Company: EQS
Filing Date: 2025-04-10
Form Type: 10-K
Source: 0001712543-25-000016
Chunk: 44

Company: EQUUS TOTAL RETURN, INC.
Filing Date: 2025-04-10
Form: 10-K
Item: Item 8
Chunk 44
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 Accordingly, for restricted stock awards, we measure the grant date fair
value based upon the market price of our common stock on the date of the grant and amortize the fair value of the awards as
share-based compensation expense over the requisite service period, which is generally the vesting term. Inasmuch as all existing
awards under the Incentive Plan became fully-vested prior to 2021, we recorded no compensation expense relating to awards made under
the Incentive Plan for the years ended December 31, 2024, 2023 and 2022.

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  TableOfContents  

Segments - Equus
operates as a single segment with a principal investment objective to maximize total return from generating current income from debt investments
and current income and capital appreciation from equity and equity-related investments. The Company’s Investment Committee and Chief
Executive Officer collectively perform the function that allocates resources and assesses performance, and thus together, serve as the
Company’s chief operating decision maker (the “ CODM”). Among other metrics, the CODM uses net investment income as a
primary GAAP profit or loss metric used in making operating decisions, which can be found on the Statement of Operations along with significant
expenses. The measure of segment assets is reported on the Balance Sheets as total assets.

  (4)      RELATED PARTY TRANSACTIONS AND AGREEMENTS  

Except as
noted below, as compensation for services to the Fund, each Independent Director receives an annual fee of $40,000 paid quarterly in
arrears, a fee of $2,000 for each meeting of the Board of Directors or committee thereof attended in person, a fee of $1,000 for
participation in each telephonic meeting of the Board or committee thereof, and reimbursement of all out-of-pocket expenses relating
to attendance at such meetings. The chair of each of our standing committees (audit, compensation, and nominating and governance)
also receives an annual fee of $50,000, payable quarterly in arrears. We may also pay other one-time or recurring fees to members of
our Board of Directors in special circumstances. None of our interested directors receive annual fees for their service on the Board
of Directors. We may also pay other one-time or recurring fees to members of our Board of Directors in special circumstances. None
of our interested directors receive annual fees for their service on the Board of Directors.

In respect
of services provided to the Fund by members of the