Bradley Tank - May 17, 2022 Form 4 Insider Report for Neuberger Berman High Yield Strategies Fund Inc. (NHS)

Role: CIO of Adviser of Issuer
Signature: /s/ Bradley Tank by his Attorney-in-Fact, Jennifer R. Gonzalez
Stock symbol: NHS
Transactions as of: May 17, 2022
Transactions value $: $385,848
Form type: 4
Date filed: 5/19/2022, 09:58 PM
Previous filing: Nov 9, 2021
Next filing: Jun 23, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NHS	Common Stock	Exercise of in-the-money or at-the-money derivative security	$218K	+25.3K	+33.33%	$8.60	101K	May 17, 2022	Direct
transaction	NHS	Common Stock	Exercise of in-the-money or at-the-money derivative security	$149K	+17.3K	+33.33%	$8.60	69.2K	May 17, 2022	By Indian Hill II LLC	F1
transaction	NHS	Common Stock	Exercise of in-the-money or at-the-money derivative security	$19.4K	+2.26K	+33.33%	$8.60	9.04K	May 17, 2022	By Brad C Tank 1999 Trust	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	NHS	Transferable Subscription Rights (rights to buy)	Exercise of in-the-money or at-the-money derivative security		-75.9K	-100%		0	May 17, 2022	Common Stock	25.3K		Direct	F2, F3, F4
transaction	NHS	Transferable Subscription Rights (rights to buy)	Exercise of in-the-money or at-the-money derivative security		-51.9K	-100%		0	May 17, 2022	Common Stock	17.3K		By Indian Hill II LLC	F1, F2, F3, F4
transaction	NHS	Transferable Subscription Rights (rights to buy)	Exercise of in-the-money or at-the-money derivative security		-6.78K	-100%		0	May 17, 2022	Common Stock	2.26K		By Brad C Tank 1999 Trust	F1, F2, F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
F2	Neuberger Berman High Yield Strategies Fund Inc. (the "Fund") issued transferable subscription rights ("Rights") to its stockholders of record as of the close of business on April 19, 2022 (the "Record Date") entitling the holders of these Rights to purchase additional shares of common stock of the Fund (the "Common Stock"). The holders of Common Stock of record on the Record Date ("Record Date Stockholders") were entitled to subscribe for additional shares of Common Stock at a discount to the market price of the Common Stock. The Fund distributed to Record Date Stockholders one Right for each share of Common Stock held on the Record Date. Record Date Stockholders were entitled to purchase one new share of Common Stock for every three Rights held (1 for 3).
F3	Record Date Stockholders who fully exercised their Rights were entitled to subscribe, subject to certain limitations and subject to allotment, for additional Common Stock which was not subscribed for by other Record Date Stockholders (the "Over-Subscription Privilege"). Fractional shares of Common Stock were not issued. The subscription period commenced on the Record Date and expired on May 17, 2022.
F4	The final subscription price of $8.60 per share of Common Stock was determined based upon the terms of the offer. The Common Stock subscribed for will be issued after receipt of all stockholder payments.