Major PSBD holder Martin C. Bicknell boosts stake with open-market buys

Filing Impact

(Very High)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

Palmer Square Capital BDC Inc. insider activity centers on indirect open-market buying. Entities associated with major holder Martin C. Bicknell, notably MCHC, LLC, purchased a total of 46,988 shares of common stock in open-market transactions at prices around $10.79–$10.87 per share.

Following these buys, MCHC, LLC held 231,988 shares indirectly on behalf of Bicknell. Separate lines disclose previously reported indirect holdings of 1,562,896 shares by 1248 Holdings, LLC and 1,391,817 shares by BFFV, LLC, reflecting his total beneficial ownership through multiple controlled entities.

Insider Trade Summary

Net Buyer: 46,988 shares ($508,220)

Net Buy 5 txns

Insider Bicknell Martin C

Role null

Bought 46,988 shs ($508K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	1,988	$10.80	$21K
Purchase	Common Stock	30,000	$10.79	$324K
Purchase	Common Stock	15,000	$10.87	$163K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 231,988 shares (Indirect, By MCHC, LLC)

Footnotes (1)

Mr. Bicknell is the sole member of MCHC, LLC and may be deemed to beneficially own, indirectly, the shares held by MCHC, LLC. The price reported in Column 4 for the 5/29/2026 transaction is a weighted average purchase price. These shares were purchased in multiple transactions at prices ranging from $10.7900 to $10.9100, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. The price reported in Column 4 for the 6/5/2026 transaction is a weighted average purchase price. These shares were purchased in multiple transactions at prices ranging from $10.7650 to $10.8400, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. The price reported in Column 4 for the 6/8/2026 transaction is a weighted average purchase price. These shares were purchased in multiple transactions at prices ranging from $10.7650 to $10.8000, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. Mr. Bicknell controls 1248 Holdings, LLC and may be deemed to beneficially own, indirectly, the shares held by 1248 Holdings, LLC. This line reflects securities previously reported as indirectly beneficially owned by the reporting person and is included solely to reflect the reporting person's total beneficial ownership following the transactions reported herein. Mr. Bicknell is the Elected Manager of each of the entities that collectively own all of the outstanding membership interests of BFFV, LLC and may be deemed to beneficially own, indirectly, the shares held by BFFV, LLC. This line reflects securities previously reported as indirectly beneficially owned by the reporting person and is included solely to reflect the reporting person's total beneficial ownership following the transactions reported herein.

Key Figures

Total shares bought: 46,988 shares Purchase price 5/29/2026: $10.8700 per share Purchase price 6/5/2026: $10.7900 per share +4 more

7 metrics

Total shares bought 46,988 shares Net open-market purchases reported in this Form 4

Purchase price 5/29/2026 $10.8700 per share 15,000-share open-market purchase by MCHC, LLC

Purchase price 6/5/2026 $10.7900 per share 30,000-share open-market purchase by MCHC, LLC

Purchase price 6/8/2026 $10.8000 per share 1,988-share open-market purchase by MCHC, LLC

MCHC, LLC holdings 231,988 shares Indirect PSBD common stock held after 6/8/2026 trade

1248 Holdings, LLC holdings 1,562,896 shares Indirect PSBD common stock beneficially owned as of 5/29/2026

BFFV, LLC holdings 1,391,817 shares Indirect PSBD common stock beneficially owned as of 5/29/2026

Key Terms

open-market purchase, beneficially own, indirectly, weighted average purchase price, indirectly beneficially owned, +1 more

5 terms

open-market purchase financial

"transaction_action: open-market purchase"

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

beneficially own, indirectly financial

"may be deemed to beneficially own, indirectly, the shares held"

weighted average purchase price financial

"The price reported ... is a weighted average purchase price"

The weighted average purchase price is the average cost per share you paid across multiple buys, calculated so larger purchases count more than smaller ones. Imagine buying apples at different prices: the overall price you effectively paid depends on how many apples you bought at each price. Investors use it to measure true cost basis, calculate gains or losses, decide when to sell, and manage taxes and portfolio performance.

indirectly beneficially owned financial

"securities previously reported as indirectly beneficially owned"

ten percent owner regulatory

"is_ten_percent_owner: 1"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/30/2026 - 04:04 PM Accepted by SEC EDGAR 06/30/2026 - 04:04 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
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^*

Bicknell Martin C

(Last)

(First)

(Middle)

5700 W. 112TH STREET

SUITE 500

(Street)

OVERLAND PARK

KANSAS

66211

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Palmer Square Capital BDC Inc. [ PSBD ]

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

Director	X	10% Owner
Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/29/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/29/2026		P		15,000	A	$10.87	200,000	I	By MCHC, LLC⁽¹⁾⁽²⁾
Common Stock	06/05/2026		P		30,000	A	$10.79	230,000	I	By MCHC, LLC⁽¹⁾⁽³⁾
Common Stock	06/08/2026		P		1,988	A	$10.8	231,988	I	By MCHC, LLC⁽¹⁾⁽⁴⁾
Common Stock								1,562,896	I	By 1248 Holdings, LLC⁽⁵⁾
Common Stock								1,391,817	I	By BFFV, LLC⁽⁶⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Mr. Bicknell is the sole member of MCHC, LLC and may be deemed to beneficially own, indirectly, the shares held by MCHC, LLC.

2. The price reported in Column 4 for the 5/29/2026 transaction is a weighted average purchase price. These shares were purchased in multiple transactions at prices ranging from $10.7900 to $10.9100, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

3. The price reported in Column 4 for the 6/5/2026 transaction is a weighted average purchase price. These shares were purchased in multiple transactions at prices ranging from $10.7650 to $10.8400, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

4. The price reported in Column 4 for the 6/8/2026 transaction is a weighted average purchase price. These shares were purchased in multiple transactions at prices ranging from $10.7650 to $10.8000, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

5. Mr. Bicknell controls 1248 Holdings, LLC and may be deemed to beneficially own, indirectly, the shares held by 1248 Holdings, LLC. This line reflects securities previously reported as indirectly beneficially owned by the reporting person and is included solely to reflect the reporting person's total beneficial ownership following the transactions reported herein.

6. Mr. Bicknell is the Elected Manager of each of the entities that collectively own all of the outstanding membership interests of BFFV, LLC and may be deemed to beneficially own, indirectly, the shares held by BFFV, LLC. This line reflects securities previously reported as indirectly beneficially owned by the reporting person and is included solely to reflect the reporting person's total beneficial ownership following the transactions reported herein.

	/s/ Martin C. Bicknell	06/30/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Martin C. Bicknell report for PSBD?

Martin C. Bicknell reported indirect open-market purchases of PSBD common stock through MCHC, LLC. Across three trades, the entity bought 46,988 shares at prices around $10.79–$10.87 per share, increasing its indirectly beneficially owned position in Palmer Square Capital BDC Inc.

How many PSBD shares did MCHC, LLC buy and at what prices?

MCHC, LLC bought 46,988 PSBD shares in three open-market purchases. The trades included 15,000 shares at $10.87, 30,000 shares at $10.79, and 1,988 shares at $10.80, with each reported price disclosed as a weighted average purchase price for multiple executions.

What are Martin C. Bicknell’s indirect PSBD holdings after these transactions?

After the reported purchases, MCHC, LLC held 231,988 PSBD shares indirectly for Martin C. Bicknell. Additional lines show previously reported indirect holdings of 1,562,896 shares via 1248 Holdings, LLC and 1,391,817 shares via BFFV, LLC, reflecting his broader beneficial ownership position.

Were the PSBD purchase prices single trades or weighted averages?

The reported PSBD purchase prices are weighted averages for multiple trades. Footnotes explain that the 5/29, 6/5, and 6/8 transactions were executed in numerous lots within stated price ranges, with full price breakdowns available upon request to the issuer or SEC staff.

Does the PSBD Form 4 show any sales or only insider purchases?

The PSBD Form 4 shows only insider purchases and no sales. Transaction data lists three open-market purchases totaling 46,988 shares of common stock and no dispositions, producing a net-buy direction for Martin C. Bicknell’s indirectly held position through MCHC, LLC.