TSI director exercises rights to add 5,400 shares
TCW Strategic Income Fund director Victoria B. Rogers increased her direct holdings by exercising subscription rights in a rights offering.
Rhea-AI Filing Summary
TCW Strategic Income Fund director Victoria B. Rogers increased her direct holdings by exercising subscription rights in a rights offering. She exercised 16,200 subscription rights into 5,400 shares of common stock at a final subscription price of $4.47 per share, bringing her direct ownership to 21,600 shares. The rights were originally distributed one right per share held as of February 19, 2026, allowing stockholders to buy one new share for every three rights. The offering was oversubscribed, and final share allocations, including Rogers’ 5,400 shares, were confirmed on March 27, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary
16,200 shares exercised/converted
Exercise
2 txns
Insider
ROGERS VICTORIA B
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| In-the-Money Exercise | Subscription Rights for Shares of Common Stock (right to buy | 16,200 | $0.00 | $0.00 |
| In-the-Money Exercise | Common Stock | 5,400 | $4.47 | $24K |
Holdings After Transaction:
Subscription Rights for Shares of Common Stock (right to buy — 0 contracts (Direct);
Common Stock — 21,600 shares (Direct)
Footnotes (4)
- F1. TCW Strategic Income Fund, Inc. (NYSE: TSI) (the "Fund") issued to the stockholders of record (the "Record Date Stockholders") at the close of business on February 19, 2026 (the "Record Date") transferable rights (each a "Right" and, collectively, the "Rights") entitling such Record Date Stockholders to subscribe for shares of common stock, par value $0.01 per share (the "Common Stock"), of the Fund (the "Offer") at a discount to the market price of the shares of Common Stock. The Fund distributed to Record Date Stockholders one Right for each share of Common Stock held on the Record Date. Record Date Stockholders were entitled to purchase one new share of Common Stock for every three Rights held (1-for-3); however, any Record Date Stockholder who owned fewer than three shares of Common Stock as of the Record Date was entitled to subscribe for one share of Common Stock. Fractional shares of Common Stock were not issued.
- F2. (Continued from footnote 1)The subscription period commenced on the Record Date and expired on March 18, 2026.
- F3. The final subscription price of $4.47 per share of Common Stock was determined based upon the terms of the Offer. Record Date Stockholders who exercised all of their primary subscription Rights (other than those Rights to acquire less than one share of Common Stock that could not be exercised) were eligible for an over-subscription privilege entitling Record Date Stockholders to subscribe for additional shares of Common Stock not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares of Common Stock available. Accordingly, the shares of Common Stock subscribed for pursuant to the over-subscription privilege of the Offer were allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of shares of Common Stock they owned on Record Date.
- F4. (Continued from footnote 3)The number of shares of Common Stock acquired was confirmed to exercising Rights holders on March 27, 2026, following the pro-ration and allocation of shares of Common Stock pursuant to the over-subscription privilege.
Key Figures
Rights exercised: 16,200 rights
Shares acquired: 5,400 shares
Subscription price: $4.47 per share
+5 more
8 metrics
Rights exercised
16,200 rights
Subscription rights exercised on March 27, 2026
Shares acquired
5,400 shares
Common stock received from exercising rights
Subscription price
$4.47 per share
Final subscription price for the rights offering
Post-transaction holdings
21,600 shares
Direct common stock owned after exercise
Rights ratio
1-for-3
One new share for every three rights held
Record date
February 19, 2026
Date stockholders received one right per share held
Subscription expiry
March 18, 2026
Expiration of the rights subscription period
Allocation confirmation
March 27, 2026
Date final common share allocations were confirmed
Key Terms
subscription rights, over-subscription privilege, Record Date Stockholders, rights offering, +1 more
5 terms
subscription rights financial
"issued to the stockholders of record ... transferable rights entitling such Record Date Stockholders to subscribe"
Subscription rights are short-term privileges given to existing shareholders to buy additional new shares before the general public, typically at a set price and in proportion to their current holdings. Think of it as getting a coupon for first dibs on extra slices of a pizza so your share of the pie doesn’t shrink; exercising them can be a cheaper way to maintain your ownership and voting power, while ignoring them can reduce your stake and potential future earnings.
over-subscription privilege financial
"eligible for an over-subscription privilege entitling Record Date Stockholders to subscribe for additional shares"
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 regulatory
"issued to the stockholders of record (the "Record Date Stockholders") at the close of business on February 19, 2026"
rights offering financial
"entitling such Record Date Stockholders to subscribe for shares of common stock... of the Fund (the "Offer")"
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.
pro rata financial
"shares ... were allocated pro rata among those fully exercising record date shareholders who over-subscribed"
Pro rata means dividing or distributing something proportionally based on a specific factor, such as ownership or contribution. For example, if an investor owns 10% of a company, they would receive 10% of any dividends or benefits allocated. This approach ensures everyone gets their fair share relative to their stake or input, helping investors understand how benefits, costs, or responsibilities are fairly shared.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did TSI director Victoria B. Rogers report on this Form 4?
Victoria B. Rogers reported exercising subscription rights to acquire 5,400 shares of TCW Strategic Income Fund common stock. The shares were obtained by exercising 16,200 rights in a rights offering, increasing her direct holdings to 21,600 shares after the transaction.
How many subscription rights did Victoria B. Rogers exercise in the TSI rights offering?
She exercised 16,200 subscription rights that entitled her to purchase new common shares. Under the 1-for-3 structure, these rights were converted into 5,400 shares of TCW Strategic Income Fund common stock at the established subscription price of $4.47 per share.
How did the TCW Strategic Income Fund (TSI) rights offering work for stockholders?
Stockholders received one transferable right per share held on the February 19, 2026 record date. They could buy one new share for every three rights (1-for-3) at $4.47 per share, with an over-subscription privilege for additional shares if the primary subscription was fully exercised.
When did the TSI rights offering subscription period begin and end?
The subscription period began on the February 19, 2026 record date and expired on March 18, 2026. Final allocations of common shares, including those acquired by Victoria B. Rogers, were confirmed on March 27, 2026 after pro rata distribution of over-subscription shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
