Medley Capital Corporation (NYSE:MCC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Medley Capital Corporation (NYSE:MCC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On June 19, 2017, Robert K. Lyons resigned as a member of the board of directors (the “Board”) of Medley Capital Corporation (the “Company”), effective as of June 19, 2017.>
(d) On June 19, 2017, the Board appointed Mark Lerdal in order to fill the vacancy on the Board created by Mr. Lyons’ resignation and to serve as a member of the Board, effective June 19, 2017, until the Company’s 2018 annual meeting of shareholders and until his successor is duly elected and qualified. Mr. Lerdal will also serve as a member of the audit committee of the Board and as a member of the compensation committee of the Board. Mr. Lerdal was not appointed to the Board to any arrangement or understanding with any other person, and there are no current or proposed transactions between the Company and Mr. Lerdal or his immediate family members which would require disclosure under Item 404(a) of Regulation S-K promulgated by the Securities and Exchange Commission.
Mr. Lerdal will receive director fees consistent with the director compensation arrangement as described in the Company’s definitive proxy statement filed with the SEC on December 21, 2016, and incorporated by reference into this Item 5.02.
About Medley Capital Corporation (NYSE:MCC)
Medley Capital Corporation is a non-diversified closed-end management investment company. The Company’s investment objective is to generate current income and capital appreciation by lending directly to privately-held middle market companies, primarily through directly originated transactions to help these companies expand their business, refinance and make acquisitions. Its investment portfolio includes senior secured first lien term loans, senior secured second lien term loans, unitranche, senior secured first lien notes, subordinated notes and warrants and minority equity securities. It may invest up to 100% of its assets in securities acquired directly from issuers in privately negotiated transactions. Its portfolio of investments includes industries, including banking, finance, insurance and real estate; construction and building; healthcare and pharmaceuticals; beverage and food, and telecommunications. MCC Advisors LLC is the Company’s investment advisor.
Medley Capital Corporation is a non-diversified closed-end management investment company. The Company’s investment objective is to generate current income and capital appreciation by lending directly to privately-held middle market companies, primarily through directly originated transactions to help these companies expand their business, refinance and make acquisitions. Its investment portfolio includes senior secured first lien term loans, senior secured second lien term loans, unitranche, senior secured first lien notes, subordinated notes and warrants and minority equity securities. It may invest up to 100% of its assets in securities acquired directly from issuers in privately negotiated transactions. Its portfolio of investments includes industries, including banking, finance, insurance and real estate; construction and building; healthcare and pharmaceuticals; beverage and food, and telecommunications. MCC Advisors LLC is the Company’s investment advisor.