Angel Oak Financial Strategies Income Term Trust warns investors to ignore activist bid to nominate trustee, end advisory pact ahead of Sept. 25 vote
FINS•Proxy fight ahead of Sept. 25 annual meeting
Angel Oak Financial Strategies Income Term Trust scheduled a Sept. 25, 2026 annual meeting amid a brewing proxy fight tied to shareholder Trevor Montano.
Montano sought to nominate himself for the board, and also proposed terminating the investment advisory agreement with Angel Oak Capital Advisors.
The fund rejected the notice as non-compliant with its bylaws, leaving Montano’s items off the ballot.
Board rejects Montano solicitation and cites costs
The board urged investors not to return any proxy card circulated by Montano, warning any solicitation would be inconsistent with bylaws and potentially unlawful.
Management estimated total incremental costs of a contested solicitation at about $850,000, citing roughly $525,000 already incurred.
