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Insider Trading February 20, 2026

XAI Octagon Trust VP Buys $19,500 of Common Stock as Trust Completes Preferred Share Moves

Vice President John Yogi Spence increases direct stake; trust finalizes Series II preferred redemption and issues new Series A preferred shares

By Derek Hwang XFLT
XAI Octagon Trust VP Buys $19,500 of Common Stock as Trust Completes Preferred Share Moves
XFLT

John Yogi Spence, vice president at XAI Octagon Floating Rate & Alternative Income Trust (XFLT), purchased 5,000 common shares on February 19, 2026, for $19,500. The trust also reported the completed redemption of all Series II 2029 Convertible Preferred Shares and a private sale of Series A Mandatory Redeemable Preferred Shares that raised roughly $23 million before expenses.

Key Points

  • John Yogi Spence bought 5,000 XFLT common shares on February 19, 2026, at $3.90 per share, totaling $19,500.
  • Spence's direct ownership after the purchase is 561,791.828 shares (including 3,932.59 via the Dividend Reinvestment Plan) with additional indirect and spousal holdings across related entities.
  • XAI Octagon completed the redemption of all 1,100,000 of its 6.95% Series II 2029 Convertible Preferred Shares and sold 2,300,000 Series A Mandatory Redeemable Preferred Shares in a private transaction, raising about $23 million before expenses; the trust now has 7,300,000 Series A preferred shares outstanding.

John Yogi Spence, who serves as vice president at XAI Octagon Floating Rate & Alternative Income Trust (NASDAQ: XFLT), acquired an additional 5,000 common shares on February 19, 2026. The purchase was executed at $3.90 per share and totaled $19,500.

Following the transaction, Spence's direct beneficial ownership in the trust stands at 561,791.828 common shares. That total includes 3,932.59 shares he received through the trust's Dividend Reinvestment Plan (DRIP).

Spence's broader ownership footprint also includes indirect holdings across affiliated entities and family: 10,250 shares held indirectly through XA Investments LLC; 10,591.613 shares held by his spouse, of which 138.189 were acquired via the DRIP; and 16,678.31 shares held through XMS Holdings LLC, which include 217.60 shares acquired under the DRIP.

The trust currently offers a dividend yield of 18.51% and has paid dividends for 10 consecutive years, figures the company disclosed in its reporting. Those dividend metrics sit alongside a common share price that has fallen 17% year-to-date.

Separately, XAI Octagon Floating Rate & Alternative Income Trust completed the redemption of all 1,100,000 outstanding shares of its 6.95% Series II 2029 Convertible Preferred Shares. The redemption - which had been initially announced for December 30, 2025 - was finalized and disclosed in a filing with the Securities and Exchange Commission. The trust said the redemption applies only to the Series II 2029 Convertible Preferred Shares and does not affect its common shares.

Earlier corporate disclosures show the trust had planned to redeem these Series II shares by January 30, 2026 after obtaining approval for an amendment that removed the shares' Non-Call Period.

In a related financing action, the trust issued and sold 2,300,000 Series A Mandatory Redeemable Preferred Shares in a private placement at $10.00 per share. That sale generated approximately $23 million in gross proceeds before expenses. As a result of the transaction, the trust now has 7,300,000 Series A Mandatory Redeemable Preferred Shares outstanding.

The filings and the insider purchase provide a contemporaneous snapshot of both executive-level buying activity and changes to the trust's preferred share capital structure. The transaction data, redemption completion and private placement were all recorded in the trust's regulatory disclosures.

Risks

  • The trust's common stock has declined 17% year-to-date, reflecting notable market price volatility in the common shares that investors should consider.
  • The completed redemption applies only to the Series II 2029 Convertible Preferred Shares; the effect of this capital-structure change on other securities is not detailed in the filings.
  • Information provided focuses on executed transactions and outstanding share counts; broader implications for future dividend policy or capital needs are not addressed in the disclosed material.

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