Gladstone Investment Corporation has replaced Walter H. Wilkinson Jr. as Lead Independent Director following his immediate resignation from the Board. The move raises questions about the stability of the company's governance structure during a period of transition for its leadership team.
Wilkinson notified the company on October 22, 2026, that he was stepping down from the Board of Directors. His departure was effective immediately upon notification. According to the Form 8-K filing submitted to the Securities and Exchange Commission, Wilkinson had served as a director since 2014 and held the position of Lead Independent Director since 2024.
The Board elected George "Chip" Stelljes, III to succeed Wilkinson in the role of Lead Independent Director. Stelljes' appointment is effective October 26, 2026. This change occurs just four days after Wilkinson's resignation notice, indicating a rapid succession plan was in place for the critical governance role.
In addition to the leadership change, the Board fixed the number of directors at seven, effective October 26, 2026. This adjustment follows Wilkinson's departure and sets the current size of the governing body for Gladstone Investment Corporation.
The company filed the report on October 26, 2026, with Taylor Ritchie, Chief Financial Officer and Treasurer, signing on behalf of the registrant. Gladstone Investment Corporation is headquartered at 1521 Westbranch Drive, Suite 100, in McLean, Virginia. The company's common stock trades on The Nasdaq Stock Market LLC under the symbol GAIN.
The filing also lists several debt instruments registered under Section 12(b) of the Securities Exchange Act of 1934. These include 4.875% Notes due 2028 trading as GAINZ, 7.875% Notes due 2030 trading as GAINI, and 7.125% Notes due 2031 trading as GAING. All these securities are listed on The Nasdaq Stock Market LLC.
Gladstone Investment Corporation is incorporated in Delaware and is not designated as an emerging growth company in this filing. The company's Commission File Number is 83-0423116, and its I.R.S. Employer Identification Number is 814-00704.
The resignation and subsequent appointment were disclosed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. The date of the earliest event reported was October 22, 2026, while the report itself was dated October 26, 2026.
No other changes to the Board composition or officer appointments were detailed in this specific Item 5.02 disclosure beyond the replacement of the Lead Independent Director and the fixing of the board size.