Business Context and Reporting Period
This Form 8-K Current Report was filed by Owl Rock Capital Corporation (trading symbol: ORCC) on February 23, 2021. The report discloses a corporate governance event regarding the appointment of a new director to the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
- Board Expansion: The Board of Directors increased its size to eight directors.
- New Appointment: Melissa Weiler was appointed as a Class II director, effective February 23, 2021.
- Committee Assignments: Ms. Weiler was appointed to the Nominating Committee, Audit Committee, and Compensation Committee.
- Related Entities: Ms. Weiler concurrently joined the boards of Owl Rock Capital Corporation II, Owl Rock Capital Corporation III, Owl Rock Technology Finance Corp., and Owl Rock Core Income Corp.
Management Commentary and Risks
Management stated that Ms. Weiler's broad investment management background, including her tenure as a Managing Director at Crescent Capital Group and Trust Company of the West, brings valuable financial and accounting skills to the Board. The Board determined she is not an "interested person" under the 1940 Act. No unusual items, risks, or contingencies were disclosed in this filing.
Investor Verification Checklist
- Verify the effective date of Ms. Weiler's appointment (February 23, 2021) and her term duration (until the 2021 annual meeting).
- Confirm the total number of directors on the Board is now eight.
- Review the standard director compensation arrangements and indemnification agreement referenced in the filing.
- Check for any potential conflicts of interest, noting the filing states no material transactions exceeding $120,000 exist between Ms. Weiler and the Company.