Joseph Lind - 03 Jul 2023 Form 4 Insider Report for Neuberger Berman High Yield Strategies Fund Inc. (NHS)

Reporting relationship: Portfolio Manager
Issuer ticker: NHS
Reported as of: 03 Jul 2023
Net transaction value: +$43,281
SEC form: 4
Accepted by SEC: 05 Jul 2023, 21:48:01 UTC
Prior SEC filing: 23 Jun 2023
Next SEC filing: 24 Apr 2026
Source filing: View source filing
Reporting owner signature: /s/ Joseph Lind by his Attorney-in-Fact, Jennifer R. Gonzalez

Filing notes and source

Key filing fact

Joseph Lind filed Form 4 for Neuberger Berman High Yield Strategies Fund Inc. (NHS) on 05 Jul 2023.

Key facts

This page summarizes Joseph Lind's Form 4 filing for Neuberger Berman High Yield Strategies Fund Inc. (NHS).
2 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 05 Jul 2023, 21:48.

Change

Previous filing in this sequence was filed on 23 Jun 2023.
Current net transaction value: +$43,281.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

NHS transaction

Common Stock

Exercise of in-the-money or at-the-money derivative security

Transaction value: $43,281
Shares: +5,833
Change %: +22%
Price: $7.42
Shares after: 32,500
Date: 03 Jul 2023
Ownership: Direct
Footnotes: F1, F2, F3, F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

NHS transaction Derivative

Oversubscription Privilege (contingent right to buy)

Exercise of in-the-money or at-the-money derivative security

Transaction value
Shares: -5,833
Change %: -100%
Price
Shares after: 0
Date: 03 Jul 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 5,833
Exercise price
Footnotes: F1, F2, F3, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

Neuberger Berman High Yield Strategies Fund Inc. (the "Fund") recently completed a pro rata offering (the "Rights Offering") of transferable subscription rights ("Rights") to its common stockholders of record as of the close of business on May 23, 2023 (the "Record Date Stockholder") entitling the holders of such Rights to purchase additional shares of common stock of the Fund (the "Common Stock"). Record Date Stockholders received one Right for each outstanding whole share of Common Stock held on the record date. The Rights entitled their holders to purchase one new share of Common Stock for every three Rights held at a discount to the market price of the Common Stock. The subscription price per share of Common Stock was $7.42 (the "basic subscription privilege").

Footnote F2

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 May 23, 2023 and expired on June 21, 2023.

Footnote F3

Following the conclusion of the Rights Offering, the shares of Common Stock that were not subscribed for by the holders of Rights in the basic subscription privilege were allocated pro rata among Rights holders that exercised their Over-Subscription Privilege based on the number of shares of Common Stock each of those Rights holders owned on the record date and subject to the amount of shares of Common Stock such holder subscribed for.

Footnote F4

The reporting person purchased 6,667 shares of Common Stock from the exercise of his rights in the basic subscription privilege (previously reported in a Form 4 filed on June 23, 2023), plus an additional 5,833 shares of Common Stock pursuant to the Over-Subscription Privilege associated with the reporting person's subscription rights on the basis of the Fund's allocation of shares of Common Stock after the close of the subscription period. On July 3, 2023, the third-party subscription agent for the Rights Offering determined the allocations to be made to the Record Date Stockholders who exercised their Over-Subscription Privilege. The Common Stock subscribed for will be issued after receipt of all stockholder payments.