Bradley Tank - Jun 21, 2023 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: Jun 21, 2023
Transactions value $: $443,894
Form type: 4
Date filed: 6/23/2023, 09:20 PM
Previous filing: May 19, 2022
Next filing: Jul 5, 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	$250K	+33.7K	+33.33%	$7.42	135K	Jun 21, 2023	Direct
transaction	NHS	Common Stock	Exercise of in-the-money or at-the-money derivative security	$171K	+23.1K	+33.33%	$7.42	92.3K	Jun 21, 2023	By Indian Hill II LLC	F1
transaction	NHS	Common Stock	Exercise of in-the-money or at-the-money derivative security	$22.4K	+3.01K	+33.34%	$7.42	12.1K	Jun 21, 2023	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		-101K	-100%		0	Jun 21, 2023	Common Stock	33.7K		Direct	F2, F3, F4
transaction	NHS	Transferable Subscription Rights (rights to buy)	Exercise of in-the-money or at-the-money derivative security		-69.2K	-100%		0	Jun 21, 2023	Common Stock	23.1K		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		-9.04K	-100%		0	Jun 21, 2023	Common Stock	3.01K		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 common stockholders of record as of the close of business on May 23, 2023 (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. The Rights entitle their holders 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 shares of Common Stock which were not subscribed for (the "Over-Subscription Privilege"). The reporting person fully exercised all Rights received and subscribed for additional shares of Common Stock pursuant to the Over-Subscription Privilege, subject to the pro rata allocation of available shares of Common Stock. Fractional shares of Common Stock were not issued. The subscription period commenced on the Record Date and expired on June 21, 2023.
F4	The final subscription price of $7.42 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.