DEF: Eagle Point Institutional Income Fund to Hold 2025 Annual Meeting of Shareholders

Eagle Point Institutional Income Fund will hold its 2025 Annual Meeting of Shareholders on May 23, 2025, to elect two trustees.

Summary

• Eagle Point Institutional Income Fund (the Fund) is holding its Annual Meeting of Shareholders on May 23, 2025, in Greenwich, CT.
• Shareholders will vote to elect two trustees: Mr. Scott W. Appleby and Mr. Jeffrey L. Weiss, each to serve until the 2028 annual meeting.
• The record date for determining shareholders eligible to vote is March 31, 2025.
• The Board of Trustees recommends voting for the election of both nominees.
• The proxy statement and annual report are available on the Fund's website.
• As of the Record Date, 12,423,963 shares of the Funds common shares of beneficial interest (the Common Shares), were issued and outstanding and 1,400,000 shares of the Funds 8.125% Series A Term Preferred Shares due 2029, par value $0.001 per share (the Preferred Shares), were issued and outstanding.

Sentiment

Score: 7

Explanation: The document is a standard proxy statement, which is generally neutral in tone. The Board recommends voting for the nominees, indicating a positive outlook on their continued service.

Positives

• The Board of Trustees is actively engaged in the management and supervision of the Fund's business and affairs.
• The Board has established an Audit Committee and a Nominating Committee, both comprised of Independent Trustees, to facilitate oversight.
• Shareholders have the opportunity to communicate with the Board in writing.
• The Fund provides multiple avenues for shareholders to access proxy materials and vote, including online, telephone, and mail.

Risks

• The document mentions that the Board recognizes that it is not possible to identify all of the risks that may affect the fund.
• The document mentions that it is not possible to develop processes and controls to eliminate or mitigate their occurrence or effects.

Future Outlook

The Fund anticipates holding its next annual meeting in May 2026.

Management Comments

• Thomas P. Majewski, Chief Executive Officer, encourages shareholders to vote their shares.
• The Board believes that having interested persons serve on the Board brings corporate and financial viewpoints that are, in the Boards view, crucial elements in its decision-making process.

Industry Context

This is a standard proxy statement for a registered investment company, outlining the procedures for the annual meeting and the election of trustees, which is a common practice in the investment management industry.

Comparison to Industry Standards

• The structure of the board with a mix of independent and interested trustees is common among closed-end funds.
• The fee structure, including a base management fee and an incentive fee, is typical for investment advisory agreements.
• The process for shareholder communication and proposal submission aligns with SEC regulations and industry best practices.
• The fund complex includes Eagle Point Credit Company Inc., Eagle Point Income Company Inc., Eagle Point Enhanced Income Trust and Eagle Point Defensive Income Trust, each of which is a closed-end management investment company registered under the 1940 Act which is part of the same fund complex as us.

Related Party Transactions

• The Fund has an Investment Advisory Agreement with Eagle Point Credit Management LLC, which manages the Fund's investments.
• The Fund pays the Adviser a base management fee and an incentive fee.
• The Fund has an Administration Agreement with Eagle Point Administration LLC, which provides administrative services.
• Payments under the Administration Agreement are equal to an amount based upon our allocable portion of the Administrators overhead in performing its obligations under the Administration Agreement, including rent, the fees and expenses associated with performing compliance functions and our allocable portion of the compensation of our chief financial officer, chief operating officer and CCO and our allocable portion of the compensation of any of their support staff.

Stakeholder Impact

• Shareholders have the opportunity to elect trustees who oversee the management of the Fund.
• The Fund's performance and governance impact shareholders' investment returns.
• The Fund's relationships with its Adviser and Administrator affect the fees and expenses paid by the Fund.

Next Steps

• Shareholders should review the proxy materials and vote on the election of trustees.
• The Fund will hold its Annual Meeting on May 23, 2025.
• The Fund will prepare for the next annual meeting in May 2026.

Key Dates

Keywords

Annual Meeting, Shareholders, Trustees, Proxy Statement, Eagle Point Institutional Income Fund, Election