Ryan M. Paylor - 30 Dec 2025 Form 4/A - Amendment Insider Report for Herzfeld Credit Income Fund, Inc (CUBA)

Role: Portfolio Manager
Signature: /s/ Ryan M. Paylor
Issuer symbol: CUBA
Transactions as of: 30 Dec 2025
Net transactions value: +$32,153
Form type: 4/A - Amendment
Filing time: 05 Jan 2026, 17:49:03 UTC
Date Of Original Report: 02 Jan 2026
Previous filing: 23 Oct 2025
Next filing: 04 Mar 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	05 Jan 2026	0001767956

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HERZ	Common stock	Disposed to Issuer	$32,153	+12,463	+27%	$2.58	59,287	30 Dec 2025	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	On December 30, 2025, the Fund paid a distribution, in cash and shares of common stock, of $0.6867 per share owned by each stockholder as of the payment date of December 30, 2025 (the "December 2025 Distribution"). The December 2025 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.
F2	The remainder of the December 2025 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 $2.5799, which was determined using the volume weighted average price per share of the Fund on December 12, 15 and 16, 2025. Mr. R. Paylor received 12,463 shares of common stock of the Fund in connection with the December 2025 Distribution.

Content

On December 30, 2025, the Fund paid a distribution, in cash and shares of common stock, of $0.6867 per share owned by each stockholder as of the payment date of December 30, 2025 (the "December 2025 Distribution"). The December 2025 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 December 2025 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 $2.5799, which was determined using the volume weighted average price per share of the Fund on December 12, 15 and 16, 2025. Mr. R. Paylor received 12,463 shares of common stock of the Fund in connection with the December 2025 Distribution.