CION Investment Corporation

Major Shareholding Notification • May 15, 2024

FORM 4

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 that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

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

	OM B A PP RO VA L
OMB Num ber:		3235 -028 7
Esti ed a mat vera ge burd en h ours per resp onse		0.5

1. N d A ddr of Rep ame an ess Rei r M ich ael A sne	* ortin g P erso n		2. Is r Na and Tic ker or T radi ng S ymb ol sue me CIO N I Cor p [ CI ON ] stm ent nve	5. R elat ions hip of R rting Pe (s) t o Is epo rson sue r (Ch eck all lica ble) app
(Las t) C/O CI ON STM IN VE EN 100 PA RK AV EN UE , 25	(Firs t) T C OR P. TH FL	(Mid dle)	3. D of E arlie st T acti (Mo nth/ Day /Ye ar) ate rans on 05/ 13/2 024	X X	Dire ctor Offi (giv e tit le b elow ) cer Co- Cha irm an & Co -CE	10% Ow ner Oth er ( cify be low ) spe O
(Stre et) OR NE W Y K (Cit y)	NY (Sta te)	100 17 (Zip )	of O /Da y/Y 4. If Am end t, D ate rigin al F iled (M onth ear) men	t/Gr Che 6. In divi dua l or Join Fili ng ( ck A ppli cab le L ine) oup X For m fi led by O ne R rting Pe epo rson For m fi led by M than On e R rting Pe ore epo rson

Se Ta ble I – No n-D eri vat ive riti Ac ire d, Dis sed of r B fic iall Ow ned cu es qu po , o ene y
1. T itle o f Se curit y (In 3) str.	2. T actio n Da 2A. Dee med te rans (Mo nth/ Day /Yea r) Exe cutio n Da te,		3. T actio n Co de rans (Inst r. 8)		4. S ities Acq uired (A) or D ispo sed Of ( D) ( Instr . 3, 4 ecur and 5)			5. A f Se curit ies nt o mou Ben efici ally Own ed F ollow ing d Tr ction Instr . 3	6. O rship For m: D irect wne (D) or In dire ct (I ) (In 4) str.	7. N e of Ind irect atur Ben efici al O rship wne
		if an y (Mo nth/ Day /Yea r)		V	Amo unt	(A) o r (D)	Pric e	Rep (s) ( orte ansa and 4)		(Inst r. 4)
ock , \$0 lue Com .00 1 pa n st mo r va	05/ 13/2 024		P		407	A	\$12 .27	(1) 44, 160 .38	D

e S of fic Ta ble II De riv ativ riti Ac ire d, Dis sed r B iall Ow ned ecu es qu po , o ene y – (e.g lls, ion tib le s riti es) uts nts pt ., p , ca wa rra , o s, c on ver ecu
1. T itle o f De rivat ive S rity (Ins ) tr. 3 ecu	2. Con ion vers or E ise xerc Pric e of Der ivat ive	3. T actio rans n Date (Mo nth/ Day /Yea r)	3A. Dee med Exe cutio n Da te, if an y (Mo nth/ Day /Yea r)	4. T actio n Co de rans (Inst r. 8)		5. N umb f De rivat ive er o Sec d (A ) or uritie s Ac quire Disp osed of ( D) ( Inst r. 3, 4 and 5)		6. D Exe rcisa ble a nd ate Exp iratio n Da te (Mo nth/ Day /Yea r)		7. T itle a nd A f Se curit ies U nde rlyin nt o mou g e Se y (In d 4) Deri vativ curit str. 3 an		8. P rice of Der ivat ive Sec urity (Ins tr. 5)	9. N umb f er o e Se Deri vativ curit ies Ben efici ally Own ed Follo wing Rep orte d Tran sact ion(s ) (In str. 4)	10. O rship wne (D) Form : Dir ect or In dire ct (I ) (Inst r. 4)	Natu f 11. re o efici Indir ect Ben al Own ersh ip (Inst r. 4)
	Sec urity			Cod e	V	(A)	(D)	Date Exe rcisa ble	Exp iratio n Date	Title	Amo or N umb unt er of S hare s

Explanation of Responses:

1. Mr. Reisner is the record holder of 12,861 shares, and CION Investment Group, LLC ("CIG") is the record holder of 62,598.77 shares that includes 5,932.67 shares acquired under the Issuer's distribution reinvestment plan. Mr. Reisner, together with another individual, controls CIG and, as a result, may be deemed to be the indirect beneficial owner of the shares held by CIG. As permitted by Rule 16a-1(a)(4) under the Exchange Act, Mr. Reisner disclaims beneficial ownership of the shares held by CIG except to the extent of his pecuniary interest therein.

Remarks:

/s/ Michael A. Reisner

05/14/2024

Date

** Signature of Reporting Person

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.