Entities tied to WhiteHorse (WHF) director add 25,170 shares

Filing Impact

(Moderate)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

WhiteHorse Finance director-linked entities increased their stake through open-market purchases of common stock. Entities associated with director John Bolduc bought a total of 25,170 shares of WhiteHorse Finance, Inc. common stock in a series of open-market transactions between March 12 and March 16, 2026, at weighted average prices reported around $7.09–$7.15 per share.

The shares are held indirectly through Bolduc Family LP and Bolduc Investments X, LLC, and Bolduc disclaims beneficial ownership except to the extent of his pecuniary interest. Following these transactions, indirect holdings reported in the filing are shown at levels above 270,000 shares.

Insider Trade Summary

Net Buyer: 25,170 shares ($179,588)

Net Buy 6 txns

Insider BOLDUC JOHN

Role Director

Bought 25,170 shs ($180K)

Type	Security	Shares	Price	Value
Purchase	Common Stock, par value $0.001 per share	4,195	$7.12	$30K
Purchase	Common Stock, par value $0.001 per share	4,195	$7.13	$30K
Purchase	Common Stock, par value $0.001 per share	4,195	$7.14	$30K
Purchase	Common Stock, par value $0.001 per share	4,195	$7.14	$30K
Purchase	Common Stock, par value $0.001 per share	4,195	$7.14	$30K
Purchase	Common Stock, par value $0.001 per share	4,195	$7.14	$30K

Holdings After Transaction: Common Stock, par value $0.001 per share — 284,617 shares (Indirect, See Footnote)

Footnotes (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 $7.09 to $7.15, 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 $7.09 to $7.15, 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 $7.09 to $7.15, 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 $7.09 to $7.15, 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. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $7.11 to $7.15, 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 (7) 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 $7.10 to $7.15, 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 (8) to this Form 4.

Form 4 Insider Transactions: What Each Field Means →

03/16/2026 - 09:20 PM

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

33131

(City)

(State)

(Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, par value $0.001 per share	03/16/2026		P		4,195	A	$7.12⁽³⁾	284,617	I	See Footnote⁽¹⁾
Common Stock, par value $0.001 per share	03/16/2026		P		4,195	A	$7.13⁽⁴⁾	281,210	I	See Footnote⁽²⁾
Common Stock, par value $0.001 per share	03/13/2026		P		4,195	A	$7.14⁽⁵⁾	280,422	I	See Footnote⁽¹⁾
Common Stock, par value $0.001 per share	03/13/2026		P		4,195	A	$7.14⁽⁶⁾	277,015	I	See Footnote⁽²⁾
Common Stock, par value $0.001 per share	03/12/2026		P		4,195	A	$7.14⁽⁷⁾	276,227	I	See Footnote⁽¹⁾
Common Stock, par value $0.001 per share	03/12/2026		P		4,195	A	$7.14⁽⁸⁾	272,820	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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 $7.09 to $7.15, 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 $7.09 to $7.15, 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 $7.09 to $7.15, 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 $7.09 to $7.15, 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.

7. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $7.11 to $7.15, 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 (7) to this Form 4.

8. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $7.10 to $7.15, 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 (8) to this Form 4.

	/s/ Marco Collazos, Attorney-in-Fact for John Bolduc	03/16/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider buying did WHF report on this Form 4?

The Form 4 reports open-market purchases totaling 25,170 shares of WhiteHorse Finance, Inc. common stock. These trades occurred between March 12 and March 16, 2026, at weighted average prices in the $7.09–$7.15 per share range, increasing indirect holdings linked to director John Bolduc.

Who executed the WHF insider purchases disclosed in this filing?

The purchases are attributed to entities associated with director John Bolduc, specifically Bolduc Family LP and Bolduc Investments X, LLC. The filing notes that Bolduc disclaims beneficial ownership of shares held by these entities, except to the extent of his pecuniary interest in them.

How many WHF shares were bought and at what prices?

The filing shows six open-market purchase transactions totaling 25,170 shares of WhiteHorse Finance common stock. Reported weighted average prices are around $7.12–$7.14 per share, with footnotes indicating the actual trade prices ranged from $7.09 to $7.15 per share across the transactions.

Are the WHF shares held directly by director John Bolduc?

The shares are reported as indirectly owned, held by Bolduc Family LP and Bolduc Investments X, LLC. The Form 4 states that John Bolduc is associated with these entities but disclaims beneficial ownership of their shares, except for his pecuniary interest in those holdings.

What is John Bolduc’s reported WHF position after these transactions?

The Form 4 shows indirect ownership entries with share counts above 270,000 common shares following the reported purchases. Each transaction line lists a total shares figure after that trade, reflecting the updated indirect position held through the related entities associated with Bolduc.

What type of transactions are reported in this WHF Form 4?

All reported transactions are non-derivative open-market purchases of WhiteHorse Finance common stock, coded as “P” on the Form 4. There are six such purchase entries, and the transaction summary classifies them collectively as a net-buy of 25,170 shares with no sales reported.