Nielson Brandon R. 4

What Happened Brandon R. Nielson, a director of Keystone Private Income Fund, acquired 101,471.334 shares on March 1, 2026 at $98.55 per share, for a total reported value of $10,000,000. The filing reports this as a purchase (code P), indicating money was spent to acquire shares rather than a sale.

Key Details

• Transaction date and price: March 1, 2026 — 101,471.334 shares at $98.55 each (total ≈ $10,000,000).
• Transaction type: Reported as an open market or private purchase (P); footnote F1 indicates the subscription was dated March 1, 2026 with NAV-per-share pricing as of March 1 that was finalized on March 12, 2026.
• Additional shares: Footnote F2 notes 691.154 Class Z Shares were acquired via the issuer’s dividend reinvestment plan from Jan 24, 2026 through the report date.
• Ownership disclaimers: Footnote F3 states Mr. Nielson disclaims beneficial ownership of shares held by Beachrock Holdings, LLC and River Heights Holdings, LLC except to the extent of his pecuniary interest.
• Filing timeliness: The report was filed on March 13, 2026 for a March 1 transaction; this appears to be a late Form 4 filing (reduces prompt transparency).

Context Purchases by insiders can be seen as informative to investors because they represent the insider putting personal capital into the company. Here, the acquisition appears to be a large subscription at NAV (per F1) rather than a routine sale; however, filings alone don’t explain motivation. The NAV-finalization note may explain the delay between the transaction date and the filing.