Angel Oak Financial Strategies Income Term Trust (FINS) Lowers Trustee-Removal Threshold

What Happened
On September 25, 2026, Angel Oak Financial Strategies Income Term Trust (the Fund) filed an 8-K reporting that shareholders at the Fund’s Annual Meeting approved an amendment to Article IV, Section III of the Declaration of Trust. The amendment lowers the vote threshold required to remove a Trustee “for Cause” from 75% to 66.67% and likewise lowers the threshold for the Trustees to remove a Trustee for Cause from 75% to 66.67%. A copy of the amendment is attached as Exhibit 3.1; a press release dated September 28, 2026 is included as Exhibit 99.2.

Key Details

• Amendment approved by shareholders at the Annual Meeting on September 25, 2026.
• Removal threshold changed from 75.00% to 66.67% for removal of a Trustee “for Cause” (applies to both shareholders removing a Trustee and Trustees removing a Trustee).
• Amendment amends Article IV, Section III of the Fund’s Declaration of Trust.
• Exhibits filed: 3.1 (Amendment to Declaration of Trust) and 99.2 (Press Release dated Sept. 28, 2026).

Why It Matters
This is a governance change that makes it easier for shareholders and the board to remove a Trustee for Cause, which can increase accountability of the board. The filing does not disclose any direct financial impact or other changes to management; investors should view this as a structural change to trustee removal rules rather than a change to investment policy or operations.