Company: PRIF-PJ
Filing Date: 2025-09-03
Form Type: PRE 14A
Source: 0001554625-25-000063
Chunk: 33

Company: Priority Income Fund, Inc.
Filing Date: 2025-09-03
Form: PRE 14A
Chunk 33
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holders’ obligations.

In making the determination that Transfer Restrictions Proposal is in the best interest of the Fund, the Board considered the following:

• As of the Record Date, there are [ ] shares of common stock outstanding that are owned by [ ] stockholders of record;

• There is currently no market for the common stock; however, following a Listing, the common stock will generally be freely transferable subject to applicable law;

• Even if a substantial number of sales are not affected, the mere perception of the possibility of these sales could depress the market price of the common stock and have a negative effect on the Fund’s ability to raise capital in the future;

• Anticipated downward pressure on the common stock price due to actual or anticipated sales of the common stock from this market overhang could cause some institutions or individuals to engage in short sales of the common stock, which could itself cause the price of the common stock to decline; and

• The terms of the proposed transfer restrictions are in line with the transfer restrictions imposed on similarly situated closed-end funds’ stockholders and business development companies’ stockholders.

The description of the Transfer Restrictions Proposal set forth above is qualified in its entirety by reference to the full text of the new Section 5.7 of the proposed Articles of Amendment and Restatement, which are attached hereto as Exhibit A and incorporated herein by reference.

The Board has unanimously declared the Transfer Restrictions Proposal advisable and in the best interests of the Fund and directed that the Transfer Restrictions Proposal be submitted to the stockholders of the Fund for their consideration. A stockholder can vote for or against, or abstain from voting on, the Transfer Restrictions Proposal. In the absence of instructions to the contrary, it is the intention of the persons named as proxies to vote such proxy FOR the approval of the Transfer Restrictions Proposal. Approval of the Transfer Restrictions Proposal requires the affirmative vote of the holders of a majority of shares outstanding and entitled to vote thereon. The Fund’s common stockholders and preferred stockholders vote together as one class with respect to the Transfer Restrictions Proposal. Each share of common stock and preferred stock entitles the holder thereof to one vote. Even if approved by the Fund’s stockholders, the Transfer

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Restrictions Proposal will not be implemented unless and until the Listing occurs, and will remain subject to the final approval of the Board. The Board has the discretion to waive the application of the transfer restrictions as to any particular holder of the common stock without making such waiver applicable to the entire class of