STAHL MURRAY 4

What Happened
Murray Stahl, reported as a 10% owner of RENN Fund, Inc. (RCG), made a series of purchases on March 24, 2026, acquiring a total of 1,134 shares. The lots were mainly bought at $3.20 per share, with one 180-share lot at $2.20, for an aggregate cash outlay of roughly $3,449. These were purchases (code P on the Form 4), which are generally treated as a direct acquisition of stock rather than a sale.

Key Details

• Transaction date: 2026-03-24; Filing date: 2026-03-25 (timely within required Form 4 window).
• Lots reported: 360 @ $3.20; 18 @ $3.20; 180 @ $3.20; 180 @ $2.20; 296 @ $3.20; 18 @ $3.20; 82 @ $3.20.
• Total shares acquired: 1,134; approximate total cost: $3,449.
• Shares owned after transaction: filing includes indirect-account amounts; footnote F1 states this does not include 157,454 shares held directly by Mr. Stahl.
• Footnote F2: For each indirect account, Mr. Stahl disclaims beneficial ownership except to the extent of any pecuniary interest.
• Transaction type: P = Purchase (open market or private purchase).

Context
As a 10% owner, Mr. Stahl is a significant holder of RCG; the filing’s footnotes indicate substantial direct holdings (157,454 shares) separate from these small purchases. The dollar value of these purchases is modest, so while purchases can be viewed as a positive signal, they are small relative to his reported direct stake. This filing is informational and does not explain motivation.