such as shares or bonds, at a specified price. Think of it like a limited-time sale window: if you want to join the offering you must commit during that window, and the number of applicants can affect how many units each investor receives and the final price outcome. For investors, it matters because timing, demand and allocation during this period directly influence potential ownership stake and short-term position value.
Rights Offering financial
"the third-party subscription agent for the Rights Offering determined the allocations"
A rights offering is a way for a company to raise additional money by giving existing shareholders the opportunity to buy more shares at a discounted price before they are offered to the public. It’s similar to a special sale where current owners get the first chance to buy extra items at a lower cost, allowing them to increase their investment if they choose. This process matters to investors because it can affect the value of their holdings and their ability to buy new shares at favorable terms.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Joseph Lind report at Neuberger High Yield Strategies Fund (NHS)?
Joseph Lind reported acquiring 12,833 shares of common stock by exercising transferable subscription rights at $6.50 per share. This exercise came from a rights offering and increased his direct holdings to 45,333 shares of Neuberger High Yield Strategies Fund.
How did the Neuberger High Yield Strategies Fund (NHS) rights offering work for stockholders?
Common stockholders of record on March 23, 2026 received one transferable subscription right for each share held. Every three rights allowed purchase of one new common share at a discount, with a final subscription price of $6.50 per share set under the offer’s terms.
What is the over-subscription privilege mentioned in the NHS Form 4 filing?
Record Date Stockholders who fully exercised their basic rights could request additional common shares under an over-subscription privilege. These extra shares came from any unsubscribed amount and were allocated on a pro rata basis after the April 15, 2026 subscription period ended.
What were the key dates for the Neuberger High Yield Strategies Fund (NHS) rights offering?
The record date for determining eligible common stockholders was March 23, 2026. The subscription period for exercising rights and over-subscription requests ran from that date until April 15, 2026, with the subscription agent determining final allocations on April 23, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
