KCAP Financial, Inc. (NASDAQ:KCAP) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07 Submission of Matters to a Vote of Security Holders.
The Company’s shareholders elected Christopher Lacovara and Dayl W. Pearson as Class III directors to each serve for a three-year term, or until their successors are duly elected and qualified. The results of the vote were as follows:
| Nominee | For | Withheld | Broker Non-Votes |
| Christopher Lacovara | 9,444,317 | 2,575,362 | 21,999,924 |
| Dayl W. Pearson | 9,700,087 | 2,319,592 | 21,999,924 |
The other directors to serve after the Annual Meeting were as follows:
|
Class I Directors (terms expiring in 2019) |
Class II Directors (terms expiring in 2020) |
| C. Turney Stevens | Albert G. Pastino |
| Dean C. Kehler | C. Michael Jacobi |
| John A. Ward, III |
Proposal 2: Advisory Vote on Executive Compensation
The compensation paid to the Company’s named executive officers was approved by a non-binding, advisory vote.The results of the vote were as follows:
| For | Against | Abstain | Broker Non-Votes |
| 8,515,960 | 3,172,665 | 331,054 | 21,999,924 |
Proposal 3: Ratification of Independent Registered Public Accounting Firm
The Company’s shareholders ratified the selection of Ernst & Young LLP to serve as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2018. The results of the vote were as follows:
| For | Against | Abstain |
| 33,068,709 | 662,566 | 288,328 |
About KCAP Financial, Inc. (NASDAQ:KCAP)
KCAP Financial, Inc. is an internally managed, non-diversified closed-end investment company. The Company has approximately three principal areas of investments. First, the Company originates, structures and invests in senior secured term loans and mezzanine debt primarily in privately-held middle market companies (the debt securities portfolio). In addition, the Company may invest in the equity securities of privately held middle market companies. Second, the Company invests in asset management companies (the Asset Manager Affiliates) that manage collateralized loan obligation funds (CLO Funds). Third, the Company invests in debt and subordinated securities issued by CLOs (CLO fund securities). These CLO fund securities are primarily managed by its Asset Manager Affiliates, but from time-to-time the Company makes investments in CLO Fund Securities managed by other asset managers. The CLO funds typically invest in syndicated loans, high-yield bonds and other credit instruments.
