[Form 4] Liberty All-Star Equity Fund Insider Trading Activity

Rhea-AI Filing Summary

Insider purchase reported: Mark T. Haley, President and officer of Liberty All-Star Equity Fund (ticker USA), reported a purchase of 1,500 shares of the funds Shares of Beneficial Interest on 09/09/2025 at a reported price of $6.58 per share. After the transaction, Haley beneficially owned 156,470.821 shares, held directly. The filing notes totals include dividend reinvestment. The Form 4 is a routine Section 16 disclosure showing an officer increasing direct ownership; no derivative transactions or other securities classes are reported.

Positive

• Officer purchase disclosed: President Mark T. Haley added 1,500 shares at $6.58, increasing his direct beneficial ownership to 156,470.821 shares.

Negative

• None.

Insights

Financial Analyst

TL;DR Insider purchase of 1,500 shares at $6.58 increases the presidents direct stake to 156,470.821 shares; a routine, modest insider buy.

The purchase is small relative to institutional holdings but signals the president added to his direct holdings via an open-market activity coded "P." The price of $6.58 and the resulting total share count are explicit in the filing. No derivatives, dispositions, or other material transactions are disclosed. Impact on valuation or control is negligible based on the disclosed size.

Corporate Governance Expert

TL;DR Form 4 documents a compliant insider acquisition; disclosure is complete and shows direct beneficial ownership post-transaction.

The report follows Section 16 reporting requirements and is signed by the reporting person. The filing includes a note that totals include dividend reinvestment. There are no indications of related-party transfers, option exercises, or rule 10b5-1 plan markings. From a governance standpoint, this is a standard, routine disclosure with no adverse governance signals.

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^*

HALEY MARK T

(Last) (First) (Middle)

C/O LIBERTY ALL-STAR FUNDS

1290 BROADWAY, SUITE 1000

(Street)

DENVER CO 80203

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LIBERTY ALL STAR EQUITY FUND [ USA ]

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

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

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

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
Shares of Beneficial Interest	09/09/2025		P		1,500	A	$6.58	156,470.821(1)	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:

1. Totals include dividend reinvestment.

	/s/ Mark T. Haley	09/09/2025
	** 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 transaction did Mark T. Haley report on Form 4 for USA?

He reported a purchase of 1,500 shares of Shares of Beneficial Interest on 09/09/2025 at a price of $6.58 per share.

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

The filing shows 156,470.821 shares beneficially owned following the reported transaction.

Was this transaction a purchase, sale, or derivative event?

This was a purchase (code P) of non-derivative shares; no derivative securities were reported.

Is the ownership direct or indirect according to the Form 4?

The ownership is reported as Direct (D) in the filing.

Does the filing note any special execution plan or dividend reinvestment?

The filing includes an explanation that totals include dividend reinvestment; there is no indication the trade was under a 10b5-1 plan.