WhiteHorse director-linked entities buy more shares

WhiteHorse Finance, Inc. director-associated entities increased their indirect holdings through two open-market purchases of common stock.

Rhea-AI Filing Summary

WhiteHorse Finance, Inc. director-associated entities increased their indirect holdings through two open-market purchases of common stock. On June 18, 2026, entities linked to director John Bolduc bought a total of 15,380 shares at a weighted average price of $6.49 per share. After these transactions, the entities collectively held 317,297 shares of WhiteHorse Finance common stock indirectly. The filing notes these shares are owned by Bolduc Family LP and Bolduc Investments X, LLC, and Mr. Bolduc disclaims beneficial ownership except to the extent of his pecuniary interest.

Insider Trade Summary

Net Buyer: 15,380 shares

Net Buy 2 txns

Insider BOLDUC JOHN

Role Director

Bought 15,380 shs ($100K)

Type	Security	Shares	Price	Value
Purchase	Common Stock, par value $0.001 per share	7,690	$6.49	$50K
Purchase	Common Stock, par value $0.001 per share	7,690	$6.49	$50K

Holdings After Transaction: Common Stock, par value $0.001 per share — 313,890 shares (Indirect, See Footnote)

Footnotes (4)

1. F1. 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. F2. 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. F3. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.45 to $6.50, 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. F4. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.45 to $6.50, 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.

Key Figures

Total shares purchased: 15,380 shares Shares per transaction: 7,690 shares Weighted average price: $6.49 per share +2 more

5 metrics

Total shares purchased 15,380 shares Two open-market purchases on June 18, 2026

Shares per transaction 7,690 shares Each of two reported purchases

Weighted average price $6.49 per share Reported for each purchase, with trades from $6.45–$6.50

Indirect holdings after first purchase 313,890 shares Total following the first June 18, 2026 transaction

Indirect holdings after all purchases 317,297 shares Total following both June 18, 2026 transactions

Key Terms

open-market purchase, weighted average price, beneficial ownership, pecuniary interest, +1 more

5 terms

open-market purchase financial

"entities linked to director John Bolduc bought a total of 15,380 shares at a weighted average price in open-market purchase transactions"

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

"the entities collectively held 317,297 shares of WhiteHorse Finance common stock indirectly"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did WhiteHorse Finance (WHF) report for John Bolduc?

WhiteHorse Finance reported that entities associated with director John Bolduc made two open-market purchases totaling 15,380 shares of common stock on June 18, 2026 at a weighted average price of $6.49 per share, increasing their indirect holdings.

How many WhiteHorse Finance (WHF) shares are held after the latest Form 4?

Following the reported transactions, entities linked to director John Bolduc hold 317,297 shares of WhiteHorse Finance common stock indirectly. This total reflects the addition of 15,380 shares purchased in two open-market transactions on June 18, 2026.

Were John Bolduc’s recent WhiteHorse Finance (WHF) trades open-market purchases?

Yes. The Form 4 identifies both transactions as open-market purchases of WhiteHorse Finance common stock, coded “P.” Each purchase involved 7,690 shares at a weighted average price of $6.49, executed on June 18, 2026.

Through which entities were the WhiteHorse Finance (WHF) shares held and purchased?

The filing explains that the reported shares are owned by Bolduc Family LP and Bolduc Investments X, LLC. Director John Bolduc is affiliated with these entities but disclaims beneficial ownership of their shares except to the extent of his pecuniary interest.

What price range applied to John Bolduc-related WHF share purchases?

The Form 4 states that the reported $6.49 price is a weighted average. The actual trades were executed in multiple transactions at prices ranging from $6.45 to $6.50 per share, according to the detailed footnotes in the filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/18/2026 - 08:25 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^*

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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2026

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 Stock, par value $0.001 per share	06/18/2026		P		7,690	A	$6.49(3)	317,297	I	See Footnote(1)
Common Stock, par value $0.001 per share	06/18/2026		P		7,690	A	$6.49(4)	313,890	I	See 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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount 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 $6.45 to $6.50, 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 $6.45 to $6.50, 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.

	/s/ Marco Collazos, Attorney-in-Fact for John Bolduc	06/18/2026
	** 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)