Director-linked entities at Kayne Anderson BDC (NYSE: KBDC) sell 164,706 shares

Rhea-AI Filing Summary

Kayne Anderson BDC, Inc. director-aligned entities reported selling a combined 164,706 shares of common stock in private transactions. Rabil Family II, LLC sold 43,020 shares and The Albert Rabil III Revocable Trust sold 121,686 shares, each at $15.84 per share, to Ventus Capital KABDC, LLC, whose manager is the company’s Chairman, James L. Robo. This amended Form 4 corrects an earlier filing that had reported only the 43,020-share sale and omitted the 121,686-share sale; the reported indirect holdings for these entities are now shown as zero following the transactions.

Insider Trade Summary

Net Seller: 164,706 shares ($2,608,943)

Net Sell 2 txns

Insider Rabil Albert

Role Director

Sold 164,706 shs ($2.61M)

Type	Security	Shares	Price	Value
Sale	Common Stock	43,020	$15.84	$681K
Sale	Common Stock	121,686	$15.84	$1.93M

Holdings After Transaction: Common Stock — 0 shares (Indirect, Rabil Family II, LLC)

Footnotes (1)

1. Shares sold in a private transaction to Ventus Capital KABDC, LLC. The Manager of Ventus Capital KABDC, LLC is James L. Robo, who is the Chairman of the Board of Directors of KBDC. The original Form 4 filing on 5/29/2025 mistakenly omitted the sale of the 121,686 shares, and only listed the sale of the 43,020 shares. We are filing this amended Form 4 to correct this omission.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Rabil Albert

(Last) (First) (Middle)

C/O KAYNE ANDERSON BDC, INC.

717 TEXAS AVENUE, 22ND FLOOR

(Street)

HOUSTON TEXAS 77002

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Kayne Anderson BDC, Inc. [ KBDC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/28/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)
05/29/2025

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/28/2025		S(1)		43,020	D	$15.84	0	I	Rabil Family II, LLC
Common Stock	05/28/2025		S(1)(2)		121,686	D	$15.84	0	I	The Albert Rabil III Revocable Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares sold in a private transaction to Ventus Capital KABDC, LLC. The Manager of Ventus Capital KABDC, LLC is James L. Robo, who is the Chairman of the Board of Directors of KBDC.

2. The original Form 4 filing on 5/29/2025 mistakenly omitted the sale of the 121,686 shares, and only listed the sale of the 43,020 shares. We are filing this amended Form 4 to correct this omission.

	/s/ Albert Rabil	03/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did Kayne Anderson BDC (KBDC) report in this amended Form 4?

The filing reports that two entities associated with director Albert Rabil sold a total of 164,706 KBDC common shares. The sales occurred in private transactions at $15.84 per share on May 28, 2025.

Which entities sold Kayne Anderson BDC (KBDC) shares and how many did each sell?

Rabil Family II, LLC sold 43,020 KBDC shares, and The Albert Rabil III Revocable Trust sold 121,686 shares. Both are indirect holdings linked to director Albert Rabil, and their reported positions drop to zero after these transactions.

Who bought the Kayne Anderson BDC (KBDC) shares sold in this insider transaction?

The shares were sold in a private transaction to Ventus Capital KABDC, LLC. According to the filing, its manager is James L. Robo, who serves as Chairman of the Board of Directors of Kayne Anderson BDC.

Why was this Kayne Anderson BDC (KBDC) Form 4 filing amended?

The amendment corrects an earlier Form 4 that only listed the 43,020-share sale. The original filing mistakenly omitted the additional 121,686-share sale, and this Form 4/A adds that missing transaction detail.

Does the amended Form 4 show remaining Kayne Anderson BDC (KBDC) shares for these entities?

No remaining holdings are shown for these indirect positions. The filing lists zero shares of KBDC common stock following the transactions for both Rabil Family II, LLC and The Albert Rabil III Revocable Trust.

Are these Kayne Anderson BDC (KBDC) insider sales open-market or private transactions?

Although coded as sales, the footnotes specify they were private transactions to Ventus Capital KABDC, LLC. This means the trades were negotiated directly with that buyer rather than executed on an open market exchange.