FINS

SEC source: 0001816321-22-000005 · primary_doc.xml · nonDerivative · entry 1

Palsson Johannes · CIK 0001777418 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 34,679.1

F1 · kind: Effective as of July 29, 2022, the Angel Oak Dynamic Financial Strategies Income Term Trust (the "Target Fund") was reorganized into the Angel Oak Financial Strategies Income Term Trust (the "Acquiring Fund," and such reorganization, the "Reorganization"). Common shareholders of the Target Fund received common shares of the Acquiring Fund having a value equal to the aggregate NAV of the Target Fund common shares surrendered as determined at the Effective Date, as defined in the Agreement and Plan of Reorganization, less the costs of the Reorganization (although cash was distributed for any fractional shares). As of July 29, 2022, the Target Fund reported a NAV per share of $19.1618 and the Acquiring Fund reported a NAV per share of $16.3330. The conversion ratio for the Target Fund's common shares was 1.1732.

F1 · price: Effective as of July 29, 2022, the Angel Oak Dynamic Financial Strategies Income Term Trust (the "Target Fund") was reorganized into the Angel Oak Financial Strategies Income Term Trust (the "Acquiring Fund," and such reorganization, the "Reorganization"). Common shareholders of the Target Fund received common shares of the Acquiring Fund having a value equal to the aggregate NAV of the Target Fund common shares surrendered as determined at the Effective Date, as defined in the Agreement and Plan of Reorganization, less the costs of the Reorganization (although cash was distributed for any fractional shares). As of July 29, 2022, the Target Fund reported a NAV per share of $19.1618 and the Acquiring Fund reported a NAV per share of $16.3330. The conversion ratio for the Target Fund's common shares was 1.1732.

SEC source: 0001816321-22-000008 · primary_doc.xml · nonDerivative · entry 1

Pate Cheryl · CIK 0001777480 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Indirect · 2,700 shares owned directly; 2,506.76 shares owned indirectly by spouse.

Disclosed balance after: 5,206.76

F1 · kind: Effective as of July 29, 2022, the Angel Oak Dynamic Financial Strategies Income Term Trust (the "Target Fund") was reorganized into the Angel Oak Financial Strategies Income Term Trust (the "Acquiring Fund," and such reorganization, the "Reorganization"). Common shareholders of the Target Fund received common shares of the Acquiring Fund having a value equal to the aggregate NAV of the Target Fund common shares surrendered as determined at the Effective Date, as defined in the Agreement and Plan of Reorganization, less the costs of the Reorganization (although cash was distributed for any fractional shares). As of July 29, 2022, the Target Fund reported a NAV per share of $19.1618 and the Acquiring Fund reported a NAV per share of $16.3330. The conversion ratio for the Target Fund's common shares was 1.1732.

F1 · price: Effective as of July 29, 2022, the Angel Oak Dynamic Financial Strategies Income Term Trust (the "Target Fund") was reorganized into the Angel Oak Financial Strategies Income Term Trust (the "Acquiring Fund," and such reorganization, the "Reorganization"). Common shareholders of the Target Fund received common shares of the Acquiring Fund having a value equal to the aggregate NAV of the Target Fund common shares surrendered as determined at the Effective Date, as defined in the Agreement and Plan of Reorganization, less the costs of the Reorganization (although cash was distributed for any fractional shares). As of July 29, 2022, the Target Fund reported a NAV per share of $19.1618 and the Acquiring Fund reported a NAV per share of $16.3330. The conversion ratio for the Target Fund's common shares was 1.1732.

SEC source: 0001777418-21-000003 · primary_doc.xml · derivative · entry 2

Palsson Johannes · CIK 0001777418 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 3,100 shares

Expires 2021-10-14

F1 · security: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the "Fund") issued transferrable rights ("Rights") to the holders of the Fund's common shares ("Common Shareholders") of beneficial interest ("Common Shares") as of September 20, 2021 (the "Record Date"). The Fund distributed to Common Shareholders of record as of the Record Date ("Record Date Shareholders") one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3). The subscription period commenced on the Record Date and expired on October 14, 2021 (the "Expiration Date").

F2 · security: Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription by other Record Date Shareholders. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer were allocated pro rata among those fully exercising Record Date Shareholders who over-subscribed based on the number of Rights originally issued to them by the Fund.

F2 · derivative.exercise_price: Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription by other Record Date Shareholders. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer were allocated pro rata among those fully exercising Record Date Shareholders who over-subscribed based on the number of Rights originally issued to them by the Fund.

F3 · date: On October 14, 2021 (the "Expiration Date"), the Reporting Person fully exercised their Rights to purchase 5,959 Common Shares (previously reported on a Form 4 filed on October 18, 2021). On October 19, 2021, the third-party Subscription Agent for the Offering determined the allocations to be made to Record Date Shareholders who exercised their oversubscription privilege. The Reporting Person purchased an additional 3,100 Common Shares pursuant to the oversubscription privileges based on the Subscription Agent's oversubscription allocation.

F4 · price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer.

SEC source: 0001777418-21-000003 · primary_doc.xml · nonDerivative · entry 1

Palsson Johannes · CIK 0001777418 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,048.3

F1 · security: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the "Fund") issued transferrable rights ("Rights") to the holders of the Fund's common shares ("Common Shareholders") of beneficial interest ("Common Shares") as of September 20, 2021 (the "Record Date"). The Fund distributed to Common Shareholders of record as of the Record Date ("Record Date Shareholders") one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3). The subscription period commenced on the Record Date and expired on October 14, 2021 (the "Expiration Date").

F2 · security: Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription by other Record Date Shareholders. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer were allocated pro rata among those fully exercising Record Date Shareholders who over-subscribed based on the number of Rights originally issued to them by the Fund.

F3 · shares: On October 14, 2021 (the "Expiration Date"), the Reporting Person fully exercised their Rights to purchase 5,959 Common Shares (previously reported on a Form 4 filed on October 18, 2021). On October 19, 2021, the third-party Subscription Agent for the Offering determined the allocations to be made to Record Date Shareholders who exercised their oversubscription privilege. The Reporting Person purchased an additional 3,100 Common Shares pursuant to the oversubscription privileges based on the Subscription Agent's oversubscription allocation.

F4 · price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer.

SEC source: 0001777480-21-000002 · primary_doc.xml · derivative · entry 2

Pate Cheryl · CIK 0001777480 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 33 shares

Expires 2021-10-14

F1 · security: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the "Fund") issued transferrable rights ("Rights") to the holders of the Fund's common shares ("Common Shareholders") of beneficial interest ("Common Shares") as of September 20, 2021 (the "Record Date"). The Fund distributed to Common Shareholders of record as of the Record Date ("Record Date Shareholders") one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3). The subscription period commenced on the Record Date and expired on October 14, 2021 (the "Expiration Date").

F2 · security: Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription by other Record Date Shareholders. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer were allocated pro rata among those fully exercising Record Date Shareholders who over-subscribed based on the number of Rights originally issued to them by the Fund.

F2 · derivative.exercise_price: Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription by other Record Date Shareholders. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer were allocated pro rata among those fully exercising Record Date Shareholders who over-subscribed based on the number of Rights originally issued to them by the Fund.

F3 · date: On October 14, 2021 (the "Expiration Date"), the Reporting Person fully exercised their Rights to purchase 1,167 Common Shares (previously reported on a Form 4 filed on October 18, 2021). On October 19, 2021, the third-party Subscription Agent for the Offering determined the allocations to be made to Record Date Shareholders who exercised their oversubscription privilege. The Reporting Person purchased an additional 33 Common Shares pursuant to the oversubscription privileges based on the Subscription Agent's oversubscription allocation.

F4 · price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer.

SEC source: 0001777480-21-000002 · primary_doc.xml · nonDerivative · entry 1

Pate Cheryl · CIK 0001777480 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Indirect · 2,667 shares owned directly; 2,000 shares owned indirectly by spouse

Disclosed balance after: 4,700

F1 · security: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the "Fund") issued transferrable rights ("Rights") to the holders of the Fund's common shares ("Common Shareholders") of beneficial interest ("Common Shares") as of September 20, 2021 (the "Record Date"). The Fund distributed to Common Shareholders of record as of the Record Date ("Record Date Shareholders") one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3). The subscription period commenced on the Record Date and expired on October 14, 2021 (the "Expiration Date").

F2 · security: Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription by other Record Date Shareholders. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer were allocated pro rata among those fully exercising Record Date Shareholders who over-subscribed based on the number of Rights originally issued to them by the Fund.

F3 · shares: On October 14, 2021 (the "Expiration Date"), the Reporting Person fully exercised their Rights to purchase 1,167 Common Shares (previously reported on a Form 4 filed on October 18, 2021). On October 19, 2021, the third-party Subscription Agent for the Offering determined the allocations to be made to Record Date Shareholders who exercised their oversubscription privilege. The Reporting Person purchased an additional 33 Common Shares pursuant to the oversubscription privileges based on the Subscription Agent's oversubscription allocation.

F4 · price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer.

SEC source: 0001778053-21-000003 · primary_doc.xml · derivative · entry 2

Abghari Navid · CIK 0001778053 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 765 shares

Expires 2021-10-14

F1 · security: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the "Fund") issued transferrable rights ("Rights") to the holders of the Fund's common shares ("Common Shareholders") of beneficial interest ("Common Shares") as of September 20, 2021 (the "Record Date"). The Fund distributed to Common Shareholders of record as of the Record Date ("Record Date Shareholders") one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3). The subscription period commenced on the Record Date and expired on October 14, 2021 (the "Expiration Date").

F2 · security: Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription by other Record Date Shareholders. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer were allocated pro rata among those fully exercising Record Date Shareholders who over-subscribed based on the number of Rights originally issued to them by the Fund.

F2 · derivative.exercise_price: Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription by other Record Date Shareholders. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer were allocated pro rata among those fully exercising Record Date Shareholders who over-subscribed based on the number of Rights originally issued to them by the Fund.

F3 · date: On October 14, 2021 (the "Expiration Date"), the Reporting Person fully exercised their Rights to purchase 815 Common Shares (previously reported on a Form 4 filed on October 18, 2021). On October 19, 2021, the third-party Subscription Agent for the Offering determined the allocations to be made to Record Date Shareholders who exercised their oversubscription privilege. The Reporting Person purchased an additional 765 Common Shares pursuant to the oversubscription privileges based on the Subscription Agent's oversubscription allocation.

F4 · price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer.

SEC source: 0001778053-21-000003 · primary_doc.xml · nonDerivative · entry 1

Abghari Navid · CIK 0001778053 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,024

F1 · security: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the "Fund") issued transferrable rights ("Rights") to the holders of the Fund's common shares ("Common Shareholders") of beneficial interest ("Common Shares") as of September 20, 2021 (the "Record Date"). The Fund distributed to Common Shareholders of record as of the Record Date ("Record Date Shareholders") one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3). The subscription period commenced on the Record Date and expired on October 14, 2021 (the "Expiration Date").

F2 · security: Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription by other Record Date Shareholders. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer were allocated pro rata among those fully exercising Record Date Shareholders who over-subscribed based on the number of Rights originally issued to them by the Fund.

F3 · shares: On October 14, 2021 (the "Expiration Date"), the Reporting Person fully exercised their Rights to purchase 815 Common Shares (previously reported on a Form 4 filed on October 18, 2021). On October 19, 2021, the third-party Subscription Agent for the Offering determined the allocations to be made to Record Date Shareholders who exercised their oversubscription privilege. The Reporting Person purchased an additional 765 Common Shares pursuant to the oversubscription privileges based on the Subscription Agent's oversubscription allocation.

F4 · price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer.

SEC source: 0001816321-21-000001 · primary_doc.xml · derivative · entry 2

Parks Kevin · CIK 0001816321 · Portfolio Manager Affil. Fund

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 834 shares

Expires 2021-10-14

F1 · security: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · security: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

F1 · derivative.exercise_price: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · derivative.exercise_price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

F1 · price: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

SEC source: 0001816321-21-000001 · primary_doc.xml · nonDerivative · entry 1

Parks Kevin · CIK 0001816321 · Portfolio Manager Affil. Fund

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,334

SEC source: 0001777418-21-000002 · primary_doc.xml · derivative · entry 2

Palsson Johannes · CIK 0001777418 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 5,959 shares

Expires 2021-10-14

F1 · security: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · security: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

F1 · derivative.exercise_price: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · derivative.exercise_price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

F1 · price: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

SEC source: 0001777418-21-000002 · primary_doc.xml · nonDerivative · entry 1

Palsson Johannes · CIK 0001777418 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 23,948.3

SEC source: 0001777480-21-000001 · primary_doc.xml · derivative · entry 2

Pate Cheryl · CIK 0001777480 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Indirect · 667 shares acquired directly; 500 shares acquired indirectly by spouse

Disclosed balance after: 0

Underlying: Common Stock · 1,167 shares

Expires 2021-10-14

F1 · derivative.exercise_price: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · derivative.exercise_price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

F1 · price: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

SEC source: 0001777480-21-000001 · primary_doc.xml · nonDerivative · entry 1

Pate Cheryl · CIK 0001777480 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Indirect · 2,667 shares owned directly; 2,000 shares owned indirectly by spouse

Disclosed balance after: 4,667

SEC source: 0001778053-21-000002 · primary_doc.xml · derivative · entry 2

Abghari Navid · CIK 0001778053 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 815 shares

Expires 2021-10-14

F1 · security: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · security: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

F1 · derivative.exercise_price: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · derivative.exercise_price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

F1 · price: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

SEC source: 0001778053-21-000002 · primary_doc.xml · nonDerivative · entry 1

Abghari Navid · CIK 0001778053 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,259

SEC source: 0001724113-21-000001 · primary_doc.xml · derivative · entry 2

Prabhu Sreeniwas · CIK 0001724113 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 13,896 shares

Expires 2021-10-14

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · security: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · security: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

F1 · derivative.exercise_price: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · derivative.exercise_price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

F1 · price: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

SEC source: 0001724113-21-000001 · primary_doc.xml · nonDerivative · entry 1

Prabhu Sreeniwas · CIK 0001724113 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 55,687

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001828607-21-000001 · primary_doc.xml · derivative · entry 2

Hsu John R · CIK 0001828607 · Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 667 shares

Expires 2021-10-14

F1 · security: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · security: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

F1 · derivative.exercise_price: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · derivative.exercise_price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

F1 · price: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

SEC source: 0001828607-21-000001 · primary_doc.xml · nonDerivative · entry 1

Hsu John R · CIK 0001828607 · Secretary

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,667

SEC source: 0001724044-21-000003 · primary_doc.xml · derivative · entry 2

Fierman Michael · CIK 0001724044 · Investment Adviser Principal

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 3,334 shares

Expires 2021-10-14

F1 · security: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · security: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

F1 · derivative.exercise_price: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · derivative.exercise_price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

F1 · price: Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the Fund) issued transferable rights (Rights) to the holders of the Fund's common shares (Common Shareholders) of beneficial interest (Common Shares) as of September 20, 2021 (the Record Date). Holders of Rights were entitled to subscribe for additional Shares (the Offer) at a discount to the market price of the Common Shares. The Fund distributed to Common Shareholders of record as of the record date (Record Date Shareholders) one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3); however, any Record Date Common Shareholder who owned fewer than three Common Shares as of the Record Date was entitled to subscribe for one Common Share. Fractional Common Shares were not issued. The subscription period commenced on the Record Date and expired on October 14, 2021.

F2 · price: The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer. Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.

SEC source: 0001724044-21-000003 · primary_doc.xml · nonDerivative · entry 1

Fierman Michael · CIK 0001724044 · Investment Adviser Principal

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,334

SEC source: 0001778053-21-000001 · primary_doc.xml · nonDerivative · entry 5

Abghari Navid · CIK 0001778053 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,444

SEC source: 0001778053-21-000001 · primary_doc.xml · nonDerivative · entry 4

Abghari Navid · CIK 0001778053 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,944

SEC source: 0001778053-21-000001 · primary_doc.xml · nonDerivative · entry 3

Abghari Navid · CIK 0001778053 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,544

SEC source: 0001778053-21-000001 · primary_doc.xml · nonDerivative · entry 2

Abghari Navid · CIK 0001778053 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,344

SEC source: 0001778053-21-000001 · primary_doc.xml · nonDerivative · entry 1

Abghari Navid · CIK 0001778053 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,144

SEC source: 0001724044-21-000002 · primary_doc.xml · nonDerivative · entry 2

Fierman Michael · CIK 0001724044 · Investment Adviser Principal

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,000

SEC source: 0001724044-21-000002 · primary_doc.xml · nonDerivative · entry 1

Fierman Michael · CIK 0001724044 · Investment Adviser Principal

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 24,832

SEC source: 0001251859-21-000001 · primary_doc.xml · nonDerivative · entry 1

ASHER DANIEL · CIK 0001251859 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · byAFOB FIP MS, LLC

Disclosed balance after: 1,029,454

F1 · ownership.nature: AFO Blackberry, LLC is the managing member of AFOB FIP MS, LLC and Daniel Asher is deemed to control AFOB Blackberry, LLC. Mr Asher disclaims beneficial interest in the shares held by AFOB FIP MS, LLC except to the extent of any pecuniary interest therein.

SEC source: 0001724044-21-000001 · primary_doc.xml · nonDerivative · entry 1

Fierman Michael · CIK 0001724044 · Investment Adviser Principal

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,000

SEC source: 0001613158-21-000001 · primary_doc.xml · nonDerivative · entry 1

Angel Oak Capital Advisors, LLC · CIK 0001613158 · Investment Adviser

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

SEC source: 0001613158-20-000004 · primary_doc.xml · nonDerivative · entry 1

Angel Oak Capital Advisors, LLC · CIK 0001613158 · Investment Adviser

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

SEC source: 0001816321-20-000003 · primary_doc.xml · nonDerivative · entry 1

Parks Kevin · CIK 0001816321 · Portfolio Manager Affil. Fund

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,500

SEC source: 0001778053-20-000007 · primary_doc.xml · nonDerivative · entry 3

Abghari Navid · CIK 0001778053 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,144

SEC source: 0001778053-20-000007 · primary_doc.xml · nonDerivative · entry 2

Abghari Navid · CIK 0001778053 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,862

SEC source: 0001778053-20-000007 · primary_doc.xml · nonDerivative · entry 1

Abghari Navid · CIK 0001778053 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,744

SEC source: 0001778053-20-000006 · primary_doc.xml · nonDerivative · entry 3

Abghari Navid · CIK 0001778053 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,644

SEC source: 0001778053-20-000006 · primary_doc.xml · nonDerivative · entry 2

Abghari Navid · CIK 0001778053 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,944

SEC source: 0001778053-20-000006 · primary_doc.xml · nonDerivative · entry 1

Abghari Navid · CIK 0001778053 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,857

SEC source: 0001777480-20-000002 · primary_doc.xml · nonDerivative · entry 3

Pate Cheryl · CIK 0001777480 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Indirect · 2,000 shares owned directly; 1,500 shares owned indirectly by spouse

Disclosed balance after: 3,500

SEC source: 0001777480-20-000002 · primary_doc.xml · nonDerivative · entry 2

Pate Cheryl · CIK 0001777480 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Indirect · 2,000 shares owned directly; 1,500 shares owned indirectly by spouse

Disclosed balance after: 3,568

SEC source: 0001777480-20-000002 · primary_doc.xml · nonDerivative · entry 1

Pate Cheryl · CIK 0001777480 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Indirect · 2,000 shares owned directly; 1,500 shares owned indirectly by spouse

Disclosed balance after: 3,668

SEC source: 0001251859-20-000005 · primary_doc.xml · nonDerivative · entry 1

ASHER DANIEL · CIK 0001251859 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · by AFOB FIP MS, LLC

Disclosed balance after: 1,079,454

F1 · ownership.nature: AFO Blackberry LLC is the managing member of AFOB FIP MS, LLC and Daniel Asher is deemed to control AFO Black Berry LLC. Mr Asher disclaims beneficial interest in the shares held by AFOB FIP MS, LLC except to the extent of any pecuniary interest therein.

SEC source: 0001778053-20-000005 · primary_doc.xml · nonDerivative · entry 2

Abghari Navid · CIK 0001778053 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,235

SEC source: 0001778053-20-000005 · primary_doc.xml · nonDerivative · entry 1

Abghari Navid · CIK 0001778053 · Portfolio Manager

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,085

SEC source: 0001251859-20-000003 · primary_doc.xml · nonDerivative · entry 1

ASHER DANIEL · CIK 0001251859 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · by Sphinx Trading

Disclosed balance after: 17,693

F1 · ownership.nature: Oakmont Investments, LLC is the general partner of Sphinx Trading, LP, and Daniel Asher is deemed to control Oakmont Investments. Mr Asher disclaims beneficial interest in the shares held by Sphinx Trading LP except to the extent of any pecuniary interest therein.

SEC source: 0001567619-20-012055 · doc1.xml · nonDerivative · entry 3

ASHER DANIEL · CIK 0001251859 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Sphinx Trading LP

Disclosed balance after: 18,252

F1 · price: Received pursuant to merger between the issuer and Vivaldi Opportunities Fund ("Vivaldi"). The exchange ratio at which common shares of Vivaldi converted to common shares of the issuer is 0.64701%. So, the reporting person received 0.64701 shares of the combined entity for each common share of Vivaldi that the reporting person held.

F4 · ownership.nature: Oakmont Investments, LLC is the general partner of Sphinx Trading LP, and Daniel Asher is deemed to control Oakmont Investments. Mr. Asher disclaims beneficial interest in the shares held by Sphinx Trading LP except to the extent of any pecuniary interest therein.

SEC source: 0001567619-20-012055 · doc1.xml · nonDerivative · entry 2

ASHER DANIEL · CIK 0001251859 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Castle Creek Fund, LP

Disclosed balance after: 458,256

F1 · price: Received pursuant to merger between the issuer and Vivaldi Opportunities Fund ("Vivaldi"). The exchange ratio at which common shares of Vivaldi converted to common shares of the issuer is 0.64701%. So, the reporting person received 0.64701 shares of the combined entity for each common share of Vivaldi that the reporting person held.

F3 · ownership.nature: Mr. Asher is the principal of the general partner of Castle Creek Fund, LP and a limited partner in the Fund. Mr. Asher disclaims beneficial interest in the shares held by the Fund except to the extent of any pecuniary interest therein.

SEC source: 0001567619-20-012055 · doc1.xml · nonDerivative · entry 1

ASHER DANIEL · CIK 0001251859 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By AFOB FIP MS, LLC

Disclosed balance after: 1,081,207

F1 · price: Received pursuant to merger between the issuer and Vivaldi Opportunities Fund ("Vivaldi"). The exchange ratio at which common shares of Vivaldi converted to common shares of the issuer is 0.64701%. So, the reporting person received 0.64701 shares of the combined entity for each common share of Vivaldi that the reporting person held.

F2 · ownership.nature: AFO Blackberry LLC is the managing member of AFOB FIP MS, LLC, and Daniel Asher is deemed to control AFO Blackberry LLC. Mr. Asher disclaims beneficial interest in the shares held by AFOB FIP MS, LLC except to the extent of any pecuniary interest therein.