<strong>WASATCH</strong> <strong>FUNDS</strong> — Notes to Financial Statements (continued) MARCH 31, 2015 (UNAUDITED) 17. SUBSEQUENT EVENTS At the Wasatch Funds Board meeting on February 10, 2015, the Board of Trustees approved a plan of liquidation, termination, and dissolution of the Heritage Growth Fund. The net assets of the Fund were liquidated and distributed to the remaining Fund shareholders on April 30, 2015. At the Wasatch Funds Board meeting on May 19, 2015, the Board of Trustees authorized the Trust to decrease the committed line of credit from $200,000,000 to $100,000,000 and increase the uncommitted line of credit from $100,000,000 to $200,000,000 with State Street Bank and Trust Company. The total of the two lines of credit remained at $300,000,000. (See Note 12.) 136
<strong>WASATCH</strong> <strong>FUNDS</strong> — Supplemental Information MARCH 31, 2015 (UNAUDITED) MANAGEMENT OF THE COMPANY Management Information. The business affairs of Wasatch Funds are overseen by its Board of Trustees. The Board consists of five Independent Trustees and one Interested Trustee. Three of the Independent Trustees and the Interested Trustee were elected by shareholders to serve until their successors are qualified, appointed or elected in accordance with the Trust’s Declaration of Trust and By-Laws. Two Independent Trustees have been appointed by the elected Independent Trustees to serve until their successors are qualified, appointed or elected in accordance with the Trust’s Declaration of Trust and By-Laws. The trustees and executive officers of Wasatch Funds and their principal occupations for at least the last five years are set forth below. Name, Address and Age Independent Trustees James U. Jensen, J.D., MBA 505 Wakara Way 3rd Floor Salt Lake City, UT 84108 Age 70 Position(s) Held with Wasatch Funds Term of Office 1 and Length of Time Served Principal Occupation(s) during Past 5 Years Number of Portfolios in Fund Complex Overseen by Trustee Other Directorships Held by Trustee during Past 5 Years 2 Trustee and Chairman of the Board Indefinite Served as Chairman of the Board since 2004 and Trustee since 1986 Chief Executive Officer of Clearwater Law & Governance Group (an operating law firm board governance consulting company) April 2008 to present; Co-Founder and Chairman of the Board of Intelisum, Inc. (a company pursuing computer and measurement technology and products) 2001 - 2008; Consultant on corporate growth and technology transfer since 2004; Vice President, Corporate Development, Legal Affairs and General Counsel, and Secretary, NPS Pharmaceuticals, Inc. from 1991 to 2004. 20 Director and Board Chairman of Agricon Global Corporation (formerly known as Bayhill Capital Corporation (telephone communications) from December 2007 to February 2014; Trustee, Northern Lights Fund Trust III (30 portfolios) since 2012. D. James Croft, Ph.D. 505 Wakara Way 3rd Floor Salt Lake City, UT 84108 Age 73 Trustee and Chairman of the Governance & Nominating Committee Indefinite Served as Trustee since 2005 Consultant to the mortgage industry on issues of mortgage quality, identification of mortgage fraud, strategic planning and client development since 2004; Founder and Executive Director, Mortgage Asset Research Institute from 1990 to 2004. 20 None Miriam M. Allison 3 505 Wakara Way 3rd Floor Salt Lake City, UT 84108 Age 67 Trustee and Chairman of the Audit Committee Indefinite Served as Trustee since 2010 Rancher since 2004. From 2001 to 2005, Chairman of UMB Fund Services, Inc. 20 Director, Northwestern Mutual Series Fund, Inc. (27 portfolios) since 2006. Heikki Rinne, Ph.D. 505 Wakara Way 3rd Floor Salt Lake City, UT 84108 Age 62 Trustee Indefinite Served as Trustee since October 2012 Chief Executive Officer of the Halton Group Ltd. (an indoor environmental control manufacturing and technology company) since 2002. 20 None Kristen M. Fletcher 505 Wakara Way 3rd Floor Salt Lake City, UT 84108 Age 62 Trustee Indefinite Served as Trustee since October 2014 Director Utah Symphony/Utah Opera since 2005; Director, Woodlands Commercial Bank 2009 to 2012; Chairman and CEO, ABN AMRO, Inc. and U.S. Country Representative, ABN AMRO Bank, NV from 2002 to 2004. 20 Director Utah Symphony/ Utah Opera since 2005; Director Woodlands Commercial Bank 2009 to 2012. Interested Trustee Samuel S. Stewart, Jr. Ph.D., CFA 4 505 Wakara Way 3rd Floor Salt Lake City, UT 84108 Age 72 President and Trustee Indefinite Served as President and Trustee since 1986 Chairman of the Board for the Advisor since 1975; Chief Investment Officer of the Advisor from 2004 to June 2009; Director of Research of the Advisor from 1975 to 2004; Chairman of the Board of Wasatch Funds from 1986 to 2004. 20 None 1A Trustee may serve until his/her death, resignation, removal or retirement. Each Independent Trustee shall retire as Trustee at the end of the calendar year in which he/she attains the age of 75 years. 2 Directorships are those held by a Trustee in any company with a class of securities registered pursuant to Section 12 of the Securities Exchange Act of 1934 or subject to the requirements of Section 15(d) of the Securities Exchange Act or any company registered as an investment company under the 1940 Act. 3 Ms. Allison previously owned shares of UMB Financial Corp., the parent company of UMB Fund Services, Inc., the Funds’ transfer agent. Ms. Allison no longer owns such shares. 4 Dr. Stewart is an Interested Trustee because he serves as the Chairman of the Board and Portfolio Manager of the Advisor. 137
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2015 SEMI-ANNUAL REPORT AND QUARTER
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TABLE OF CONTENTS Letter to Shareho
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MARCH 31, 2015 (UNAUDITED) Moreover
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WASATCH CORE GROWTH FUND (WGROX / W
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WASATCH EMERGING INDIA FUND (WAINX)
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WASATCH EMERGING MARKETS SELECT FUN
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WASATCH EMERGING MARKETS SMALL CAP
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WASATCH FRONTIER EMERGING SMALL COU
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WASATCH GLOBAL OPPORTUNITIES FUND (
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WASATCH HERITAGE GROWTH FUND (WAHGX
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WASATCH INTERNATIONAL GROWTH FUND (
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WASATCH INTERNATIONAL OPPORTUNITIES
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WASATCH LARGE CAP VALUE FUND (FMIEX
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WASATCH LONG/SHORT FUND (FMLSX / WI
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WASATCH MICRO CAP FUND (WMICX) —
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WASATCH MICRO CAP VALUE FUND (WAMVX
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WASATCH SMALL CAP GROWTH FUND (WAAE
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WASATCH SMALL CAP VALUE FUND (WMCVX
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WASATCH STRATEGIC INCOME FUND (WASI
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WASATCH ULTRA GROWTH FUND (WAMCX)
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WASATCH WORLD INNOVATORS FUND (WAGT
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WASATCH-1ST SOURCE INCOME FUND (FME
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WASATCH-HOISINGTON U.S. TREASURY FU
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WASATCH FUNDS —OPERATING EXPENSES
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MARCH 31, 2015 (UNAUDITED) Fund/Cla
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MARCH 31, 2015 (UNAUDITED) Shares V
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MARCH 31, 2015 (UNAUDITED) Shares V
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MARCH 31, 2015 (UNAUDITED) At March
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MARCH 31, 2015 (UNAUDITED) Shares V
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WASATCH FRONTIER EMERGING SMALL COU
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MARCH 31, 2015 (UNAUDITED) Principa
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MARCH 31, 2015 (UNAUDITED) Shares V
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WASATCH INTERNATIONAL GROWTH FUND (
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WASATCH INTERNATIONAL OPPORTUNITIES
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MARCH 31, 2015 (UNAUDITED) Shares V
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WASATCH LARGE CAP VALUE FUND (FMIEX
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MARCH 31, 2015 (UNAUDITED) Principa
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MARCH 31, 2015 (UNAUDITED) Shares V
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MARCH 31, 2015 (UNAUDITED) Shares V
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WASATCH SMALL CAP GROWTH FUND (WAAE
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WASATCH SMALL CAP VALUE FUND (WMCVX
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WASATCH STRATEGIC INCOME FUND (WASI
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WASATCH ULTRA GROWTH FUND (WAMCX)
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