GLAD — what changed in the latest 10-Q
A section-by-section comparison of GLAD's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-06 vs the prior 10-Q · 2026-02-04
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +43 | −17 | ~37 | 47 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~3 | 5 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | +1 | −3 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-06
•In January 2026, our $42.8 million debt investment in Vet's Choice Radiology LLC paid off at par. We also received a $0.9 million prepayment penalty in conjunction with the payoff.
•In January 2026, we invested $6.0 million in IMX Power Holdings Inc. (“IMX”) through secured first lien debt. We also extended IMX a $1.5 million line of credit commitment and a $3.0 million delayed draw term loan commitment, both of which were unfunded at close.
•In February 2026, we invested $18.0 million in Clean Water Environmental Services, Inc. through secured first lien debt.
•In February 2026, we invested $6.3 million in Dutch Gold Honey, Inc., an existing portfolio company, through secured second lien debt. In connection with this transaction, we received a distribution of $2.6 million, of which $0.8 million was recognized as return of capital and $1.8 million was reco…
•In March 2026, we invested $10.0 million in Incodema3D Holdings, Inc. through secured second lien debt.
Text removed vs the prior filing · source: 10-Q · 2026-02-04
Refer to Note 12 — Subsequent Events in the accompanying Consolidated Financial Statements included elsewhere in this Quarterly Report for portfolio activity occurring subsequent to December 31, 2025.
We have been able to meet our capital needs through extensions of and amendments to our line of credit with KeyBank National Association (“KeyBank”), as administrative agent, lead arranger and lender (as amended and/or restated from time to time, our “Credit Facility”) and by accessing the capital m…
Although we have been able to access the capital markets historically and in recent years, market conditions may affect the trading price of our capital stock and thus may inhibit our ability to finance new investments through the issuance of equity in the future. When our common stock trades below …
through sales to our then-existing stockholders pursuant to a rights offering. On December 31, 2025, the closing market price of our common stock was $20.66 per share, a 2.2% discount to our December 31, 2025 NAV per share of $21.13.
On January 13, 2026, our Board of Directors declared the following distributions to common and preferred stockholders:
Other information
Text added vs the prior filing · source: 10-Q · 2026-05-06
During the three months ended March 31, 2026, none of our officers or directors adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading…
Text removed vs the prior filing · source: 10-Q · 2026-02-04
During the three months ended December 31, 2025, none of our officers or directors adopted or terminated any contract,
instruction or written plan for the purchase or sale of our securities that was intended to satisfy the affirmative defense
conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice