Franklin BSP Realty Trust Elects Directors

A proposal to eliminate supermajority voting failed, while shareholders ratified PwC’s appointment as auditor.

June 03, 2025

Leadership Decisions Take Center Stage

Franklin BSP Realty Trust held its annual meeting on May 28, giving shareholders the chance to vote on key matters impacting the company’s direction in 2025. All seven director nominees were elected to serve one-year terms, extending through the 2026 meeting. These appointments ensure continuity across the boardroom, with each director receiving a strong majority of votes cast in favor.

Governance Proposal Falls Short

Shareholders also weighed in on a proposal to eliminate supermajority voting requirements from the company’s charter. While most votes supported the change, the proposal didn’t clear the higher bar required for approval—two-thirds of outstanding shares. Without that threshold, the change won’t move forward.

Auditor Confirmed with Broad Support

The meeting also confirmed PricewaterhouseCoopers LLP as the company’s independent registered public accounting firm for the 2025 fiscal year. Support for the appointment was nearly unanimous, signaling broad agreement on the choice of auditor.

Mixed Views on Executive Pay

Finally, the company’s executive compensation plan received shareholder approval through an advisory vote. While the plan passed, a meaningful portion of votes—nearly 7 million—were cast in opposition, indicating mixed views on compensation strategy.

Bottom line: The results show investor support across leadership and oversight functions, while signaling continued interest in how the company approaches governance and executive pay. Franklin BSP Realty Trust now moves forward with a renewed board and a clear set of priorities backed by shareholder input.