Angel Oak Financial Strats Income Term SEC Filings

Angel Oak Financial Strategies Income Term Trust (FINS) is asking shareholders to approve a New Investment Advisory Agreement so Angel Oak Capital Advisors, LLC can continue managing the Fund after Brookfield Asset Management Ltd. acquires a majority interest in Angel Oak Companies, LP. The Transaction would transfer roughly ~51% of Angel Oak Companies, LP to Brookfield and is expected to close by September 30, 2025, though closing is subject to conditions. The New Agreement is stated to be substantially identical to the Current Investment Advisory Agreement and would keep fees and day-to-day management unchanged.

The Board unanimously recommends voting FOR both Proposal 1 (approve the New Investment Advisory Agreement) and Proposal 2 (adjournment to solicit additional proxies). The Board approved an interim advisory agreement permitting the Adviser to continue managing the Fund for up to 150 days post-closing if shareholder approval is not timely. The proxy notes comparative fee data showing the Fund’s management fee and net expense ratio are above peer medians, and discloses a temporary 0.35% fee waiver that reduced the management fee to 1.00% for six months starting June 1, 2025.

Form 4 filed by William Eldredge (Chief Compliance Officer) for Angel Oak Financial Strategies Income Term Trust (FINS).

On 08/05/2025 the reporting person recorded a transaction in Common Stock: Transaction Code P; 1,920 shares acquired at $13.10, resulting in 2,940 shares beneficially owned in a Direct capacity. The form is signed on 08/06/2025.

Angel Oak Financial Strategies Income Term Trust (ticker: FINS) has filed a Form NPORT-P Monthly Portfolio Investments Report. The submission is designated as a LIVE filing, but virtually every numerical field—including total assets, liabilities, net assets, risk metrics, securities-lending data, monthly returns and share-flow information—remains blank. Aside from indicating that this is not the fund’s final NPORT filing, the document offers no populated values about the Trust’s portfolio composition, performance or risk profile. Consequently, the filing provides investors with negligible insight and is unlikely to influence valuation or trading sentiment.

This is a Schedule 14A filing (DFAN14A) for Angel Oak Financial Strategies Income Term Trust (FINS), filed on June 28, 2025. The filing represents Definitive Additional Materials in a proxy solicitation process.

Key points from the filing:

• Filed by Trevor Montano, a party other than the Registrant
• No filing fee required
• Represents additional proxy materials related to a shareholder action
• Filed as a definitive version of proxy solicitation materials

This DFAN14A filing indicates ongoing proxy solicitation activity, suggesting potential shareholder activism or contested matters requiring shareholder attention. The involvement of a third-party filer (Trevor Montano) rather than the trust itself may indicate a non-management initiative or contested situation.

ISS Endorses Trevor Montano for Angel Oak Financial Strategies Income Term Trust Board

Leading proxy advisory firm ISS has recommended shareholders vote for Trevor Montano on the GREEN proxy card at FINS' 2025 Annual Meeting on June 26. ISS validated Montano's case for change, citing concerns about:

• Board Governance Issues: Problematic features including classified board structure and majority vote standard in contested elections
• Poor Performance: Historical financial underperformance and questionable acquisition track record
• Board Responsiveness: Dismissive attitude toward shareholder nominees and low support rates for board nominees at previous meetings

ISS highlighted Montano's qualifications, including his background in bank capital investing and board experience, deeming him a logical addition to improve oversight. The proxy contest represents a significant push for change in FINS' governance and strategic direction, with shareholders set to decide at the upcoming annual meeting.