Company: OXLCZ
Filing Date: 2025-11-05
Form Type: N-CSRS
Source: 0001213900-25-106331
Chunk: 46

Company: Oxford Lane Capital Corp.
Filing Date: 2025-11-05
Form: N-CSRS
Chunk 46
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00% annualized). For such purposes, the Fund’s quarterly rate of return is determined by dividing its pre -incentivenet investment income by its reported net assets as of the prior period end. The Fund’s pre -incentivefee net investment income used to calculate the Incentive Fee is also included in the amount of its gross assets used to calculate the 2.00% Management Fee. The Fund pays Oxford Lane Management an Incentive Fee with respect to the Fund’s pre -incentivefee net investment income in each calendar quarter as follows: •No Incentive Fee in any calendar quarter in which the Fund’s pre -incentivefee net investment income does not exceed the hurdle of 1.75%; •100% of Fund’s pre -incentivefee net investment income with respect to that portion of such pre -incentivefee net investment income, if any, that exceeds the hurdle but is less than 2.1875% in any calendar quarter (8.75% annualized). The Fund refers to this portion of its pre -incentivefee net investment income (which exceeds the hurdle but is less than 2.1875%) as the “catch -up”. The “catch -up” is meant to provide Oxford Lane Management with 20% of the Fund’s pre -incentivefee net investment income as if a hurdle did not apply if the net investment income exceeds 2.1875% in any calendar quarter; and •20% of the amount of the Fund’s pre -incentivefee net investment income, if any, that exceeds 2.1875% in any calendar quarter (8.75% annualized) is payable to Oxford Lane Management (once the hurdle is reached and the “catch -up” is achieved, 20% of all pre -incentivefee net investment income thereafter is allocated to Oxford Lane Management). 43 OXFORD LANE CAPITAL CORP.
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2025
(Unaudited) NOTE 5. RELATED PARTY TRANSACTIONS (cont.) There is no offset in subsequent quarters for any quarter in which an Incentive Fee is not earned. For the six months ended September 30, 2025, the Fund recognized incentive fee expense of approximately $39.1million. At September 30, 2025, the Fund had an Incentive Fee payable of approximately $41.7million