Item 5.02 Departure of Directors or Certain Officers; Election of Directors;

Appointment of Certain Officers; Compensatory Arrangements of Certain

Officers.

On January 8, 2022, Caren Merrick notified Gladstone Capital Corporation (the "Company") that she is resigning from the board of directors of the Company effective immediately. Prior to her resignation Ms. Merrick served on the Audit Committee and as the Valuation Committee Chairperson. Ms. Merrick's resignation is in connection with her recent appointment as Secretary of Commerce and Trade for the Commonwealth of Virginia.

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