Business Context and Reporting Period
This Form 8-K Current Report was filed by HMS Income Fund, Inc. on September 9, 2019. The filing documents the results of the Company's annual meeting of stockholders held on that date and the declaration of distributions for the fourth quarter of 2019.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, or debt metrics. The primary financial disclosure relates to the declaration of daily distributions for the period from October 1, 2019, to December 31, 2019, set at $0.00191781 per share of Common Stock per day.
Material Changes and Voting Results
At the annual meeting, stockholders elected five directors and ratified the selection of Grant Thornton LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2019. The voting results for the director elections were as follows:
- Sherri W. Schugart: 23,969,879 votes For; 876,000 Authority Withheld.
- Nicholas T. Meserve: 23,902,904 votes For; 942,975 Authority Withheld.
- Peter Shaper: 23,940,660 votes For; 905,219 Authority Withheld.
- John O. Niemann, Jr.: 23,936,321 votes For; 909,558 Authority Withheld.
- Gregory R. Geib: 23,948,451 votes For; 897,428 Authority Withheld.
There were 15,316,252 broker non-votes cast for each director election, which did not affect the outcome. For the ratification of Grant Thornton LLP, 39,178,542 shares voted in favor, 242,632 against, and 740,957 abstained.
Guidance, Outlook, and Risks
The Company declared distributions for the fourth quarter of 2019, payable on the first business day following the completion of each month. The filing includes standard forward-looking statement disclaimers, noting that actual results may differ due to economic, competitive, and market conditions. Specific risks are referenced in the Company's Annual Report on Form 10-K for the year ended December 31, 2018, and subsequent Form 10-Q filings.
Investor Verification Checklist
- Verify the daily distribution rate of $0.00191781 per share for the period October 1, 2019, through December 31, 2019.
- Confirm the payment schedule for distributions, which occurs on the first business day following the end of each month.
- Review the Company's Form 10-K (2018) and Form 10-Q filings for detailed risk factors and financial performance data not included in this 8-K.
- Note that broker non-votes were significant (15,316,252 shares) but had no impact on the director election results.