# EDGAR Filing Document

**Accession Number:** 0001050417
**File Stem:** 0000919574-25-005336
**Filing Date:** 2025-8
**Character Count:** 16958
**Document Hash:** de44e256e9b43deb11cee8d225f88ceb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919574-25-005336.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0000919574-25-005336

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**EFFECTIVENESS DATE**: 20250829

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CONTRARIAN CAPITAL MANAGEMENT, L.L.C.
- **CENTRAL INDEX KEY:** 0001050417

**ORGANIZATION NAME:**
- **EIN:** 931183419
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-10718
- **FILM NUMBER:** 251277795

**BUSINESS ADDRESS:**
- **STREET 1:** 411 WEST PUTNAM AVENUE
- **STREET 2:** SUITE 425
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830
- **BUSINESS PHONE:** 2038628201

**MAIL ADDRESS:**
- **STREET 1:** 411 WEST PUTNAM AVENUE
- **STREET 2:** SUITE 425
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CONTRARIAN CAPITAL MANAGEMENT LLC
- **DATE OF NAME CHANGE:** 19971126

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

## N-PX: Filer Information

**Filer CIK:** 0001050417

**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:** CONTRARIAN CAPITAL MANAGEMENT, L.L.C.

**Address:** 411 West Putnam Avenue, Greenwich, CT 06830

**Telephone number:** 203-862-8200

**Name of agent for service:** —

**Agent Address:** —, —, — —

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

**SEC File Number:** 028-10718

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** —

**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   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| ADVANTAGE SOLUTIONS INC.     | 00791N102 | 05/28/2025     | 3. Advisory approval of executive compensation                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |        1451140 |                0 | For         |                                  1451140 | FOR                         |  |
| ARCH RESOURCES, INC.         | 03940R107 | 01/09/2025     | 2. Advisory approval of compensation related to merger                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |         165343 |                0 | For         |                                   165343 | FOR                         |  |
| ARDAGH METAL PACKAGING S A   | L02235106 | 05/27/2025     | Approve aggregate amount of directors' remuneration for year ending Dec 31, 2025                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         150000 |                0 | For         |                                   150000 | FOR                         |  |
| BRIGHTVIEW HLDS INC          | 10948C107 | 03/03/2025     | Advisory vote to approve compensation of named executive officers                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         237621 |                0 | For         |                                   237621 | FOR                         |  |
| BRIGHTVIEW HLDS INC          | 10948C107 | 03/03/2025     | Advisory vote on frequency of say-on-pay                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |         237621 |                0 | 2yr         |                                   237621 | AGAINST                     |  |
| CENTURY CASINOS INC          | 156492100 | 06/23/2025     | Advisory (non-binding) resolution regarding compensation of named executive officers                                                                                                | SECTION 14A SAY-ON-PAY VOTES |         889144 |                0 | For         |                                   889144 | FOR                         |  |
| CENTURY CASINOS INC          | 156492100 | 06/23/2025     | Advisory (non-binding) vote on frequency of say-on-pay                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |         889144 |                0 | 1yr         |                                   889144 | FOR                         |  |
| CLEAR CHANNEL OUTDOOR HLDS   | 18453H106 | 05/29/2025     | Advisory (non-binding) resolution on executive compensation                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |        1452614 |                0 | For         |                                  1452614 | FOR                         |  |
| CLEVELAND-CLIFFS INC NEW     | 185899101 | 05/15/2025     | Advisory approval of named executive officers' compensation                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |         115000 |                0 | For         |                                   115000 | FOR                         |  |
| CORE NATURAL RESOURCES INC   | 218937100 | 04/29/2025     | Approval, on an advisory basis, of the compensation paid to named executive officers in 2024                                                                                        | SECTION 14A SAY-ON-PAY VOTES |         219243 |                0 | For         |                                   219243 | FOR                         |  |
| GREEN THUMB INDUSTRIES INC.  | 39342L108 | 06/11/2025     | 3. Advisory approval of executive compensation                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |         100000 |                0 | For         |                                   100000 | FOR                         |  |
| GREEN THUMB INDUSTRIES INC.  | 39342L108 | 06/11/2025     | 5. Amendment of 2018 Share and Incentive Plan (increase shares)                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |         100000 |                0 | For         |                                   100000 | FOR                         |  |
| HSBC HLDGS PLC               | 404280406 | 05/02/2025     | Approve Directors Remuneration Report                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |        1265656 |                0 | For         |                                  1265656 | FOR                         |  |
| HSBC HLDGS PLC               | 404280406 | 05/02/2025     | Approve Directors Remuneration Policy                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |        1265656 |                0 | For         |                                  1265656 | FOR                         |  |
| HSBC HLDGS PLC               | 404280406 | 05/02/2025     | Amend rules of the HSBC Share Plan 2011                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |        1265656 |                0 | For         |                                  1265656 | FOR                         |  |
| MACYS INC                    | 55616P104 | 05/16/2025     | Advisory vote to approve named executive officer compensation                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |         140210 |                0 | For         |                                   140210 | FOR                         |  |
| MASTERBRAND INC.             | 57638P104 | 06/05/2025     | 2. Advisory resolution to approve executive compensation                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |          28000 |                0 | For         |                                    28000 | FOR                         |  |
| MATTEL INC                   | 577081102 | 05/28/2025     | Advisory vote to approve named executive officer compensation (Say-on-Pay)                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |          21000 |                0 | For         |                                    21000 | FOR                         |  |
| NATIONAL CINEMEDIA INC       | 635309206 | 05/01/2025     | Approve, on an advisory basis, our executive compensation                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         143668 |                0 | For         |                                   143668 | FOR                         |  |
| NCR ALTEOS CORPORATION       | 63001N106 | 05/21/2025     | Advisory vote to approve compensation of the named executive officers (Say on Pay)                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |          29000 |                0 | For         |                                    29000 | FOR                         |  |
| NOBLE CORP PLC               | G65431127 | 05/08/2025     | Approval by advisory vote of executive compensation                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |          60000 |                0 | For         |                                    60000 | FOR                         |  |
| NOBLE CORP PLC               | G65431127 | 05/08/2025     | Approval by advisory vote of the Directors' Remuneration Report                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |          60000 |                0 | For         |                                    60000 | FOR                         |  |
| PETROLEO BRASILEIRO SA PETRO | 71654V408 | 04/16/2025     | A23. Setting the compensation for the administrators, the members of the Fiscal Council, and the members of the Statutory Advisory Committees to the Petrobras' Board of Directors. | SECTION 14A SAY-ON-PAY VOTES |        3906345 |                0 | For         |                                  3906345 | FOR                         |  |
| PG CORP                      | 69331C108 | 05/22/2025     | Advisory Vote to Approve Executive Compensation                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |         150000 |                0 | For         |                                   150000 | FOR                         |  |
| PG CORP                      | 69331C108 | 05/22/2025     | Approval of the 2025 Employee Stock Purchase Plan                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         150000 |                0 | For         |                                   150000 | FOR                         |  |
| PITNEY BOWES INC             | 724479100 | 05/13/2025     | Non-binding Advisory Vote to Approve Executive Compensation                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |          19432 |                0 | For         |                                    19432 | FOR                         |  |
| PITNEY BOWES INC             | 724479100 | 05/13/2025     | Approval of the Amended Pitney Bowes Inc. 2024 Stock Plan                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |          19432 |                0 | For         |                                    19432 | FOR                         |  |
| SABRE CORP                   | 78573M104 | 04/22/2025     | 3. To approve our 2025 Omnibus Incentive Compensation Plan                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |         705000 |                0 | For         |                                   705000 | FOR                         |  |
| SABRE CORP                   | 78573M104 | 04/22/2025     | 4. To hold an advisory vote on the compensation of our named executive officers.                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         705000 |                0 | For         |                                   705000 | FOR                         |  |
| TERNIUM SA                   | 880890108 | 05/06/2025     | Authorize compensation to the Board for 2025                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |         648465 |                0 | For         |                                   648465 | FOR                         |  |
| UNITED PARKS  RESORTS INC    | 81282V100 | 06/13/2025     | 3. Approval, in a non-binding advisory vote, of the compensation paid to the named executive officers                                                                               | SECTION 14A SAY-ON-PAY VOTES |          22000 |                0 | For         |                                    22000 | FOR                         |  |
| UNITED PARKS  RESORTS INC    | 81282V100 | 06/13/2025     | 4. Approval of the United Parks  Resorts Inc., 2025 Omnibus Incentive Plan                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |          22000 |                0 | For         |                                    22000 | FOR                         |  |
| UNITED PARKS  RESORTS INC    | 81282V100 | 06/13/2025     | 5. Approval of the director compensation limit set forth in the United Parks  Resorts Inc. 2025 Omnibus Incentive Plan                                                              | SECTION 14A SAY-ON-PAY VOTES |          22000 |                0 | For         |                                    22000 | FOR                         |  |
| VALARIS LTD                  | G9460G101 | 06/12/2025     | Advisory vote to approve compensation of named executive officers                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |          11094 |                0 | For         |                                    11094 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** CONTRARIAN CAPITAL MANAGEMENT, L.L.C.

**By (Signature):** Jon R. Bauer

**By (Printed Signature):** Jon R. Bauer

**By (Title):** Managing Member

**Date:** 08/29/2025