Company: GAINI
Filing Date: 2025-06-20
Form Type: DEF 14A
Source: 0001193125-25-143255
Chunk: 32

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-06-20
Form: DEF 14A
Chunk 32
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 | 106,874 |
| John H. Outland          |     |                   | 52,000 |     |                    | 245,000 |
| Anthony W. Parker        |     |                   | 48,500 |     |                    | 229,250 |
| Walter H. Wilkinson, Jr. |     |                   | 44,000 |     |                    | 206,000 |

| (1) | Includes compensation the director received from Gladstone Capital and Gladstone Alternative as part of our Fund Complex. Also includes compensation the director received from Gladstone Commercial, our affiliate and a REIT, and Gladstone Land, our affiliate and a REIT. |

| (2) | Mr. Adelgren resigned as a director of the Company, effective December 15, 2024. |

For our fiscal year ended March 31, 2025, as compensation for serving on our Board, each of our independent directors received an annual fee of $25,000, an additional $1,000 for each Board meeting attended, and an additional $1,000 for each committee meeting attended if such committee meeting took place on a day other than when the full Board met. In addition, the chairperson of the Audit Committee received an annual fee of $7,500, the chairpersons of each of the Compensation and Valuation Committees received an annual fee of $3,000 and the chairperson of the Ethics Committee received an annual fee of $1,000 for their additional services in these capacities. We also reimburse our directors for their reasonable out-of-pocketexpenses incurred in attending Board and committee meetings. We do not pay any compensation to directors who also serve as our officers, or as officers or directors of our Adviser or our Administrator, in consideration for their service to us. Our Board may change the compensation of our independent directors in its discretion. None of our independent directors received any compensation from us during the fiscal year ended March 31, 2025, other than for Board or committee service and meeting fees. 32

COMPENSATION COMMITTEE REPORT 2 The Compensation Committee has reviewed and discussed with management the Compensation Discussion and Analysis (“CD&A”) contained in this Proxy Statement. Based on this review and discussion, the Compensation Committee has recommended to the Board of Directors that the CD&A be included in this Proxy Statement and incorporated into our Annual Report on Form 10-Kfor the fiscal year ended March 31, 2025. Submitted by the Compensation Committee John H. Outland,