US Executive Compensation Proxy SEC Filings — June 23, 2026

Executive Compensation Insights

By Gunpowder Editorial ·

50 high priority 50 total filings analysed

Executive Summary

This batch of 50 proxy filings is dominated by two transformative corporate events: the $1.1T AUM Equitable Holdings/Corebridge Financial merger, which triggers a cascade of advisory agreement approvals across 25+ AllianceBernstein funds, and the Berkshire Hathaway acquisition of Taylor Morrison Home Corp.

These mega-deals create both administrative tail risk (multiple simultaneous votes) and clear strategic outcomes (a combined financial giant, a homebuilder exiting public markets). Notably, micro-cap life sciences and renewables firms (NeOnc, 20/20 Bio, Spruce Power) are pushing aggressive dilution proposals—seeking to multiply authorized shares by 5x to 10x—signaling acute capital needs. Executive compensation data is sparse, as most filings are procedural. Insider activity is limited to ownership patterns, but a clear governance theme emerges: a handful of companies (Tenon Medical, INVO Fertility, Universal Safety Products) are requesting extraordinary authority for reverse splits and dilutive financing, suggesting distressed balance sheets. The overarching theme is a market bifurcated between large-cap strategic consolidation and micro-cap survival financing.

Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →

Filing types in this digest: DEF 14A · DEFM14A

Tracking the trend? Catch up on the prior US Executive Compensation Proxy SEC Filings digest from June 22, 2026.

Investment Signals (12)

  • Equitable Holdings (EQH)/Corebridge (CRBG) (BULLISH)

    The all-stock merger creates New Equitable, a combined entity with $1.5T+ AUM. The transaction is structured to be tax-free (Section 351) and no appraisal rights are available. With the combined company listing under 'EQH', this signals a dominant financial services platform. The Board's unanimous vote and the identical fee structures across 25+ AllianceBernstein funds suggest a well-orchestrated, low-execution-risk integration.

  • The acquisition by Berkshire Hathaway at a likely premium (pending valuation) provides a clear exit for public shareholders. The Board's unanimous recommendation and the fact that it's a cash/stock deal from a fortress balance sheet (Berkshire) make this a high-probability, value-realization event. The special meeting on July 22, 2026, is a key catalyst.

  • Seeking to increase authorized shares from 50M to 500M (10x) and adopting an evergreen equity plan (7% annual increase). While this signals severe capital needs and dilution risk for existing holders, it also provides the company maximal flexibility to fund operations, attract talent, and potentially make acquisitions. The variable-price convertible preferred stock (Series E) is a major dilutive overhang. [NEUTRAL/BEARISH]

  • Seeking a 5x increase in authorized shares (50M to 250M) and a 20%+ fully-diluted share increase under its incentive plan. This is one of the most aggressive capital-raising proposals in the batch, signaling potential failure to achieve cash-flow positivity from operations. The stock is likely to face significant downward pressure from overhang.

  • Proposing to increase authorized common shares by 26x (from 20M to 525M) and authorize blank check preferred stock. With only 3M shares currently outstanding, this is an extreme dilution mechanism that could wipe out existing holders. The lack of appraisal rights (Maryland law) and potential for anti-takeover use is a major governance red flag.

  • The dual-class structure (1 vote for Class A, 10 votes for Class B) with 224K Class B shares controlling a disproportionate amount of voting power signals a founder-controlled governance structure. This can be a positive for long-term strategic focus but a negative for minority shareholder rights. The stock is a governance play.

  • Seeking approval for a reverse stock split (up to 1:35) and issuance of shares exceeding 19.99% of outstanding from a March 2026 debt financing. This is a classic distressed micro-cap pattern: reverse split to maintain listing, followed by dilutive financing. The convertible notes are already on the books, creating a known, depressing overhang.

  • CEO and President hold all 42,160 Class B shares (via a controlled entity), giving them super-voting power (10:1 vs Class A). The company is seeking to amend the 2022 Omnibus Plan to add 1.2M shares. This concentrated control provides stability but also creates a massive agency problem for minority shareholders. [NEUTRAL/BEARISH]

  • XAI Funds (XFLT, MCN) (NEUTRAL)

    A complex sub-advisor shuffle is underway, replacing Octagon with King Street/Rockford Tower. While King Street has $30B AUM, the new entity (Rockford Tower) has no operating history. The fee reduction (1.50% to 1.40%) and broader investment mandate (XFLT/CLO Funds) suggest a strategic pivot towards larger-scale CLO management. This is a bet on execution risk vs. potential upside.

  • AB Funds (25+ entities) (NEUTRAL)

    The Equitable/Corebridge merger triggers a 'vote of confidence' on the existing advisory structure. The new agreements are identical to current ones, indicating stability. The interim agreement backstop (150 days) provides a safety net. This is a low-risk, procedural event that reinforces the status quo.

  • Compensation committee and nominating committee held ZERO meetings in 2025. This indicates a complete lack of oversight on executive pay and board composition. Coupled with a CEO total comp of $24,504 (up 16.4% YoY but still extremely low), it signals a company in a zombie-like state.

  • Proposing redomiciliation from Delaware to Texas and transfer restrictions to preserve NOL tax benefits. This is a common tactic for companies with significant tax assets but also signals a desire for a more favorable corporate law environment. The advisory vote on exec comp is a routine 'say-on-pay'.

Risk Flags (10)

  • The 1:35 reverse split will dramatically reduce share count, but the simultaneous approval of dilutive convertible notes (over 19.99% of outstanding) means the post-split price will be immediately pressured by new share issuance. Classic 'death spiral' risk.

  • The 5x increase in authorized shares (to 250M) and the 20%+ fully-diluted equity plan increase represent a massive potential dilution event. The company has a history of capital raises; this filing confirms ongoing cash burn and a heavy reliance on equity markets.

  • The 26x increase in authorized common shares and the authorization of blank-check preferred stock (with no shareholder vote required for issuance) creates a massive, unpredictable dilutive weapon for management. This is a textbook governance red flag.

  • The Series E convertible preferred stock has a conversion price that can reset to 20% of Nasdaq's Minimum Price. This is a heavy dilutive mechanism that will severely penalize common stock holders if the stock price drops, creating a downward spiral.

  • Both the Compensation and Nominating Committees held zero meetings in 2025. This is a stark failure of corporate governance. Investors have no assurance that executive pay (even if low) is aligned with performance or that board composition is being actively managed.

  • All Class B shares are held by the CEO and President. This provides them with absolute control over all shareholder votes, including director elections and major transactions. Minority shareholders have zero practical influence.

  • AB Funds (All)/Voter Apathy Risk [MODERATE RISK]

    With 25+ simultaneous fund votes, there is a risk of low voter turnout. If any single fund fails to achieve quorum or the required super-majority (67% of shares present or 50% outstanding), the fund faces a messy 150-day interim agreement period. While unlikely, this is a logistical tail risk.

  • The 2023 Equity Incentive Plan amendment adds 1M shares plus annual increases of 20% of outstanding shares through 2033. This is an extremely generous and potentially massive dilution mechanism for a company with a market cap likely in the very low millions.

  • With only 4M shares outstanding and a quorum requirement of 2M, the company is susceptible to activist or special interest influence. The virtual-only meeting format can disenfranchise retail shareholders.

  • XAI CLO Fund/Broader Mandate [MODERATE RISK]

    The Fund is broadening its investment policy to include 'credit instruments beyond CLOs'. This is a significant shift from a focused CLO strategy, introducing new risk factors (e.g., direct lending, distressed credit) that investors may not have bargained for.

Opportunities (10)

  • Equitable Holdings (EQH-PC) / Corebridge (CRBG) (OPPORTUNITY)

    The merger creates a $1.5T+ AUM financial giant. The stock will likely rerate as the market recognizes the combined entity's scale, tax benefits (Section 351), and cost synergies. The NYSE listing under 'EQH' provides liquidity. This is a long-term value creation opportunity.

  • The Berkshire Hathaway acquisition is a near-certain event (special meeting July 22, 2026). For current shareholders, there is an opportunity to capture the acquisition premium. If the deal is all-stock, it offers a way to gain exposure to Berkshire's balance sheet.

  • AB Funds (all)

    The identical advisory agreements and the backing of a combined $1.5T parent provide stability. For investors in these funds, the merger is a non-event from a fee and management perspective, reducing uncertainty. The 150-day interim agreement backstop provides a clear floor. [OPPORTUNITY (for existing holders)]

  • For prospective employees, this plan is incredibly generous. The annual evergreen increase of 7% of outstanding shares ensures continuous access to equity grants. This could attract top talent in a competitive biotech market, potentially driving future value creation. [OPPORTUNITY (for talent, not investors)]

  • Similar to 20/20 Bio, the massive annual increase (20% of outstanding) provides a powerful tool for attracting and retaining talent. If the company's pipeline is successful, the dilution will be justified by value creation. High risk, high reward. [OPPORTUNITY (speculative)]

  • With CEO comp of only $24,504, there is massive room to align pay with performance. If the company ever decides to professionalize management, the low base means any incentive plan will be highly accretive to performance. A deep value turnaround play. [OPPORTUNITY (distressed)]

  • The addition of PineBridge to manage a preferred equity sleeve (20-30% of assets) is a diversification catalyst for this fund. Preferred equities can provide higher, more consistent income than covered calls. If successful, this could improve the fund's yield profile and attract income-seeking investors.

  • The redomiciliation to Texas and the transfer restrictions are designed to protect valuable net operating loss (NOL) tax assets. For a company with a history of losses, these NOLs can be a significant future tax shield, enhancing EPS once profitability is achieved.

  • The advisory vote on executive compensation and the frequency vote (1/2/3 years) is a chance for shareholders to signal their stance on management pay. If the pay is aligned with performance (e.g., revenue growth from laser systems), it's a positive signal for governance. [OPPORTUNITY (engagement)]

  • The proxy statement provides live agent access (800-311-1512) for voting. For large institutional holders, this is a well-oiled process. The vote format (virtual + agent) reduces barriers to participation, ensuring high-quality governance outcomes. [OPPORTUNITY (engagement)]

Sector Themes (6)

  • Financial Services Consolidation

    The Equitable/Corebridge merger and the Berkshire/TMH acquisition are two major consolidation events. This trend (big getting bigger) is driven by scale economics, tax benefits, and the need for diversified product suites. Implication: smaller, standalone players in homebuilding and asset management may become M&A targets.

  • Micro-Cap Distress Financing

    A cluster of micro-cap companies (Tenon Medical, INVO Fertility, Universal Safety Products, 20/20 Biolabs, NeOnc) are all seeking extraordinary dilution authority. This indicates a systemic cash crisis in the micro-cap lifecycle, driven by rising rates and limited access to traditional debt markets. Implication: investors should be extremely wary of any micro-cap with an 'authorized share increase' proposal.

  • Fund Sub-Advisor Churn

    The XAI funds (XFLT, MCN) are swapping sub-advisors (Octagon out, King Street/PineBridge in). This suggests active board oversight and a search for better performance/yield. In the closed-end fund space, sub-advisor changes can be catalysts for narrowing discounts or improving distributions.

  • Governance as a Red Flag

    Several filings (ZW Data, Maison Solutions, Direct Digital) highlight extreme governance failures—concentrated voting power, missing committee meetings, blank-check preferred. This theme underscores the importance of reading proxy statements for governance clues. Implication: stocks with poor governance should trade at a persistent discount.

  • Dual-Class Structure Persistence

    Despite governance reforms elsewhere, dual-class structures remain prevalent in smaller companies (Maison, Direct Digital, and the 'controlled companies' exception in many filings). This allows founders to maintain control while raising public capital. Implication: a premium for stability or a discount for minority rights—depending on performance.

  • Both the Equitable/Corebridge and Berkshire/TMH deals are structured to be tax-free (Section 351, all-stock). This is a dominant theme in large-cap M&A, designed to minimize immediate tax liabilities for shareholders. Implication: tax considerations are a primary driver of deal structure for long-term holders.

Watch List (8)

  • Equitable Holdings (EQH)/Corebridge (CRBG)
    👁

    The shareholder meetings on August 3, 2026, will be the key catalyst. Watch for voter turnout across the 25+ AB funds. Low turnout could cause unexpected approval failures. Also monitor the final regulatory approvals (Arizona, Colorado, Missouri, NY, Texas, Vermont insurance departments).

  • The special meeting on July 22, 2026, is the final vote on the Berkshire acquisition. Watch for any competing bids (unlikely) or shareholder lawsuits attempting to block the deal. The closing date is expected by year-end 2026.

  • XAI Fund Complex
    👁

    Watch the XFLT and CLO fund votes on July 30, 2026. The success of the King Street sub-advisor transition is critical. Monitor post-vote performance and any changes to the discount to NAV for these funds.

  • After the annual meeting on July 23, 2026, watch the company's filings for the actual issuance of the new 250M authorized shares. The timing and pricing of any subsequent capital raise will be a major stock-moving event.

  • The two-thirds vote requirement for the massive share increase is a high bar. Watch for activist opposition or a failure to garner enough votes. If approved, the sheer size of the authorized capital creates a perpetual overhang.

  • Watch for any changes to the compensation committee composition or a sudden increase in CEO pay. The zero-meeting governance failure is so extreme it may attract activist attention. A special meeting demand could be a catalyst.

  • Post-annual meeting (July 31, 2026), watch for insider trading filings. If the CEO/ President sell any of their super-voting B shares, it would be a major negative signal. Also monitor the use of the increased 2022 Omnibus Plan shares.

  • Both are early-stage biotechs with aggressive equity plans. Watch for any clinical trial results (forward-looking data) that could justify the dilution. Poor trial outcomes combined with a suddenly available large share pool would be devastating.

Filing Analyses (50)
XAI Octagon Floating Rate & Alternative Income Trust DEF 14A mixed materiality 8/10

23-06-2026

XAI Floating Rate & Alternative Income Trust (XFLT) filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a special shareholder meeting on July 30, 2026, to approve a new investment sub-advisory agreement with Rockford Tower Asset Management, L.L.C. (King Street Sub-Adviser), a newly formed but wholly owned subsidiary of King Street Capital Management, L.P. The Board unanimously recommends approval, citing King Street's $30B AUM, $12B in CLO assets, and 270 employees. However, the King Street Sub-Adviser has no operating history, and the change introduces risks associated with European CLO investments and a new entity with no track record.

  • · The King Street Sub-Adviser is newly formed and recently registered as an investment adviser with no operating history.
  • · Octagon Credit Investors, LLC will resign as sub-adviser effective on or about July 30, 2026.
  • · XFLT's investment objective and principal investment policies will remain the same after the change.
  • · The new sub-adviser will allocate assets between U.S. and European CLOs (debt and equity), asset-backed securities, and broadly syndicated loans of U.S. and European issuers.
  • · Shareholders of record as of June 2, 2026 are entitled to vote; a quorum requires 50% of shares present; approval requires the lesser of (i) 67% of shares present if >50% are represented, or (ii) 50% of outstanding shares.
  • · The special meeting will be held at XA Investments LLC offices in Chicago, IL on July 30, 2026 at 10:00 a.m. Central time.
  • · Proxy solicitation is being conducted by Okapi Partners LLC (toll-free: 855-305-0855).
XAI Madison Equity Premium Income Fund DEF 14A mixed materiality 7/10

23-06-2026

XAI Madison Equity Premium Income Fund (MCN) is seeking shareholder approval at a special meeting on July 30, 2026, to add PineBridge Investments LLC as an additional investment sub-adviser. PineBridge would manage a preferred equity securities sleeve (20-30% of managed assets), while current sub-adviser Madison continues managing the covered call equity strategy (70-80%). The Board unanimously recommends approval, citing potential for more consistent income, diversification, and tax efficiency. However, the proposal introduces new risks associated with preferred securities, and shareholder approval requires a high threshold (67% of shares present or 50% of outstanding shares).

  • · Record date for voting: June 2, 2026.
  • · Special Meeting date: July 30, 2026 at 11:00 a.m. Central time.
  • · Quorum requires holders of 50% of Fund shares present in person or by proxy.
  • · Approval requires the lesser of (i) 67% of shares present if >50% of outstanding shares are present, or (ii) 50% of outstanding shares.
  • · PineBridge was acquired by MetLife Investment Management in December 2025.
  • · The Fund's proxy solicitor is Okapi Partners LLC (toll-free: (855) 305-0855).
  • · Shareholders can vote via internet, telephone, mail, or in person.
  • · The existing Madison sub-advisory agreement remains unchanged and does not require shareholder approval.
  • · The Board considered PineBridge's experience and track record with preferred and income-oriented strategies for institutional clients.
XAI CLO & Income Opportunities Fund DEF 14A mixed materiality 8/10

23-06-2026

XAI CLO & Income Opportunities Fund is seeking shareholder approval at a special meeting on July 30, 2026, to appoint Rockford Tower Asset Management (a King Street subsidiary) as new investment sub-adviser, replacing Octagon Credit Investors. The Board unanimously recommends approval, citing potential for improved performance and a permanent advisory fee reduction from 1.50% to 1.40% of average daily managed assets. However, the King Street Sub-Adviser is newly formed with no operating history, and the Fund's investment policy will be broadened to include credit instruments beyond CLOs, introducing new risks.

  • · The special meeting will be held on July 30, 2026, at 10:30 a.m. Central time at XA Investments LLC offices in Chicago.
  • · Record date for voting is June 2, 2026.
  • · Quorum requires holders of 50% of Fund's shares present in person or by proxy.
  • · Approval requires the affirmative vote of the lesser of (i) 67% of shares present if >50% outstanding are present, or (ii) 50% of outstanding shares.
  • · The Fund's operating expense limitation will continue through January 31, 2027.
  • · King Street was founded in 1995.
  • · The King Street Sub-Adviser is newly formed and recently registered as an investment adviser with no operating history.
Maison Solutions Inc. DEF 14A neutral materiality 5/10

23-06-2026

Maison Solutions Inc. filed a definitive proxy statement (DEF 14A) for its 2026 Annual Meeting of Stockholders scheduled for July 22, 2026. The meeting will include the election of five directors and ratification of Kreit & Chiu CPA LLP as independent auditor for FY ending April 30, 2027. As of the June 22, 2026 record date, the company had 4,276,694 shares of common stock outstanding—comprising 4,052,694 Class A shares (1 vote each) and 224,000 Class B shares (10 votes each)—demonstrating concentrated voting power with Class B holders.

  • · Class A common stock has one vote per share; Class B common stock has ten votes per share.
  • · Only holders of record as of June 22, 2026 are entitled to vote.
  • · The company's fiscal year ends April 30.
  • · The proxy materials and 2025 Annual Report on Form 10-K are available at https://investors.maisonsolutionsinc.com/.
  • · Proxies may be revoked at any time before the final vote at the annual meeting.
Tenon Medical, Inc. DEF 14A neutral materiality 6/10

23-06-2026

Tenon Medical, Inc. filed a definitive proxy statement (DEF 14A) on June 23, 2026, for its 2026 Annual Meeting of Stockholders to be held virtually on July 23, 2026. The Board recommends voting FOR all six proposals, including the election of seven director nominees, ratification of Haskell and White, LLP as auditor, approval of a reverse stock split (range 1:2 to 1:35), approval of the issuance of shares underlying convertible notes from a March 11, 2026 debt financing that may exceed 19.99% of outstanding shares, approval of future financings under Nasdaq Rule 5635(d), and an adjournment proposal. The filing does not include financial results or period-over-period comparisons.

  • · The record date for voting is June 8, 2026.
  • · The reverse stock split ratio range is from 1:2 to 1:35, with the final ratio determined by the Board.
  • · The debt financing proposal relates to convertible promissory notes issued on March 11, 2026, which may exceed 19.99% of outstanding common stock as of that date.
  • · The Future Financings Proposal seeks approval for any 20% Issuance below the Minimum Price as defined under Nasdaq Listing Rule 5635(d).
  • · The proxy materials are first being made available on or about June 23, 2026.
Xtant Medical Holdings, Inc. DEF 14A neutral materiality 5/10

23-06-2026

Xtant Medical Holdings, Inc. filed a DEF 14A proxy statement for its 2026 Annual Meeting of Stockholders to be held on August 7, 2026. The Board recommends voting FOR the election of six director nominees, FOR the ratification of Grant Thornton LLP as independent auditor for FY2026, and FOR the advisory approval of named executive officer compensation. The record date is June 9, 2026, with 140,262,960 shares of common stock issued and outstanding.

  • · Annual Meeting will be held on August 7, 2026 at 8:00 a.m. Eastern Time at the offices of Jones Day, 250 Vesey Street, New York, New York 10281.
  • · Proxy materials are available at www.proxyvote.com commencing on or about June 23, 2026.
  • · Stockholders of record on June 9, 2026 are entitled to vote.
  • · Proposals include: election of six directors, ratification of Grant Thornton LLP as auditor for FY2026, and advisory vote on executive compensation.
  • · Board recommends FOR all proposals.
ORION ENERGY SYSTEMS, INC. DEF 14A neutral materiality 7/10

23-06-2026

Orion Energy Systems, Inc. (OESX) filed its DEF 14A proxy statement for the 2026 Annual Meeting of Shareholders to be held on August 6, 2026. The filing includes proposals to elect two Class I directors (Richard A. Shapiro and Heather L. Wishart-Smith), an advisory vote on named executive officer compensation, ratification of BDO USA as independent auditor, and approval of an amended 2016 equity plan. As of the record date (June 10, 2026), the company had 4,056,568 shares outstanding, with a quorum requirement of 2,028,285 votes. The filing also notes that broker non-votes will not be permitted on director elections, the executive compensation vote, or the amended plan proposal.

  • · Annual meeting to be held virtually on August 6, 2026 at 1:00 p.m. Central Time
  • · Record date for voting is June 10, 2026
  • · Proxy materials first mailed to shareholders on or about June 23, 2026
  • · Class I directors (Wishart-Smith and Shapiro) terms expire at this meeting; they are nominated for re-election to serve until 2029
  • · Broker non-votes are not permitted on director elections, executive compensation advisory vote, or the amended plan proposal
  • · If no instructions on a proxy, votes will be cast: (1) for director nominees, (2) for approval of NEO compensation, (3) for ratification of BDO USA, (4) for Amended 2016 Plan Proposal
Myseum, Inc. DEF 14A neutral materiality 7/10

23-06-2026

Myseum.AI, Inc. filed a definitive proxy statement for its 2026 Annual Meeting to be held on August 6, 2026. The meeting includes proposals to elect five directors, ratify Salberg & Company as auditor, increase shares under the 2021 Omnibus Equity Incentive Plan from 1,000,000 to 2,000,000, and authorize a reverse stock split of up to 1-for-25. The company had 5,196,430 shares outstanding as of the record date.

  • · The reverse stock split ratio range is 1-for-2 to 1-for-25, with the exact ratio determined by the Board, and authorization expires August 6, 2027.
  • · The record date for the meeting is June 12, 2026.
  • · The proxy materials are available online at www.ProxyVote.com.
  • · Shareholders may vote via Internet, mail, phone, or in person.
INVO Fertility, Inc. DEF 14A mixed materiality 9/10

23-06-2026

INVO Fertility, Inc. filed a DEF 14A proxy statement for its 2026 Annual Meeting scheduled for July 23, 2026, seeking stockholder approval on seven proposals including a 5x increase in authorized common shares from 50M to 250M, a 1M share increase under the 2019 Stock Incentive Plan (representing ~20% of fully-diluted shares), and authorization for future equity financing potentially exceeding 20% of outstanding stock at below-market prices. The filing also covers director elections, auditor ratification, and warrant exercise approval, reflecting significant potential dilution and capital-raising activities.

  • · Record date for voting is June 18, 2026; Annual Meeting is July 23, 2026 at 12:00 p.m. ET, held virtually at www.virtualshareholdermeeting.com/INVO2026.
  • · Proposal 3 seeks to increase authorized common stock from 50M to 250M shares (a 400% increase).
  • · Proposal 5 seeks to increase shares under the 2019 Stock Incentive Plan to 1M shares, representing approximately 20% of total issued and outstanding stock on a fully-diluted basis.
  • · Proposal 6 seeks approval for potential issuance of 20% or more of outstanding common stock at prices below the lower of the Nasdaq Official Closing Price immediately preceding signing or the 5-day average closing price.
  • · Proposal 4 seeks approval for issuance of common stock upon exercise of Inducement Warrants issued January 28, 2026.
  • · Proposal 7 allows adjournment to solicit additional proxies if needed.
  • · Unsigned proxy cards will not be counted; if signed but no instructions given, shares will be voted FOR all director nominees, FOR auditor ratification, FOR all other proposals, and in the proxy's discretion on other matters.
ZW Data Action Technologies Inc. DEF 14A neutral materiality 5/10

23-06-2026

ZW Data Action Technologies Inc. filed a DEF 14A proxy statement on June 23, 2026, for its 2026 annual meeting. The filing details board committee compositions, executive compensation, and corporate governance practices. Notably, director Chung Wang Yiu (Ron) is not standing for re-election, and the Compensation and Nominating Committees held no meetings in 2025. Executive compensation remains modest, with total compensation for the Principal Executive Officer at $24,504 in 2025, up from $21,062 in 2024, reflecting a 16.4% increase, though no bonuses or equity awards were granted.

  • · The Audit Committee held four meetings during 2025, while the Compensation Committee and Nominating and Corporate Governance Committee held no meetings.
  • · Director Chung Wang Yiu (Ron) is not nominated for re-election and will cease service on all committees at the annual meeting.
  • · No compensation consultant was engaged by the Company or the Compensation Committee.
  • · The 2025 Omnibus Equity Incentive Plan was approved by stockholders on December 1, 2025.
  • · A late Section 16(a) filing was reported for George Kai Chu, covering 89,606 shares purchased by Marvel Investment Limited for $268,818, with the transaction completed on June 10, 2025.
  • · No bonuses, stock awards, or option awards were granted to the named executive officer in either 2025 or 2024.
Direct Digital Holdings, Inc. DEF 14A neutral materiality 5/10

23-06-2026

Direct Digital Holdings, Inc. filed a definitive proxy statement (DEF 14A) on June 23, 2026, for its virtual-only Annual Meeting of Stockholders scheduled for July 31, 2026. Stockholders will vote on three proposals: electing six directors, ratifying BDO USA, P.C. as the independent auditor for fiscal year 2026, and amending the 2022 Omnibus Incentive Plan to increase authorized shares by 1,200,000 shares. As of the record date, the company has 739,531 shares of Class A Common Stock and 42,160 shares of Class B Common Stock outstanding, with all Class B shares held by an entity controlled by the CEO and President.

  • · Annual Meeting will be held virtually on July 31, 2026 at 9:30 a.m. Central Time via www.virtualshareholdermeeting.com/DRCT2026.
  • · Record date for voting is June 18, 2026.
  • · All Class B Common Stock (42,160 shares) is held by Direct Digital Management, LLC, indirectly owned by Mark Walker and Keith Smith.
  • · The proxy materials include the Annual Report on Form 10-K for fiscal year ended December 31, 2025 and a Current Report on Form 8-K with recast consolidated financial statements.
  • · A complete list of stockholders will be available for inspection starting July 21, 2026.
LENSAR, Inc. DEF 14A neutral materiality 5/10

23-06-2026

LENSAR, Inc. filed its definitive proxy statement (DEF 14A) on June 23, 2026, for the 2026 annual meeting of stockholders to be held virtually on August 4, 2026. The meeting will include the election of three Class III directors (Thomas B. Ellis, Richard L. Lindstrom, MD, and William J. Link, PhD), ratification of PricewaterhouseCoopers LLP as independent auditor for 2026, and advisory votes on executive compensation and the frequency of future say-on-pay votes. The filing also details executive compensation, including base salaries, bonus compensation, and equity awards for named executive officers Nicholas T. Curtis (CEO), Alan B. Connaughton (CFO), and Thomas R. Staab, II (COO).

  • · Annual meeting will be held virtually on August 4, 2026 at 11:00 a.m. Eastern Time.
  • · Record date for voting is June 10, 2026.
  • · Proposals include election of directors, ratification of auditor, advisory vote on executive compensation, and advisory vote on frequency of future say-on-pay votes.
  • · The proxy statement and annual report are available at www.proxyvote.com.
  • · Stockholders can vote via Internet, telephone, or by returning a proxy card.
AB SUSTAINABLE GLOBAL THEMATIC FUND, INC. DEF 14A neutral materiality 7/10

23-06-2026

AB Sustainable Global Thematic Fund, Inc. filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a Joint Meeting of Stockholders to be held on August 3, 2026. Stockholders will vote on two proposals: (1) the election of eight directors/trustees, and (2) approval of new investment advisory agreements with AllianceBernstein L.P. due to a planned merger of Equitable Holdings with Corebridge Financial, which may trigger an 'assignment' under the 1940 Act. The new agreements are identical in all material respects to the current ones, with no changes to fees, portfolio management, or services expected.

  • · The Record Date for voting is June 12, 2026.
  • · Stockholders can vote via Internet, telephone, mail, at the virtual meeting, or through a live agent at (800) 311-1512.
  • · If the new advisory agreement is not approved and an assignment occurs, the Board may allow the Fund to operate under an interim advisory agreement for up to 150 days.
  • · The merger is an all-stock transaction between Equitable and Corebridge, with Equitable stockholders expected to own approximately 49% and Corebridge stockholders approximately 51% of the combined company.
  • · All eight director nominees are current members of the Board.
AB VARIABLE PRODUCTS SERIES FUND, INC. DEF 14A neutral materiality 6/10

23-06-2026

AB Variable Products Series Fund, Inc. filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a stockholder meeting scheduled on August 3, 2026. Stockholders are asked to elect eight directors and to approve a new investment advisory agreement with AllianceBernstein L.P. due to an anticipated change in control of the adviser following the merger of Equitable Holdings with Corebridge Financial. The new agreement is identical in all material respects to the current one, with no changes to fees, portfolio management, or services expected.

  • · The record date for determining stockholders entitled to vote is June 12, 2026.
  • · The merger is an all-stock transaction; Equitable stockholders will own approximately 49% and Corebridge stockholders approximately 51% of the combined company.
  • · If the new advisory agreement is not approved and a change of control occurs, the Board may allow the Fund to operate under an interim advisory agreement for up to 150 days.
  • · The proxy statement includes eight director nominees, all of whom are current Board members.
  • · Voting options include internet, telephone, mail, virtual meeting attendance, or via a live agent at Sodali & Co. (800) 340-1778.
ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND DEF 14A neutral materiality 5/10

23-06-2026

AllianceBernstein National Municipal Income Fund (AFB) filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a joint stockholder meeting to be held on August 3, 2026. Stockholders are asked to approve a new investment advisory agreement with AllianceBernstein L.P. due to an anticipated change in control of the Adviser's majority owner, Equitable Holdings, Inc., which is merging with Corebridge Financial, Inc. The new agreement is identical in all material respects to the current one, with no changes to fees, portfolio management, or services, and the Board unanimously recommends a vote 'FOR' the proposal.

  • · Record date for voting is June 12, 2026.
  • · Meeting will be held virtually on August 3, 2026.
  • · If the proposal is not approved and a change of control occurs, the Board may operate under an interim advisory agreement for up to 150 days.
  • · Approval requires the affirmative vote of a majority of outstanding voting securities as defined in the 1940 Act (lesser of 67% of shares present at a meeting with >50% quorum, or >50% of outstanding shares).
  • · Abstentions and broker non-votes count as votes against the proposal.
  • · The Adviser is expected to bear all proxy solicitation costs.
AB CORE OPPORTUNITIES FUND, INC. DEF 14A neutral materiality 7/10

23-06-2026

AB Core Opportunities Fund, Inc. filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a Joint Meeting of Stockholders to be held on August 3, 2026. Stockholders are asked to elect eight director nominees and to approve new investment advisory agreements with AllianceBernstein L.P. due to a planned all-stock merger between Equitable Holdings and Corebridge Financial that may trigger an 'assignment' under the 1940 Act. The new agreements are identical in all material respects to current ones, with no changes to fees, portfolio management, or services expected; however, if stockholders do not approve the new agreements and the merger closes, the current agreements would terminate and the Board would need to consider alternatives such as interim agreements, liquidation, or reorganization.

  • · The Record Date for voting is June 12, 2026.
  • · If stockholders do not approve the new advisory agreement and a change of control occurs, the Board may operate under an interim advisory agreement for up to 150 days.
  • · The merger is an all-stock transaction; no cash consideration is mentioned.
  • · Stockholders can vote via Internet, telephone, mail, at the virtual meeting, or through a live agent at Sodali & Co. (800) 311-1512.
  • · The filing includes 8 director nominees, all current Board members.
AB MUNICIPAL INCOME FUND II DEF 14A neutral materiality 7/10

23-06-2026

AB Municipal Income Fund II has filed a definitive proxy statement (DEF 14A) for a joint stockholder meeting on August 3, 2026, to elect all eight current directors and to approve a new investment advisory agreement with AllianceBernstein L.P. The new agreement is required because the Adviser's majority owner, Equitable Holdings, is merging with Corebridge Financial in an all-stock transaction that may constitute an assignment under the 1940 Act. The Board unanimously recommends voting FOR both proposals, and no changes to fees, portfolio management, or services are expected.

  • · Record date for voting is June 12, 2026.
  • · Meeting will be held virtually on August 3, 2026.
  • · The new investment advisory agreement is identical in all material respects to the current agreement, except for effective and termination dates.
  • · If stockholders do not approve the new agreement and a change of control occurs, the Board may operate under an interim advisory agreement for up to 150 days.
  • · Voting options: internet, telephone, mail, virtual meeting, or via live agent at (800) 311-1512.
AB HIGH INCOME FUND INC DEF 14A negative materiality 8/10

23-06-2026

AB High Income Fund Inc. has filed a definitive proxy statement (DEF 14A) for a joint stockholder meeting scheduled for August 3, 2026. Stockholders are being asked to elect directors (eight nominees, all current board members) and to approve a new investment advisory agreement with AllianceBernstein L.P. due to an anticipated indirect change of control resulting from the proposed all-stock merger of Equitable Holdings, Inc. and Corebridge Financial, Inc. The new agreement is identical in all material respects to the current one, with no changes to fees, portfolio management, services, or investment strategies. If stockholders do not approve the new agreement and the assignment occurs, the Board may need to consider alternative actions, including an interim advisory agreement of up to 150 days.

  • · Record date for voting is June 12, 2026.
  • · Meeting will be held virtually on August 3, 2026.
  • · The merger is an all-stock transaction; no cash is involved.
  • · If the new advisory agreement is not approved and the assignment occurs, the Board may consider liquidation, reorganization, or reliance on other legal precedent.
  • · The proxy solicitor is Sodali & Co. (toll free: 800-311-1512).
AB SUSTAINABLE INTERNATIONAL THEMATIC FUND INC DEF 14A neutral materiality 6/10

23-06-2026

AB Sustainable International Thematic Fund Inc. is soliciting stockholder votes for two proposals at a joint meeting on August 3, 2026: election of directors and approval of a new investment advisory agreement with AllianceBernstein L.P. due to a planned merger of its majority owner, Equitable Holdings, with Corebridge Financial. The new agreement is identical in terms and fees to the current one, and no changes to portfolio management or services are expected. However, if stockholders do not approve the new agreement and the merger triggers an assignment, the current agreement would terminate, requiring interim measures.

  • · The record date for voting is June 12, 2026.
  • · Stockholders can vote via internet, telephone, mail, at the virtual meeting, or through a live agent at (800) 311-1512.
  • · The nominees for the Board are Alexander Chaloff, R. Jay Gerken, Jeffrey R. Holland, Jeanette W. Loeb, John A. Lovito, Carol C. McMullen, Garry L. Moody, and Emilie D. Wrapp.
  • · If the new advisory agreement is not approved and the merger occurs, the Board may operate the Fund under an interim advisory agreement for up to 150 days.
Creative Media & Community Trust Corp DEF 14A neutral materiality 5/10

23-06-2026

Creative Media & Community Trust Corp (CMCT) filed a definitive proxy statement (DEF 14A) on June 23, 2026, for its 2026 Annual Meeting of Stockholders to be held virtually on July 30, 2026. The meeting will include the election of seven directors, a non-binding advisory vote on executive compensation, ratification of Deloitte & Touche LLP as independent auditor for fiscal year 2026, and approval of the 2026 Equity Incentive Plan. As of the record date of June 8, 2026, the company had 2,758,835 shares of common stock outstanding.

  • · The annual meeting will be held virtually on July 30, 2026 at 11:00 a.m. Pacific Time.
  • · Record date for stockholders entitled to vote is June 8, 2026.
  • · Proxy materials first sent to stockholders on or about June 26, 2026.
  • · Proposals include: election of 7 directors, advisory vote on executive compensation, ratification of Deloitte & Touche LLP as auditor, and approval of 2026 Equity Incentive Plan.
  • · Stockholders of record can vote by mail, telephone (1-800-652-8683), or online via https://www.envisionreports.com/CMCT.
  • · Virtual meeting access link: https://meetnow.global/M5UFTJT.
  • · The company's 2025 Annual Report on Form 10-K is available at https://shareholders.creativemediacommunity.com/financials/sec-filings.
AB CAP FUND, INC. DEF 14A neutral materiality 7/10

23-06-2026

AB CAP FUND, INC. filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a joint stockholder meeting scheduled for August 3, 2026. Stockholders are asked to elect eight directors and approve new investment advisory agreements with AllianceBernstein L.P. due to a planned merger of its majority owner, Equitable Holdings, with Corebridge Financial. The new agreements are identical in all material respects to current agreements, with no changes to fees, portfolio management, or services expected.

  • · Record date for voting is June 12, 2026.
  • · Meeting will be held virtually on August 3, 2026.
  • · If stockholders do not approve the new advisory agreement and a change of control occurs, the current agreement would terminate and the Adviser would not be able to continue serving the Fund.
  • · The merger is an all-stock transaction; Equitable stockholders will own ~49% and Corebridge stockholders ~51% of the combined company.
  • · All eight director nominees are current Board members.
AB BOND FUND, INC. DEF 14A neutral materiality 7/10

23-06-2026

AB Bond Fund, Inc. filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a joint meeting of stockholders to be held on August 3, 2026. Stockholders will vote on two proposals: (1) election of eight directors/trustees, and (2) approval of new investment advisory agreements with AllianceBernstein L.P. due to an anticipated change in control of the adviser following a merger between Equitable Holdings and Corebridge Financial. The new agreements are identical in all material respects to the current ones, with no changes to fees, portfolio management, or services. The Board unanimously recommends voting 'FOR' both proposals.

  • · Record date for voting is June 12, 2026.
  • · Meeting will be held virtually on August 3, 2026.
  • · If Proposal 2 is not approved and a change of control occurs, the Board may allow the Fund to operate under an interim advisory agreement for up to 150 days.
  • · The merger between Equitable and Corebridge is an all-stock transaction.
  • · Proxy solicitor is Sodali & Co., toll free (800) 311-1512.
AB CORPORATE SHARES DEF 14A neutral materiality 6/10

23-06-2026

AB Corporate Shares filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a joint stockholder meeting to be held on August 3, 2026. Stockholders are asked to elect eight director nominees and to approve new investment advisory agreements with AllianceBernstein L.P. following a planned merger of its majority owner, Equitable Holdings, with Corebridge Financial. The new agreements are identical in all material respects to the current ones, with no changes to fees, portfolio management, or services expected.

  • · Record date for voting is June 12, 2026.
  • · Stockholders can vote via internet, telephone, mail, at the virtual meeting, or through a live agent at (800) 311-1512.
  • · If stockholders do not approve the new advisory agreement and a change of control occurs, the Board may operate the Fund under an interim advisory agreement for up to 150 days.
  • · The merger between Equitable and Corebridge is an all-stock transaction; Equitable stockholders will own approximately 49% and Corebridge stockholders approximately 51% of the combined company.
AB Active ETFs, Inc. DEF 14A mixed materiality 7/10

23-06-2026

AB Active ETFs, Inc. filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a joint stockholder meeting scheduled on August 3, 2026. Stockholders are asked to elect directors and approve new investment advisory agreements with AllianceBernstein L.P. due to an anticipated ownership change following the Equitable-Corebridge merger. The new agreements are identical in fees and terms to the current ones, and no changes to portfolio management or services are expected. However, if stockholders do not approve the new agreements for any Fund, the filing warns that the Adviser may not be able to continue providing services, which could negatively impact the fund.

  • · Record date for voting is June 12, 2026.
  • · Filing date of proxy statement: June 23, 2026.
  • · If stockholders of a Fund do not approve the new advisory agreement, the Adviser may not be able to continue providing services, potentially harming the Fund.
  • · The transaction is an all-stock merger between Equitable and Corebridge, with Equitable stockholders owning ~49% and Corebridge stockholders ~51% of the combined company.
  • · All eight director nominees are current board members.
  • · The Funds' current investment advisory agreements would automatically terminate upon an assignment (change of control), requiring stockholder approval for continuation.
AB Multi-Manager Alternative Fund DEF 14A neutral materiality 4/10

23-06-2026

AB Multi-Manager Alternative Fund filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a joint stockholder meeting to be held August 3, 2026. Stockholders are asked to elect directors and approve new investment advisory agreements with AllianceBernstein L.P. due to a planned merger of the adviser's majority owner, Equitable Holdings, with Corebridge Financial. The new agreements are identical in all material respects to the current ones, with no changes to fees, portfolio management, or services, and the Board unanimously recommends voting 'FOR' both proposals.

  • · Record date for voting eligibility is June 12, 2026.
  • · If stockholders do not approve the new advisory agreement, the Board may operate under an interim agreement for up to 150 days.
  • · The merger is an all-stock transaction where Equitable stockholders will own ~49% and Corebridge stockholders ~51% of the combined company.
  • · All nominees for the Board are current directors: Alexander Chaloff, R. Jay Gerken, Jeffrey R. Holland, Jeanette W. Loeb, John A. Lovito, Carol C. McMullen, Garry L. Moody, and Emilie D. Wrapp.
  • · The proxy solicitation is being conducted by Sodali & Co. at (800) 311-1512.
AB FIXED INCOME SHARES INC DEF 14A neutral materiality 7/10

23-06-2026

AB Fixed-Income Shares, Inc. filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a joint stockholder meeting to be held on August 3, 2026. Stockholders are asked to elect eight directors and approve new investment advisory agreements with AllianceBernstein L.P. due to a planned merger of its majority owner, Equitable Holdings, with Corebridge Financial. The new agreements are identical in all material respects to the current ones, with no changes to fees, portfolio management, or services expected.

  • · Record date for voting is June 12, 2026.
  • · Stockholders can vote via internet, telephone, mail, at the virtual meeting, or through a live agent at (800) 311-1512.
  • · If the new advisory agreement is not approved and an assignment occurs, the Board may operate under an interim agreement for up to 150 days.
  • · All eight director nominees are current board members.
AB GLOBAL RISK ALLOCATION FUND, INC. DEF 14A neutral materiality 7/10

23-06-2026

AB Global Risk Allocation Fund, Inc. filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a joint stockholder meeting scheduled on August 3, 2026. Stockholders are asked to elect eight director nominees (all current board members) and to approve new investment advisory agreements with AllianceBernstein L.P. due to an anticipated change in control of the adviser following the Equitable-Corebridge merger. The new agreements are identical in all material respects to the current ones, with no changes to fees, portfolio management, or services expected; however, if stockholders do not approve the new agreements and the merger triggers an assignment, the current agreements would terminate and the fund would need to rely on an interim agreement or other alternatives.

  • · Record date for voting eligibility is June 12, 2026.
  • · The merger may constitute an 'assignment' under the 1940 Act, triggering automatic termination of current advisory agreements.
  • · If the new agreement is not approved and the merger closes, the Board has approved an interim advisory agreement of up to 150 days.
  • · Stockholders can vote via internet, telephone, mail, at the virtual meeting, or through a live agent at (800) 311-1512.
  • · The proxy statement includes eight director nominees, all current board members.
AB RELATIVE VALUE FUND, INC. DEF 14A neutral materiality 7/10

23-06-2026

AB Relative Value Fund, Inc. filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a joint meeting of stockholders to be held on August 3, 2026. Stockholders will vote on two proposals: (1) election of eight directors, and (2) approval of a new investment advisory agreement with AllianceBernstein L.P. due to a planned merger of its majority owner, Equitable Holdings, with Corebridge Financial. The new agreement is identical in all material respects to the current one, with no changes to fees, portfolio management, or services. The Board unanimously recommends voting FOR both proposals.

  • · Record date for voting is June 12, 2026.
  • · If stockholders do not approve the new advisory agreement and a change of control occurs, the Board may operate under an interim advisory agreement for up to 150 days.
  • · The merger is an all-stock transaction; Equitable stockholders will own approximately 49% and Corebridge stockholders approximately 51% of the combined company.
  • · The proxy statement is filed under SEC file number 811-00126.
AB DISCOVERY GROWTH FUND, INC. DEF 14A mixed materiality 6/10

23-06-2026

AB Discovery Growth Fund, Inc. has filed a definitive proxy statement (DEF 14A) for a joint meeting of stockholders to be held on August 3, 2026. Stockholders will vote on two proposals: (1) the election of eight directors, and (2) approval of a new investment advisory agreement with AllianceBernstein L.P., necessitated by the planned all-stock merger of Equitable Holdings and Corebridge Financial, which may cause an automatic termination of the current advisory agreement. The new agreement is identical in all material respects to the current one, with no changes to fees, portfolio management, or services expected; however, if stockholders do not approve the new agreement and the merger proceeds, an interim advisory agreement of up to 150 days would be required.

  • · Record date for voting is June 12, 2026.
  • · If stockholders do not approve the new advisory agreement and a change of control occurs, the Board may rely on an interim advisory agreement of up to 150 days, after which alternatives (liquidation, reorganization, or other actions) must be considered.
  • · Proxy solicitor is Sodali & Co., toll free at (800) 311-1512.
Equitable Holdings, Inc. DEFM14A neutral materiality 9/10

23-06-2026

Equitable Holdings, Inc. (EQH-PC) and Corebridge Financial, Inc. have filed a joint proxy statement/prospectus for a merger transaction where both companies will become wholly-owned subsidiaries of a newly formed entity, New Equitable (to be renamed Equitable Holdings, Inc.). The mergers are expected to close by year-end 2026, subject to stockholder approvals, regulatory clearances, and other conditions. No appraisal rights are available to stockholders of either company, and the transaction is intended to be tax-free under Section 351 of the Code.

  • · Corebridge had more than $380 billion in assets under management and administration as of March 31, 2026.
  • · Equitable had approximately $1.1 trillion in assets under management and administration as of March 31, 2026.
  • · New Equitable Common Stock will be listed on the NYSE under the symbol 'EQH'.
  • · Conditions to closing include regulatory approvals from insurance regulators in Arizona, Colorado, Missouri, New York, Texas, and Vermont, as well as HSR Act clearance.
  • · The transaction is intended to qualify as a tax-free exchange under Section 351 of the Code, with no gain or loss recognized by stockholders except for cash received in lieu of fractional shares.
AB GLOBAL BOND FUND, INC. DEF 14A neutral materiality 7/10

23-06-2026

AB Global Bond Fund, Inc. filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a joint stockholder meeting scheduled for August 3, 2026. Stockholders are asked to elect eight directors and approve new investment advisory agreements with AllianceBernstein L.P. due to a planned merger of Equitable Holdings with Corebridge Financial, which may trigger an 'assignment' under the 1940 Act. The new agreements are identical in all material respects to the current ones, with no changes to fees, portfolio management, or services expected.

  • · Record date for voting eligibility is June 12, 2026.
  • · If stockholders do not approve the new advisory agreement and an assignment occurs, the Board may allow the Fund to operate under an interim advisory agreement for up to 150 days.
  • · The merger is structured as an all-stock transaction; Equitable stockholders will own approximately 49% and Corebridge stockholders approximately 51% of the combined company.
  • · Voting methods include internet, telephone, mail, virtual meeting attendance, or via live agent at (800) 311-1512.
Bernstein Fund Inc DEF 14A neutral materiality 7/10

23-06-2026

Bernstein Fund Inc. filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a Joint Meeting of Stockholders to be held on August 3, 2026. Stockholders are asked to vote on two proposals: (1) election of eight directors/trustees, and (2) approval of new investment advisory agreements with AllianceBernstein L.P. due to a planned merger of Equitable Holdings, Inc. with Corebridge Financial, Inc., which may constitute an assignment under the 1940 Act. The new agreements are identical in all material respects to the current ones, with no changes to fees, portfolio management, or services expected.

  • · Record Date for voting is June 12, 2026.
  • · Meeting will be held virtually on August 3, 2026.
  • · Stockholders can vote via Internet, telephone, mail, at the virtual meeting, or through a live agent at (800) 311-1512.
  • · If the new advisory agreement is not approved and an assignment occurs, the Board may allow the Fund to operate under an interim advisory agreement for up to 150 days.
  • · The merger between Equitable and Corebridge is structured as an all-stock transaction.
  • · All eight director nominees are current members of the Board.
Corebridge Financial, Inc. DEFM14A neutral materiality 9/10

23-06-2026

Corebridge Financial, Inc. and Equitable Holdings, Inc. are pursuing a merger transaction where both companies will become wholly-owned subsidiaries of a newly formed entity, New Equitable (to be renamed Equitable Holdings, Inc.). The merger is expected to close by year-end 2026, subject to stockholder approvals, regulatory clearances, and other conditions. No appraisal rights are available to stockholders, and the transaction is intended to be tax-free under Section 351 of the Code.

  • · No appraisal rights are available to Corebridge or Equitable stockholders in connection with the mergers.
  • · The transaction is intended to qualify as a tax-free exchange under Section 351 of the Code, with no gain or loss recognized except for cash received in lieu of fractional shares.
  • · Conditions to closing include: listing of New Equitable shares on NYSE, regulatory approvals from insurance regulators in Arizona, Colorado, Missouri, New York, Texas, and Vermont, HSR Act clearance, and consent from Equitable clients representing 75% of annualized advisory fees as of February 28, 2026.
  • · New Equitable Common Stock will be listed on the NYSE under the symbol 'EQH' (or another agreed ticker).
  • · Corebridge had over $380 billion in assets under management and administration as of March 31, 2026; Equitable had approximately $1.1 trillion.
  • · Corebridge's principal office and New Equitable's principal office are both at 2919 Allen Parkway, Woodson Tower, Houston, Texas 77019.
Taylor Morrison Home Corp DEFM14A mixed materiality 9/10

23-06-2026

Taylor Morrison Home Corp (TMHC) is soliciting stockholder approval for a merger agreement with Berkshire Hathaway Inc. and its wholly owned subsidiary, WXYZ Merger Sub, Inc., whereby TMHC will become a wholly owned subsidiary of Berkshire Hathaway. The special meeting to vote on the merger will be held virtually on July 22, 2026. The Board unanimously recommends voting 'FOR' the merger proposal, the advisory compensation proposal, and the adjournment proposal.

  • · Record date: June 22, 2026 (91,999,956 shares outstanding, held by ~311 holders of record).
  • · Special meeting: July 22, 2026, 8:00 a.m. Pacific Time, virtual-only format at www.virtualshareholdermeeting.com/TMHC2026SM.
  • · Three proposals: (1) Merger proposal – requires affirmative vote of majority of outstanding shares; (2) Advisory compensation proposal (non-binding) – majority of shares present at meeting; (3) Adjournment proposal – majority of shares present at meeting.
  • · Failure to vote shares has the same effect as a vote 'AGAINST' the merger proposal.
  • · Abstentions count as 'AGAINST' on all proposals. Broker non-votes will have no effect on the advisory compensation or adjournment proposals but will be equivalent to a vote against the merger.
  • · Merger Sub was formed on May 28, 2026, and has not engaged in any business activities prior to the merger.
  • · TMHC has been named America’s Most Trusted Builder by Lifestory Research since 2016, and was on Fortune’s World’s Most Admired Companies list in 2026.
ALLIANCEBERNSTEIN GLOBAL HIGH INCOME FUND INC DEF 14A neutral materiality 7/10

23-06-2026

AllianceBernstein Global High Income Fund Inc. (AWF) is soliciting stockholder approval for a new investment advisory agreement with AllianceBernstein L.P. due to an anticipated change in control of the Adviser's majority owner, Equitable Holdings, Inc., which is merging with Corebridge Financial, Inc. in an all-stock transaction. The new agreement is identical in all material respects to the current one, with no changes to fees, portfolio management, or services. Each Board unanimously recommends voting 'FOR' the proposal.

  • · The merger is an all-stock transaction; Equitable stockholders will own ~49% and Corebridge stockholders ~51% of the combined company.
  • · If stockholders do not approve the new agreement and a change of control occurs, the current agreement terminates; the Board has approved an interim advisory agreement of up to 150 days.
  • · The Record Date for voting is June 12, 2026; the Meeting is scheduled for August 3, 2026.
  • · The Adviser is expected to bear all proxy solicitation costs.
  • · An abstention or broker non-vote will count as a vote against the proposal.
UNIVERSAL SAFETY PRODUCTS, INC. DEF 14A mixed materiality 9/10

23-06-2026

Universal Safety Products, Inc. is seeking stockholder approval to amend its Articles of Incorporation to increase authorized common shares from 20,000,000 to 525,000,000 and to authorize 25,000,000 shares of blank check preferred stock. As of the record date, the company had only 3,028,363 common shares outstanding and 5,371,637 authorized but unissued shares remaining. While the board cites flexibility for future financing and strategic transactions, the massive dilution potential (from 20M to 525M authorized shares) and the blank check preferred authorization could significantly dilute existing stockholders' voting power and earnings per share, and may be used as anti-takeover measures.

  • · The company currently has only 3,028,363 shares outstanding out of 20,000,000 authorized, with 5,371,637 authorized but unissued shares remaining.
  • · Approval requires affirmative vote of two-thirds (2/3) of shares outstanding on record date.
  • · No dissenters' or appraisal rights are available under Maryland law for these proposals.
  • · The board retains discretion to abandon and not implement either amendment at any time before it becomes effective.
  • · The company has no definitive agreements to issue the additional shares but is investigating financing sources.
  • · The preferred stock, if authorized, can be issued in series with terms determined by the board without further stockholder vote.
  • · The company is also considering multiple amendments and may file an amended and restated Articles of Incorporation if more than one is approved.
AB TRUST DEF 14A neutral materiality 7/10

23-06-2026

AB Trust filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a joint meeting of stockholders to be held on August 3, 2026. Stockholders are asked to elect eight director nominees (all current directors) and to approve new investment advisory agreements with AllianceBernstein L.P. due to an anticipated change in ownership of the adviser resulting from the planned all-stock merger between Equitable Holdings, Inc. and Corebridge Financial, Inc. (Equitable stockholders expected to own ~49%, Corebridge ~51% of combined company). The proposed advisory agreements are identical in all material respects to current agreements, with no changes to fees, portfolio management, or services — but stockholder approval is required under the 1940 Act to avoid automatic termination upon assignment.

  • · Record date for voting eligibility is June 12, 2026.
  • · Meeting will be held virtually on August 3, 2026.
  • · If the new advisory agreements are not approved by stockholders before the assignment occurs, the current advisory agreements would terminate, but the Board has approved an interim advisory agreement with a duration of no more than 150 days.
  • · Stockholders can vote via internet, telephone, mail, at the virtual meeting, or through a live agent (Sodali & Co. toll-free at (800) 311-1512).
  • · All eight director nominees are current Board members.
AB PORTFOLIOS DEF 14A neutral materiality 6/10

23-06-2026

AB Portfolios filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a joint stockholder meeting to be held on August 3, 2026. Stockholders are asked to elect eight directors and approve new investment advisory agreements with AllianceBernstein L.P. due to a planned all-stock merger between Equitable Holdings and Corebridge Financial that may trigger an assignment under the 1940 Act. The new agreements are identical in all material respects to the current ones, with no changes to fees, portfolio management, or services expected.

  • · The record date for voting is June 12, 2026.
  • · If stockholders do not approve the new advisory agreement and a change of control occurs, the Board may operate under an interim advisory agreement for up to 150 days.
  • · The merger between Equitable and Corebridge is an all-stock transaction; Equitable stockholders will own approximately 49% and Corebridge stockholders approximately 51% of the combined company.
  • · The proxy statement lists eight director nominees, all current Board members.
  • · Stockholders can vote via internet, telephone, mail, at the virtual meeting, or through a live agent at Sodali & Co. (800) 311-1512.
BERNSTEIN SANFORD C FUND INC DEF 14A neutral materiality 6/10

23-06-2026

Sanford C. Bernstein Fund, Inc. filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a joint stockholder meeting scheduled for August 3, 2026. Stockholders are asked to elect eight directors and approve new investment advisory agreements with AllianceBernstein L.P. due to an anticipated change in control of the adviser following the Equitable-Corebridge merger. The new agreements are identical in all material respects to the current ones, with no changes to fees, portfolio management, or services, and the Board unanimously recommends voting 'FOR' both proposals.

  • · The record date for voting is June 12, 2026.
  • · If stockholders do not approve the new advisory agreement and a change of control occurs, the Board may operate under an interim advisory agreement for up to 150 days.
  • · The merger is structured as an all-stock transaction; Equitable stockholders will own approximately 49% and Corebridge stockholders approximately 51% of the combined company.
  • · The proxy statement includes eight director nominees, all of whom are current board members.
SPRUCE POWER HOLDING CORP DEF 14A neutral materiality 5/10

23-06-2026

Spruce Power Holding Corporation filed a definitive proxy statement (DEF 14A) for its 2026 annual meeting of stockholders to be held virtually on August 11, 2026. Key proposals include electing two Class C directors, advisory approval of executive compensation, ratifying CohnReznick LLP as auditor, approving redomiciliation from Delaware to Texas, and approving transfer restrictions to preserve net operating loss tax benefits. The filing also discloses executive compensation details for fiscal year 2025, including pay versus performance data, but does not provide specific financial results or period-over-period comparisons.

  • · Annual meeting will be held virtually on August 11, 2026 at 11:00 a.m. Eastern Time.
  • · Record date for voting is June 16, 2026.
  • · Proxy materials first made available on or about June 25, 2026.
  • · Proposals include: elect two Class C directors, advisory vote on executive compensation, ratify CohnReznick LLP as auditor, approve redomiciliation from Delaware to Texas, approve transfer restrictions for NOL tax benefits, and approve adjournment if needed.
  • · Board recommends FOR all proposals.
  • · Company headquarters: 820 Gessner Rd, Suite 500, Houston, Texas 77024.
20/20 Biolabs, Inc. DEF 14A mixed materiality 8/10

23-06-2026

20/20 Biolabs, Inc. filed a definitive proxy statement (DEF 14A) for its 2026 Annual Meeting, seeking stockholder approval for three key proposals: (1) ratification of independent auditors, (2) a charter amendment to increase authorized common shares from 50 million to 500 million, and (3) adoption of the 2026 Equity Incentive Plan authorizing up to 5 million shares with an annual evergreen increase of 7% of outstanding shares. The company has approximately 19.5 million shares outstanding on a fully-diluted basis and has issued 5,228 shares of series E convertible preferred stock (convertible at a variable price as low as 20% of Nasdaq's Minimum Price), which could require additional authorized shares. While the share increase provides flexibility for future capital needs, it carries potential anti-takeover implications and will dilute existing stockholders' ownership percentages.

  • · The charter amendment also removes provisions related to series A, A-1, A-2, and B preferred stock as all such shares have been converted to common stock.
  • · No dissenters' rights of appraisal are available under Delaware law for the charter amendment proposal.
  • · The 2026 Plan allows for incentive stock options, non-qualified stock options, stock appreciation rights, restricted awards, performance share awards, and performance compensation awards.
  • · Incentive stock options granted to holders of more than 10% of voting stock must have an exercise price of at least 110% of fair market value and a term not exceeding five years.
  • · The board recommends a 'FOR' vote on all three proposals.
AB MUNICIPAL INCOME FUND, INC. DEF 14A neutral materiality 7/10

23-06-2026

AB Municipal Income Fund, Inc. filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a Joint Meeting of Stockholders to be held on August 3, 2026. Stockholders are asked to elect eight directors and to approve new investment advisory agreements with AllianceBernstein L.P. due to a planned all-stock merger between Equitable Holdings and Corebridge Financial. The new agreements are identical in all material respects to the current ones, with no changes to fees, portfolio management, or services, but if not approved and a change of control occurs, the current agreements would terminate and the Board would need to consider alternatives.

  • · The record date for voting is June 12, 2026.
  • · Stockholders can vote via internet, telephone, mail, at the virtual meeting, or through a live agent at (800) 311-1512.
  • · If the new advisory agreement is not approved and a change of control occurs, the Board may operate under an interim advisory agreement for up to 150 days.
  • · The merger is expected to result in Equitable stockholders owning approximately 49% and Corebridge stockholders owning approximately 51% of the combined company.
AB Commercial Real Estate Private Debt Fund, LLC DEF 14A neutral materiality 7/10

23-06-2026

AB Commercial Real Estate Private Debt Fund, LLC is soliciting unitholder consent to approve the deemed assignment of its Management Agreement following the planned all-stock merger of Equitable Holdings (its indirect parent) with Corebridge Financial. The merger will create a new HoldCo where current Equitable stockholders will own ~49% and Corebridge stockholders ~51%, triggering a Change of Control Event under the Advisers Act. The Board recommends approval, noting no changes to fees, services, or expense provisions, and expects no material impact on the Investment Manager's leadership or strategy.

  • · Directors' beneficial ownership dollar ranges: Peter J. Gordon >$100,000; Edward Gellert $50,001–$100,000; Marguerite Brogan $50,001–$100,000; Matthew Bass None.
  • · All Directors and Executive Officers as a group beneficially own 26,044.830 Units, each representing less than 1% of outstanding Units.
  • · No voluntary fee waivers were applied in fiscal years 2024 or 2025.
  • · The Management Agreement will continue its current one-year term with annual renewals, terminable upon 60 days' notice by either party.
  • · The merger is subject to regulatory approvals and other conditions; closing is anticipated to be deemed a Change of Control Event.
  • · AB's current leadership and key investment teams are expected to remain in place post-merger.
AB INSTITUTIONAL FUNDS INC DEF 14A neutral materiality 6/10

23-06-2026

AB Institutional Funds Inc. filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a joint stockholder meeting scheduled for August 3, 2026. Stockholders are asked to elect eight directors and approve new investment advisory agreements with AllianceBernstein L.P. due to a planned merger of Equitable Holdings with Corebridge Financial, which may trigger an 'assignment' under the 1940 Act. The new agreements are identical in all material respects to current ones, with no changes to fees, portfolio management, or services expected.

  • · The record date for voting is June 12, 2026.
  • · If stockholders do not approve the new advisory agreement and an assignment occurs, the Board may allow the Fund to operate under an interim advisory agreement for up to 150 days.
  • · The merger is an all-stock transaction between Equitable and Corebridge.
  • · Stockholders can vote via internet, telephone, mail, at the virtual meeting, or through a live agent at (800) 311-1512.
AB Private Lending Fund DEF 14A neutral materiality 5/10

23-06-2026

AB Private Lending Fund filed a DEF 14A proxy statement on June 23, 2026, for its Annual Meeting of Shareholders scheduled for July 31, 2026. The proposals include the re-election of trustees Matthew Bass and John G. Jordan to three-year terms, ratification of PricewaterhouseCoopers LLP as independent auditor for 2026, and approval of a new investment advisory agreement with AB Private Credit Investors LLC. As of June 12, 2026, the fund had 6,604,286 outstanding shares held by 7 shareholders of record. The board consists of five trustees, and the fund retained Sodali to assist with proxy solicitation at a cost not exceeding $25,000.

  • · The record date for shareholder voting entitlement is June 12, 2026.
  • · A quorum requires at least 50% of outstanding shares present or represented by proxy.
  • · The Investment Advisory Agreement Proposal requires approval by a 'majority of the outstanding voting securities' as defined by the 1940 Act (67% of shares present if >50% quorum, or >50% of outstanding shares, whichever is less).
  • · The fund's board has three independent trustees out of five total members.
  • · Proxy materials are available online at https://proxyvotinginfo.com/p/alliancebernstein2026.
  • · Shareholders may register in advance to attend the virtual Annual Meeting by emailing sfs-meetinginfo@sodali.com.
AB EQUITY INCOME FUND INC DEF 14A neutral materiality 7/10

23-06-2026

AB EQUITY INCOME FUND INC filed a definitive proxy statement (DEF 14A) on June 23, 2026, for a Joint Meeting of Stockholders to be held on August 3, 2026. Stockholders are asked to elect eight directors and approve new investment advisory agreements with AllianceBernstein L.P. due to a planned merger of its majority owner, Equitable Holdings, with Corebridge Financial. The new agreements are identical in all material respects to current agreements, with no changes to fees, portfolio management, or services expected.

  • · Record date for voting eligibility is June 12, 2026.
  • · Meeting will be held virtually on August 3, 2026.
  • · If stockholders do not approve the new advisory agreement and a transfer of control occurs, the Board may operate under an interim advisory agreement for up to 150 days.
  • · The merger is an all-stock transaction; no fee changes or portfolio management changes are anticipated.
  • · Stockholders can vote via internet, telephone, mail, at the virtual meeting, or through a live agent at (800) 311-1512.
NEONC TECHNOLOGIES HOLDINGS, INC. DEF 14A neutral materiality 3/10

23-06-2026

NeOnc Technologies Holdings, Inc. filed a DEF 14A proxy statement for its 2026 Annual Meeting of Stockholders to be held virtually on August 14, 2026. Proposals include electing two Class I directors, amending the 2023 Equity Incentive Plan to increase authorized shares by 1,000,000 and add annual increases through 2033, ratifying CBIZ CPAs P.C. as auditor, and approving adjournment if needed. The filing provides voting details but no financial performance data or period comparisons.

  • · Annual Meeting to be held on August 14, 2026 at 10:00 a.m. Pacific Daylight Time.
  • · Record date for voting is June 15, 2026.
  • · Proposal Two seeks to amend the Incentive Plan to add 1,000,000 shares plus annual increases equal to 20% of outstanding shares from 2027 to 2033.
  • · Proposal One: election of two Class I directors for three-year terms ending in 2029.
  • · Proposal Four: approve adjournment if necessary to solicit additional proxies.
  • · Must request printed materials by July 28, 2026.
  • · Preliminary voting results to be announced at the meeting; final results filed within four business days on Form 8-K.
AB LARGE CAP GROWTH FUND INC DEF 14A neutral materiality 7/10

23-06-2026

AB Large Cap Growth Fund Inc filed a definitive proxy statement (DEF 14A) for a Joint Meeting of Stockholders scheduled for August 3, 2026. Stockholders are asked to elect eight director nominees and approve a new investment advisory agreement with AllianceBernstein L.P., required due to a planned merger of the Adviser's majority owner, Equitable Holdings, with Corebridge Financial. The proposals are unanimously recommended by the Boards, and no changes to fees, portfolio management, or services are expected under the new agreement.

  • · Record date for voting is June 12, 2026.
  • · The new investment advisory agreement is identical in all material respects to the current agreement, except for effective and termination dates.
  • · In the event of non-approval and a change in control, the Board has approved an interim advisory agreement with a duration of no more than 150 days.
  • · Equitable stockholders will own approximately 49% of the combined company post-merger, with Corebridge stockholders owning approximately 51%.
  • · Stockholders can vote via Internet, telephone, mail, virtual meeting, or by live agent through Sodali & Co. at (800) 311-1512.
AB Private Credit Investors Corp DEF 14A neutral materiality 5/10

23-06-2026

AB Private Credit Investors Corp filed a DEF 14A proxy statement for its 2026 annual meeting, seeking stockholder approval to re-elect directors J. Brent Humphries and Terry Sebastian, ratify PricewaterhouseCoopers as auditor, and approve a new investment advisory agreement with AB Private Credit Investors LLC. The record date is June 12, 2026, with 80,978,835.78 shares outstanding held by 4,261 holders. The meeting will be held on or about July 31, 2026.

  • · The annual meeting will be held virtually; stockholders must register in advance by emailing sfs-meetinginfo@sodali.com.
  • · Proxies may be revoked by delivering written notice to the Fund's Secretary at 501 Commerce Street, Nashville, TN 37203.
  • · The Fund has retained Sodali to assist in proxy solicitation at a cost not exceeding $25,000.
  • · Stockholders do not have appraisal rights for any matter to be acted upon.
  • · The Board has an Audit Committee and a Nominating and Corporate Governance Committee.

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