XAI Floating Rate & Alternative Income Trust — Form 8-K

XAI Floating Rate & Alternative Income Trust (a closed-end fund) terminated its previous sub-advisory relationship with Octagon Credit Investors, LLC effective July 30, 2026, and entered an interim investment sub-advisory agreement with Rockford Tower Asset Management, L.L.C. The new sub-adviser will manage the Trust's portfolio for 52% of the advisory fee paid to XA Investments LLC (the main adviser), capped at the amount paid under the prior agreement. This interim agreement expires in 150 calendar days or upon shareholder approval of a permanent successor agreement, whichever is earlier. Sub-adviser expense reimbursement is capped at 0.07% per annum of Net Assets.