---
schema_version: "secwatch.filing_event.v1"
accession: "0001521945-26-000031"
form_type: "8-K"
ticker: null
cik: "0001521945"
company_name: "Prospect Floating Rate & Alternative Income Fund, Inc."
filed_at: "2026-03-06T23:59:59+00:00"
generated_at: "2026-05-15T18:39:31.495958+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Prospect Floating Rate & Alternative Income Fund adopts governance changes and fee reduction until exchange listing

## Summary
- Stockholders approved Fifth Articles of Amendment and Restatement, increasing quorum to 50% and dividing common stock into four classes.
- Bylaws amended to require majority vote for director elections and for amendments affecting stockholder rights.
- Investment advisory agreement amended: management fee reduced to 1.20% of total assets until one year after exchange listing, then 1.75% with incentive fee.
- Administration agreement also amended to conform to NASAA Omnibus Guidelines; all changes effective March 4, 2026.
- Fee reduction provides incentive for future listing of common stock on a national securities exchange.

## SEC filing metadata
- accession: 0001521945-26-000031
- form_type: 8-K
- cik: 0001521945
- company_name: Prospect Floating Rate & Alternative Income Fund, Inc.
- filed_at: 2026-03-06T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.03, 5.07, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1521945/000152194526000031/0001521945-26-000031-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1521945/000152194526000031/pfloat-20260306.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001521945-26-000031
- JSON: https://secwatch.observer/filing/0001521945-26-000031.json
- Plain text: https://secwatch.observer/filing/0001521945-26-000031.txt

## Source-grounded claims
- claim_id: 0de0618daaad2541b874bfcd054f3d3764ba093a
  claim: Prospect Floating Rate & Alternative Income Fund, Inc.: Adopted Fifth Amended and Restated Bylaws to conform to NASAA Omnibus Guidelines, changing director election voting standard and requiring stockholder majority concurrence for adverse bylaw amendments (effective 2026-03-04).
  evidence_excerpt: On March 4, 2026, the Company adopted the Fifth Amended and Restated Bylaws for the purpose of amending the Company’s Fourth Amended and Restated Bylaws to conform to provisions of the NASAA Omnibus Guidelines.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1521945/000152194526000031/0001521945-26-000031-index.htm
- claim_id: a2fe9a944f4ceb1eb11174d05792a9b7ad4c916a
  claim: Prospect Floating Rate & Alternative Income Fund, Inc.: Amended Fourth Articles to conform to NASAA Omnibus Guidelines, increasing quorum to 50%, dividing common stock into four classes, and changing stockholder meeting and director removal provisions (effective 2026-03-06).
  evidence_excerpt: On March 6, 2026, the Company filed its Fifth Articles of Amendment and Restatement with the State Department of Assessments and Taxation of Maryland and the amendment became effective immediately upon filing.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1521945/000152194526000031/0001521945-26-000031-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.