Definitive proxy statements

Pay vs Performance Disclosure

v3.25.1
Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table In accordance with the final rule adopted by the SEC in August 2022 implementing Section 953(a) of the Dodd-Frank Act, we
are providing the following table that sets forth certain compensation measures for certain of our officers alongside certain
performance metrics for the Company and certain of its industry peers:
Value of Initial $100
Investment:
Year
Summary
Compensation
Table CEO
Total
Compensation
($)
Compensation
Actually Paid
to CEO ($)(1)
Average SCT
Non-CEO
NEOs Total
Compensation
($)
Average
Compensation
Actually Paid
to Non-CEO
NEOs ($)(1)
Company
TSR ($)
Peer Group
TSR ($)(2)
Net
Income
($ in
thousands)
Return on
Equity
2024
9,076,742
12,296,799
2,001,861
2,563,410
250.11
134.35
262,966
17.2%
2023
8,891,994
11,871,291
1,778,104
2,234,447
187.59
128.90
337,484
14.9%
2022
7,370,508
12,508,448
1,441,832
1,354,862
131.26
113.50
102,081
11.6%
2021
7,410,986
11,960,041
1,548,309
1,560,941
145.05
125.26
174,155
11.1%
2020
7,871,404
12,662,414
1,621,547
1,676,816
115.13
91.15
227,261
11.3%
       
Company Selected Measure Name eturn on Equity        
Named Executive Officers, Footnote 2022, 2023 and 2024 CEO is Bluestein; non-CEO NEOs are Meyer, Botelho and Follmann
—2021 CEO is Bluestein; non-CEO NEOs are Meyer and Grace
—2020 CEO is Bluestein; non-CEO NEOs are Meyer and Grace
       
Peer Group Issuers, Footnote “Peer Group” TSR is the S&P500 BDC Index        
PEO Total Compensation Amount $ 9,076,742 $ 8,891,994 $ 7,370,508 $ 7,410,986 $ 7,871,404
PEO Actually Paid Compensation Amount $ 12,296,799 11,871,291 12,508,448 11,960,041 12,662,414
Adjustment To PEO Compensation, Footnote (1)The amounts shown for Compensation Actually Paid (CAP) have been calculated in accordance with Item 402(v) of Regulation S-K
and do not reflect compensation actually earned, realized, or received by our CEO or Other NEOs. These amounts reflect the
Summary Compensation Table Total (SCT) with certain adjustments as set forth in the following reconciliation table:
Name
Year
SCT
Total ($)
SCT
Stock
Awards
($)
Fair
Value of
Stock
Awards
Granted
in the
Covered
Year ($)
Change
in Fair
Value of
Unvested
Stock
Awards
from
Prior
Years ($)
Fair
Value of
Stock
Awards
Granted
and
Vested
in the
Covered
Year ($)
Change
in Fair
Value of
Stock
Awards
from
Prior
Years
that
Vested
in
the
Covered
Year ($)
Fair
Value of
Stock
Awards
Forfeite
d
($)
Value of
Dividends
on
Unvested
Stock
Awards
Not
Otherwise
Reflected
in Fair
Value ($)
Compensation
Actually Paid
PEO
2024
9,076,742
(4,903,742)
6,161,244
1,294,682
-
667,873
-
-
12,296,799
2023
8,891,994
(5,019,494)
7,102,637
576,741
-
319,413
-
-
11,871,291
2022
7,370,508
(3,700,008)
3,211,607
(126,779)
-
5,753,121
-
-
12,508,448
2021
7,410,986
(3,449,995)
4,289,439
2,843,025
-
866,586
-
-
11,960,041
2020
7,871,404
(3,989,493)
4,454,699
4,439,836
-
(114,033)
-
-
12,662,414
NEO
Average
2024
2,001,861
(984,695)
1,232,068
210,493
-
103,683
-
-
2,563,410
2023
1,778,104
(818,104)
1,149,198
82,349
-
42,900
-
-
2,234,447
2022
1,441,832
(541,665)
470,981
(20,807)
-
4,521
-
-
1,354,862
2021
1,548,309
(611,752)
676,676
7,210
-
65,068
(124,571)
-
1,560,941
2020
1,621,547
(602,500)
672,756
21,233
-
(36,220)
-
-
1,676,816
       
Non-PEO NEO Average Total Compensation Amount $ 2,001,861 1,778,104 1,441,832 1,548,309 1,621,547
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,563,410 2,234,447 1,354,862 1,560,941 1,676,816
Adjustment to Non-PEO NEO Compensation Footnote (1)The amounts shown for Compensation Actually Paid (CAP) have been calculated in accordance with Item 402(v) of Regulation S-K
and do not reflect compensation actually earned, realized, or received by our CEO or Other NEOs. These amounts reflect the
Summary Compensation Table Total (SCT) with certain adjustments as set forth in the following reconciliation table:
Name
Year
SCT
Total ($)
SCT
Stock
Awards
($)
Fair
Value of
Stock
Awards
Granted
in the
Covered
Year ($)
Change
in Fair
Value of
Unvested
Stock
Awards
from
Prior
Years ($)
Fair
Value of
Stock
Awards
Granted
and
Vested
in the
Covered
Year ($)
Change
in Fair
Value of
Stock
Awards
from
Prior
Years
that
Vested
in
the
Covered
Year ($)
Fair
Value of
Stock
Awards
Forfeite
d
($)
Value of
Dividends
on
Unvested
Stock
Awards
Not
Otherwise
Reflected
in Fair
Value ($)
Compensation
Actually Paid
PEO
2024
9,076,742
(4,903,742)
6,161,244
1,294,682
-
667,873
-
-
12,296,799
2023
8,891,994
(5,019,494)
7,102,637
576,741
-
319,413
-
-
11,871,291
2022
7,370,508
(3,700,008)
3,211,607
(126,779)
-
5,753,121
-
-
12,508,448
2021
7,410,986
(3,449,995)
4,289,439
2,843,025
-
866,586
-
-
11,960,041
2020
7,871,404
(3,989,493)
4,454,699
4,439,836
-
(114,033)
-
-
12,662,414
NEO
Average
2024
2,001,861
(984,695)
1,232,068
210,493
-
103,683
-
-
2,563,410
2023
1,778,104
(818,104)
1,149,198
82,349
-
42,900
-
-
2,234,447
2022
1,441,832
(541,665)
470,981
(20,807)
-
4,521
-
-
1,354,862
2021
1,548,309
(611,752)
676,676
7,210
-
65,068
(124,571)
-
1,560,941
2020
1,621,547
(602,500)
672,756
21,233
-
(36,220)
-
-
1,676,816
       
Compensation Actually Paid vs. Total Shareholder Return The graph below reflects the relationship between “Compensation Actually Paid” to our CEO and other NEOs and TSR for
the Company and the S&P BDC Index:
1.jpg
        
Compensation Actually Paid vs. Net Income The graph below reflects the relationship between “Compensation Actually Paid” to our CEO and other NEOs and Net
Investment Income:
Screenshot 2025-04-24 154230.jpg
        
Compensation Actually Paid vs. Company Selected Measure The graph below reflects the relationship between “Compensation Actually Paid” to our CEO and other NEOs and the
Company Selected Performance Measure of ROE for the Company:
2.jpg
        
Total Shareholder Return Vs Peer Group The graph below reflects the relationship between “Compensation Actually Paid” to our CEO and other NEOs and TSR for
the Company and the S&P BDC Index:
1.jpg
        
Tabular List, Table return on equity (ROE);
•total dividends paid to stockholders;
•net realized gain or losses; and
•net unrealized appreciation or depreciation. 		       
Total Shareholder Return Amount $ 250.11 187.59 131.26 145.05 115.13
Peer Group Total Shareholder Return Amount 134.35 128.90 113.50 125.26 91.15
Net Income (Loss) $ 262,966,000 $ 337,484,000 $ 102,081,000 $ 174,155,000 $ 227,261,000
Company Selected Measure Amount 0.172 0.149 0.116 0.111 0.113
PEO Name   Bluestein Bluestein Bluestein Bluestein
Additional 402(v) Disclosure As described above, restrictions imposed by the 1940 Act restrict the Compensation Committee’s ability to use
nondiscretionary or formulaic Company performance goals or criteria to determine executive incentive compensation. The
Compensation Committee instead considers several financial performance metrics, along with other factors including
operational goals and individual performance criteria, in determining the appropriate compensation for the NEOs.Other key metrics considered by the Compensation Committee when determining the appropriate compensation for NEOs
include gross and net investment activity, net origination activities, growth and performance of the Company’s registered
investment advisory business, maintenance of liquidity and capital flexibility and individual contributions to corporate
objectives. 		       
Measure:: 1          
Pay vs Performance Disclosure          
Name return on equity (ROE)        
Measure:: 2          
Pay vs Performance Disclosure          
Name total dividends paid to stockholders        
Measure:: 3          
Pay vs Performance Disclosure          
Name net realized gain or losses        
Measure:: 4          
Pay vs Performance Disclosure          
Name net unrealized appreciation or depreciation        
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (4,903,742) $ (5,019,494) $ (3,700,008) $ (3,449,995) $ (3,989,493)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 6,161,244 7,102,637 3,211,607 4,289,439 4,454,699
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,294,682 576,741 (126,779) 2,843,025 4,439,836
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 667,873 319,413 5,753,121 866,586 (114,033)
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (984,695) (818,104) (541,665) (611,752) (602,500)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,232,068 1,149,198 470,981 676,676 672,756
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 210,493 82,349 (20,807) 7,210 21,233
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 103,683 42,900 4,521 65,068 (36,220)
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 (124,571) 0
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 0 $ 0 $ 0 $ 0 $ 0