UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
SCHEDULE 14A
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 ☐
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| ☐ | 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 |
SMEAD FUNDS TRUST
(Name of Registrant as Specified in its Charter)
(Name of Person(s) Filing Proxy Statement if other than the Registrant)
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YOUR FINANCIAL ADVISOR DOES NOT VOTE FOR YOU!
WE HAVE ADJOURNED SEVEN TIMES DUE TO SHAREHOLDERS LACK OF PARTICIPATION
PLEASE VOTE TODAY TO AVOID INCURRED EXPENSE TO THE FUNDS WHICH IS BORNE BY ALL SHAREHOLDERS!
Dear Shareholder:
We have now adjourned the Special Meeting of Shareholders of the Smead Funds Trust SEVEN times, until May 23, 2023 due to shareholders not voting their shares. Unfortunately, this is a government mandated process that requires a certain participation to move forward. The proposals that are being set forth are in an effort to save YOU money in the future. Not voting is costing YOU money, which we want to avoid at all costs.
The proposals below are being overwhelmingly supported by your fellow shareholders that have cast their vote. We simply don’t have enough shares voting. The full proxy statement is available for your review here: www.okapivote.com/Smead.
The first proposal is to approve an amendment to the fundamental policy regarding industry concentration that would provide each Fund with the flexibility to adjust its policy on industry concentration to match the SEC definition of “concentration” if and when the SEC changes how it defines “concentration” in the future without having to incur the expense of another proxy vote.
The second proposal is to approve an amendment to the Trust’s Declaration of Trust to lower the quorum requirement for a shareholders’ meeting from 33-1/3% to 20%. The Funds have a wide shareholder base, which can make it very difficult to obtain a sufficient number of responses from shareholders to achieve a quorum at a shareholder meeting. Obtaining responses may require substantial time, money, and resources, which could result in considerable costs and expenses to the Funds. Please note that although the lower quorum requirement will allow for the approval of some matters by shareholders with fewer shares represented, certain other proposals will still require a higher number of shares to be voted to meet the threshold required to approve the proposal.
While to date, an overwhelming majority of the votes received have been cast in favor of the proposals, there are simply not sufficient shares voted to date to approve either Proposal.
In order for your vote to be represented, we must receive your voting instructions. EVEN IF IT IS PAST THE INDICATED MEETING DATE, PLEASE SUBMIT YOUR VOTE TODAY USING ONE OF THE FOLLOWING OPTIONS:
| 1. | By Internet |
Follow the simple instructions on the enclosed proxy card.
| 2. | By Touchtone |
Call the toll-free number located on your proxy card and follow the simple instructions.
| 3. | By Mail |
Sign, Date, and Return this proxy card using the enclosed postage-paid envelope
If possible, please use either of the first two options to ensure your vote is captured in time for the meeting. If you have any questions, please call Okapi Partners, the Funds’ proxy solicitor, toll-free at (844) 343-2623. Representatives are available Monday - Friday 9:00am to 10:00pm (ET). Thank you for your continued support of the Funds and your assistance in this matter.