HIGHLAND GLOBAL ALLOCATION FUND 8-K

What Happened
Highland Global Allocation Fund (HGLB) filed an 8‑K reporting governance changes following the passing of Trustee Bryan A. Ward. Effective January 16, 2026, the Board accepted the resignation of Dorri McWhorter from her prior trustee class and reappointed her to serve as a Class I Trustee; she has resumed all prior committee roles, including chair of the audit committee. On January 27, 2026, the Board approved and filed a Second Amended and Restated Declaration of Trust and Third Amended and Restated Bylaws that incorporate prior amendments and clarify provisions on forum selection, shareholder proposals and nominations (including information requirements), and shareholder meetings; the filing also notes a change in the Fund’s fiscal year.

Key Details

• Dorri McWhorter reappointed as Class I Trustee effective January 16, 2026; resumed chair of the audit committee.
• Trustee compensation will follow the Fund’s standard non-employee trustee arrangements (see Fund proxy on Schedule 14A filed May 7, 2025).
• No arrangement or understanding led to Ms. McWhorter’s appointment and no reportable transactions under Item 404(a) of Regulation S-K.
• Board approved Second Amended and Restated Declaration of Trust and Third Amended and Restated Bylaws effective January 27, 2026; those documents are filed as exhibits to the 8‑K.

Why It Matters
These are governance and procedural updates rather than changes to investment strategy or financial results. Investors should note the audit committee chair role is confirmed (important for oversight and financial reporting) and that updated governing documents change how shareholder proposals, nominations and meetings are handled and may affect shareholder rights and filing/meeting procedures. The amended trust and bylaws are filed with the SEC, so investors can review the exact language for any changes to voting, forum selection, or fiscal year timing.