Business Context and Reporting Period
This Form 8-K filing by Investcorp Credit Management BDC, Inc. (ICMB) reports on events occurring on February 2, 2023. The Company is a business development company incorporated in Maryland and listed on the NASDAQ Global Select Market.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on corporate governance and personnel changes.
Material Changes
The primary material change reported is the departure of Christopher E. Jansen from his positions as President and Secretary, effective February 2, 2023. The resignation was not due to any disagreement with the Company regarding operations, policies, or accounting practices.
Management Commentary and Personnel Appointments
- Appointment of President: Suhail A. Shaikh was appointed President effective immediately. Mr. Shaikh, 54, previously served as CEO of Alcentra Capital Corporation and Head of U.S. Private Credit for Alcentra Group. He also serves as Co-Chief Investment Officer of the Company's Adviser, CM Investment Partners LLC.
- Appointment of Secretary: Rocco DelGuercio was appointed Secretary effective immediately. Mr. DelGuercio, 60, concurrently serves as the Company's Chief Financial Officer, Chief Compliance Officer, and Treasurer.
- Compensation Structure: The Company does not pay cash compensation directly to its executive officers. Mr. Shaikh and Mr. DelGuercio are employees of the Adviser. The Company reimburses the Adviser for allocable overhead and expenses, including the compensation paid to these officers.
Investor Verification Checklist
- Verify the transition of investment strategy oversight under the new President, Suhail A. Shaikh.
- Confirm the terms of the Administration Agreement regarding expense reimbursement for executive compensation.
- Review subsequent filings for any changes to the Board of Directors or investment committee composition.