Company: GAINI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001321741-25-000022
Chunk: 164

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 164
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. Erich Hellmold, our co-general counsel and co-secretary, serves in the same roles for the Adviser.

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The following table summarizes the base management fees, loan servicing fees, incentive fees, and associated non-contractual, unconditional, and irrevocable credits reflected in our accompanying Consolidated Statements of Operations:Three Months Ended September 30,Six Months Ended September 30,2025202420252024Average total assets subject to base management fee(A)(B)$1,091,400 $889,400 $1,053,700 $906,500 Multiplied by prorated annual base management fee of 2.0%0.5 %0.5 %1.0 %1.0 %Base management fee(C)5,457 4,447 10,537 9,065 Credits to fees from Adviser - other(C)(1,638)(669)(3,037)(1,296)Net base management fee$3,819 $3,778 $7,500 $7,769 Loan servicing fee(C)$2,932 $2,194 5,604 4,416 Credits to base management fee - loan servicing fee(C)(2,932)(2,194)(5,604)(4,416)Net loan servicing fee$— $— $— $— Incentive fee – income-based$310 $594 $310 $594 Incentive fee – capital gains-based(D)4,897 1,638 4,688 (2,150)Total incentive fee(C)$5,207 $2,232 $4,998 $(1,556)Credits to fees from Adviser - other(C)— — — — Net total incentive fee$5,207 $2,232 $4,998 $(1,556)(A)Average total assets subject to the base management fee is defined in the Advisory Agreement as total assets, including investments made with proceeds of borrowings, less any uninvested cash or cash equivalents resulting from borrowings, valued at the end of the applicable quarters within the respective periods and adjusted appropriately for any share issuances or repurchases during the periods.(B)Excludes our investment in Gladstone Alternative valued at the end of the applicable quarters within the respective periods.(C)Reflected as a line item on our accompanying Consolidated