HERZFELD THOMAS J

SEC source: 0001398344-26-006611 · fp0098608-2_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 197,248

SEC source: 0001398344-26-005941 · fp0098204-1_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 193,638

SEC source: 0001398344-26-004400 · fp0097841-2_4.xml · nonDerivative · entry 2

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 190,664

SEC source: 0001398344-26-004400 · fp0097841-2_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 189,388

SEC source: 0001398344-26-000079 · fp0096748-2_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,856,244

F1 · kind: 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 · kind: 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. T. Herzfeld received 313,444 shares of common stock of the Fund in connection with the December 2025 Distribution.

F3 · kind: The amount reported represents the estimate number of shares to be received by the reporting person in connection with the cash or stock distribution announced on December 30, 2025. The exact distribution of cash and stock to the reporting person is dependent upon their election as well as elections of other stockholders, subject to the pro-rata limitation. If necessary, an amended Form 4 will be filed to report the number of shares actually received by the reporting person in connection with the cash or stock distribution once the final allocations are determined.

SEC source: 0001398344-26-000233 · fp0096843-1_4a.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,856,239

F1 · kind: 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 · kind: 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. T. Herzfeld received 313,439 shares of common stock of the Fund in connection with the December 2025 Distribution.

SEC source: 0001398344-26-000671 · fp0097079-1_4a.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,856,241

F1 · kind: 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 · kind: 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. T. Herzfeld received 313,441 shares of common stock of the Fund in connection with the December 2025 Distribution.

SEC source: 0001398344-25-019669 · fp0095979-4_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,542,799

F1 · kind: 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%.

SEC source: 0001398344-25-012633 · fp0094147-5_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,664,037

F1 · kind: On June 30, 2025, the Fund paid a distribution of $0.2325 per share to stockholders of record on May 23, 2025 in cash and shares of common stock (the "June 2025 Distribution"). The June 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 June 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 $2.4618. Mr. T. Herzfeld received 90,313 shares of common stock of the Fund in connection with the June 2025 Distribution.

SEC source: 0001398344-25-006862 · fp0093009-1_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,573,724

SEC source: 0001398344-25-006580 · fp0092901-2.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,572,018

SEC source: 0001398344-25-006420 · fp0092857-2.xml · nonDerivative · entry 2

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,571,237

SEC source: 0001398344-25-006420 · fp0092857-2.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,570,767

SEC source: 0001398344-25-006032 · fp0092801-3.xml · nonDerivative · entry 2

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,570,373

SEC source: 0001398344-25-006032 · fp0092801-3.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,568,223

SEC source: 0001398344-25-005709 · fp0092711-2_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,566,549

SEC source: 0001398344-25-005626 · fp0092675-1_4.xml · nonDerivative · entry 2

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,565,562

SEC source: 0001398344-25-005628 · fp0092675-1_4.xml · nonDerivative · entry 2

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,565,562

SEC source: 0001398344-25-005626 · fp0092675-1_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,564,310

SEC source: 0001398344-25-005628 · fp0092675-1_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,564,310

SEC source: 0001398344-25-005502 · fp0092629-1_4.xml · nonDerivative · entry 2

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,557,013

SEC source: 0001398344-25-005502 · fp0092629-1_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,556,136

SEC source: 0001398344-25-005423 · fp0092623-3_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,554,511

SEC source: 0001398344-25-005320 · fp0092604-1_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,553,444

SEC source: 0001398344-25-004987 · fp0092568-2_4.xml · nonDerivative · entry 2

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,549,881

SEC source: 0001398344-25-004987 · fp0092568-2_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Chairman of the Advisor

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,539,115

SEC source: 0001398344-24-021013 · fp0091091-2_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,477,691

F1 · balance_after: The amount reported represents the estimated number of shares tendered to The Herzfeld Caribbean Basin 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 October 15, 2024 (the "Tender Offer"). The Fund will purchase only a prorated portion of the shares properly tendered by each tendering stockholder. Based on a preliminary count reported by the Fund, the preliminary proration factor is 7.07%. If necessary, an amended Form 4 will be filed to report the number of shares actually disposed of by the reporting person in connection with the Tender Offer once the final proration factor is determined.

SEC source: 0001398344-24-021083 · fp0091153-1_4a.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,477,523

F1 · balance_after: The amount reported represents the estimated number of shares tendered to The Herzfeld Caribbean Basin 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 October 15, 2024 (the "Tender Offer"). The final proration factor for the Tender Offer is 7.08052%.

SEC source: 0001398344-24-012771 · fp0089233-4_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,590,111

F1 · kind: On July 15, 2024, the Fund paid a quarterly distribution of $0.135375 per share to stockholders of record on June 3, 2024 in cash and shares of common stock (the "July 2024 Distribution"). The July 2024 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 July 2024 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 $2.3329. Mr. T. Herzfeld received 72,500 shares of common stock of the Fund in connection with the July 2024 Distribution.

SEC source: 0001398344-24-009512 · fp0088371-3_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,517,611

F1 · kind: On May 10, 2024, the Fund paid a quarterly distribution of $0.135375 per share to shareholders of record on Mar. 27, 2024 in cash and shares of common stock (the "Fiscal Q4 Distribution"). The Fiscal Q4 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 Fiscal Q4 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 $2.4067. Mr. T. Herzfeld received 61,542 shares of common stock of the Fund in connection with the Fiscal Q4 Distribution.

SEC source: 0001398344-24-006275 · fp0087658-2_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director · Portfolio Manager

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,456,498

F1 · balance_after: The amount reported represents the estimated number of shares tendered to The Herzfeld Caribbean Basin 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 February 20, 2024 (the "Tender Offer"). The Fund will purchase only a prorated portion of the shares properly tendered by each tendering stockholder. Based on a preliminary count reported by the Fund, the preliminary proration factor is 13.59%. If necessary, an amended Form 4 will be filed to report the number of shares actually disposed of by the reporting person in connection with the Tender Offer once the final proration factor is determined.

SEC source: 0001398344-24-006431 · fp0087690-2_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director · Portfolio Manager

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,456,069

F1 · balance_after: The amount reported represents the estimated number of shares tendered to The Herzfeld Caribbean Basin 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 February 20, 2024 (the "Tender Offer"). The final proration factor for the Tender Offer is 13.615645%.

SEC source: 0001398344-24-001942 · fp0086998-3_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,685,567

F1 · kind: On January 31, 2024, the Fund paid a quarterly distribution of $0.135375 per share to shareholders of record on Dec. 29, 2023 in cash and shares of common stock (the "Dec. 2023 Distribution"). The Dec. 2023 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 Dec. 2023 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 $2.6336. Mr. T. Herzfeld received 65,791 shares of common stock of the Fund in connection with the Dec. 2023 Distribution.

SEC source: 0001398344-23-023064 · fp0086356-5_4.xml · derivative · entry 2

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 440,049 shares

Expires 2023-12-13

F1 · security: The Herzfeld Caribbean Basin Fund, Inc. (the "Fund") recently completed a pro rata offering (the "Rights Offering") of non-transferable subscription rights ("Rights") to its common stockholders of record as of the close of business on November 3, 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 one Right held at a discount to the market price of the Common Stock. The subscription price per share of Common Stock was $2.31 (the "basic subscription privilege").

F2 · security: 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"). Both with respect to Common Stock owned by the reporting person (i) individually and (ii) in his role as portfolio manager of investment advisory accounts of the clients of Thomas J. Herzfeld Advisors, Inc., a registered investment adviser for which the reporting person has dispositive and/or voting power, 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 the Record Date and expired on December 13, 2023.

F3 · security: 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 the record date and expired on December 13, 2023. 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.

F4 · security: The reporting person purchased 600,831 shares of Common Stock from the exercise of his rights in the basic subscription privilege (previously reported in a Form 4 filed on December 15, 2023), plus an additional 440,049 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 December 18, 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.

F1 · date: The Herzfeld Caribbean Basin Fund, Inc. (the "Fund") recently completed a pro rata offering (the "Rights Offering") of non-transferable subscription rights ("Rights") to its common stockholders of record as of the close of business on November 3, 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 one Right held at a discount to the market price of the Common Stock. The subscription price per share of Common Stock was $2.31 (the "basic subscription privilege").

F2 · date: 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"). Both with respect to Common Stock owned by the reporting person (i) individually and (ii) in his role as portfolio manager of investment advisory accounts of the clients of Thomas J. Herzfeld Advisors, Inc., a registered investment adviser for which the reporting person has dispositive and/or voting power, 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 the Record Date and expired on December 13, 2023.

F3 · date: 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 the record date and expired on December 13, 2023. 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.

F4 · date: The reporting person purchased 600,831 shares of Common Stock from the exercise of his rights in the basic subscription privilege (previously reported in a Form 4 filed on December 15, 2023), plus an additional 440,049 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 December 18, 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.

F1 · derivative.expiration_date: The Herzfeld Caribbean Basin Fund, Inc. (the "Fund") recently completed a pro rata offering (the "Rights Offering") of non-transferable subscription rights ("Rights") to its common stockholders of record as of the close of business on November 3, 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 one Right held at a discount to the market price of the Common Stock. The subscription price per share of Common Stock was $2.31 (the "basic subscription privilege").

F2 · derivative.expiration_date: 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"). Both with respect to Common Stock owned by the reporting person (i) individually and (ii) in his role as portfolio manager of investment advisory accounts of the clients of Thomas J. Herzfeld Advisors, Inc., a registered investment adviser for which the reporting person has dispositive and/or voting power, 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 the Record Date and expired on December 13, 2023.

F3 · derivative.expiration_date: 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 the record date and expired on December 13, 2023. 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.

F4 · derivative.expiration_date: The reporting person purchased 600,831 shares of Common Stock from the exercise of his rights in the basic subscription privilege (previously reported in a Form 4 filed on December 15, 2023), plus an additional 440,049 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 December 18, 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.

SEC source: 0001398344-23-023064 · fp0086356-5_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,641,711

SEC source: 0001398344-23-023658 · fp0086419-1_4a.xml · derivative · entry 2

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 418,114 shares

Expires 2023-12-13

F1 · security: The Herzfeld Caribbean Basin Fund, Inc. (the "Fund") recently completed a pro rata offering (the "Rights Offering") of non-transferable subscription rights ("Rights") to its common stockholders of record as of the close of business on November 3, 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 one Right held at a discount to the market price of the Common Stock. The subscription price per share of Common Stock was $2.31 (the "basic subscription privilege").

F2 · security: 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"). Both with respect to Common Stock owned by the reporting person (i) individually and (ii) in his role as portfolio manager of investment advisory accounts of the clients of Thomas J. Herzfeld Advisors, Inc., a registered investment adviser for which the reporting person has dispositive and/or voting power, 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 the Record Date and expired on December 13, 2023.

F3 · security: 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 the record date and expired on December 13, 2023. 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.

F4 · security: The reporting person purchased 600,831 shares of Common Stock from the exercise of his rights in the basic subscription privilege (previously reported in a Form 4 filed on December 15, 2023), plus an additional 418,114 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 December 18, 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.

F1 · date: The Herzfeld Caribbean Basin Fund, Inc. (the "Fund") recently completed a pro rata offering (the "Rights Offering") of non-transferable subscription rights ("Rights") to its common stockholders of record as of the close of business on November 3, 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 one Right held at a discount to the market price of the Common Stock. The subscription price per share of Common Stock was $2.31 (the "basic subscription privilege").

F2 · date: 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"). Both with respect to Common Stock owned by the reporting person (i) individually and (ii) in his role as portfolio manager of investment advisory accounts of the clients of Thomas J. Herzfeld Advisors, Inc., a registered investment adviser for which the reporting person has dispositive and/or voting power, 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 the Record Date and expired on December 13, 2023.

F3 · date: 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 the record date and expired on December 13, 2023. 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.

F4 · date: The reporting person purchased 600,831 shares of Common Stock from the exercise of his rights in the basic subscription privilege (previously reported in a Form 4 filed on December 15, 2023), plus an additional 418,114 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 December 18, 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.

F5 · shares: On December 20, 2023, the reporting person filed a Form 4 which inadvertently reported that, following the exercise of his rights in the basic subscription privilege, he purchased an additional 440,049 shares of Common Stock pursuant to the Over-Subscription Privilege. In fact, as reported in this amendment, the reporting person purchased an additional 418,144 shares of Common Stock pursuant to the Over-Subscription Privilege.

F1 · derivative.expiration_date: The Herzfeld Caribbean Basin Fund, Inc. (the "Fund") recently completed a pro rata offering (the "Rights Offering") of non-transferable subscription rights ("Rights") to its common stockholders of record as of the close of business on November 3, 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 one Right held at a discount to the market price of the Common Stock. The subscription price per share of Common Stock was $2.31 (the "basic subscription privilege").

F2 · derivative.expiration_date: 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"). Both with respect to Common Stock owned by the reporting person (i) individually and (ii) in his role as portfolio manager of investment advisory accounts of the clients of Thomas J. Herzfeld Advisors, Inc., a registered investment adviser for which the reporting person has dispositive and/or voting power, 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 the Record Date and expired on December 13, 2023.

F3 · derivative.expiration_date: 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 the record date and expired on December 13, 2023. 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.

F4 · derivative.expiration_date: The reporting person purchased 600,831 shares of Common Stock from the exercise of his rights in the basic subscription privilege (previously reported in a Form 4 filed on December 15, 2023), plus an additional 418,114 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 December 18, 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.

F5 · derivative.underlying_shares: On December 20, 2023, the reporting person filed a Form 4 which inadvertently reported that, following the exercise of his rights in the basic subscription privilege, he purchased an additional 440,049 shares of Common Stock pursuant to the Over-Subscription Privilege. In fact, as reported in this amendment, the reporting person purchased an additional 418,144 shares of Common Stock pursuant to the Over-Subscription Privilege.

SEC source: 0001398344-23-023658 · fp0086419-1_4a.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,619,776

F5 · shares: On December 20, 2023, the reporting person filed a Form 4 which inadvertently reported that, following the exercise of his rights in the basic subscription privilege, he purchased an additional 440,049 shares of Common Stock pursuant to the Over-Subscription Privilege. In fact, as reported in this amendment, the reporting person purchased an additional 418,144 shares of Common Stock pursuant to the Over-Subscription Privilege.

SEC source: 0001398344-23-022826 · fp0086291-2_4.xml · derivative · entry 2

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 600,831 shares

Expires 2023-12-13

F1 · security: The Herzfeld Caribbean Basin Fund, Inc. (the "Fund") issued non-transferable subscription rights ("Rights") to its common stockholders of record as of the close of business on November 3, 2023 (the "Record Date") entitling the holders of these Rights to purchase additional shares of common stock of the Fund (the "Common Stock"). The holders of Common Stock of record on the Record Date ("Record Date Stockholders") were entitled to subscribe for additional shares of Common Stock at a discount to the market price of the Common Stock. The Fund distributed to Record Date Stockholders one Right for each share of Common Stock held on the Record Date. The Rights entitle their holders to purchase one new share of Common Stock for every one Right held (1 for 1).

F2 · security: 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"). Both with respect to Common Stock owned by the reporting person (i) individually and (ii) in his role as portfolio manager of investment advisory accounts of the clients of Thomas J. Herzfeld Advisors, Inc., a registered investment adviser for which the reporting person has dispositive and/or voting power, 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 the Record Date and expired on December 13, 2023.

F3 · security: The final subscription price of $2.31 per share of Common Stock was determined based upon the terms of the offer. The Common Stock subscribed for will be issued after receipt of all stockholder payments.

F1 · date: The Herzfeld Caribbean Basin Fund, Inc. (the "Fund") issued non-transferable subscription rights ("Rights") to its common stockholders of record as of the close of business on November 3, 2023 (the "Record Date") entitling the holders of these Rights to purchase additional shares of common stock of the Fund (the "Common Stock"). The holders of Common Stock of record on the Record Date ("Record Date Stockholders") were entitled to subscribe for additional shares of Common Stock at a discount to the market price of the Common Stock. The Fund distributed to Record Date Stockholders one Right for each share of Common Stock held on the Record Date. The Rights entitle their holders to purchase one new share of Common Stock for every one Right held (1 for 1).

F2 · date: 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"). Both with respect to Common Stock owned by the reporting person (i) individually and (ii) in his role as portfolio manager of investment advisory accounts of the clients of Thomas J. Herzfeld Advisors, Inc., a registered investment adviser for which the reporting person has dispositive and/or voting power, 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 the Record Date and expired on December 13, 2023.

F3 · date: The final subscription price of $2.31 per share of Common Stock was determined based upon the terms of the offer. The Common Stock subscribed for will be issued after receipt of all stockholder payments.

F1 · derivative.expiration_date: The Herzfeld Caribbean Basin Fund, Inc. (the "Fund") issued non-transferable subscription rights ("Rights") to its common stockholders of record as of the close of business on November 3, 2023 (the "Record Date") entitling the holders of these Rights to purchase additional shares of common stock of the Fund (the "Common Stock"). The holders of Common Stock of record on the Record Date ("Record Date Stockholders") were entitled to subscribe for additional shares of Common Stock at a discount to the market price of the Common Stock. The Fund distributed to Record Date Stockholders one Right for each share of Common Stock held on the Record Date. The Rights entitle their holders to purchase one new share of Common Stock for every one Right held (1 for 1).

F2 · derivative.expiration_date: 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"). Both with respect to Common Stock owned by the reporting person (i) individually and (ii) in his role as portfolio manager of investment advisory accounts of the clients of Thomas J. Herzfeld Advisors, Inc., a registered investment adviser for which the reporting person has dispositive and/or voting power, 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 the Record Date and expired on December 13, 2023.

F3 · derivative.expiration_date: The final subscription price of $2.31 per share of Common Stock was determined based upon the terms of the offer. The Common Stock subscribed for will be issued after receipt of all stockholder payments.

SEC source: 0001398344-23-022826 · fp0086291-2_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,202,270

SEC source: 0001398344-23-012599 · fp0084036-2_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 601,439

F1 · kind: On June 30, 2023, the Fund paid a quarterly distribution of $0.173625 per share to shareholders of record on May 22, 2023 in cash and shares of common stock (the "June 2023 Distribution"). The June 2023 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 June 2023 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 $3.9028. Mr. T. Herzfeld received 22,270 shares of common stock of the Fund in connection with the June 2023 Distribution.

SEC source: 0001398344-23-012664 · fp0084074-1_4a.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 600,830

F1 · kind: On June 30, 2023, the Fund paid a quarterly distribution of $0.173625 per share to shareholders of record on May 22, 2023 in cash and shares of common stock (the "June 2023 Distribution"). The June 2023 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 June 2023 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 $3.9028. Mr. T. Herzfeld received 21,661 shares of common stock of the Fund in connection with the June 2023 Distribution.

SEC source: 0001398344-23-007073 · fp0082962-2_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 579,169

F1 · kind: On Mar. 31, 2023, the Fund paid a quarterly distribution of $0.173625 per share to shareholders of record on Feb. 15, 2023 in cash and shares of common stock (the "Mar. 2023 Distribution"). The Mar. 2023 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 Mar. 2023 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 $3.6965. Mr. T. Herzfeld received 22,605 shares of common stock of the Fund in connection with the Mar. 2023 Distribution.

SEC source: 0001398344-23-000094 · fp0081427-3_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 556,564

F1 · kind: On Dec. 30, 2022, the Fund paid a quarterly distribution of $0.173625 per share to shareholders of record on November 18, 2022 in cash and shares of common stock (the "Dec. 2022 Distribution"). The Dec. 2022 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 Dec. 2022 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 $3.9557. Mr. T. Herzfeld received 20,077 shares of common stock of the Fund in connection with the Dec. 2022 Distribution.

SEC source: 0001398344-22-022307 · fp0080819-2_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 536,489

SEC source: 0001398344-22-019742 · fp0080054-6_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 608,470

F1 · kind: On Sept. 30, 2022, the Fund paid a quarterly distribution of $0.173625 per share to shareholders of record on August 22, 2022 in cash and shares of common stock (the "Sept. 2022 Distribution"). The Sept. 2022 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 Sept. 2022 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 $4.24595. Mr. T. Herzfeld received 20,259 shares of common stock of the Fund in connection with the Sept. 2022 Distribution.

SEC source: 0001398344-22-012881 · fp0077326_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 588,211

F1 · kind: On June 30, 2022, the Fund paid a quarterly distribution of $0.26475 per share to shareholders of record on May 23, 2022 in cash and shares of common stock (the "June 2022 Distribution"). The June 2022 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 June 2022 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 $4.13792. Mr. T. Herzfeld received 29,962 shares of common stock of the Fund in connection with the June 2022 Distribution.

SEC source: 0001398344-22-006913 · fp0074719_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 558,249

F1 · kind: On March 31, 2022, the Fund paid a quarterly distribution of $0.26475 per share to shareholders of record on February 18, 2022 in cash and shares of common stock (the "March 2022 Distribution"). The March 2022 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 March 2022 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 $4.88931. Mr. T. Herzfeld received 24,364 shares of common stock of the Fund in connection with the March 2022 Distribution.

SEC source: 0001398344-22-000139 · fp0071654_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 530,673

F1 · kind: On December 31, 2021, the Fund paid a quarterly distribution of $0.26475 per share to shareholders of record on November 19, 2021 in cash and shares of common stock (the "December 2021 Distribution"). The December 2021 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 2021 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 $5.28164. Mr. T. Herzfeld received 18,753 shares of common stock of the Fund in connection with the December 2021 Distribution.

SEC source: 0001398344-22-000918 · fp0072415_4a.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 533,811

F1 · kind: On December 31, 2021, the Fund paid a quarterly distribution of $0.26475 per share to shareholders of record on November 19, 2021 in cash and shares of common stock (the "December 2021 Distribution"). The December 2021 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 2021 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 $5.28164. Mr. T. Herzfeld received 18,753 shares of common stock of the Fund in connection with the December 2021 Distribution.

F2 · shares: Corrected information received from Transfer Agent.

SEC source: 0001398344-21-021702 · fp0070335_4.xml · nonDerivative · entry 1

HERZFELD THOMAS J · CIK 0001310710 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 511,919