Reaves Utility Income Fund Announces Annual Meeting of Shareholders on April 2, 2024
Ticker: UTG · Form: DEF 14A · Filed: Feb 16, 2024 · CIK: 1263994
| Field | Detail |
|---|---|
| Company | Reaves Utility Income Fund (UTG) |
| Form Type | DEF 14A |
| Filed Date | Feb 16, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $10,001, $50,000, $100,001, $500,000, $120,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: Proxy Statement, Annual Meeting, Shareholder Vote, Trustee Election, Reaves Utility Income Fund
Related Tickers: UTG
TL;DR
<b>Reaves Utility Income Fund will hold its Annual Meeting of Shareholders on April 2, 2024, to elect one Trustee.</b>
AI Summary
REAVES UTILITY INCOME FUND (UTG) filed a Proxy Statement (DEF 14A) with the SEC on February 16, 2024. The Reaves Utility Income Fund will hold its Annual Meeting of Shareholders on April 2, 2024. The meeting will be conducted via virtual conference call at 10:00 a.m. Mountain Time. Shareholders will vote on the election of one (1) Trustee. The record date for determining shareholders eligible to vote was January 30, 2024. Shareholders are encouraged to vote via the internet or by returning a signed proxy card.
Why It Matters
For investors and stakeholders tracking REAVES UTILITY INCOME FUND, this filing contains several important signals. Shareholders need to cast their votes to ensure proper representation and decision-making for the fund's governance. The election of a Trustee is a critical governance function that impacts the fund's strategic direction and oversight.
Risk Assessment
Risk Level: low — REAVES UTILITY INCOME FUND shows low risk based on this filing. The filing is a routine proxy statement for an annual meeting, with no immediate financial or operational risks indicated.
Analyst Insight
Shareholders should review the proxy materials and cast their votes for the Trustee election by the meeting date.
Key Numbers
- 1 — Trustee to be elected (Proposal 1 at the Annual Meeting)
- 2024-04-02 — Annual Meeting Date (Date of the Annual Meeting of Shareholders)
- 2024-01-30 — Record Date (Date for determining shareholders entitled to vote)
Key Players & Entities
- REAVES UTILITY INCOME FUND (company) — Registrant
- April 2, 2024 (date) — Annual Meeting date
- January 30, 2024 (date) — Record date
- Joseph Rhame III (person) — President
FAQ
When did REAVES UTILITY INCOME FUND file this DEF 14A?
REAVES UTILITY INCOME FUND filed this Proxy Statement (DEF 14A) with the SEC on February 16, 2024.
What is a DEF 14A filing?
A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by REAVES UTILITY INCOME FUND (UTG).
Where can I read the original DEF 14A filing from REAVES UTILITY INCOME FUND?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by REAVES UTILITY INCOME FUND.
What are the key takeaways from REAVES UTILITY INCOME FUND's DEF 14A?
REAVES UTILITY INCOME FUND filed this DEF 14A on February 16, 2024. Key takeaways: The Reaves Utility Income Fund will hold its Annual Meeting of Shareholders on April 2, 2024.. The meeting will be conducted via virtual conference call at 10:00 a.m. Mountain Time.. Shareholders will vote on the election of one (1) Trustee..
Is REAVES UTILITY INCOME FUND a risky investment based on this filing?
Based on this DEF 14A, REAVES UTILITY INCOME FUND presents a relatively low-risk profile. The filing is a routine proxy statement for an annual meeting, with no immediate financial or operational risks indicated.
What should investors do after reading REAVES UTILITY INCOME FUND's DEF 14A?
Shareholders should review the proxy materials and cast their votes for the Trustee election by the meeting date. The overall sentiment from this filing is neutral.
How does REAVES UTILITY INCOME FUND compare to its industry peers?
Reaves Utility Income Fund is a closed-end management investment company. Its primary investment objective is to seek a high level of current income and capital appreciation.
Are there regulatory concerns for REAVES UTILITY INCOME FUND?
The filing is a Definitive Proxy Statement (DEF 14A) filed under Section 14(a) of the Securities Exchange Act of 1934, requiring specific disclosures for shareholder meetings.
Risk Factors
- Compliance with SEC Regulations [low — regulatory]: The fund must comply with all SEC regulations regarding proxy solicitations and annual meetings.
Industry Context
Reaves Utility Income Fund is a closed-end management investment company. Its primary investment objective is to seek a high level of current income and capital appreciation.
Regulatory Implications
The filing is a Definitive Proxy Statement (DEF 14A) filed under Section 14(a) of the Securities Exchange Act of 1934, requiring specific disclosures for shareholder meetings.
What Investors Should Do
- Review the proxy statement for details on the Trustee nominee.
- Vote your shares by the deadline, either online or by returning the proxy card.
- Attend the virtual meeting on April 2, 2024, if possible.
Key Dates
- 2024-04-02: Annual Meeting of Shareholders — Election of one Trustee and other business.
- 2024-01-30: Record Date — Determines shareholders eligible to vote at the meeting.
- 2024-02-16: Filing Date — Date the Definitive Proxy Statement was filed with the SEC.
Year-Over-Year Comparison
This is a DEF 14A filing for the annual meeting, indicating a routine governance process rather than a change from a previous filing type.
Filing Stats: 4,605 words · 18 min read · ~15 pages · Grade level 11.2 · Accepted 2024-02-16 16:05:24
Key Financial Figures
- $10,001 — -Interested Trustees Mary K. Anstine $10,001-$50,000 Jeremy W. Deems None Micha
- $50,000 — ted Trustees Mary K. Anstine $10,001-$50,000 Jeremy W. Deems None Michael F. Ho
- $100,001 — d $10,001-$50,000 E. Wayne Nordberg $100,001-$500,000 JoEllen L. Legg None 1.
- $500,000 — 1-$50,000 E. Wayne Nordberg $100,001-$500,000 JoEllen L. Legg None 1. This info
- $120,000 — ct interest, the value of which exceeds $120,000, in the Adviser or any of its affiliate
Filing Documents
- utg_def14a-040224.htm (DEF 14A) — 100KB
- image001.jpg (GRAPHIC) — 1KB
- proxycard_img001.jpg (GRAPHIC) — 401KB
- proxycard_img002.jpg (GRAPHIC) — 279KB
- 0001999371-24-002473.txt ( ) — 1041KB
From the Filing
DEF 14A 1 utg_def14a-040224.htm DEFINITIVE PROXY STATEMENT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to § 240.14a-12 REAVES UTILITY INCOME FUND (Name of Registrant as Specified in its Charter) (Name of Person(s) Filing Proxy Statement if other than the Registrant) Payment of Filing Fee (Check appropriate box): No fee required Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. (1) Title of Each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined): (4) Proposed maximum aggregate value of transaction: REAVES UTILITY INCOME FUND 1700 Broadway, Suite 1850 Denver, CO 80290 (800) 644-5571 NOTICE OF ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON APRIL 2, 2024 To the Shareholders of Reaves Utility Income Fund: Notice is hereby given that the Annual Meeting of Shareholders (the “Meeting”) of the Reaves Utility Income Fund (the “Fund”) will be held via virtual format by conference call, on April 2, 2024 at 10:00 a.m. (Mountain Time), for the following purposes: 1. To elect one (1) Trustee of the Fund, to be elected by the holders of the Fund’s Shares (“Shares”) (PROPOSAL 1); and 2. To consider and vote upon such other matters, including adjournments, as may properly come before the Meeting or any adjournments thereof. These items are discussed in greater detail in the attached Proxy The close of business on January 30, 2024 has been fixed as the record date for the determination of shareholders entitled to notice of and to vote at the Meeting and any adjournments thereof. YOUR VOTE IS IMPORTANT REGARDLESS OF THE SIZE OF YOUR HOLDINGS IN THE FUND. WHETHER OR NOT YOU PLAN TO ATTEND THE MEETING, WE ASK THAT YOU PLEASE EITHER VOTE VIA THE INTERNET OR COMPLETE AND SIGN THE ENCLOSED PROXY CARD AND RETURN IT PROMPTLY IN THE ENCLOSED ENVELOPE, WHICH NEEDS NO POSTAGE IF MAILED IN THE UNITED STATES. By Order of the Board of Trustees Joseph Rhame III President February 16, 2024 REAVES UTILITY INCOME FUND ANNUAL MEETING OF SHAREHOLDERS APRIL 2, 2024 PROXY STATEMENT This Proxy Statement is furnished in connection with the solicitation of proxies by the Board of Trustees (the “Board”) of the Reaves Utility Income Fund (the “Fund”) for use at the Annual Meeting of Shareholders of the Fund to be held via virtual format by conference call on April 2, 2024 at 10:00 a.m. (Mountain Time) and at any adjournments thereof (the “Meeting”). Shareholders who plan to attend the Meeting virtually and vote should call 800-644-5571 or visit the Fund’s website, at www.utilityincomefund.com , to obtain directions. To participate in the Meeting, you will need to send an email to shareholdermeetings@computershare.com no later than March 29, 2024 at 5:00 p.m. EST, which includes your full name and address. You will then receive an email back from Computershare Fund Services (“Computershare”) containing the dial–in information and instructions for participating in the Meeting. If you hold your shares through an intermediary, such as a bank or broker, you must register in advance to participate in the Meeting. To register, you must submit proof of your proxy power (legal proxy) reflecting your Fund holdings, along with your name and email address to Computershare. You may forward an email from your intermediary or attach an image of your legal proxy to shareholdermeetings@computershare.com. Requests for registration must be received no later than 5:00 p.m. EST, on March 29, 2024. You will then receive an email back from Computershare containing the conference call dial-in information and instructions for participating in the Meeting. Other Methods of Proxy Solicitation In addition to the solicitation of proxies by mail, officers of the Fund and employees of Paralel Technologies LLC (“PTL”) (the Fund’s administrator) or other representatives of the Fund also may solicit proxies by telephone or Internet. The expenses incurred in connection with preparing the Proxy Statement and its enclosures will be paid by PTL. PTL will also reimburse brokerage firms and others for their expenses in forwarding solicitation materials to the beneficial owners o