Sound Point Meridian (SPMC) Proxy filing summary

Executive summary

• Annual meeting set for Dec. 16, 2026; record date Nov. 6, 2026. Shareholders will vote on conversion to a Delaware statutory trust and two director elections.

• Conversion would preserve management and investment strategy, keep NYSE listing and ticker symbols, and exchange each existing share for one share of the corresponding beneficial-interest class.

• If approved, conversion is expected in Q1 2027; the Board unanimously recommends FOR. The Board cites operating flexibility and franchise-tax savings, while identifying dilution, takeover and leverage risks.

• Conversion is not anticipated to be a taxable event for the fund or shareholders; appraisal rights would not be available.

Voting matters and shareholder proposals

• Proposal 1 requires approval by holders of a majority of outstanding capital stock; director nominees are elected by plurality of votes cast.

• Preferred holders voting separately will elect Ujjaval Desai; common and preferred holders voting together will elect Lana Lewin-Ross, each for a term ending at the 2029 annual meeting if elected.

• The Board recommends FOR the conversion and unanimously recommends FOR both director nominees; uninstructed proxies are voted FOR the applicable proposals.

• Proposals for inclusion in the 2027 proxy materials must be received by July 28, 2027; other proposals are generally due July 28–Aug. 27, 2027, assuming the meeting is within 30 days of its prior-year anniversary.

Board of directors and corporate governance

• The Board has five directors, three independent; it is divided into three classes, with one class standing for election each year.

• Three standing committees—Audit, Governance and Nominating, and Valuation Oversight—are each composed of all independent directors.

• The Board held five meetings in FY ended Mar. 31, 2026; all directors attended at least 75% of Board and applicable committee meetings.

• Independent directors receive $125,000 annually plus reasonable meeting expenses; interested directors affiliated with the Adviser serve without compensation from the fund.