Form 497 PROFESSIONALLY MANAGED
Hodges Fund
Retail Class Ticker HDPMX
Hodges Small Cap Fund
Retail Class Ticker HDPSX
Institutional Class Ticker HDSIX
Hodges Small Intrinsic Value Fund
Retail Class Ticker HDSVX
Hodges Blue Chip Equity Income Fund
Retail Class Ticker HDPBX
(each a “Fund” and collectively, the “Funds”)
each a series of Professionally Managed Portfolios (the “Trust”)
Supplement dated September 22, 2021 to
Statement of Additional Information (the “SAI”) dated July 29, 2021
Effective August 31, 2021, Ms. Elaine E. Richards resigned from her role as President & Principal Executive Officer of the Trust. All references in the SAI to Ms. Richards should be disregarded. At a meeting held on August 17-18, 2021, the Board of Trustees of the Trust elected Jason F. Hadler as the new President & Principal Executive Officer of the Trust, effective September 1, 2021.
Accordingly, the Officers of the Trust table in the section entitled “Trustees and Executive Officers” on page 25 of the Funds' SAI is hereby deleted and replaced with the following:
Name, Address And Age | Position with the Trust(1) | Term of Office(2) and Length of Time Served | Principal Occupation During Past Five Years | Number of Portfolios in Fund Complex(3) Overseen by Trustees | Other Directorships Held During the Past 5 Years | ||||||||||||
Officers of the Trust | |||||||||||||||||
Jason F. Hadler (born 1975) c/o U.S. Bank Global Fund Services 615 East Michigan St. Milwaukee, WI 53202 | President & Principal Executive Officer | Indefinite Term; Since September 2021. | Senior Vice President and Head of Fund Services Fund Administration Department, U.S. Bank Global Fund Services since December 2003. | Not Applicable. | Not Applicable. |
Carl G. Gee, J.D. (born 1990) c/o U.S. Bank Global Fund Services 615 East Michigan St. Milwaukee, WI 53202 | Secretary & Vice President | Indefinite Term; Since February 2021. | Assistant Vice President, U.S. Bank Global Fund Services since August 2016; Summer Associate, Husch Blackwell LLP (2015); Law Clerk, Brady Corporation (global printing systems, labels and safety products company) (2014-2015). | Not Applicable. | Not Applicable. | ||||||||||||
Aaron J. Perkovich (born 1973) c/o U.S. Bank Global Fund Services 615 East Michigan St. Milwaukee, WI 53202 | Vice President Treasurer | Indefinite Term; Since March 2017. Indefinite Term; Since August 2016. | Vice President, U.S. Bank Global Fund Services since June 2006. | Not Applicable. | Not Applicable. | ||||||||||||
Melissa Breitzman (born 1983) c/o U.S. Bank Global Fund Services 615 East Michigan St. Milwaukee, WI 53202 | Assistant Treasurer | Indefinite Term; Since August 2016. | Assistant Vice President, U.S. Bank Global Fund Services LLC since June 2005. | Not Applicable. | Not Applicable. | ||||||||||||
Craig Benton (born 1985) c/o U.S. Bank Global Fund Services 615 East Michigan St. Milwaukee, WI 53202 | Assistant Treasurer | Indefinite Term; Since August 2016. | Assistant Vice President, U.S. Bank Global Fund Services since November 2007. | Not Applicable. | Not Applicable. | ||||||||||||
Cory Akers (born 1978) c/o U.S. Bank Global Fund Services 615 East Michigan St. Milwaukee, WI 53202 | Assistant Treasurer | Indefinite Term; Since August 2017. | Assistant Vice President, U.S. Bank Global Fund Services since October 2006. | Not Applicable. | Not Applicable. |
Donna Barrette (born 1966) c/o U.S. Bank Global Fund Services 615 East Michigan St. Milwaukee, WI 53202 | Vice President Chief Compliance Officer Anti-Money Laundering Officer | Indefinite Term; Since July 2011. | Senior Vice President and Compliance Officer, U.S. Bank Global Fund Services since August 2004. | Not Applicable. | Not Applicable. |
(1.All Trustees of the Trust who are not “interested persons” of the Trust as defined under the 1940 Act (“Independent Trustees”).
(2.Under the terms of the Board’s retirement policy, a Trustee shall retire at the end of the calendar year in which he or she reaches the age of 78 (or, in the case of a Trustee who was over the age of 78 at the time the retirement policy was adopted in 2019, December 31, 2021).
(3.The Trust is comprised of numerous series managed by unaffiliated investment advisers. The term “Fund Complex” applies only to the Fund. The Fund does not hold itself out as related to any other series within the Trust for investment purposes.
* * * * *
Please retain this supplement for your reference.
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