CION Investment Corporation

Major Shareholding Notification • Jun 4, 2023

Date: 06/01/2023 07:51 PM

See Instruction 1(b).

Client: 23-17648-1_CION Investment Corporation [Gregg A. Bresner]_4 File: tm2317648-1_4seq1.xml Type: 4 Pg: 1 of 1

Project: 23-17648-1 Form Type: 4

FORM 4

Check this box if no longer subject to Section

1. Form 4 or Form 5 obligations may continue.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Toppan Merrill

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 response0.5

* 1. N nd Ad dre of R rtin g P am e a ss epo ers on BR ES NE R G RE GG A.			2. I er N nd Tic ker Tra din Sym bol ssu am e a or g CIO N I Co [ CIO N ] stm ent nve rp	5. R ela tion shi f R rtin g P on( s) t o Is p o epo ers sue r (Ch eck all plic abl e) ap
				Dire cto r	10% Ow ner
(Las	t) (Fir st) (Mid dle)			X Off r (g w) ice ive titl e b elo	Oth er ( cify ) be low spe
C/O CI ON ST CO IN VE ME NT RP 100 PA RK AV EN UE 25T H F LO OR ,			3. D of Ear lies t Tr ion (M h/D /Ye ar) ate act ont ans ay 05/ 31/ 202 3	Pre sid & CIO ent
(Str eet)				ble
NE W YO RK	NY	100 17	4. I f A ndm , Da f O rigi nal Fil ed (Mo nth /Da /Ye ar) ent te o me y	6. I ndi vid ual or J oin t/G p F iling (C hec k A ppl ica rou X For m f iled by On e R rtin g P epo ers on m f On	Lin e)
(Cit y)	(Sta te)	(Zip )		For iled by Mo re t han e R epo	rtin g P ers on
Rul e 1 0b5 -1( c) T ran sac	tion Ind icat ion

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.

Ta ble I – No n-D eri tiv e S uri tie s A uir ed Dis d o f, o r B efi cia lly O ed va ec cq po se en wn ,
1. T itle of S rity (Ins tr. 3 ) ecu	2. T acti Dat rans on e (Mo nth/ Day /Ye ar)	2A. De d eme Exe cuti Dat on e, if a ny	3. T acti rans on Cod e (I . 8) nstr		4. S ritie s A ired (A) Disp ecu cqu or ose (Ins tr. 3 , 4 a nd 5 )		d O f (D )	5. A f Se curi ties nt o mou Ben efic ially Ow ned Fo llow ing Rep d T acti on(s ) orte rans	6. O rshi p F wne orm : Dire ct ( D) o r In dire ct ( I) (Ins tr. 4 )	7. N f atu re o Indi rect Ben efic ial
		(Mo nth/ Day /Ye ar)	Cod e	V	Am t oun	(A) or ( D)	Pric e	(Ins tr. 3 d 4) an		Ow hip (Ins tr. ners 4)
\$0 Co Sto ck, .00 1 p alu mm on ar v e	05/ 31/ 202 3		P		1, 000	A	\$9. 32	(1) 45, 099	D
\$0 Co Sto ck, .00 1 p alu mm on ar v e	06/ 01/ 202 3		P		1, 000	A	\$9. 58	(1) 46, 099	D

Ta ble II De riv ati Se riti A uir ed Dis d o f, o r B efi cia lly O ed ve cu es cq po se en wn – , (e. lls tio rtib le riti ) ts, ts, g., pu ca , w arr an op ns , c on ve se cu es
1. T itle of D eriv ativ e S rity (Ins tr. 3 ) ecu	2. 3. T acti 3A. De d rans on eme Con ion Dat Exe cuti Dat vers e on e, or E ise (Mo nth/ Day /Ye ar) if a xerc ny Pric e of (Mo nth/ Day /Ye ar) Der ivat ive Sec urity		4. T acti rans on Cod e (I . 8) nstr		5. N umb f er o Der ivat ive Sec urit ies Acq uire d (A ) or Dis ed of ( D) pos (Ins tr. 3 , 4 and 5)		6. D Exe rcis able ate and Ex pira tion Da te (Mo nth/ Day /Ye ar)		7. T itle and Am t of Sec uriti es U nde rlyin oun g Der ivat ive Sec urity (In 3 a nd 4 ) str.		8. P rice of Der ivat ive Sec urity (Ins tr. 5 )	9. N umb f er o Der ivat ive Sec uriti es Ben efic ially Ow ned Foll owi ng R rted epo Tra ctio n(s) nsa	10. Ow hip ners For Dire ct m: (D) or I ndir ect (I) ( Inst r. 4 )	11. Nat of ure Indi rect Ben efic ial Ow hip ners (Ins tr. 4 )
				Cod e	V	(A)	(D)	Dat e Exe rcis able	Exp irati on Dat e	Title	Am t or oun Num ber of Sha res		(Ins tr. 4 )

Explanation of Responses:

1. Includes 7,500 shares of which certain investment retirement accounts are the record holder. Mr. Bresner is the indirect beneficial owner with sole voting and investment power with respect to the shares held by the investment retirement accounts.

Remarks:

** Signature of Reporting Person

Date

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* 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).

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