Crescent Capital BDC, Inc. current report, 12 May 2023

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Crescent Capital BDC, Inc. Form 8-K Summary

Business Context and Reporting Period

This Current Report on Form 8-K covers the results of the 2023 Annual Meeting of Stockholders held on May 12, 2023. The report was filed on May 17, 2023. Crescent Capital BDC, Inc. is a Maryland corporation with common stock (CCAP) trading on The Nasdaq Stock Market LLC and 5.00% Notes due 2026 (FCRX) trading on The New York Stock Exchange.

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 voting results.

Material Changes

There are no material financial changes reported in this filing. The primary events are the election of directors and the ratification of the independent auditor.

Management Commentary and Voting Results

Two proposals were submitted to a vote of security holders:

  • Proposal 1: Election of Class II Directors. Susan Y. Lee and Michael S. Segal were elected to serve three-year terms expiring at the 2026 annual meeting.
    • Susan Y. Lee: 18,420,510 votes For; 369,971 votes Withheld; 6,900,051 Broker Non-Votes.
    • Michael S. Segal: 18,365,353 votes For; 425,128 votes Withheld; 6,900,051 Broker Non-Votes.
  • Proposal 2: Ratification of Independent Auditor. Stockholders approved the selection of Ernst & Young LLP (E&Y) as the independent registered public accounting firm for the fiscal year ending December 31, 2023.
    • Votes: 25,419,744 For; 187,628 Against; 83,160 Abstained.

Key Facts for Investor Verification

  • Verify the total number of shares outstanding to contextualize the voting percentages.
  • Confirm the specific responsibilities and tenure of the newly elected Class II Directors, Susan Y. Lee and Michael S. Segal.
  • Review the upcoming 10-K or 10-Q filings for the actual financial performance metrics (revenue, NAV, distributions) which are not included in this 8-K.
  • Note the significant number of Broker Non-Votes (6,900,051) on the director election, indicating shares held by brokers that were not voted on this matter.