# EDGAR Filing Document

**Accession Number:** 0001353098
**File Stem:** 0001353098-25-000007
**Filing Date:** 2025-8
**Character Count:** 24084
**Document Hash:** ee0ff7ee08359096cf06e2f1cb8f4801
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001353098-25-000007.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001353098-25-000007

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**EFFECTIVENESS DATE**: 20250827

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cutler Capital Management, LLC
- **CENTRAL INDEX KEY:** 0001353098

**ORGANIZATION NAME:**
- **EIN:** 043469688
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-11849
- **FILM NUMBER:** 251265140

**BUSINESS ADDRESS:**
- **STREET 1:** 306 MAIN STREET
- **CITY:** WORCESTER
- **STATE:** MA
- **ZIP:** 01608
- **BUSINESS PHONE:** 508-757-4455

**MAIL ADDRESS:**
- **STREET 1:** 306 MAIN STREET
- **CITY:** WORCESTER
- **STATE:** MA
- **ZIP:** 01608

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001353098

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** Cutler Capital Management, LLC

**Address:** 306 MAIN STREET, WORCESTER, MA 01608

**Telephone number:** 5087574455

**Name of agent for service:** Armand Duncan

**Agent Address:** 306 Main st, Worcester, MA 01608

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-11849

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** 5493000GNAB3HWOFNP35

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 0

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                     | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                                                                                                                                                                  | VOTE CATEGORY                |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   | SHARES VOTED FOR OR AGAINST MANAGEMENT   | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|:---|:---|:---|
| Agnico Eagle Mines Limited         | 008474108 | 4/25/2025      | Consideration of and, if deemed advisable, the passing of a non-binding, advisory resolution accepting the Company's approach to executive compensation.                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| American International Group, Inc. | 026874784 | 5/14/2025      | Advisory vote to approve named executive officer compensation                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| American International Group, Inc. | 026874784 | 5/14/2025      | Advisory vote on the frequency of future executive compensation votes.                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Alerus Financial Corporation       | 01446U103 | 5/8/2025       | Approve, on a non-binding advisory basis, the compensation paid to our named executive officers.                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Alerus Financial Corporation       | 01446U103 | 5/8/2025       | Approve, on a non-binding advisory basis, how often we will hold future advisory votes on the compensation paid to our named executive officers.                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Apple Hospitality Reit, Inc.       | 03784Y200 | 5/19/2025      | Approval on an advisory basis of executive compensation paid by the Company.                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Banc of California, Inc.           | 05990K106 | 5/7/2025       | Approval, on an advisory and non-binding basis, of the compensation paid to the Company's named executive officers, as disclosed in the Company's proxy statement for the Annual Meeting (Say-on-Pay)                                                                                             | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Banc of California, Inc.           | 05990K106 | 5/7/2025       | Approval, on an advisory and non-binding basis, of the frequency of future Say-on-Pay votes.                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Bunge Global SA                    | H11356104 | 5/15/2025      | Advisory vote to approve named executive officer compensation under U.S. securities law requirements.                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Bunge Global SA                    | H11356104 | 5/15/2025      | Approval of the Compensation of the board and executive management teaam under Swiss Law; advisory vote on the Swiss compensation report; approval of the maximum aggregate compensation of the board for the period between the 2025 Annual General Meeting and the 2026 Annual General Meeting. | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Bunge Global SA                    | H11356104 | 5/15/2025      | Approval of the maximum aggregate compensation of the executive management team for the fiscal year 2026.                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Bunge Global SA                    | H11356104 | 5/15/2025      | Advisory vote on the Swiss Compensation Report                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Blue Ridge Bankshares, Inc.        | 095825105 | 5/21/2025      | To approve, in an advisory (non-binding) vote, the Company's named executive officer compensation disclosed in this Proxy Statement;                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Blue Ridge Bankshares, Inc.        | 095825105 | 5/21/2025      | To approve, in an advisory (non-binding) vote, whether to hold the vote of the approval of the Company's named executive officer compensation every one, two, or three years.                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| CNH Industrial NV                  | N20944109 | 5/12/2025      | Approval of executive compensation ("Say on Pay") (advisory voting item).                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| CSB Bancorp, Inc.                  | 12628R107 | 4/23/2025      | To approve, in a non-binding advisory vote, the compensation of CSB's named executive officers as disclosed in the Proxy Statement for the 2025 Annual Meeting of Shareholders.                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| CSB Bancorp, Inc.                  | 12628R107 | 4/23/2025      | To recommend, by non-binding vote, the frequency of future shareholder advisory votes on the compensatio of CSB's named executive officers will occur every, 1,2, or 3 years.                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| CTO Realty Growth, Inc.            | 22948Q101 | 6/18/2025      | Hold an advisory vote to approve executive compensation.                                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Community West Bancshares          | 203937107 | 5/21/2025      | To adopt a non-binding advisory resolution approving executive compensation.                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Eagle Bancorp Montana, Inc.        | 26942G100 | 4/24/2025      | Advisory vote on named executive officer compensation as disclosed in the proxy statement.                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Eagle Bancorp Montana, Inc.        | 26942G100 | 4/24/2025      | Advisory vote on the frequency of the advisory vote on executive compensation.                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Energizer Holdings, Inc.           | 29272W109 | 1/24/2025      | Advisory approval of the Company's executive compensation.                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| First Business Bank                | 319390100 | 4/25/2025      | To approve, in a non-binding shareholder advisory vote, the compensation of the Company's named executive officers.                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| First Business Bank                | 319390100 | 4/25/2025      | To approve, in a non-binding shareholder advisory vote, the frequency with which shareholders will vote on the compensatio of the Company's named executive officers.                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| First Community Corporation        | 319835104 | 5/21/2025      | To approve the compensation of our named executive officers as disclosed in the proxy statement (this is a non-binding, advisory vote) ("Say-on-Pay").                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| First Community Corporation        | 319835104 | 5/21/2025      | To approve a non-binding resolution to determine whether shareholders should have a Say-on-Pay every one, two, or three years ("Say-on-Frequency").                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Financial Institutions, Inc.       | 317585404 | 5/28/2025      | Adivsory vote to approve the compensation of our named executive officers.                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| F Bank Corp.                       | 30237P106 | 5/17/2025      | Approval, in an advisory (non-binding) vote, of the named executive officers' executive compensation disclosed in the proxy statement.                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| F Bank Corp.                       | 30237P106 | 5/17/2025      | Approva, in an advisory (non-binding) vote of the frequency of the advisory (non-binding) vote on executive compensation.                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| First National Corporation - VA    | 32106V107 | 5/14/2025      | To consider and approve a non-binding advisory resolution approving the compensation of our named executive officers.                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| First National Corporation - VA    | 32106V107 | 5/14/2025      | To consider and approve a non-binding advisory resolution on the frequency of future votes on the Company's executive compensation program.                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Global Medical Reit Inc.           | 37954A204 | 5/14/2025      | Advisory vote to approve the compensation of the Company's named executive officers as described in the Proxy Statement.                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| HCI Group Inc                      | 40416E103 | 6/10/2025      | To approve, on an advisory basis, the compensation of our named executive officers                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| HCI Group Inc                      | 40416E103 | 6/10/2025      | To approve, on an advisory basis, the frequency of votes on executive compensation                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Metlife, Inc.                      | 59156R108 | 6/14/2025      | Advisory (non-binding) vote to approve the compensation paid to MetLife, Inc's named executive officers                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Mainstreet Bancshares, Inc.        | 56064Y100 | 5/21/2025      | To vote, on an advisory, non-binding basis, to approve the compensation of our named executive officers.                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |          38600 |                0 | FOR         | 38600                                    | FOR                         |  |
| Mainstreet Bancshares, Inc.        | 56064Y100 | 5/21/2025      | To vote, on an advisory, non-binding basis, on the frenquency of future shareholder advisory voting on the compensation of named executive officers. Such non-binding shareholder vote will occur every 1, every 2, or every 3 years.                                                             | SECTION 14A SAY-ON-PAY VOTES |          38600 |                0 | FOR         | 38600                                    | FOR                         |  |
| Merck  Co., Inc.                   | 58933Y105 | 5/27/2025      | Non-binding advisory vote to approve the compensation of our named executive officers.                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Pfizer, Inc.                       | 717081103 | 4/24/2025      | 2025 advisory approval of executive compensation                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| SB Financial Group, Inc.           | 78408D105 | 4/16/2025      | To approve a non-binding advisory resolution to approve the compensation of SB Financial's named executive officers.                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| SB Financial Group, Inc.           | 78408D105 | 4/16/2025      | To conduct an advisory vote on the frequency of future advisory votes on the compensation of SB Financial's named executive officers.                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| AT Inc.                            | 00206R102 | 5/15/2025      | Advisory approval of executive compensation.                                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Timberland Bancorp, Inc.           | 887098101 | 1/28/2025      | Advisory (non-binding) approval of the compensation of our named executive officers as disclosed in the proxy statement.                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Timberland Bancorp, Inc.           | 887098101 | 1/28/2025      | Advisory (non-binding) vote on whether an advisory vote on executive compensation should be held every one, two, or three years.                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| VICI Properties Inc.               | 925652109 | 4/29/2025      | To approve (on a non-binding, advisory basis) the compensation of our named executive officers.                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Viatris Inc.                       | 92556V106 | 12/6/2024      | Approval of, on a non-binding advisory basis, the 2023 compensation of the named executive officers of the Company.                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Weyerhaeuser Company               | 962166104 | 5/9/2025       | Approval, on an advisory basis, of the compensation of the named executive officers.                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |

## N-PX: Signature Block

**Reporting Person:** Cutler Capital Management, LLC

**By (Signature):** Geoffrey Dancey

**By (Printed Signature):** Geoffrey Dancey

**By (Title):** Chief Compliance Officer

**Date:** 08/27/2025