Well....all of the current trustees oversaw a business that was convicted of being a ponzi scheme (or ponzi-like, if you prefer). So they don't exactly have clean hands.
Like I said before, let the shareholders vote. If Dondero's a crook and UDF shareholders want to vote him in, then let them. What's it say about the current trustees that they think Dondero is a crook and that they're also afraid he'd beat them?
Also, NexPoint only owns ~5% of the stock...it's not like they have a controlling position.
Finally, how many shares of UDF IV do the current trustees own? Based on the last proxy filed with the SEC (the 2023 proxy doesn't contain share ownership information):
Phillip Marshall - 2,000 shares
Heath Malone - 4,347 shares
Steve Finkle - 20,000 shares
James Kenney - not listed in last proxy...I assume 0, unless he bought some after it was deregistered.
Lawrence Jones - not listed in last proxy. I assume 0, unless he bought some after it was deregistered.
So the trustees own a total of 26,347 shares. That's less than I own. And they're telling me who I can & can't vote for? Why do they care so much....maybe because they want to keep the gravy train rolling.
