Tortoise Energy Infrastructure Corp. Announces Board and Compensation Changes

TL;DR

TPY board shakeup and pay plan updates filed 11/13.

AI Summary

Tortoise Energy Infrastructure Corp. (NYSE: TPY) announced on November 13, 2024, changes in its board of directors and officer compensation arrangements. Specifically, the company reported the departure of a director and the election of a new director, along with updates to executive compensation plans.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — The filing primarily concerns routine corporate governance and compensation matters, not significant financial distress or operational changes.

Key Players & Entities

• TORTOISE ENERGY INFRASTRUCTURE CORP (company) — Filer
• TORTOISE SUSTAINABLE & SOCIAL IMPACT TERM FUND (company) — Related Filer/Former Company
• TORTOISE PIPELINE & ENERGY FUND, INC. (company) — Related Filer
• 20241113 (date) — Filing Date
• 20241111 (date) — Period of Report

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share TYG New York Stock Exchange

Filing Documents

• ef20038545_8k.htm (8-K) — 49KB
• 0001140361-24-046288.txt ( ) — 54KB

01

Item 8.01. Other Events TYG, Tortoise Power and Energy Infrastructure Fund, Inc. (" TPZ "), Tortoise Midstream Energy Fund, Inc. (" NTG "), Tortoise Pipeline & Energy Fund, Inc. (" TTP "), and TEAF (each a " Company " and collectively, the " Companies ") previously elected to be subject to the Maryland Control Share Acquisition Act (the " MCSAA "). On January 5, 2024, the United States District Court for the Southern District of New York entered judgment in a lawsuit filed against five of the Companies and a number of other, unrelated closed-end funds challenging the board resolutions of those Companies and the other fund defendants to be subject to the MCSAA. TPZ was not a named defendant and not a party to that litigation; the other five Companies were defendants and parties to that litigation. In its judgment, the district court declared that the referenced resolutions of each of the named fund defendants violated Section 18(i) of the Investment Company Act of 1940, as amended, and ordered that those resolutions be rescinded. The United States Court of Appeals for the Second Circuit affirmed the judgment of the district court in all respects. In light of this judicial decision, the Board of Directors of TYG, NTG, TTP and TPZ, respectively, have determined that those funds will not enforce their election to be subject to the MCSAA at their currently scheduled special shareholder meetings.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Tortoise Energy Infrastructure Corporation Date: November 12, 2024 By: /s/ Matthew G.P. Sallee Matthew G.P. Sallee Chief Executive Officer Tortoise Power & Energy Infrastructure Fund, Inc. By: /s/ Matthew G.P. Sallee Matthew G.P. Sallee Chief Executive Officer Tortoise Midstream Energy Fund, Inc. By: /s/ Matthew G.P. Sallee Matthew G.P. Sallee Chief Executive Officer Tortoise Pipeline & Energy Fund, Inc. By: /s/ Matthew G.P. Sallee Matthew G.P. Sallee Chief Executive Officer Tortoise Sustainable & Social Impact Term Fund By: /s/ Matthew G.P. Sallee Matthew G.P. Sallee Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR