Company: GAINI
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001321741-25-000018
Chunk: 41

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 41
---
 and executive officer of the Adviser, which, as of June 30, 2025, is 100% indirectly owned by Mr. Gladstone. David Dullum (our president) is also the executive vice president of private equity (buyouts) of the Adviser. Michael LiCalsi, our chief administrative officer, co-general counsel and co-secretary, also serves in the same roles for the Adviser and Administrator (in addition to serving as president of the Administrator). Effective July 10, 2025, Erich Hellmold was appointed as our co-general counsel and co-secretary. He was also appointed to the same roles also for the Adviser and the Administrator.

27

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 June 30,20252024Average total assets subject to base management fee(A)(B)$1,016,000 $923,600 Multiplied by prorated annual base management fee of 2.0%0.5 %0.5 %Base management fee(C)5,080 4,618 Credits to fees from Adviser - other(C)(1,399)(627)Net base management fee$3,681 $3,991 Loan servicing fee(C)$2,672 $2,222 Credits to base management fee - loan servicing fee(C)(2,672)(2,222)Net loan servicing fee$— $— Incentive fee – income-based$— $— Incentive fee – capital gains-based(D)(209)(3,788)Total incentive fee(C)$(209)$(3,788)Credits to fees from Adviser - other(C)— — Net total incentive fee$(209)$(3,788)(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 Statements of Operations. (D)