I note there are many questions on calls and mailings that folks are getting from Priority Income Fund. I have gotten the same mailings (just yesterday in fact).
Whether you hold the common OR preferred shares you have 1 vote per share. Unlike most preferreds shares the holders of the PRIF preferreds DO HAVE A VOTE.
Below is from the most recent prospectus.
“Each holder of the Series K Cumulative Preferred Stock is entitled to one vote on each matter submitted to a vote of our stockholders, and the holders of all of our outstanding preferred stock and common stock generally vote together as a single class. The holders of shares of our outstanding preferred stock are entitled to elect two of our directors and, if dividends on any outstanding shares of our preferred stock are in arrears by two years or more, to elect a majority of our directors”
I believe this is what these communications are about–they need a quorum to be able to validate the meeting and vote results. Without a quorum they are unable to transact business.
I have not responded to the mailings–although I would be more than happy to execute a ‘proxy vote’ as I do for all notices I get for the proxy vote website.