Company: PNNT
Filing Date: 2025-12-17
Form Type: DEF 14A
Source: 0001193125-25-322723
Chunk: 25

Company: PENNANTPARK INVESTMENT CORP
Filing Date: 2025-12-17
Form: DEF 14A
Chunk 25
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1) We do not have a profit sharing or retirement plan, and directors do not receive any pension or retirement benefits from us. (2) Mr. Allorto is an employee of the Administrator. Certain Relationships and Related Party Transactions The Company’s investment activities are managed by the Adviser and supervised by the Board, of which two-thirds of the members are Independent Directors. The Company’s Investment Advisory Management Agreement with the Adviser (the “Investment Management Agreement”) was most recently amended and restated in April 2019 and re-approved by the Board, including a majority of the Independent Directors, in May 2025. Under the Investment Management Agreement, the Adviser, subject to the overall supervision of the Board, manages the day-to-day operations of and provides investment advisory services to the Company. For providing these services, the Adviser receives a fee from the Company, consisting of two components: a base management fee and an incentive fee. For the fiscal year ended September 30, 2025, the Adviser earned a base management fee of $16.2 million and an incentive fee of $9.8 million from the Company. The Company’s Administration Agreement with the Administrator was re-approved by the Board, including a majority of the Independent Directors, in May 2025 and was amended (as amended, the "Administration Agreement") with Board approval, including a majority of the Independent Directors, on July 1, 2022. Under the Administration Agreement, the Company has agreed to reimburse the Administrator for its allocable portion of overhead and other expenses incurred by the Administrator in performing its obligations under the Administration Agreement, including rent and the Company’s allocable portion of the costs of compensation and related expenses of the CCO, Chief Financial Officer, Corporate Counsel and their respective staffs. The Company’s Chief Financial Officer is a Managing Director of the Administrator. For the fiscal year ended September 30, 2025, the Adviser and the Administrator, collectively, were reimbursed $1.4 million from the Company for the services described above. The Adviser has granted a non-exclusive, royalty-free license to the Company to use the name “PennantPark.” In addition, pursuant to the terms of the Administration Agreement, the Administrator provides the Company with the office facilities and administrative services necessary to conduct its day-to-day operations. Arthur H. Penn is the managing member of the Adviser and the Administrator.

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The Audit Committee of the Board, in consultation with the Company’s Chief