Gladstone Capital shareholders approve advisory agreement tied to adviser control change

GLADSTONE CAPITAL CORP

Stockholders approved new investment advisory agreement with Gladstone Management Corp. (20.8M for, 0.9M against, 1.1M abstain).
David Gladstone will deposit his 100% indirect interest in adviser into a voting trust upon approval.
Voting trust board of five trustees each holds 20% voting power; effective date is earliest of David's death, his election, or one year.
Senior management of the adviser continues day-to-day operations unchanged.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

GLADSTONE CAPITAL CORP shareholders approved To approve a new investment advisory agreement between the Company and Gladstone Management Corporation at the 2024-01-24 meeting.

Proposal: say on pay
Outcome: passed
Meeting: 2024-01-24

Exact text from the filing

The matter considered and voted on by the Company’s stockholders at the Special Meeting (the “Proposal”) and the vote of the stockholders were as follows: 1. To approve a new investment advisory agreement between the Company and Gladstone Management Corporation, the Company’s investment adviser: For Against Abstain 20,766,320 886,628 1,114,532

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Source: SEC EDGAR

accession 0001193125-24-014225

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