Business Context and Reporting Period
This Form 8-K filing by Oxford Square Capital Corp. (OXSQ) was submitted on July 12, 2021. The report addresses a change in the composition of the Board of Directors.
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 corporate governance changes rather than financial performance.
Material Changes
- Resignation: Richard W. Neu resigned from the Board of Directors effective immediately on July 12, 2021.
- Appointment: Barry A. Osherow was appointed to fill the vacancy created by Mr. Neu's resignation.
- Committee Assignments: Mr. Osherow was appointed to the Nominating, Audit, Compensation, and Valuation Committees.
- Term: Mr. Osherow will serve until the 2022 annual meeting of stockholders or until his successor is elected.
Management Commentary and Background
The Board determined that Mr. Osherow is not an "interested person" under the Investment Company Act of 1940. He was selected for his over 25 years of experience as a finance executive and extensive credit experience with middle-market companies. Mr. Osherow is currently a partner at Level Equity Management, LLC, and was previously a founding team member of Oxford Square Capital Corp. He will receive standard annual and meeting fees consistent with existing director compensation arrangements. No family relationships or material transactions exceeding $120,000 involving Mr. Osherow were disclosed.
Key Facts for Investor Verification
- Confirmation of the effective date of Richard W. Neu's resignation.
- Verification of Barry A. Osherow's independence status and committee assignments.
- Review of Mr. Osherow's current role at Level Equity Management, LLC for potential conflicts of interest.
- Confirmation that no undisclosed compensatory arrangements exist beyond standard director fees.