Company: EQS
Filing Date: 2025-05-12
Form Type: DEF 14A
Source: 0001712543-25-000028
Chunk: 9

Company: EQUUS TOTAL RETURN, INC.
Filing Date: 2025-05-12
Form: DEF 14A
Chunk 9
---
 on a review of filings with the SEC and other
records of the Company, the Company is aware of three beneficial owners of more than 5% of the outstanding shares of the Company’s
common stock: (i) John A. Hardy; (ii) Howard Todd Horberg; and (iii) Michael Tokarz.

How much stock do the Company’s directors and executive officers own?

The following table shows the amount of the Company’s
common stock beneficially owned (unless otherwise indicated) as of April 1, 2025, by (1) any person known to the Company to be the
beneficial owner of more than 5% of the outstanding shares of the Company’s common stock, (2) each director/director nominee
of the Company, (3) each named executive officer, and (4) all directors/director nominees and executive officers as a group.

The number of shares beneficially owned by each entity,
person, director/director nominee, or executive officer is determined under SEC rules and the information is not necessarily indicative
of beneficial ownership for any other purpose. Under such rules, beneficial ownership includes any shares as to which the entity or individual
has sole or shared voting power or investment power and also any shares that the entity or individual had the right to acquire as of April
1, 2025, or within 60 days after April 1, 2025, through the exercise of any stock option or other right. Unless otherwise indicated, to
our knowledge each individual has sole investment and voting power, or shares such powers with his spouse, with respect to the shares
set forth in the table.

| Name                                                        |     | Sole Voting and Investment Power |           |     | Other Beneficial Ownership |           |     | Total |           |     | Percent of Class Outstanding |       |   |
| Fraser Atkinson                                             |     |                                  |    45,591 |     |                            |         — |     |       |    45,591 |     |                              |     * |   |
| Kenneth I. Denos                                            |     |                                  |   265,754 |     |                            |         — |     |       |   265,754 |     |                              |  1.96 | % |
| Henry W. Hankinson                                          |     |                                  |    19,500 |     |                            |         — |     |       |    19,500 |     |                              |     * |   |
| John A