Spinnaker ETF Series will continue receiving administrative services from The Nottingham Company under Legacy Agreement terms while a new long-term contract may be pursued; OOSP paid $41,885 in administration fees in 2026. Investors face a possible change in service-agreement terms and an explicitly identified operational risk if services go unpaid.

Key Highlights

  • The updated administrator provisions took effect September 1, 2026, in the Prospectus and Statement of Additional Information.
  • Nottingham will continue providing administrative services consistent with the Legacy Agreement while a Long-Term Agreement may be sought.
  • Obra Defensive High Yield ETF paid $24,370 in administration fees and $21,221 in accounting fees during 2026.

Administrator Terms Replaced Effective September 1

Obra Opportunistic Structured Products ETF paid Nottingham $41,885 in administration fees in 2026. The revised administrator language took effect September 1, 2026, replacing the relevant sections of the Prospectus and Statement of Additional Information dated August 1, 2026.

Fund Services and Reported Fees

Nottingham coordinates custodial and third-party services, provides office facilities and administrative personnel, assists with books, records and tax reports, and supports Shareholder reports, proxy materials and regulatory registrations. For 2026 and 2025, OOSP paid administration fees of $41,885 and $30,939, respectively, plus accounting fees of $32,157 and $33,063. OGSP paid administration fees of $32,618 and $30,939, alongside accounting fees of $30,156 and $33,806. ODHY paid $24,370 in administration fees and $21,221 in accounting fees in 2026; it commenced operations on June 27, 2025.