Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
On January 26, 2023, director Brad Koenig notified the Chairman of the Board of
Directors of Hercules Capital, Inc. (the "Company") of his decision to accept a
position with the federal government and, as a consequence, resign from his
position as a member of the Board, effective as of the close of business on
January 27, 2023. Mr. Koenig's resignation from the Board, and from the boards
of any other private sector businesses, is a condition of his acceptance of the
federal government position and was not a result of any disagreements with
management or the Board.
Mr. Koenig was a Class II director of the Company and also served on the
Company's Audit Committee and Compensation Committee.
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