# EDGAR Filing Document

**Accession Number:** 0001867831
**File Stem:** 0001214659-25-012974
**Filing Date:** 2025-8
**Character Count:** 21136
**Document Hash:** 257f4814560c708724f6583bed6fb1e8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001214659-25-012974.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001214659-25-012974

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**EFFECTIVENESS DATE**: 20250828

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** North Reef Capital Management LP
- **CENTRAL INDEX KEY:** 0001867831

**ORGANIZATION NAME:**
- **EIN:** 852858118
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-21832
- **FILM NUMBER:** 251271650

**BUSINESS ADDRESS:**
- **STREET 1:** 1833 SOUTH COAST HIGHWAY, SUITE 210
- **CITY:** LAGUNA BEACH
- **STATE:** CA
- **ZIP:** 92651
- **BUSINESS PHONE:** 949-482-2121

**MAIL ADDRESS:**
- **STREET 1:** 1833 SOUTH COAST HIGHWAY, SUITE 210
- **CITY:** LAGUNA BEACH
- **STATE:** CA
- **ZIP:** 92651

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

## N-PX: Filer Information

**Filer CIK:** 0001867831

**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:** North Reef Capital Management LP

**Address:** 1833 SOUTH COAST HIGHWAY, SUITE 210, LAGUNA BEACH, CA 92651

**Telephone number:** 949-482-2121

**Name of agent for service:** —

**Agent Address:** —, —, — —

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

**SEC File Number:** 028-21832

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** 549300C1ITJNK5N9N287

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

Institutional Manager.

- [ ] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [x] 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   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| Hilltop Holdings Inc.                   | 432748101 | 07/25/2024     | Non-binding advisory vote to approve executive compensation.                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |           645526 | ABSTAIN     |                                        0 | NONE                        |  |
| Bill Holdings, Inc.                     | 090043100 | 12/05/2024     | To approve, on an advisory basis, the compensation of our Named Executive Officers (Say-on-Pay).                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |              0 |            21341 | ABSTAIN     |                                        0 | NONE                        |  |
| I3 Verticals Inc.                       | 46571Y107 | 02/25/2025     | To consider and act upon a non-binding, advisory vote to approve the compensation of the Company's named executive officers as disclosed in the Proxy Statement.                                  | SECTION 14A SAY-ON-PAY VOTES |              0 |            14779 | ABSTAIN     |                                        0 | NONE                        |  |
| Pinnacle Financial Partners, Inc.       | 72346Q104 | 04/15/2025     | To approve, on a non-binding, advisory basis, the Company's named executive officer's compensation as disclosed in the proxy statement for the Annual Meeting.                                    | SECTION 14A SAY-ON-PAY VOTES |              0 |           784688 | ABSTAIN     |                                        0 | NONE                        |  |
| Prosperity Bancshares, Inc.             | 743606105 | 04/15/2025     | Advisory approval of the compensation of the Company's named executive officers ("Say-On-Pay").                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |              0 |            27578 | ABSTAIN     |                                        0 | NONE                        |  |
| Texas Capital Bancshares, Inc.          | 88224Q107 | 04/15/2025     | To approve, on an advisory basis, the 2024 compensation of the Company's named executive officers as described in the Proxy Statement                                                             | SECTION 14A SAY-ON-PAY VOTES |         517078 |           517078 | FOR         |                                   517078 | FOR                         |  |
| Central Pacific Financial Corp.         | 154760409 | 04/24/2025     | To approve, on a non-binding advisory basis, the compensation of the company's named executive officers ("Say-On-Pay").                                                                           | SECTION 14A SAY-ON-PAY VOTES |              0 |           189080 | ABSTAIN     |                                        0 | NONE                        |  |
| Global Payments Inc.                    | 37940X102 | 04/24/2025     | Approval, on an advisory basis, of the compensation of the company's named executive officers for 2024.                                                                                           | SECTION 14A SAY-ON-PAY VOTES |              0 |           542642 | ABSTAIN     |                                        0 | NONE                        |  |
| Synovus Financial Corp.                 | 87161C501 | 04/24/2025     | To approve, on an advisory basis, the compensation of Synovus' named executive officers as determined by the Compensation and Human Capital Committee.                                            | SECTION 14A SAY-ON-PAY VOTES |              0 |           677891 | ABSTAIN     |                                        0 | NONE                        |  |
| Commerce Bancshares, Inc.               | 200525103 | 04/25/2025     | Advisory approval of the Company's executive compensation ("Say on Pay").                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |              0 |             7263 | ABSTAIN     |                                        0 | NONE                        |  |
| Comerica Incorporated                   | 200340107 | 04/29/2025     | Approval of a Non-Binding, Advisory Proposal Approving Executive Compensation                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |         699234 |           699234 | AGAINST     |                                   699234 | AGAINST                     |  |
| First Horizon Corporation               | 320517105 | 04/29/2025     | Approval of an advisory resolution to approve executive compensation.                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |              0 |          5267840 | ABSTAIN     |                                        0 | NONE                        |  |
| Truist Financial Corporation            | 89832Q109 | 04/29/2025     | Advisory vote to approve Truist's executive compensation program.                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |              0 |           165731 | ABSTAIN     |                                        0 | NONE                        |  |
| Wells Fargo  Company                    | 949746101 | 04/29/2025     | Advisory vote to approve executive compensation (Say on Pay).                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |              0 |          1229001 | ABSTAIN     |                                        0 | NONE                        |  |
| Atlantic Union Bankshares Corporation   | 04911A107 | 05/06/2025     | To approve the compensation of our named executive officers (an advisory, non-binding "Say on Pay" resolution)                                                                                    | SECTION 14A SAY-ON-PAY VOTES |              0 |            85570 | ABSTAIN     |                                        0 | NONE                        |  |
| CME Group Inc.                          | 12572Q105 | 05/08/2025     | Advisory vote on the compensation of our named executive officers.                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |              0 |            63200 | ABSTAIN     |                                        0 | NONE                        |  |
| Acadian Asset Management Inc.           | 10948W103 | 05/13/2025     | Advisory vote to approve executive compensation.                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |              0 |           411166 | ABSTAIN     |                                        0 | NONE                        |  |
| Alkami Technology Inc                   | 01644J108 | 05/14/2025     | To approve, on a non-binding advisory basis, the compensation of our named executive officers.                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |              0 |            40759 | ABSTAIN     |                                        0 | NONE                        |  |
| Eagle Bancorp, Inc.                     | 268948106 | 05/15/2025     | To approve a non-binding, advisory resolution approving the compensation of our named executive officers.                                                                                         | SECTION 14A SAY-ON-PAY VOTES |              0 |           652754 | ABSTAIN     |                                        0 | NONE                        |  |
| Eastern Bankshares, Inc.                | 27627N105 | 05/19/2025     | To approve, in an advisory vote, the compensation paid to the Company's named executive officers.                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |              0 |            11215 | ABSTAIN     |                                        0 | NONE                        |  |
| Pacific Premier Bancorp, Inc.           | 69478X105 | 05/19/2025     | To approve, on a non-binding advisory basis, the compensation of the Company's named executive officers.                                                                                          | SECTION 14A SAY-ON-PAY VOTES |              0 |           355669 | ABSTAIN     |                                        0 | NONE                        |  |
| Seacoast Banking Corporation of Florida | 811707801 | 05/19/2025     | Advisory (Non-binding) Vote on Compensation of Named Executive Officers                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |              0 |          4049168 | ABSTAIN     |                                        0 | NONE                        |  |
| Bank of Marin Bancorp                   | 063425102 | 05/21/2025     | To approve, by non-binding vote, executive compensation                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |              0 |           351446 | ABSTAIN     |                                        0 | NONE                        |  |
| Guaranty Bancshares, Inc.               | 400764106 | 05/21/2025     | Non-binding advisory vote on the compensation of the Company's named executive officers.                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |              0 |            35000 | ABSTAIN     |                                        0 | NONE                        |  |
| Stellar Bancorp, Inc.                   | 858927106 | 05/21/2025     | To conduct an advisory, non-binding vote regarding the compensation paid to our named executive officers as disclosed in the proxy statement ("Say-On-Pay").                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |               16 | ABSTAIN     |                                        0 | NONE                        |  |
| Affiliated Managers Group, Inc.         | 008252108 | 05/22/2025     | To approve, by a non-binding advisory vote, the compensation of the Company's named executive officers.                                                                                           | SECTION 14A SAY-ON-PAY VOTES |              0 |            23829 | ABSTAIN     |                                        0 | NONE                        |  |
| Piper Sandler Companies                 | 724078100 | 05/22/2025     | An advisory (non-binding) vote to approve the compensation of the officers disclosed in the enclosed proxy statement, or say-on-pay vote.                                                         | SECTION 14A SAY-ON-PAY VOTES |              0 |            24009 | ABSTAIN     |                                        0 | NONE                        |  |
| The Charles Schwab Corporation          | 808513105 | 05/22/2025     | Advisory approval of named executive officer compensation                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |              0 |           123229 | ABSTAIN     |                                        0 | NONE                        |  |
| First Busey Corporation                 | 319383204 | 05/29/2025     | To approve, in a non-binding, advisory vote, the compensation of our named executive officers, as described in the accompanying proxy statement, which is referred to as a "say-on-pay" proposal. | SECTION 14A SAY-ON-PAY VOTES |              0 |           146905 | ABSTAIN     |                                        0 | NONE                        |  |
| First Foundation Inc.                   | 32026V104 | 05/29/2025     | To approve, on a non-binding advisory basis, the compensation of the Company's named executive officers for the year ended December 31, 2024.                                                     | SECTION 14A SAY-ON-PAY VOTES |        4017527 |          4017527 | FOR         |                                  4017527 | FOR                         |  |
| ACI Worldwide, Inc.                     | 004498101 | 06/03/2025     | To conduct an advisory vote to approve named executive officer compensation.                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |           534340 | ABSTAIN     |                                        0 | NONE                        |  |
| Flywire Corporation                     | 302492103 | 06/03/2025     | Approve, on a non-binding, advisory basis, the compensation of Flywire Corporation's named executive officers                                                                                     | SECTION 14A SAY-ON-PAY VOTES |              0 |           650847 | ABSTAIN     |                                        0 | NONE                        |  |
| Q2 Holdings Inc                         | 74736L109 | 06/03/2025     | Advisory vote to approve the compensation of our named executive officers.                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |              0 |             2182 | ABSTAIN     |                                        0 | NONE                        |  |
| First Western Financial, Inc.           | 33751L105 | 06/04/2025     | Advisory, non-binding vote to approve the compensation paid to the Company's named executive officers.                                                                                            | SECTION 14A SAY-ON-PAY VOTES |              0 |           308987 | ABSTAIN     |                                        0 | NONE                        |  |
| Marketaxess Holdings Inc.               | 57060D108 | 06/04/2025     | To approve, on an advisory basis, the compensation of the Company's named executive officers as disclosed in the 2025 Proxy Statement.                                                            | SECTION 14A SAY-ON-PAY VOTES |              0 |           205263 | ABSTAIN     |                                        0 | NONE                        |  |
| Ameris Bancorp                          | 03076K108 | 06/05/2025     | Advisory vote on the compensation of the Company's named executive officers.                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |          1932827 | ABSTAIN     |                                        0 | NONE                        |  |
| NCR Voyix Corporation                   | 62886E108 | 06/06/2025     | To approve, on a non-binding and advisory basis, the compensation of the named executive officers as more particularly described in the proxy materials                                           | SECTION 14A SAY-ON-PAY VOTES |          63440 |            63440 | FOR         |                                    63440 | FOR                         |  |
| Marqeta, Inc.                           | 57142B104 | 06/12/2025     | To approve, on a non-binding advisory basis, the compensation of our named executive officers.                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |              0 |          2481537 | ABSTAIN     |                                        0 | NONE                        |  |
| Repay Holdings Corporation              | 76029L100 | 06/12/2025     | To approve, on a non-binding advisory basis, the compensation of our named executive officers.                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |              0 |           197504 | ABSTAIN     |                                        0 | NONE                        |  |
| Priority Technology Holdings, Inc.      | 74275G107 | 06/13/2025     | To approve, on a non-binding advisory basis, the compensation of our named executive officers.                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |              0 |           225365 | ABSTAIN     |                                        0 | NONE                        |  |
| Shift4 Payments, Inc.                   | 82452J109 | 06/13/2025     | Approval, on an advisory (non-binding) basis, of the compensation of the Company's named executive officers.                                                                                      | SECTION 14A SAY-ON-PAY VOTES |              0 |              111 | ABSTAIN     |                                        0 | NONE                        |  |
| Avidxchange Holdings, Inc.              | 05368X102 | 06/26/2025     | A proposal to approve, on a non-binding advisory basis, the compensation of the Company's named executive officers.                                                                               | SECTION 14A SAY-ON-PAY VOTES |              0 |          4215084 | ABSTAIN     |                                        0 | NONE                        |  |

## N-PX: Signature Block

**Reporting Person:** North Reef Capital Management LP

**By (Signature):** Daniel Locasto

**By (Printed Signature):** Daniel Locasto

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

**Date:** 08/25/2025