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  4. [Form 4] WhiteHorse Finance, Inc. Insider Trading Activity

Director-linked entities boost WhiteHorse Finance (WHF) stake with 14,280-share open-market buy

Filing Impact
(Neutral)
Filing Sentiment
(Positive)
Form Type
4

Rhea-AI Filing Summary

WhiteHorse Finance director-related entities increased their stake through open-market purchases of common stock. Entities associated with director John Bolduc bought a total of 14,280 shares on June 4–5, 2026 at prices between $6.74 and $6.93 per share. Following these indirect acquisitions, the entities collectively held 309,607 shares of WhiteHorse Finance common stock. The filing notes that Mr. Bolduc disclaims beneficial ownership of shares held by Bolduc Family LP and Bolduc Investments X, LLC except to the extent of his pecuniary interest.

Positive

  • None.

Negative

  • None.
Insider BOLDUC JOHN
Role Director
Bought 14,280 shs ($97K)
Type Security Shares Price Value
Purchase Common Stock, par value $0.001 per share 3,570 $6.77 $24K
Purchase Common Stock, par value $0.001 per share 3,570 $6.76 $24K
Purchase Common Stock, par value $0.001 per share 3,570 $6.87 $25K
Purchase Common Stock, par value $0.001 per share 3,570 $6.88 $25K
Holdings After Transaction: Common Stock, par value $0.001 per share — 309,607 shares (Indirect, See Footnote)
Footnotes (1)
  1. Mr. Bolduc is the sole shareholder of the general partner of Bolduc Family LP, which owns the reported securities. Mr. Bolduc disclaims beneficial ownership of shares of common stock held by Bolduc Family LP, except to the extent of his pecuniary interest therein. Mr. Bolduc is a member of Bolduc Investments X, LLC, which owns the reported securities. Mr. Bolduc disclaims beneficial ownership of shares of common stock held by Bolduc Investments X, LLC, except to the extent of his pecuniary interest therein. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.75 to $6.81, inclusive. Mr. Bolduc undertakes to provide to WhiteHorse Finance, Inc., any security holder of WhiteHorse Finance, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote (3) to this Form 4. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.74 to $6.80, inclusive. Mr. Bolduc undertakes to provide to WhiteHorse Finance, Inc., any security holder of WhiteHorse Finance, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote (4) to this Form 4. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.81 to $6.91, inclusive. Mr. Bolduc undertakes to provide to WhiteHorse Finance, Inc., any security holder of WhiteHorse Finance, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote (5) to this Form 4. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.82 to $6.93, inclusive. Mr. Bolduc undertakes to provide to WhiteHorse Finance, Inc., any security holder of WhiteHorse Finance, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote (6) to this Form 4.
Shares purchased 14,280 shares Total open-market common shares bought on June 4–5, 2026
Purchase price range $6.74–$6.93 per share Footnotes describe multiple trades within these ranges
Weighted transaction prices $6.76, $6.77, $6.88, $6.87 per share Reported column prices for four 3,570-share purchases
Post-transaction holdings 309,607 shares Indirect common stock holdings after June 5, 2026 trades
Individual trade size 3,570 shares each Four separate non-derivative purchase entries
Net buy direction 14,280-share net buy transactionSummary shows net-buy with no sales
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.
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
beneficial ownership financial
"Mr. Bolduc disclaims beneficial ownership of shares of common stock held by Bolduc Family LP"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"except to the extent of his pecuniary interest therein."
indirect ownership financial
"ownership_type: indirect"

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What insider transactions did WhiteHorse Finance (WHF) report in this Form 4?
Entities associated with director John Bolduc reported open-market purchases of 14,280 shares of WhiteHorse Finance common stock on June 4–5, 2026. All transactions were indirect and involved common stock with a par value of $0.001 per share.

At what prices were the WhiteHorse Finance (WHF) shares purchased in this Form 4?
The reported purchases occurred at weighted average prices around $6.76–$6.88 per share, with detailed footnotes stating trade ranges from $6.74 up to $6.93. These prices reflect multiple trades bundled into averaged figures for SEC reporting.

How many WhiteHorse Finance (WHF) shares do the reporting entities hold after these transactions?
After the reported purchases, entities associated with John Bolduc collectively held 309,607 shares of WhiteHorse Finance common stock indirectly. This figure comes from the final line of the non-derivative transaction table showing total shares following the last transaction on June 5, 2026.

Are the WhiteHorse Finance (WHF) purchases in this Form 4 direct or indirect holdings?
All reported holdings are indirect. The shares are owned by Bolduc Family LP and Bolduc Investments X, LLC. The filing states John Bolduc is related to these entities but disclaims beneficial ownership except for his pecuniary interest in their holdings.

What do the weighted average price footnotes mean in the WhiteHorse Finance (WHF) Form 4?
Each reported transaction price is a weighted average of multiple trades executed within stated ranges, such as $6.74 to $6.80. The filing notes that detailed trade-by-trade price and share data are available to the company, its security holders, or SEC staff upon request.
SEC Form 4
FORM 4UNITED 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*
BOLDUC JOHN
(Last)(First)(Middle)
C/O WHITEHORSE FINANCE, INC.
1450 BRICKELL AVENUE, 31ST FLOOR
(Street)
MIAMI FLORIDA 33131
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
WhiteHorse Finance, Inc. [ WHF ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/04/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock, par value $0.001 per share06/05/2026P3,570A$6.77(3)309,607ISee Footnote(1)
Common Stock, par value $0.001 per share06/05/2026P3,570A$6.76(4)306,200ISee Footnote(2)
Common Stock, par value $0.001 per share06/04/2026P3,570A$6.87(5)306,037ISee Footnote(1)
Common Stock, par value $0.001 per share06/04/2026P3,570A$6.88(6)302,630ISee Footnote(2)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Mr. Bolduc is the sole shareholder of the general partner of Bolduc Family LP, which owns the reported securities. Mr. Bolduc disclaims beneficial ownership of shares of common stock held by Bolduc Family LP, except to the extent of his pecuniary interest therein.
2. Mr. Bolduc is a member of Bolduc Investments X, LLC, which owns the reported securities. Mr. Bolduc disclaims beneficial ownership of shares of common stock held by Bolduc Investments X, LLC, except to the extent of his pecuniary interest therein.
3. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.75 to $6.81, inclusive. Mr. Bolduc undertakes to provide to WhiteHorse Finance, Inc., any security holder of WhiteHorse Finance, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote (3) to this Form 4.
4. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.74 to $6.80, inclusive. Mr. Bolduc undertakes to provide to WhiteHorse Finance, Inc., any security holder of WhiteHorse Finance, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote (4) to this Form 4.
5. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.81 to $6.91, inclusive. Mr. Bolduc undertakes to provide to WhiteHorse Finance, Inc., any security holder of WhiteHorse Finance, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote (5) to this Form 4.
6. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.82 to $6.93, inclusive. Mr. Bolduc undertakes to provide to WhiteHorse Finance, Inc., any security holder of WhiteHorse Finance, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote (6) to this Form 4.
/s/ Marco Collazos, Attorney-in-Fact for John Bolduc06/05/2026
** Signature of Reporting PersonDate
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