On July 12, 2021, Carol L. Foster notified the Chairman of the Board of Directors of Hercules Capital, Inc. of her decision to resign, effective immediately, from her position as a member of the Board. Ms. Foster's resignation was due to personal reasons and did not result from any disagreements with management or the Board. Ms. Foster was a Class I director of the Company and also served on the Company's Audit Committee and Nominating and Corporate Governance Committee.