Shareholder activism fight ahead of annual meeting
Angel Oak Financial Strategies Income Term Trust faces a shareholder activism fight ahead of its Sept. 25, 2026 annual meeting.
Activist Trevor Montano filed a preliminary proxy statement to solicit votes for his board bid and a proposal to terminate the investment advisory agreement.
The fund plans to disregard Montano’s nomination and proposal, citing noncompliance with its advance-notice bylaws.
SEC Division of Investment Management did not object to omitting Montano’s Rule 14a-8 proposal, backing the fund’s personal-grievance exclusion rationale.
The board urged shareholders to vote only its white proxy card, warning against signing or returning Montano materials.
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