Main Street Capital Corp. Files Definitive Proxy Statement

TL;DR

<b>Main Street Capital Corporation has filed its Definitive Proxy Statement for the upcoming Annual Meeting of Stockholders.</b>

AI Summary

Main Street Capital CORP (MAIN) filed a Proxy Statement (DEF 14A) with the SEC on March 25, 2024. Filing Type: DEF 14A (Definitive Proxy Statement). Filing Date: 2024-03-25. Reporting Period: 2024-03-25. Company Name: Main Street Capital Corporation. Address: 1300 Post Oak Boulevard, 8th Floor, Houston, Texas 77056.

Why It Matters

For investors and stakeholders tracking Main Street Capital CORP, this filing contains several important signals. This filing provides detailed information regarding the Annual Meeting of Stockholders, including matters to be voted upon, which is crucial for shareholders to make informed decisions. As a DEF 14A filing, it signifies the final proxy materials being sent to shareholders, indicating that the company is proceeding with its shareholder meeting and related proposals.

Risk Assessment

Risk Level: low — Main Street Capital CORP shows low risk based on this filing. The filing is a routine proxy statement and does not contain new financial performance data or strategic shifts that would inherently increase risk.

Analyst Insight

Review the proxy statement to understand the proposals being voted on at the Annual Meeting of Stockholders and consider voting your shares.

Key Numbers

• 2024-03-25 — Filing Date (DEF 14A filing date)
• 2024-03-25 — Period of Report (Conformed period of report)
• 1231 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

• Main Street Capital Corporation (company) — Registrant Name
• 1300 Post Oak Boulevard, 8th Floor, Houston, Texas 77056 (company) — Business Address
• Securities Exchange Act of 1934 (regulator) — Governing Act
• 2024-03-25 (date) — Filing Date

FAQ

Industry Context

Main Street Capital Corporation operates as a business development company (BDC) providing debt and equity capital to lower middle market companies.

Regulatory Implications

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, which governs the solicitation of proxies from shareholders.

What Investors Should Do

1. Review the full proxy statement for details on voting matters.
2. Understand the company's proposals and executive compensation details.
3. Consider voting your shares based on the information provided.

Key Dates

• 2024-03-25: Filing of Definitive Proxy Statement — Indicates the final proxy materials are being distributed to shareholders for the upcoming annual meeting.

Year-Over-Year Comparison

This is a DEF 14A filing, which is the final proxy statement distributed to shareholders. Previous filings may include preliminary proxy statements or other related documents.

Key Financial Figures

• $26 billion — are delivery systems with approximately $26 billion in annual revenue. Headquartered in Pit

Filing Documents

• main-20240325.htm (DEF 14A) — 651KB
• main-20240325_g1.jpg (GRAPHIC) — 377KB
• main-20240325_g2.jpg (GRAPHIC) — 4KB
• main-20240325_g3.jpg (GRAPHIC) — 3KB
• main-20240325_g4.jpg (GRAPHIC) — 3KB
• main-20240325_g5.jpg (GRAPHIC) — 339KB
• main-20240325_g6.jpg (GRAPHIC) — 125KB
• 0001396440-24-000063.txt (&nbsp;) — 3289KB
• main-20240325.xsd (EX-101.SCH) — 4KB
• main-20240325_def.xml (EX-101.DEF) — 5KB
• main-20240325_lab.xml (EX-101.LAB) — 8KB
• main-20240325_pre.xml (EX-101.PRE) — 5KB
• main-20240325_htm.xml (XML) — 78KB

Executive Compensation Recovery, or "Clawback"

Executive Compensation Recovery, or "Clawback" 14 Responsible Investment and Community Involvement 15 COMPENSATION OF DIRECTORS 16 Director Compensation Table 16 OFFICERS 18 COMPENSATION DISCUSSION AND ANALYSIS 21 Compensation Philosophy and Objectives 21 Independent Compensation Consultant 22 Assessment of Market Data 22 Assessment of Company Performance 22

Executive Compensation Components

Executive Compensation Components 23 Potential Payments Upon Change in Control or Termination of Employment 25 1940 Act Restrictions on Company Performance Based Compensation 25 Tax Deductibility of Compensation 26 Stockholder Advisory Vote on Executive Compensation 26 202 3 Compensation Determination 26 Risk Management and Compensation Policies and Practices 29 COMPENSATION COMMITTEE REPORT 30 COMPENSATION OF EXECUTIVE OFFICERS 31 Summary Compensation Table 31 Grants of Plan-Based Awards 31 Outstanding Equity Awards at Fiscal Year-End 32 Equity Awards Vested in Fiscal Year 33 Nonqualified Deferred Compensation 33 Potential Payments Upon Change in Control or Termination of Employment 34 Chief Executive Officer Pay Ratio 34 "Pay Versus Performance" 34

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 37 AUDIT COMMITTEE REPORT 39 RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR YEAR ENDING DECEMBER 31, 2024 (ITEM 2) 40 ADVISORY VOTE ON EXECUTIVE COMPENSATION (ITEM 3) 41 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 42 External Investment Advisory Clients 42 Investment Transactions 43 INVESTMENT ADVISOR, ADMINISTRATOR AND PRINCIPAL UNDERWRITER 43 DELINQUENT SECTION 16(a) REPORTS 44 STOCKHOLDERS' PROPOSALS 44 PRIVACY NOTICE 45 Table of Contents 1300 Post Oak Boulevard, 8 th Floor Houston, Texas 77056 PROXY STATEMENT 2024 ANNUAL MEETING OF STOCKHOLDERS GENERAL INFORMATION This proxy statement and accompanying proxy card is being mailed to the stockholders of Main Street Capital Corporation ("Main Street," the "Company," "we," "us," or "our") beginning on March 25, 2024. Our Board of Directors (the "Board") is soliciting your proxy to vote your shares at our 2024 Annual Meeting of Stockholders (the "Annual Meeting") to be held on May 6, 2024 at Hotel Emma, Cellar J, 136 East Grayson, San Antonio, Texas 78215, at 9:00 AM local time. The Company will bear all expenses incurred in connection with this proxy solicitation, which we expect to conduct primarily by mail. In addition, our officers and regular employees may solicit your proxy by telephone, by electronic means or in person, for which they will not be separately compensated. If your shares are held through a broker or other nominee ( i.e. , in "street name"), we have requested that your broker or nominee forward this proxy statement to you and obtain your voting instructions, for which the Company will reimburse them for reasonable out-of-pocket expenses. The Securities and Exchange Commission (the "SEC") has adopted rules that permit companies and intermediaries, such as brokers, to satisfy the delivery requirements for proxy statements and annual reports with respect t

View Full Filing

View this DEF 14A filing on SEC EDGAR