CION Investment Corporation

Director's Dealing • May 17, 2023

Date: 05/15/2023 02:56 PM Toppan Merrill Project: 23-15815-3 Form Type: 4 Client: 23-15815-3_CION Investment Corporation (Roman, Stephen)_4 File: tm2315815-3_4seq1.xml Type: 4 Pg: 1 of 1

FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

1. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Check this box if no longer subject to Section 0.5

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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* 1. Name and Address of Reporting Person ROMAN STEPHEN			2. Issuer Name and Ticker or Trading Symbol CION Investment Corp [ CION ]	(Check all applicable)	5. Relationship of Reporting Person(s) to Issuer
				Director	10% Owner
(Last) (First) (Middle) C/O CION INVESTMENT CORP. 100 PARK AVENUE, 25TH FLOOR				X Officer (give title below)	Other (specify below)
			3. Date of Earliest Transaction (Month/Day/Year) 05/15/2023	CCO & Secretary
(Street) NEW YORK	NY	10017	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
(City)	(State)	(Zip)
Rule 10b5-1(c) Transaction Indication

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.

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	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial
			Code	V	Amoun t	(A) or (D)	Price	Transaction(s) (Instr. 3 and 4)		Ownership (Instr. 4)
Common stock, \$0.001 par value	05/15/2023		P		1,100	A	\$9.26	(1) 7,696.85	D

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)		3, 4 and 5)	5. Number of 6. Date Exercisable and 7. Title and Amount of Securities Derivative Securities Expiration Date Underlying Derivative Security (Instr. 3 and Acquired (A) or (Month/Day/Year) 4) Disposed of (D) (Instr.			8. Price of 9. Number of Derivative Derivative Security (Instr. Securities 5) Transaction(s)	Beneficially Owned Following Reported	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		(Instr. 4)

Explanation of Responses:

1. Includes 596.85 shares acquired under the Issuer's distribution reinvestment plan.

Remarks:

** Signature of Reporting Person Date

* 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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