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

Appointment of Certain Officers; Compensatory Arrangements of Certain

Officers

On January 26, 2023, director Brad Koenig notified the Chairman of the Board of Directors of Hercules Capital, Inc. (the "Company") of his decision to accept a position with the federal government and, as a consequence, resign from his position as a member of the Board, effective as of the close of business on January 27, 2023. Mr. Koenig's resignation from the Board, and from the boards of any other private sector businesses, is a condition of his acceptance of the federal government position and was not a result of any disagreements with management or the Board.

Mr. Koenig was a Class II director of the Company and also served on the Company's Audit Committee and Compensation Committee.

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

© Edgar Online, source Glimpses