Item 1.01. Entry into a Material Definitive Agreement.

On April 12, 2022, Gladstone Capital Corporation (the "Company") amended and restated its existing advisory agreement, as amended (the "Agreement"), with Gladstone Management Corporation, a registered investment adviser (the "Adviser"), by entering into the Fourth Amended and Restated Investment Advisory and Management Agreement between the Company and the Adviser (the "Amended Agreement"). The Company's entrance into the Amended Agreement was approved unanimously by its board of directors (the "Board"), including, specifically, its independent directors.

The Amended Agreement maintains the temporary revised higher "hurdle rate" included in the calculation of the Incentive Fee at 2% per quarter (8% annualized) for the period beginning April 1, 2022 through March 31, 2023. Such revised "hurdle rate" initially went into effect on April 1, 2020.

The Amended Agreement maintains the revised "hurdle rate" of 2.00% per quarter (8% annualized), which has been in effect since April 1, 2020, and increases the excess Incentive Fee hurdle from 2.1875% per quarter (8.75% annualized) to 2.50% per quarter (10.00% annualized), up from the 2.4375% per quarter (9.75% annualized) in effect since April 1, 2020.

The calculation of the other fees in the Advisory Agreement remain unchanged. The revised Incentive Fee calculations will begin with the fee calculations for the quarter ending June 30, 2022. All other terms of the Agreement remained the same. All capitalized terms not defined in this Current Report on Form 8-K are defined in the Amended Agreement.

The description above is only a summary of the material provisions of the Amended Agreement and is qualified in its entirety by reference to a copy of the Amended Agreement, which will be filed with the Company's next periodic report.

Item 7.01. Regulation FD Disclosure.

On April 12, 2022, the Company issued a press release, filed herewith as Exhibit 99.1, announcing that its board of directors declared monthly cash distributions for its common stock for each of April, May and June 2022.

The information disclosed under this Item 7.01, including Exhibit 99.1 hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, except as expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.



(d) Exhibits.

Exhibit No.       Description

99.1                Press Release issued by Gladstone Capital Corporation on
                  April 12, 2022.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses