Company: HQL
Filing Date: 2025-04-14
Form Type: DEF 14A
Source: 0001104659-25-034659
Chunk: 9

Company: abrdn Life Sciences Investors
Filing Date: 2025-04-14
Form: DEF 14A
Chunk 9
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 control with the Investment Adviser. Mr. Goodson and Ms. Ferrari serve as executive officers of the Funds. As of April 1, 2025, Mr. Goodson owned between $1 — $10,000 of HQH. As of April 1, 2025, Ms. Ferrari did not own shares of the Funds. BOARD AND COMMITTEE STRUCTURE The Board of each Fund is comprised of six individuals, five of whom are not "interested persons" of the Fund as defined in the Investment Company Act of 1940, as amended (the "1940 Act") ("Independent Trustees"). Each Fund divides the Board into three classes, with each class having a term of three years. Each year, the term of office of one class will expire and the successor(s) elected to such class will serve for a three-year term. Each Board has appointed Mr. Reit, an Independent Trustee, as Chair. The Chair presides at meetings of the Trustees, participates in the preparation of the agenda for meetings of the Board, and acts as a liaison between the Trustees and management between Board meetings. Except for any duties specified herein, the designation as Chair does not impose on such Trustee any duties, obligations or liability that is greater than the duties, obligations or liability imposed on such person as a member of a Board, generally.

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The Board of each Fund holds regular quarterly meetings to consider and address matters involving the respective Fund. Each Board also may hold special meetings to address matters arising between regular meetings. The Independent Trustees also meet outside the presence of management in executive session and have engaged separate, independent legal counsel to assist them in performing their oversight responsibilities.

The Board of each Fund has established a committee structure that includes an Audit Committee, Nominating and Corporate Governance Committee and Private Venture Valuation Committee (each discussed in more detail below) to assist each Board in the oversight and direction of the business affairs of the respective Fund. All of the members of these Committees are Independent Trustees. Each Board may also designate working groups or ad hoc committees as it deems appropriate.

The Board of each Fund has determined that its leadership structure is appropriate for the Fund because it enables the Board to exercise informed and independent judgment over matters under its purview, allocates responsibility among committees in a manner that fosters effective oversight and allows the Board to devote appropriate resources to specific issues in a flexible manner as they arise. The Board periodically reviews its leadership structure as well as its overall structure, composition,