Ryan M. Paylor - 21 Oct 2025 Form 4 Insider Report for Herzfeld Credit Income Fund, Inc (CUBA)

Role: Portfolio Manager
Signature: /s/ Ryan M. Paylor
Issuer symbol: CUBA
Transactions as of: 21 Oct 2025
Net transactions value: -$9,541
Form type: 4
Filing time: 23 Oct 2025, 16:09:57 UTC
Previous filing: 02 Jul 2025
Next filing: 05 Jan 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Paylor Ryan M	Portfolio Manager	HERZFELD CREDIT INCOME FUND, INC., 119 WASHINGTON AVE., SUITE 504, MIAMI BEACH	/s/ Ryan M. Paylor	23 Oct 2025	0001767956

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HERZ	Common stock	Disposed to Issuer	$9,541	-3,679	-7.3%	$2.59	46,823	21 Oct 2025	Direct	F1

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

Explanation of Responses:

Id	Content
F1	The amount reported represents the estimated number of shares tendered to Herzfeld Credit Income Fund, Inc. (the "Fund") in connection with the issuer tender offer by the Fund pursuant to the Tender Offer Statement on Schedule TO filed with the Securities and Exchange Commission on September 17, 2025 (the "Tender Offer"). The final proration factor for the Tender Offer is 7.2858%.