Transamerica Income Shares, Inc. (the Fund) is a diversified closed-end management investment company. The Fund’s primary investment objective is to seek as high a level of current income as is consistent with prudent investment, with capital appreciation as only a secondary objective. It invests in United States government obligations and corporate debt securities. Its investment portfolio comprises aerospace, agriculture, amusement and recreation services, automotive, beverages, business credit institutions, and chemicals and allied products, commercial banks, communication, department stores, electric services, food and kindred products, food stores, gas production and distribution, furniture and fixtures and other companies. Transamerica Asset Management, Inc. serves as the investment advisor of the Fund. Transamerica Fund Services, Inc. is the Fund’s administrator and AEGON USA Investment Management, LLC (AUIM) is the sub-adviser of the Fund.