Hercules Technology Growth Capital, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Hercules Technology Growth Capital, Inc. on March 29, 2012, reporting events occurring on March 27, 2012. The filing addresses corporate governance changes regarding the appointment of a permanent Chief Financial Officer.
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 executive compensation and appointment details rather than financial performance metrics.
Material Changes
Effective March 27, 2012, the Board of Directors appointed Jessica T. Baron as the Company's permanent Chief Financial Officer, succeeding her role as Interim CFO which began on June 1, 2011. In connection with this appointment, the following compensation terms were established:
- Base Salary: $235,000 annually, subject to annual review.
- Equity Award: 25,000 shares of restricted common stock under the 2004 Equity Incentive Plan.
- Vesting Schedule: One-fourth vests on the one-year anniversary of the grant date, with the remainder vesting ratably over the succeeding 36 months.
Outlook, Risks, and Management Commentary
The filing highlights Ms. Baron's extensive tenure at the company, having joined in October 2006 as Corporate Controller and serving as Vice President of Finance since October 2010. Her background includes strategic finance roles at Cisco Systems, Levi Strauss, and PricewaterhouseCoopers. No specific guidance, risks, or contingencies regarding future financial performance are disclosed in this document.
Key Facts for Investor Verification
- Confirmation of Jessica T. Baron's permanent appointment as CFO effective March 27, 2012.
- Verification of the $235,000 annual base salary and 25,000 restricted stock grant.
- Review of the vesting schedule for the restricted stock award (25% at one year, remainder over 36 months).
- Confirmation that no financial performance data is included in this specific 8-K filing.