• Shareholder Trevor Montano plans to vote against Class II trustee nominees Keith M. Schappert, Andrea N. Mullins at Sept. 25 meeting.
• Montano cites their holdover status since June 2025 despite failing to win sufficient votes at the 2025 annual meeting.
• Criticism targets board entrenchment provisions, including a classified board, removal only for cause, supermajority thresholds, limited bylaw rights.
• May 2026 preferred share issuance to a single investor cited as shifting two board seats to preferred holders under the 1940 Act.
• Montano points to persistent discount to net asset value since Feb. 27, 2020 as a key performance concern.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Angel Oak Financial Strategies Income Term Trust published the original content used to generate this news brief via PR Newswire (Ref. ID: PH40448) on September 03, 2026, and is solely responsible for the information contained therein.