Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 9, 2022, Jonathan Bock notified Barings BDC, Inc. (the "Company") that he will step down as the Company's Chief Executive Officer, effective as of the close of business on December 16, 2022, to pursue other business opportunities. Mr. Bock's resignation is not a result of any disagreement with the Company on any matter relating to its operations, policies, or practices, or to any issues regarding its accounting policies or practices.

Mr. Bock joined Barings LLC ("Barings") in 2018 to serve as Chief Financial Officer of the Company in connection with the externalization of Triangle Capital Corporation. In August 2022, Mr. Bock was appointed to be the Chief Executive Officer of Barings BDC, Inc. Throughout his time with Barings, Mr. Bock was a meaningful partner to our BDC team as well as our broader investment teams. Barings and the Board of the Company thank him for his efforts and wish him the best for the future.

On December 14, 2022, the Company's Board of Directors appointed Eric Lloyd as Chief Executive Officer of the Company, effective as of the close of business on December 16, 2022.

Item 9.01. Financial Statements and Exhibits.



(d) Exhibits
Exhibit No.                Description
104                        Cover Page Interactive Data File (embedded within the Inline XBRL
                           document)

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