Director JoEllen Legg adds 580 Reaves Utility (UTG) shares

Rhea-AI Filing Summary

Director JoEllen Legg of Reaves Utility Income Fund reported an open-market purchase of 580 Common Shares of Beneficial Interest at $42.62 per share. After this transaction, she directly holds 4,095.76 common shares of the fund.

Insider Trade Summary

Net Buyer: 580 shares ($24,720)

Net Buy 1 txn

Insider Legg JoEllen

Role null

Bought 580 shs ($25K)

Type	Security	Shares	Price	Value
Purchase	Common Shares of Beneficial Interest	580	$42.62	$25K

Holdings After Transaction: Common Shares of Beneficial Interest — 4,095.76 shares (Direct, null)

Footnotes (1)

Key Figures

Shares purchased: 580 shares Purchase price: $42.62 per share Total holdings after trade: 4,095.76 shares +1 more

4 metrics

Shares purchased 580 shares Open-market purchase of Common Shares of Beneficial Interest

Purchase price $42.62 per share Transaction price for the June 24, 2026 buy

Total holdings after trade 4,095.76 shares Common shares directly owned following the transaction

Net buy shares 580 shares Net buy direction in transactionSummary

Key Terms

Common Shares of Beneficial Interest, open-market purchase, Form 4

3 terms

Common Shares of Beneficial Interest financial

"security_title: Common Shares of Beneficial Interest"

Common Shares of Beneficial Interest are units that represent ownership in a company or organization, like owning a piece of a pie. They give investors voting rights and a chance to share in profits, making them important for those looking to invest and have a say in how the organization is run.

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.

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/25/2026 - 04:29 PM Accepted by SEC EDGAR 06/25/2026 - 04:28 PM Learn about SEC filing dates

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^*

Legg JoEllen

(Last) (First) (Middle)

1700 BROADWAY

SUITE 2100

(Street)

DENVER COLORADO 80290

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
REAVES UTILITY INCOME FUND [ UTG ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Shares of Beneficial Interest	06/24/2026		P		580	A	$42.62	4,095.76	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/ JoEllen Legg	06/25/2026
	** 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)

FAQ

What insider transaction did UTG director JoEllen Legg report?

JoEllen Legg reported buying 580 UTG common shares. She made an open-market purchase of Common Shares of Beneficial Interest at $42.62 per share, increasing her direct holdings to 4,095.76 shares in Reaves Utility Income Fund.

At what price did JoEllen Legg buy UTG shares in this Form 4?

She bought the shares at $42.62 each. The Form 4 shows an open-market purchase of 580 Common Shares of Beneficial Interest at a transaction price of $42.6200 per share on June 24, 2026.

How many UTG shares does JoEllen Legg own after this transaction?

She directly owns 4,095.76 UTG common shares after the trade. The Form 4 reports total shares following the transaction of 4,095.7600 Common Shares of Beneficial Interest held directly by the director.

Was the UTG insider transaction a purchase or a sale?

The UTG insider transaction was a purchase. The Form 4 lists transaction code P and describes it as an open-market purchase, with the transaction_direction field identifying it clearly as a buy of 580 common shares.

Is JoEllen Legg’s ownership in UTG direct or indirect?

Her ownership in this filing is reported as direct. The transaction is marked with ownership_code D and direct_or_indirect D, indicating these 4,095.76 Common Shares of Beneficial Interest are held directly rather than through another entity.