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
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
LOLA BROWN TRUST 1B

(Last) (First) (Middle)
C/O ALASKA TRUST COMPANY
3000 A STREET SUITE 200

(Street)
ANCHORAGE AK 99503

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
BOULDER GROWTH & INCOME FUND [ BIF ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
01/16/2020
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
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 01/16/2020 S 5,678,000(1) D $11.87 11,053,365 D(1)(2)(3)
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. On January 16, 2020, the Reporting Person (also referred to herein as the Trust) transferred 5,678,000 shares (the Shares) of Boulder Growth & Income Fund, Inc. (the Company) to an affiliated trust, the LBT 2019 Trust (2019 Trust). The Reporing Person distributed the Shares to the 2019 Trust in accordance with its governing trust instrument onbehalf of its beneficiaries, Stewart R. Horejsi, Susan L. Ciciora, John S. Horejsi, John S. Ciciora, Jack S. Ciciora, Amanda N. Ciciora, Courtney M. Ciciora, (the Beneficiaries). Under the terms of the 2019 Trust, each Beneficiary has the right to appoint their respectively allocated Shares in their discretion. It is anticipated, however, that the Beneficiares will appoint their allocated Shares to existing or new trusts with respect to which each is or will be the grantor.
2. The trustee of the Trust and the 2019 Trust is Peak Trust Company-AK, which may be deemed to control the Trust and 2019 Trust. As a result of his being a discretionary beneficiary of the Trust and a beneficiary of the 2019 Trust and his advisory role with the Trust and the 2019 Trust, Stewart R. Horejsi may be deemed to have indirect beneficial ownership of the Shares directly beneficially owned by the trusts. However, Mr. Horejsi disclaims such beneficial ownership of the shares directly beneficially held by the Trust and 2019 Trust.
3. The Trust, the 2019 Trust and trusts, persons and entities affiliated with the Trust and 2019 Trust, including Ernest Horejsi Trust No. 1B, Mildred B. Horejsi Trust, Stewart R. Horejsi Trust No. 2, Stewart West Indies Trust, Susan L. Ciciora Trust and Susan L. Ciciora own an aggregate of 45,384,254 shares of the Company.
/s/ Matthew Blattmachr 01/21/2020
President Peak Trust Company, Trustee of the Trust 01/21/2020
/s/ Stewart R. Horejsi 01/21/2020
** 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.