# EDGAR Filing Document

**Accession Number:** 0001056581
**File Stem:** 0001214659-25-013169
**Filing Date:** 2025-9
**Character Count:** 60590
**Document Hash:** 6d9b27e3ab8d5271e7421a7e06cec5c1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001214659-25-013169.hdr.sgml**: 20250902

**ACCESSION NUMBER**: 0001214659-25-013169

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250902

**EFFECTIVENESS DATE**: 20250902

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GENDELL JEFFREY L
- **CENTRAL INDEX KEY:** 0001056581

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-06950
- **FILM NUMBER:** 251284357

**MAIL ADDRESS:**
- **STREET 1:** 1 SOUND SHORE DRIVE
- **STREET 2:** SUITE 304
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830-7251

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

## N-PX: Filer Information

**Filer CIK:** 0001056581

**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:** GENDELL JEFFREY L

**Address:** 1 SOUND SHORE DRIVE, GREENWICH, CT 06830-7251

**Telephone number:** 203-769-2000

**Name of agent for service:** Jeffrey L. Gendell

**Agent Address:** 1 Sound Shore Drive, Geenwich, CT 06830

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

**SEC File Number:** 028-06950

**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:** 3

**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   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| AVADEL PHARMACEUTICALS PLC              | G29687103 | 07/30/2024     | To approve, on a non-binding advisory basis, the compensation of the named executive officers of the Company.                                                                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |        3641885 |                0 | Against     |                                  3641885 | AGAINST                     |  |
| AVADEL PHARMACEUTICALS PLC              | G29687103 | 07/30/2024     | To approve, on a non-binding advisory basis, the compensation of the named executive officers of the Company.                                                                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |        2098258 |                0 | Against     |                                  2098258 | AGAINST                     |  |
| ENERSYS                                 | 29275Y102 | 08/01/2024     | An advisory vote to approve the compensation of EnerSys' named executive officers.                                                                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |          98226 |                0 | For         |                                    98226 | FOR                         |  |
| SKYLINE CHAMPION CORPORATION            | 830830105 | 08/01/2024     | To consider a non-binding advisory vote on fiscal 2024 compensation paid to Skyline Champion's Named Executive Officers.                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |          75000 |                0 | For         |                                    75000 | FOR                         |  |
| NEXTRACKER INC.                         | 65290E101 | 08/19/2024     | The approval, on an advisory basis, of the compensation of our named executive officers.                                                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |          10000 |                0 | For         |                                    10000 | FOR                         |  |
| AMERISERV FINANCIAL, INC.               | 03074A102 | 08/20/2024     | An advirsory vote to approve the compensation of the named executive officers of the Company.                                                                                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |        1480767 |                0 | Against     |                                  1480767 | AGAINST                     |  |
| FRIEDMAN INDUSTRIES, INCORPORATED       | 358435105 | 09/18/2024     | Proposal 2 -- To approve the following non-binding, advisory resolution: "Resolved, that the shareholders approve the compensation of the Company's Named Executive Officers as disclosed in the Company's Proxy Statement dated July 26, 2024 pursuant to the disclosure rules of the U.S. Securities  Exchange Commission (which disclosure includes the Summary Compensation Table and related discussion). | SECTION 14A SAY-ON-PAY VOTES |         453129 |                0 | For         |                                   453129 | FOR                         |  |
| AMBAC FINANCIAL GROUP, INC.             | 023139884 | 10/16/2024     | To approve, on an advisory (non-binding) basis, the compensation that will or may be paid or provided by Ambac to its named executive officers in connection with the Sale.                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         292076 |                0 | For         |                                   292076 | FOR                         |  |
| AMBAC FINANCIAL GROUP, INC.             | 023139884 | 10/16/2024     | To approve, on an advisory (non-binding) basis, the compensation that will or may be paid or provided by Ambac to its named executive officers in connection with the Sale.                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         135562 |                0 | For         |                                   135562 | FOR                         |  |
| MATRIX SERVICE COMPANY                  | 576853105 | 11/05/2024     | Advisory vote on named executive officer compensation.                                                                                                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |         382118 |                0 | For         |                                   382118 | FOR                         |  |
| MATRIX SERVICE COMPANY                  | 576853105 | 11/05/2024     | Advisory vote on named executive officer compensation.                                                                                                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |         215000 |                0 | For         |                                   215000 | FOR                         |  |
| COHERENT CORP.                          | 19247G107 | 11/14/2024     | Non-binding advisory vote to approve compensation paid to named executive officers in fiscal year 2024.                                                                                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |          44915 |                0 | For         |                                    44915 | FOR                         |  |
| COHERENT CORP.                          | 19247G107 | 11/14/2024     | Non-binding advisory vote to approve compensation paid to named executive officers in fiscal year 2024.                                                                                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |          30000 |                0 | For         |                                    30000 | FOR                         |  |
| WESTERN DIGITAL CORPORATION             | 958102105 | 11/20/2024     | Approval on an advisory basis of the named executive officer compensation disclosed in the Proxy Statement.                                                                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         245250 |                0 | For         |                                   245250 | FOR                         |  |
| WESTERN DIGITAL CORPORATION             | 958102105 | 11/20/2024     | Approval on an advisory basis of the named executive officer compensation disclosed in the Proxy Statement.                                                                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |          17355 |                0 | For         |                                    17355 | FOR                         |  |
| IF BANCORP INC                          | 44951J105 | 11/25/2024     | An advisory, non-binding resolution to approve the Company's executive compensation as described in the proxy statement.                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |         319181 |                0 | Against     |                                   319181 | AGAINST                     |  |
| IES HOLDINGS, INC.                      | 44951W106 | 02/20/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |        4107859 |                0 | For         |                                  4107859 | FOR                         |  |
| IES HOLDINGS, INC.                      | 44951W106 | 02/20/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |         995465 |                0 | For         |                                   995465 | FOR                         |  |
| IES HOLDINGS, INC.                      | 44951W106 | 02/20/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |        5614644 |                0 | For         |                                  5614644 | FOR                         |  |
| SCHLUMBERGER LIMITED                    | 806857108 | 04/02/2025     | Advisory approval of our executive compensation.                                                                                                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |         337693 |                0 | Against     |                                   337693 | AGAINST                     |  |
| SCHLUMBERGER LIMITED                    | 806857108 | 04/02/2025     | Advisory approval of our executive compensation.                                                                                                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |         185000 |                0 | Against     |                                   185000 | AGAINST                     |  |
| CIVISTA BANCSHARES, INC.                | 178867107 | 04/15/2025     | To consider and vote upon a non-binding advisory resolution to approve the compensation of the Corporation's named executive officers as disclosed in the accompanying proxy statement.                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |          10000 |                0 | Against     |                                    10000 | AGAINST                     |  |
| CIVISTA BANCSHARES, INC.                | 178867107 | 04/15/2025     | To consider and vote upon a non-binding advisory resolution to approve the compensation of the Corporation's named executive officers as disclosed in the accompanying proxy statement.                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |          10000 |                0 | 1 Year      |                                    10000 | FOR                         |  |
| LIBERTY ENERGY INC.                     | 53115L104 | 04/15/2025     | Advisory vote to approve the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         440029 |                0 | For         |                                   440029 | FOR                         |  |
| LIBERTY ENERGY INC.                     | 53115L104 | 04/15/2025     | Advisory vote to determine the frequency of future advisory votes to approve the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |         440029 |                0 | 1 Year      |                                   440029 | FOR                         |  |
| LIBERTY ENERGY INC.                     | 53115L104 | 04/15/2025     | Advisory vote to approve the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         100000 |                0 | For         |                                   100000 | FOR                         |  |
| LIBERTY ENERGY INC.                     | 53115L104 | 04/15/2025     | Advisory vote to determine the frequency of future advisory votes to approve the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |         100000 |                0 | 1 Year      |                                   100000 | FOR                         |  |
| EQT Corporation                         | 26884L109 | 04/16/2025     | Approval of a non-binding resolution to approve the 2024 compensation of EQT Corporation's named executive officers (say-on-pay).                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |         273907 |                0 | For         |                                   273907 | FOR                         |  |
| EQT Corporation                         | 26884L109 | 04/16/2025     | Approval of a non-binding resolution to approve the 2024 compensation of EQT Corporation's named executive officers (say-on-pay).                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |         152500 |                0 | For         |                                   152500 | FOR                         |  |
| SB FINANCIAL GROUP, INC.                | 78408D105 | 04/16/2025     | To approve a non-binding advisory resolution to approve the compensation of SB Financial's named executive officers.                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |          48823 |                0 | Against     |                                    48823 | AGAINST                     |  |
| SB FINANCIAL GROUP, INC.                | 78408D105 | 04/16/2025     | 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 |          48823 |                0 | 1 Year      |                                    48823 | FOR                         |  |
| PEOPLES FINANCIAL CORPORATION           | 71103B102 | 04/23/2025     | Advisory (non-binding) proposal to approve compensation of the named executive officers as set forth under the heading "Compensation of Directors and Executive Officers."                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |         455539 |                0 | Against     |                                   455539 | AGAINST                     |  |
| PEOPLES FINANCIAL CORPORATION           | 71103B102 | 04/23/2025     | Advisory (non-binding) resolution that, with regard to frequency of a non-binding shareholder vote to approve the compensation of the named executive officers of the Company, such non-binding shareholder vote will occur every 1, every 2 or every 3 years.                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |         455539 |                0 | 1 Year      |                                   455539 | AGAINST                     |  |
| FIRST BANK                              | 31931U102 | 04/24/2025     | To approve an advisory resolution approving the 2024 compensation of our named executive officers.                                                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |          70404 |                0 | For         |                                    70404 | FOR                         |  |
| PEOPLES BANCORP INC.                    | 709789101 | 04/24/2025     | Approval of non-binding advisory resolution to approve the compensation of Peoples' named executive officers as disclosed in the Proxy Statement for the 2025 Annual Meeting of Shareholders.                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |          10589 |                0 | For         |                                    10589 | FOR                         |  |
| REPUBLIC BANCORP, INC.                  | 760281204 | 04/24/2025     | The non-binding advisory vote on the compensation of our Named Exexcutive Officers.                                                                                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |         146709 |                0 | For         |                                   146709 | FOR                         |  |
| CORE NATURAL RESOURCES, INC             | 218937100 | 04/29/2025     | Approval, on an Advisory Basis, of the Compensation Paid to Core Natural Resources, Inc.'s Named Executive Officers in 2024.                                                                                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |          18195 |                0 | For         |                                    18195 | FOR                         |  |
| FIRST US BANCSHARES, INC                | 33744V103 | 05/01/2025     | The advisory approval of the Company's executive compensation.                                                                                                                                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |         362440 |                0 | For         |                                   362440 | FOR                         |  |
| PEOPLES BANCORP OF NORTH CAROLINA, INC. | 710577107 | 05/01/2025     | Approve the compensation of the Company's named executive officers (advisory vote).                                                                                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |         217763 |                0 | For         |                                   217763 | FOR                         |  |
| PEOPLES BANCORP OF NORTH CAROLINA, INC. | 710577107 | 05/01/2025     | Recommend the frequency in which shareholders approve the compensation of the Company's named executive officers (advisory vote).                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |         217763 |                0 | 1 Year      |                                   217763 | AGAINST                     |  |
| THE ODP CORPORATION                     | 88337F105 | 05/01/2025     | To approve, in a non-binding, advisory vote, The ODP Corporation's executive compensation.                                                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |         213075 |                0 | Against     |                                   213075 | AGAINST                     |  |
| THE ODP CORPORATION                     | 88337F105 | 05/01/2025     | To approve, in a non-binding, advisory vote, The ODP Corporation's executive compensation.                                                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |         180211 |                0 | Against     |                                   180211 | AGAINST                     |  |
| NINE ENERGY SERVICE, INC                | 65441V101 | 05/02/2025     | Approval, on an advisory basis, of the compensation of our named executive officers.                                                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |        2282710 |                0 | For         |                                  2282710 | FOR                         |  |
| NINE ENERGY SERVICE, INC                | 65441V101 | 05/02/2025     | Approval, on an advisory basis, of the compensation of our named executive officers.                                                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |        1901334 |                0 | For         |                                  1901334 | FOR                         |  |
| SELECT WATER SOLUTIONS, INC.            | 81617J301 | 05/02/2025     | To conduct a non-binding, advisory vote to approve Named Executive Officer compensation.                                                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |         833217 |                0 | For         |                                   833217 | FOR                         |  |
| FIRST UNITED CORPORATION                | 33741H107 | 05/07/2025     | To approve, by a non-binding advisory vote, the compensation paid to the Corporation's named executive officers for 2024.                                                                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |         178352 |                0 | For         |                                   178352 | FOR                         |  |
| KLX ENERGY SERVICES HOLDINGS, INC.      | 48253L205 | 05/07/2025     | To approve, on an advisory, non-binding basis, the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |        1445327 |                0 | Against     |                                  1445327 | AGAINST                     |  |
| KLX ENERGY SERVICES HOLDINGS, INC.      | 48253L205 | 05/07/2025     | To approve, on an advisory, non-binding basis, the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |         227892 |                0 | Against     |                                   227892 | AGAINST                     |  |
| ALPHA METALLURGICAL RESOURCES, INC.     | 020764106 | 05/07/2025     | Advisory approval of the Company's executive compensation as reported in the proxy statement for the annual meeting.                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         200658 |                0 | For         |                                   200658 | FOR                         |  |
| ALPHA METALLURGICAL RESOURCES, INC.     | 020764106 | 05/07/2025     | Advisory approval of the Company's executive compensation as reported in the proxy statement for the annual meeting.                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |           9527 |                0 | For         |                                     9527 | FOR                         |  |
| ALPHA METALLURGICAL RESOURCES, INC.     | 020764106 | 05/07/2025     | An advisory vote on the frequency of future advisory votes on the Company's executive compensations.                                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         200658 |                0 | 1 Year      |                                   200658 | FOR                         |  |
| ALPHA METALLURGICAL RESOURCES, INC.     | 020764106 | 05/07/2025     | An advisory vote on the frequency of future advisory votes on the Company's executive compensations.                                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |           9527 |                0 | 1 Year      |                                     9527 | FOR                         |  |
| PEABODY ENERGY CORPORATION              | 704551100 | 05/08/2025     | Approve, on an advisory basis, our named executive officers' compensation.                                                                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |         985432 |                0 | Against     |                                   985432 | AGAINST                     |  |
| PEABODY ENERGY CORPORATION              | 704551100 | 05/08/2025     | Approve, on an advisory basis, our named executive officers' compensation.                                                                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |         388919 |                0 | Against     |                                   388919 | AGAINST                     |  |
| ALERUS FINANCIAL CORPORATION            | 01446U103 | 05/08/2025     | Approve, on a non-binding advisory basis, the compensation paid to our named executive officers.                                                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |         399794 |                0 | For         |                                   399794 | FOR                         |  |
| ALERUS FINANCIAL CORPORATION            | 01446U103 | 05/08/2025     | 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 |         399794 |                0 | 1 Year      |                                   399794 | FOR                         |  |
| SECURITY FEDERAL CORPORATION            | 813903101 | 05/08/2025     | Advisory approval of the compensation of Security Federal Corporation's named executive officers.                                                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |           1816 |                0 | Against     |                                     1816 | AGAINST                     |  |
| SECURITY FEDERAL CORPORATION            | 813903101 | 05/08/2025     | Advisory approval of the compensation of Security Federal Corporation's named executive officers.                                                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |         150509 |                0 | Against     |                                   150509 | AGAINST                     |  |
| INNOSPEC INC.                           | 45768S105 | 05/09/2025     | Advisory approval of the Company's executive compensation.                                                                                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |          77247 |                0 | Against     |                                    77247 | AGAINST                     |  |
| OIL STATES INTERNATIONAL, INC.          | 678026105 | 05/13/2025     | To approve, on an advisory basis, the company's executive compensation.                                                                                                                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |        1426609 |                0 | Against     |                                  1426609 | AGAINST                     |  |
| OIL STATES INTERNATIONAL, INC.          | 678026105 | 05/13/2025     | To approve, on an advisory basis, the company's executive compensation.                                                                                                                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |         250000 |                0 | Against     |                                   250000 | AGAINST                     |  |
| LSB INDUSTRIES, INC.                    | 502160104 | 05/15/2025     | Proposal to approve, on an advisory basis, the named executive officer compensation.                                                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         946937 |                0 | For         |                                   946937 | FOR                         |  |
| LSB INDUSTRIES, INC.                    | 502160104 | 05/15/2025     | Proposal to approve, on an advisory basis, the named executive officer compensation.                                                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |        1757200 |                0 | For         |                                  1757200 | FOR                         |  |
| PATRICK INDUSTRIES, INC                 | 703343103 | 05/15/2025     | To approve, in an advisory and non-binding vote, the compensation of the Company's named executive officers for fiscal year 2024.                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |          79023 |                0 | For         |                                    79023 | FOR                         |  |
| PATRICK INDUSTRIES, INC                 | 703343103 | 05/15/2025     | To recommend, in an advisory and non-binding vote, the frequency of shareholder votes on executive compensation (a "Say-on-Frequency" vote).                                                                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |          79023 |                0 | 1 Year      |                                    79023 | FOR                         |  |
| SEADRILL LIMITED                        | G7997W102 | 05/14/2025     | To conduct an advisory vote to approve the compensation of our named executive officers for 2024.                                                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |          99568 |                0 | For         |                                    99568 | FOR                         |  |
| SEADRILL LIMITED                        | G7997W102 | 05/14/2025     | To conduct an advisory vote to approve the compensation of our named executive officers for 2024.                                                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |          33780 |                0 | For         |                                    33780 | FOR                         |  |
| SEADRILL LIMITED                        | G7997W102 | 05/14/2025     | To conduct an advisory vote to approve the frequency of future advisory votes to approve executive compensation.                                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |          99568 |                0 | 1 Year      |                                    99568 | FOR                         |  |
| SEADRILL LIMITED                        | G7997W102 | 05/14/2025     | To conduct an advisory vote to approve the frequency of future advisory votes to approve executive compensation.                                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |          33780 |                0 | 1 Year      |                                    33780 | FOR                         |  |
| SUNCOKE ENERGY, INC.                    | 86722A103 | 05/15/2025     | To hold a non-binding advisory vote to approve the compensation of the Company's named executive officers ("Say-on-Pay").                                                                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |         272591 |                0 | For         |                                   272591 | FOR                         |  |
| BLUELINX HOLDINGS INC.                  | 09624H208 | 05/15/2025     | Proposal to approve the non-binding, advisory resolution regarding the executive compensation described in the proxy statement.                                                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |         418187 |                0 | For         |                                   418187 | FOR                         |  |
| BLUELINX HOLDINGS INC.                  | 09624H208 | 05/15/2025     | Proposal to approve the non-binding, advisory resolution regarding the executive compensation described in the proxy statement.                                                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |          64640 |                0 | For         |                                    64640 | FOR                         |  |
| CORE MOLDING TECHNOLOGIES, INC.         | 218683100 | 05/15/2025     | A non-binding advisory vote on the compensation of the named executive officers.                                                                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |          61266 |                0 | For         |                                    61266 | FOR                         |  |
| ORION GROUP HOLDINGS, INC.              | 68628V308 | 05/15/2025     | A non-binding advisory proposal to approve the compensation of our named executive officers as disclosed in the proxy statement (the "say-on-pay" vote).                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |         584922 |                0 | For         |                                   584922 | FOR                         |  |
| BLUE RIDGE BANKSHARES, INC              | 095825105 | 05/21/2025     | To approve, in an advisory (non-binding) vote, the Company's named executive officer compensation disclosed in the Proxy Statement.                                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |         280973 |                0 | For         |                                   280973 | FOR                         |  |
| BLUE RIDGE BANKSHARES, INC              | 095825105 | 05/21/2025     | 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 |         280973 |                0 | 1 Year      |                                   280973 | AGAINST                     |  |
| CAMDEN NATIONAL CORPORATION             | 133034108 | 05/20/2025     | To approve, by non-binding advisory vote, the compensation of the Company's named executive officers ("Say on Pay").                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         121107 |                0 | For         |                                   121107 | FOR                         |  |
| NOV INC.                                | 62955J103 | 05/20/2025     | To approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |         118676 |                0 | For         |                                   118676 | FOR                         |  |
| NOV INC.                                | 62955J103 | 05/20/2025     | To approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |         100499 |                0 | For         |                                   100499 | FOR                         |  |
| CORE LABORATORIES INC.                  | 21867A105 | 05/21/2025     | To approve, on an advisory basis, the compensation philosophy, policies and procedures described in the section entitled Compensation Discussion and Analysis ("CD"), and the compensation of the Company's named executive officers as disclosed pursuant to the U.S. Securities and Exchange Commission's compensation disclosure rules, including the compensation tables.                                  | SECTION 14A SAY-ON-PAY VOTES |         249528 |                0 | For         |                                   249528 | FOR                         |  |
| CORE LABORATORIES INC.                  | 21867A105 | 05/21/2025     | To approve, on an advisory basis, the compensation philosophy, policies and procedures described in the section entitled Compensation Discussion and Analysis ("CD"), and the compensation of the Company's named executive officers as disclosed pursuant to the U.S. Securities and Exchange Commission's compensation disclosure rules, including the compensation tables.                                  | SECTION 14A SAY-ON-PAY VOTES |         207468 |                0 | For         |                                   207468 | FOR                         |  |
| AMBAC FINANCIAL GROUP, INC.             | 023139884 | 05/28/2025     | To approve, on a non-binding advisory basis, the compensation for our named executive officers.                                                                                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |         435055 |                0 | Against     |                                   435055 | AGAINST                     |  |
| AMBAC FINANCIAL GROUP, INC.             | 023139884 | 05/28/2025     | To approve, on a non-binding advisory basis, the compensation for our named executive officers.                                                                                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |         167231 |                0 | Against     |                                   167231 | AGAINST                     |  |
| AMBAC FINANCIAL GROUP, INC.             | 023139884 | 05/28/2025     | Advisory vote on whether the compensation paid to our named executive officers should be submitted to stockholders for an advisory vote Every Year, Every 2 Years, or Every 3 Years.                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         435055 |                0 | 1 Year      |                                   435055 | FOR                         |  |
| AMBAC FINANCIAL GROUP, INC.             | 023139884 | 05/28/2025     | Advisory vote on whether the compensation paid to our named executive officers should be submitted to stockholders for an advisory vote Every Year, Every 2 Years, or Every 3 Years.                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         167231 |                0 | 1 Year      |                                   167231 | FOR                         |  |
| SHORE BANCSHARES, INC.                  | 825107105 | 05/29/2025     | Adopt a non-binding advisory resolution approving the compensation of the named executive officers.                                                                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |         283410 |                0 | Against     |                                   283410 | AGAINST                     |  |
| NABORS INDUSTRIES LTD.                  | G6359F137 | 06/03/2025     | Approval, on a non-binding, advisory basis, of the compensation paid by the Company to its named executive officers.                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         225741 |                0 | Against     |                                   225741 | AGAINST                     |  |
| NABORS INDUSTRIES LTD.                  | G6359F137 | 06/03/2025     | Approval, on a non-binding, advisory basis, of the compensation paid by the Company to its named executive officers.                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |          98922 |                0 | Against     |                                    98922 | AGAINST                     |  |
| TETRA TECHNOLOGIES, INC.                | 88162F105 | 06/12/2025     | Advisory vote to approve executive compensation.                                                                                                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |        3181103 |                0 | Against     |                                  3181103 | AGAINST                     |  |
| TETRA TECHNOLOGIES, INC.                | 88162F105 | 06/12/2025     | Advisory vote to approve executive compensation.                                                                                                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |         577839 |                0 | Against     |                                   577839 | AGAINST                     |  |
| CITIZENS COMMUNITY BANCORP, INC.        | 174903104 | 06/17/2025     | To approve a non-binding advisory proposal on executive compensation.                                                                                                                                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |         249005 |                0 | For         |                                   249005 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** GENDELL JEFFREY L

**By (Signature):** Jeffrey L. Gendell

**By (Printed Signature):** Jeffrey L. Gendell

**By (Title):** Filer

**Date:** 09/02/2025