Quarterly report [Sections 13 or 15(d)]

SHARE REPURCHASES

v3.26.1
SHARE REPURCHASES
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
SHARE REPURCHASES SHARE REPURCHASES
Following the MSC Income Listing, the Fund entered into a share repurchase plan (the “10b5-1 Repurchase Plan”) to repurchase up to $65.0 million in the aggregate of shares of the Fund’s common stock in the open market for a twelve-month period beginning in March 2025, at times when the market price per share of the Fund’s common stock traded below the most recently reported NAV per share of the Fund’s common stock by certain pre-determined levels (including any updates, corrections or adjustments publicly announced by the Fund to any previously announced NAV per share). The repurchases of shares of the Fund’s common stock pursuant to the 10b5-1 Repurchase Plan were intended to satisfy the conditions of Rule 10b5-1 and Rule 10b-18 under the Exchange Act and were otherwise subject to applicable law, including Regulation M, which may prohibit purchases under certain circumstances. The 10b5-1 Repurchase Plan expired in March 2026 in accordance with its terms.
Following the MSC Income Listing, Main Street also entered into a share purchase plan (the “Main Street Share Purchase Plan”) to purchase up to $20.0 million in the aggregate of shares of the Fund’s common stock in the open market for a twelve-month period beginning in March 2025, with terms and conditions substantially similar to the Fund’s 10b5-1 Repurchase Plan for shares of the Fund’s common stock, and daily purchases under the two plans were split pro rata (or as close thereto as reasonably possible) between the Fund and Main Street based on the respective plan sizes. The Main Street Share Purchase Plan expired in March 2026 in accordance with its terms.
A summary of the shares repurchased by the Fund under the 10b5-1 Repurchase Plan during the three months ended March 31, 2026 is as follows:
Period Total number of shares repurchased Average price paid per share (1) Total cost (1) Total number of shares repurchased as part of publicly announced plans or programs Approximate dollar value of shares that may yet be repurchased under the plans or programs
(in thousands, except share and per share amounts)
January 1 through January 31, 2026 160,107 $ 13.36  $ 2,139  160,107 $ 51,240 
February 1 through February 28, 2026 436,407 12.70  5,542  436,407 45,706 
March 1 through March 31, 2026 (2) 646,865 12.90  8,343  646,865 — 
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(1)Includes broker commissions.
(2)The 10b5-1 Repurchase Plan expired on March 31, 2026; upon expiration, $37.4 million of the total $65 million amount authorized to be repurchased under the 10b5-1 Repurchase Plan expired without being utilized.