Assured Guaranty Ltd and its related entities executed two reported sales of Sound Point Meridian Capital, Inc. (NASDAQ: SPMC) common stock in late January 2026, according to a Form 4 filing. The combined proceeds from the sales amounted to $69,623, with the shares sold at prices ranging from $14.2917 to $14.3061 per share.
The first reported transaction occurred on January 23, 2026, when 305 shares of common stock were sold at $14.2917 per share. After that disposition, the reporting owners were shown as indirectly holding 5,274,252 shares.
The second disposition took place on January 27, 2026, when 4,562 shares were sold at $14.3061 per share. Following the January 27 sale, indirect holdings reported for the same owners fell to 5,269,690 shares.
At the time of the filing, SPMC was trading at $14.10, a price close to its 52-week low of $13.06. The stock has declined 16.49% over the past 12 months.
The Form 4 clarifies that the reported shares are held indirectly through a chain of entities. The ownership path culminates in AG Asset Strategies LLC, which is owned by Assured Guaranty Inc. That entity is wholly owned by Assured Guaranty Municipal Holdings Inc., which in turn is wholly owned by Assured Guaranty US Holdings Inc., itself wholly owned by Assured Guaranty Ltd. The filing notes that, except for AG Asset Strategies LLC, all reporting persons are indirect beneficial owners of the reported securities.
The Form 4 was signed by Nicole Idoko in multiple capacities: as Authorized Signatory for Assured Guaranty Ltd., and as Assistant Secretary for Assured Guaranty US Holdings Inc., Assured Guaranty Municipal Holdings Inc., and Assured Guaranty Inc. The filing also records Assured Guaranty Inc. as the sole member of AG Asset Strategies LLC.
In separate disclosures filed by Sound Point Meridian Capital, the company estimated an unaudited net asset value (NAV) per share for its common stock as of October 31, 2025. The estimated NAV range reported was between $16.12 and $16.22 per share.
SPMC also announced a change in its finance leadership. The company's Board of Directors named Daniel Fabian as Chief Financial Officer effective December 31, 2025. Fabian will succeed Kevin Gerlitz, who is leaving the company to pursue other opportunities. According to the filing, Fabian joined Sound Point Capital Management, LP in May 2025 and has more than 20 years of experience in global asset management. His prior roles include serving as President and Chief Operating Officer at Alcentra, where he oversaw operations across multiple investment strategies. The filing additionally notes that Fabian is a Fellow of the Institute of Chartered Accountants in England & Wales.
These items - the Form 4 insider sales, the NAV estimate, and the CFO appointment - were disclosed as part of Sound Point Meridian Capital's recent filings and corporate updates.
Summary
Assured Guaranty-affiliated entities sold a total of 4,867 shares of SPMC in two transactions on January 23 and January 27, 2026, for total proceeds of $69,623 at prices between $14.2917 and $14.3061 per share. After the sales, the reporting parties held 5,269,690 shares indirectly. Separately, SPMC disclosed an estimated unaudited NAV range of $16.12 to $16.22 as of October 31, 2025, and announced Daniel Fabian as CFO effective December 31, 2025, replacing Kevin Gerlitz.
Key points
- Insider sales: Two small dispositions by Assured Guaranty entities on January 23 and January 27, 2026, totaling $69,623 and 4,867 shares.
- NAV disclosure: Sound Point Meridian Capital reported an estimated unaudited NAV range of $16.12 to $16.22 per share as of October 31, 2025.
- Management change: Daniel Fabian appointed CFO effective December 31, 2025; Kevin Gerlitz to depart the company.
Risks and uncertainties
- Market price versus NAV - The company's estimated unaudited NAV per share is higher than the market trading price reported in the filing, which may indicate a valuation gap for investors. This affects the asset management and closed-end fund sectors.
- Leadership transition - The CFO change introduces a near-term management transition risk as the company implements the handover; this impacts corporate governance within the financials sector.
- Concentration of holdings - The filings describe indirect ownership through a chain of affiliated entities, which may complicate the transparency of beneficial ownership for investors and regulators in capital markets.