ADVISORS SERIES TRUST DEF 14A filed 2026-09-10

Advisors Series Trust, a Delaware registered investment company with a business address at U.S. Bancorp Fund Services, LLC, 615 E Michigan Street, Milwaukee, WI, 53202, filed a definitive proxy statement on Schedule 14A on 2026-09-10 under accession 0000894189-26-025118. The proxy covers the Capital Advisors Growth Fund, one series of the trust, and sets a special meeting of shareholders for October 29, 2026 at 11:30 am Central Time at the offices of U.S. Bank Global Fund Services, 777 East Wisconsin Avenue, 5th Floor, Milwaukee, Wisconsin 53202. The box for "No fee required" is checked. The excerpt refers to two proposals, and the Board of Trustees has unanimously approved them and recommends that shareholders vote FOR. The reason for the vote is a change of control at the adviser. On May 3, 2026, Capital Advisors, Inc. and Corient Private Wealth LP entered into an asset purchase agreement under which Corient would acquire substantially all of Capital Advisors' assets, including its investment advisory contract with the fund. The transaction closed on June 29, 2026. Under the Investment Company Act of 1940 that closing was an "assignment," which automatically terminated the previous advisory agreement. To keep the fund running, the Board approved an interim investment advisory agreement at a June 25, 2026 meeting with Segall Bryant & Hamill, LLC d/b/a CI SBH Asset Management, an affiliate of Corient. That interim agreement relies on Rule 15a-4 and can last no longer than 150 calendar days after the closing, which is why a shareholder vote is now required. At the same meeting the Board approved a new advisory agreement with the same firm, and that is what shareholders are being asked to approve. The excerpt states the new agreement has terms substantially identical to the previous one except for the adviser and the dates, the same investment management fee schedule, and an expense limitation on the fund's total operating expenses that remains unchanged for at least two years from the effective date. For an analyst, the practical point is continuity of management with a new owner rather than a repricing. The dollar level of the advisory fee, the expense limitation figure, the fund's assets, the record date, the vote required for approval, and the identity of the second proposal are not in the filing excerpt and would need to be read from the source document.