# EDGAR Filing Document

**Accession Number:** 0001500233
**File Stem:** 0001140361-26-001312
**Filing Date:** 2026-1
**Character Count:** 6361
**Document Hash:** 08adba0f3cba2bd410f4953288a03309
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-26-001312.hdr.sgml**: 20260115

**ACCESSION NUMBER**: 0001140361-26-001312

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260101

**FILED AS OF DATE**: 20260115

**DATE AS OF CHANGE**: 20260115

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Phillips William John
- **CENTRAL INDEX KEY:** 0001749717

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 811-22463
- **FILM NUMBER:** 26535625

**MAIL ADDRESS:**
- **STREET 1:** C/O IRONWOOD CAPITAL, ONE MARKET PLAZA
- **STREET 2:** STEUART TOWER, SUITE 2500
- **CITY:** SAN FRANCISCO,
- **STATE:** CA
- **ZIP:** 94105
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ironwood Institutional Multi-Strategy Fund LLC
- **CENTRAL INDEX KEY:** 0001500233

**ORGANIZATION NAME:**
- **EIN:** 273335948
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0411

**BUSINESS ADDRESS:**
- **STREET 1:** ONE MARKET PL STEUART TWR STE2500
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105
- **BUSINESS PHONE:** 415-777-2400

**MAIL ADDRESS:**
- **STREET 1:** ONE MARKET PL STEUART TWR STE2500
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] 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 for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Phillips William John<br><sub>(Last) (First) (Middle)</sub><br>ONE MARKET PLAZA<br>STEUART TOWER, SUITE 2500<br><sub>(Street)</sub><br>SAN FRANCISCO,, CA 94105<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-01-01 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[ ] Officer (give title below) [X] Other (specify below)<br>_Officer of Investment Adviser_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Ironwood Institutional Multi-Strategy Fund LLC [ N/A ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Units | 2026-01-01 |  | P |  | 139.5423<sup>(1)</sup> | A | 1289.9317<sup>(1)(2)</sup> | 390.7463<sup>(3)</sup> | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) Values are given based on most recent calculated NAV per share (11/30/2025). Values at transaction date are not yet available.

(2) Reflects the purchase price on a per share basis. Prior Forms 4 filed by the reporting person on 3/3/2025 and 3/9/2021 reported the purchase price on an aggregate value basis, rather than on a per share basis, which has been adjusted to report such price on a per share basis as of this Form 4.

(3) Reflects the amount of securities beneficially owned by the reporting person once adjusted based on the final calculated NAV per share for the reporting person's purchase on 3/1/2025, which was reported on the Form 4 filed on 3/3/2025 based on the most recent calculated NAV per share available as of that date.

**Signature:** /s/ William John Phillips  
**Date:** 2026-01-15

### Remarks:

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.**