Ryan Paylor - Mar 31, 2023 Form 4 Insider Report for HERZFELD CARIBBEAN BASIN FUND INC (CUBA)

Role: Portfolio Manager
Signature: /s/ Ryan M. Paylor
Stock symbol: CUBA
Transactions as of: Mar 31, 2023
Transactions value $: $432
Form type: 4
Date filed: 4/4/2023, 07:32 PM
Previous filing: Jan 4, 2023
Next filing: Jul 5, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CUBA	Common stock	Other	$432	+117	+3.08%	$3.70	3.92K	Mar 31, 2023	Direct	F1

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

Explanation of Responses:

Id	Content
F1	On Mar. 31, 2023, the Fund paid a quarterly distribution of $0.173625 per share to shareholders of record on Feb. 15, 2023 in cash and shares of common stock (the "Mar. 2023 Distribution"). The Mar. 2023 Distribution was paid in cash or shares of the Fund's common stock at the election of stockholders with the total amount of cash distributed to all stockholders limited to 20% of the total distribution to be paid, excluding any cash paid for fractional shares. The remainder of the Mar. 2023 Distribution (approx. 80%) was paid in the form of shares of the Fund's common stock. The exact distribution of cash and stock to any given stockholder was dependent upon their election as well as elections of other stockholders, subject to the pro-rata limitation. The price per share used to calculate the number of shares to be issued in lieu of cash was $3.6965. Mr. R. Paylor received 117 shares of common stock of the Fund in connection with the Mar. 2023 Distribution.

Content

On Mar. 31, 2023, the Fund paid a quarterly distribution of $0.173625 per share to shareholders of record on Feb. 15, 2023 in cash and shares of common stock (the "Mar. 2023 Distribution"). The Mar. 2023 Distribution was paid in cash or shares of the Fund's common stock at the election of stockholders with the total amount of cash distributed to all stockholders limited to 20% of the total distribution to be paid, excluding any cash paid for fractional shares. The remainder of the Mar. 2023 Distribution (approx. 80%) was paid in the form of shares of the Fund's common stock. The exact distribution of cash and stock to any given stockholder was dependent upon their election as well as elections of other stockholders, subject to the pro-rata limitation. The price per share used to calculate the number of shares to be issued in lieu of cash was $3.6965. Mr. R. Paylor received 117 shares of common stock of the Fund in connection with the Mar. 2023 Distribution.