Repertoire Master Fund LP - 01 Jun 2023 Form 4 Insider Report for Portman Ridge Finance Corp (PTMN)

Role
10%+ Owner
Signature
/s/ Deepak Sarpangal, Managing Member of the General Partner of Repertoire Master Fund LP
Issuer symbol
PTMN
Transactions as of
01 Jun 2023
Net transactions value
-$1,480,938
Form type
4
Filing time
29 Sep 2023, 17:06:14 UTC
Previous filing
10 Oct 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PTMN Common Stock Exercise of in-the-money or at-the-money derivative security $2,267 +100 +0.01% $22.67 1,162,434 01 Jun 2023 Direct F1
transaction PTMN Common Stock Other $1,945 -100 -0.01% $19.45 1,162,334 01 Jun 2023 Direct F1
transaction PTMN Common Stock Exercise of in-the-money or at-the-money derivative security $163,488 +7,218 +0.62% $22.65 1,169,552 01 Jun 2023 Direct F2
transaction PTMN Common Stock Other $140,390 -7,218 -0.62% $19.45 1,162,334 01 Jun 2023 Direct F2
transaction PTMN Common Stock Exercise of in-the-money or at-the-money derivative security $27,158 +1,233 +0.11% $22.03 1,163,567 01 Jun 2023 Direct F3
transaction PTMN Common Stock Other $23,982 -1,233 -0.11% $19.45 1,162,334 01 Jun 2023 Direct F3
transaction PTMN Common Stock Exercise of in-the-money or at-the-money derivative security $135,686 +6,440 +0.55% $21.07 1,168,774 01 Jun 2023 Direct F4
transaction PTMN Common Stock Other $125,258 -6,440 -0.55% $19.45 1,162,334 01 Jun 2023 Direct F4
transaction PTMN Common Stock Purchase $291,575 +14,991 +1.3% $19.45 1,177,325 01 Jun 2023 Direct
transaction PTMN Common Stock Sale $1,075,963 -55,462 -4.7% $19.40 1,121,863 19 Sep 2023 Direct
transaction PTMN Common Stock Sale $33,158 -1,700 -0.15% $19.50 1,120,163 20 Sep 2023 Direct
transaction PTMN Common Stock Sale $201,530 -10,446 -0.93% $19.29 1,109,717 21 Sep 2023 Direct
transaction PTMN Common Stock Sale $73,141 -3,763 -0.34% $19.44 1,105,954 22 Sep 2023 Direct
transaction PTMN Common Stock Sale $43,895 -2,278 -0.21% $19.27 1,103,676 22 Sep 2023 Direct
transaction PTMN Common Stock Sale $289,667 -15,051 -1.4% $19.25 1,088,625 27 Sep 2023 Direct
transaction PTMN Common Stock Sale $92,182 -4,800 -0.44% $19.20 1,083,825 28 Sep 2023 Direct

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 PTMN Equity Swap (Obligation to Buy) Exercise of in-the-money or at-the-money derivative security -1 -100% 0 01 Jun 2023 Common Stock 100 $22.67 Direct F1
transaction PTMN Equity Swap (Obligation to Buy) Exercise of in-the-money or at-the-money derivative security -1 -100% 0 01 Jun 2023 Common Stock 7,218 $22.65 Direct F2
transaction PTMN Equity Swap (Obligation to Buy) Exercise of in-the-money or at-the-money derivative security -1 -100% 0 01 Jun 2023 Common Stock 1,233 $22.03 Direct F3
transaction PTMN Equity Swap (Obligation to Buy) Exercise of in-the-money or at-the-money derivative security -1 -100% 0 01 Jun 2023 Common Stock 6,440 $21.07 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On 6/1/2023, upon settlement of an equity swap agreement entered into between the reporting person and a securities broker on 2/7/2023, the reporting person paid to the broker $22.67 per share for each of the 100 shares subject to the agreement, offset by $19.45 per share (the market price of the shares on 6/1/2023) owed by the broker to the reporting person for each of the 100 shares subject to the agreement. The termination of the equity swap and the reported purchase of common stock in connection therewith are deemed exempt from section 16(b) of the Securities Exchange Act of 1934 (the "Exchange Act") pursuant to Rule 16b-6(b) thereunder.
F2 On 6/1/2023, upon settlement of an equity swap agreement between the reporting person and a securities broker entered into on 2/8/2023, the reporting person paid to the broker $22.65 per share for each of the remaining 7,218 shares subject to the agreement, offset by $19.45 per share (the market price of the shares on 6/1/2023) owed by the broker to the reporting person for each of the remaining 7,218 shares subject to the agreement. The termination of the equity swap and the reported purchase of common stock in connection therewith are deemed exempt from section 16(b) of the Exchange Act pursuant to Rule 16b-6(b) thereunder.
F3 On 6/1/2023, upon settlement of an equity swap agreement entered into between the reporting person and a securities broker on 3/10/2023, the reporting person paid to the broker $22.0259 per share for each of the 1,233 shares subject to the agreement, offset by $19.45 per share (the market price of the shares on 6/1/2023) owed by the broker to the reporting person for each of the 1,233 shares subject to the agreement. The termination of the equity swap and the reported purchase of common stock in connection therewith are deemed exempt from section 16(b) of the Exchange Act pursuant to Rule 16b-6(b) thereunder.
F4 On 6/1/2023, upon settlement of an equity swap agreement entered into between the reporting person and a securities broker on 3/13/2023, the reporting person paid to the broker $21.0692 per share for each of the 6,440 shares subject to the agreement, offset by $19.45 per share (the market price of the shares on 6/1/2023) owed by the broker to the reporting person for each of the 6,440 shares subject to the agreement. The termination of the equity swap and the reported purchase of common stock in connection therewith are deemed exempt from section 16(b) of the Exchange Act pursuant to Rule 16b-6(b) thereunder.