[Form 4] Oaktree Specialty Lending Corp Insider Trading Activity

Rhea-AI Filing Summary

Phyllis R. Caldwell, a director of Oaktree Specialty Lending Corp (OCSL), reported purchases on 09/15/2025 totaling 3,000 shares of common stock at prices ranging from $13.1884 to $13.1999. After these transactions she beneficially owned 21,000 shares. The Form 4 was signed by an attorney-in-fact on 09/16/2025.

Positive

• Director increased ownership by a net total of 3,000 shares on 09/15/2025
• Post-transaction holdings disclosed at 21,000 shares, improving transparency
• Form filed and signed (attorney-in-fact signature dated 09/16/2025), meeting disclosure requirements

Negative

• None.

Insights

Financial Analyst

TL;DR: Director purchased a small, clearly disclosed stake increase totaling 3,000 shares at about $13.19 per share.

The filing shows routine insider purchases by a director rather than a coordinated program disclosure; total new shares acquired equal 3,000 and the post-transaction holding is 21,000 shares. Transaction codes are "P", indicating open-market purchases. Given the disclosed sizes and prices, this is informational for ownership monitoring but not clearly material to valuation on its own.

Corporate Governance Expert

TL;DR: Disclosure is complete and timely; transactions were executed and the Form 4 is properly signed by an attorney-in-fact.

The report identifies the reporting person, relationship as a director, transaction date, and amounts acquired. The signature block shows execution by an attorney-in-fact on 09/16/2025. There are no indications of amendments or other governance issues in the form content provided.

09/16/2025 - 04:05 PM

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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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).

1. Name and Address of Reporting Person^*

CALDWELL PHYLLIS R

(Last) (First) (Middle)

C/O OAKTREE SPECIALTY LENDING CORP

333 SOUTH GRAND AVENUE, 28TH FLOOR

(Street)

LOS ANGELES CA 90071

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Oaktree Specialty Lending Corp [ OCSL ]

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)
09/15/2025

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, par value $0.01 per share	09/15/2025		P		2,000	A	$13.1884	20,000	D
Common Stock, par value $0.01 per share	09/15/2025		P		25	A	$13.19	20,025	D
Common Stock, par value $0.01 per share	09/15/2025		P		975	A	$13.1999	21,000	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/ Mary Gallegly, attorney-in-fact	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 are reported for OCSL in this Form 4?

Phyllis R. Caldwell reported purchases on 09/15/2025 totaling 3,000 shares of OCSL common stock.

How many shares does the reporting director own after the transactions?

The filing shows 21,000 shares beneficially owned following the reported transactions.

At what prices were the OCSL shares purchased?

Reported purchase prices ranged from $13.1884 to $13.1999 per share.

What is the reporting person’s relationship to OCSL?

The reporting person, Phyllis R. Caldwell, is identified as a Director of Oaktree Specialty Lending Corp.

When was the Form 4 signed and by whom?

The Form 4 bears a signature line showing /s/ Mary Gallegly, attorney-in-fact dated 09/16/2025.