Business Context and Reporting Period
This Form 8-K Current Report was filed by Saratoga Investment Corp. on October 15, 2020, with the earliest event reported on that same date. The filing addresses significant changes in the Company's Board of Directors and executive leadership.
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 corporate governance changes rather than financial performance.
Material Changes
- Resignation of Director and President: Michael J. Grisius resigned from the Board of Directors and his role as President, effective immediately on October 15, 2020. The resignation was accepted by the Board with no disagreement regarding operations, policies, or practices. Mr. Grisius will continue serving as Chief Investment Officer at Saratoga Investment Advisors, LLC.
- Appointment of Director: Henri J. Steenkamp was appointed to the Board on October 16, 2020, to fill the vacancy left by Mr. Grisius. Mr. Steenkamp currently serves as the Company's Chief Financial Officer, Chief Compliance Officer, Treasurer, and Secretary. His initial term expires at the 2023 annual meeting.
- Appointment of President: Christian L. Oberbeck was appointed President on October 16, 2020, effective immediately. Mr. Oberbeck also serves as the Chief Executive Officer and Chairman of the Board. He previously served as President until February 2014.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future performance. No specific risks, contingencies, or unusual items were disclosed in this report. The text confirms there are no transactions involving the newly appointed officers requiring disclosure under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Verify the effective dates of the leadership transitions (October 15 and 16, 2020).
- Confirm the continued role of Michael J. Grisius as Chief Investment Officer at the investment adviser.
- Review the professional background of Henri J. Steenkamp, specifically his tenure as CFO since March 2014 and prior experience at MF Global and PwC.
- Confirm Christian L. Oberbeck's dual role as President and CEO and his extensive history with Saratoga Partners.
- Note that this filing does not contain updated financial statements or liquidity data.