Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) filed a Form 8-K on September 30, 2026, reporting on amendments to its governing documents and the results of its 2026 Annual Meeting of Shareholders, which was held on September 25, 2026.
The primary action taken by the Fund was the approval of an amendment to Article IV, Section III of its Declaration of Trust. This amendment lowers the voting threshold required to remove a trustee for “Cause.” Previously, either shareholders or the Trustees themselves needed a 75% vote to remove a trustee. Under the amended terms, the threshold for both groups has been reduced to 66.67%. The amendment was submitted to a shareholder vote and received approval.
The Annual Meeting also addressed the election of trustees and the ratification of the independent auditor. Shareholders elected Keith M. Schappert and Andrea N. Mullins as Class II Trustees and Ira P. Cohen as a Class III Trustee. Additionally, shareholders ratified Cohen & Company, Ltd. as the Fund’s independent registered public accounting firm for the fiscal year ending January 31, 2027.
Shareholder participation at the meeting was reported as high. As of the record date of June 10, 2026, 33,416,851.4 common shares and 2,000,000 Series A Mandatorily Redeemable Preferred Shares were outstanding. Of these, 32,636,945 combined shares were voted in person or by proxy, representing 92.15% of all shares entitled to vote. This turnout was noted as materially higher than the 2025 Annual Meeting, which saw approximately 72% participation.
