Gladstone Investment shareholders approve new advisory agreement; voting trust set for family succession

GLADSTONE INVESTMENT CORPORATION\DE

Shareholders voted 15.8M for, 0.9M against to approve new investment advisory agreement with Gladstone Management Corp.
Vote triggered by David Gladstone's plan to deposit 100% of his indirect interests in the adviser into a voting trust.
Voting trust board of five trustees (David, Lorna, Laura, Kent Gladstone, Jessica Martin) each holds 20% voting power upon effective date.
Effective date set at earliest of David's death, his election, or one year from signing; senior management continues day-to-day operations.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

GLADSTONE INVESTMENT CORPORATION\DE shareholders approved To approve a new investment advisory agreement between the Company and Gladstone Management Corporation, the Company’s investment adviser at the 2024-01-04 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2024-01-04

Exact text from the filing

To approve a new investment advisory agreement between the Company and Gladstone Management Corporation, the Company’s investment adviser: For Against Abstain 15,797,260 884,850 733,182

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Source: SEC EDGAR

accession 0001193125-24-003368

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