Skip to main content

SURO CAPITAL CORP

For the period ended Apr 18, 2024. Filed Apr 18, 2024.

View on SEC.gov

About this filing

What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.

Apr 18, 2024 · Filed Apr 18, 2024

NSLR$5.76+2.9%Stored close · as of Nov 6, 2026
See the whole filing, with its images and exhibits
Contents

Cover page

Show cover page

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of

the Securities Exchange Act of 1934 (Amendment No. )

Filed by the Registrant ☒
Filed by a Party other than the Registrant ☐
Check the appropriate box:
☐Preliminary Proxy Statement
☐Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☒Definitive Proxy Statement
☐Definitive Additional Materials
☐Soliciting Material under §240.14a-12
SuRo Capital Corp.
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check all boxes that apply):
☒No fee required.
☐Fee paid previously with preliminary materials.
☐Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14(a)-6(i)(1) and 0-11.

SURO CAPITAL CORP.

640 Fifth Avenue, 12th Floor

Dear Stockholder:

You are cordially invited to attend the 2024 Annual Meeting of Stockholders (the “Annual Meeting”) of SuRo Capital Corp. (the “Company”) to be held on June 5, 2024 at 9:00 a.m., Eastern Time, at the office of Eversheds Sutherland (US) LLP, The Grace Building, 1114 Sixth Avenue, 40th Floor, New York, New York 10036.

The notice of annual meeting and the proxy statement (the “Proxy Statement”) accompanying this letter provide an outline of the business to be conducted at the Annual Meeting. At the Annual Meeting, you will be asked to: (i) re-elect one member of the board of directors of the Company (the “Board”), who will serve for a term of three years and until his successor is duly elected and qualified; (ii) provide an advisory vote on executive compensation; (iii) ratify the selection of Marcum LLP to serve as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024; and (iv) transact such other business as may properly come before the Annual Meeting or any postponement or adjournment thereof. Details of the business to be conducted at the Annual Meeting are set forth in the accompanying Notice of 2024 Annual Meeting of Stockholders and Proxy Statement.

The Company’s Board unanimously recommends that you vote FOR each of the proposals to be considered and voted on at the Annual Meeting.

The Company has elected to provide access to its proxy materials to certain of its stockholders over the internet under the U.S. Securities and Exchange Commission’s “notice and access” rules. On or about April 18, 2024, the Company intends to mail to most of its stockholders a Notice of Internet Availability of Proxy Materials containing instructions on how to access the Proxy Statement and the annual report on Form 10-K for the year ended December 31, 2023 (the “Annual Report”), and how to submit proxies by telephone or through the internet. All other stockholders will receive a copy of the Proxy Statement and the Annual Report by mail. The Notice of Internet Availability of Proxy Materials also contains instructions on how you can elect to receive a printed copy of the Proxy Statement and the Annual Report. The Company believes that providing its proxy materials over the internet will expedite stockholders’ receipt of proxy materials, lower the costs associated with the Annual Meeting and conserve resources.

It is important that your shares of the Company’s common stock be represented at the Annual Meeting. If you are unable to attend the Annual Meeting in person, I urge you to complete, date and sign the enclosed proxy card and promptly return it in the envelope provided, vote your shares by telephone, or vote via the internet in accordance with the instructions printed on the Notice of Internet Availability of Proxy Materials or the proxy card. You will be able to vote electronically atwww.proxyvote.comor by calling 1-800-690-6903. Your vote and participation in the governance of the Company are very important.

Sincerely yours,

/s/ Mark D. Klein

Mark D. Klein

Chairman, Chief Executive Officer and President

**SURO CAPITAL CORP.

**640 Fifth Avenue, 12th Floor

(212) 931-6331

**NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

TO BE HELD ON JUNE 5, 2024

To the Stockholders of SuRo Capital Corp.:

NOTICE IS HEREBY GIVEN THAT the 2024 Annual Meeting of Stockholders (the “Annual Meeting”) of SuRo Capital Corp. (the “Company”) will be held on June 5, 2024 at 9:00 a.m., Eastern Time, at the office of Eversheds Sutherland (US) LLP, The Grace Building, 1114 Sixth Avenue, 40th Floor, New York, New York 10036.

The Annual Meeting will be held for the following purposes:

1.To re-elect one member of the board of directors of the Company (the “Board”), who will serve for a term of three years and until his successor is duly elected and qualified;
2.To provide an advisory vote on executive compensation;
3.To ratify the selection of Marcum LLP to serve as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024; and
4.To transact such other business as may properly come before the Annual Meeting or any postponement or adjournment thereof.

You have the right to receive notice of and to vote at the Annual Meeting if you were a stockholder of record at the close of business on April 17, 2024 (the “Record Date”). Regardless of whether you expect to be present in person at the Annual Meeting, please sign the enclosed proxy and return it promptly in the self-addressed envelope provided, or register your vote by telephone or through the internet. You must have your control number, found on your proxy card or Notice of Internet Availability of Proxy Materials, in order to vote. Prior to the Annual Meeting, you may vote your shares electronically atwww.proxyvote.comor by calling 1-800-690-6903. Instructions are shown on the proxy card and the Notice of Internet Availability of Proxy Materials. In the event there are not sufficient votes for a quorum or to approve or ratify any of the foregoing proposals at the time of the Annual Meeting, the Annual Meeting may be adjourned in order to permit further solicitation of proxies by the Company.

**Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting of Stockholders to Be Held on June 5, 2024.**The proxy statement (the “Proxy Statement”) and our annual report on Form 10-K for the fiscal year ended December 31, 2023 (the “Annual Report”) are available on the internet at*https://investors.surocap.com/financial-information/sec-filings.*The Notice of Internet Availability of Proxy Materials contains instructions on how you can elect to receive a printed copy of the Proxy Statement and the Annual Report free of charge.

The following information applicable to the Annual Meeting may be found in the Proxy Statement and/or accompanying proxy card:

●The date, time and location of the meeting;
●A list of the matters intended to be acted on and our recommendations regarding those matters;
●Any control/identification numbers that you need to access your proxy card; and
●Information about attending the meeting and voting in person.

If you are unable to participate in the meeting, we urge you to follow the instructions printed on the Notice of Internet Availability of Proxy Materials or the proxy card to authorize a proxy vote by telephone or through the internet, or complete, date and sign the enclosed proxy card and promptly return it in the envelope provided.

By Order of the Board of Directors,

/s/ Allison Green

Allison Green

Corporate Secretary

New York, New York

This is an important meeting. To ensure proper representation at the Annual Meeting, stockholders are requested to promptly authorize a proxy vote by telephone or through the internet, or execute and return promptly the accompanying proxy card, which is being solicited by the Board. You may authorize a proxy by telephone or through the internet by following the instructions in the Notice of Internet Availability of Proxy Materials or the proxy card. You may execute the proxy card using the methods described in the proxy card. Executing the proxy card is important to ensure a quorum at the Annual Meeting. Proxies may be revoked at any time before they are exercised by submitting a written notice of revocation or a subsequently executed proxy, or by participating in the Annual Meeting and voting.

PROXY STATEMENT FOR 2024 ANNUAL MEETING OF STOCKHOLDERS

TABLE OF CONTENTS

Page
NOTICE OF ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON JUNE 5, 20242
PROXY STATEMENT4
Purpose of Meeting5
Record Date5
Quorum Required5
Broker Non-Votes5
Vote Required6
Information Regarding This Solicitation6
Notice of Internet Availability of Proxy Materials7
Electronic Delivery of Proxy Materials7
Security Ownership of Certain Beneficial Owners and Management8
Delinquent Section 16(a) Reports9
PROPOSAL I: ELECTION OF DIRECTOR10
Information about the Director-Nominee and Directors10
Interested Director11
Independent Directors11
Information about the Executive Officers Who Are Not Directors13
Board Diversity Matrix13
CORPORATE GOVERNANCE14
Director Independence14
Board Leadership Structure14
Board of Directors’ Role in Risk Oversight15
Committees of the Board of Directors15
Communication with the Board of Directors18
Hedging, Speculative Trading and Pledging of Securities18
Code of Business Conduct and Ethics18
COMPENSATION OF DIRECTORS19
COMPENSATION DISCUSSION AND ANALYSIS20
Compensation Philosophy and Objectives20
Independent Compensation Consultant20
Assessment of Market Data21
Assessment of Company Performance21
Stockholder Advisory Vote on Executive Compensation22
Executive Compensation Components22
Risk Management and Compensation Policies and Practices25
Employment Agreements26
1940 Act Restrictions on Company Performance Based Compensation29
Tax Deductibility of Compensation30
Conclusion30
COMPENSATION COMMITTEE REPORT31
COMPENSATION OF EXECUTIVE OFFICERS32
Summary Compensation Table32
Grants of Plan-Based Awards33
Outstanding Equity Awards at Fiscal Year End33
Equity Awards Vested in Fiscal Year34
Potential Payments Upon Change in Control or Termination of Employment34
Chief Executive Officer Pay Ratio36
Pay Versus Performance Table36
RELATED PARTY TRANSACTIONS AND CERTAIN RELATIONSHIPS40
PROPOSAL II: ADVISORY VOTE ON EXECUTIVE COMPENSATION41
PROPOSAL III: RATIFICATION OF SELECTION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM42
AUDIT COMMITTEE REPORT43
Pre-Approval Policies and Procedures43
Review with Management43
Review and Discussion with Independent Registered Public Accounting Firm43
Conclusion44
OTHER BUSINESS45
SUBMISSION OF STOCKHOLDER PROPOSALS46
PRIVACY NOTICE47
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.