Hercules Capital adds Alfred Fichera to board
Hercules Capital, Inc. reported that its Board of Directors increased in size from seven to eight members and elected Alfred B. Fichera, age 67, as an independent Class I director, effective September 17, 2026, with a term expiring in 2029.
Rhea-AI Filing Summary
Hercules Capital, Inc. reported that its Board of Directors increased in size from seven to eight members and elected Alfred B. Fichera, age 67, as an independent Class I director, effective September 17, 2026, with a term expiring in 2029. The Board and its committees determined he is independent under New York Stock Exchange standards and not an “interested person” under Section 2(a)(19) of the Investment Company Act of 1940. He will receive the standard cash and equity compensation for non-employee directors and has entered into an indemnification agreement with the company.
Fichera will serve on the Audit Committee. He worked at KPMG LLP from 1982 until 2019, including as Global Head of Alternative Investments and as an audit partner for nearly 25 years, and since 2021 has served as an expert witness on valuation, board governance and SEC filings. Since September 2025, he has been an independent director and audit committee chair of Warburg Pincus Access Fund, L.P. Hercules highlighted in its press release that, since inception in December 2003, it has committed more than $28 billion to over 700 companies and that its common stock trades under “HTGC,” with a 6.25% Notes due 2033 issuance trading under “HCXY.”
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8-K Event Classification
3 items: 5.02, 8.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Board size after change: 8 directors
Director term expiry: 2029
Age of new director: 67 years
+5 more
8 metrics
Board size after change
8 directors
Board increased from seven to eight directors on September 17, 2026
Director term expiry
2029
Alfred B. Fichera will serve as a Class I director with term expiring in 2029
Age of new director
67 years
Age of Alfred B. Fichera at the time of appointment
Notes coupon rate
6.25%
Coupon on Hercules Capital’s Notes due 2033 trading under HCXY
Notes maturity year
2033
Maturity year of Hercules Capital’s 6.25% Notes
Total commitments since inception
$28 billion
Cumulative capital committed since December 2003 to portfolio companies
Number of companies financed
over 700 companies
Borrowers to which Hercules Capital has committed capital since inception
Service at KPMG
1982–2019
Years Alfred B. Fichera served in various roles at KPMG LLP
Key Terms
independent director, Audit Committee, Investment Company Act of 1940, Investment Advisers Act of 1940, +2 more
6 terms
independent director regulatory
"elected Alfred B. Fichera as an independent director of the Company"
An independent director is a member of a company's board of directors who is not involved in the company's day-to-day operations and has no significant relationships with the company that could influence their judgment. Their role is to provide unbiased oversight and ensure the company is managed in the best interests of all shareholders. This helps build trust and confidence among investors by promoting transparency and accountability.
Audit Committee regulatory
"Mr. Fichera will hold office as a Class I director ... and will serve on the Company’s Audit Committee"
A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.
Investment Company Act of 1940 regulatory
"not an “interested person” under Section 2(a)(19) of the Investment Company Act of 1940"
A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.
Investment Advisers Act of 1940 regulatory
"registered as an investment adviser under the Investment Advisers Act of 1940"
A U.S. federal law that sets rules for people and firms who give investment advice, requiring them to register with regulators, be honest about conflicts, keep records, and follow basic standards of care. It matters to investors because those rules act like licensing and consumer protections — similar to having safety standards for a mechanic — helping ensure advisers act in clients’ financial interests and reducing the risk of fraud or misuse of funds.
senior secured venture growth loans financial
"focused on providing senior secured venture growth loans to high-growth, innovative venture capital-backed companies"
forward-looking statements regulatory
"This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What board change did Hercules Capital (HCXY/HTGC) announce on September 17, 2026?
Hercules Capital’s Board of Directors increased in size from seven to eight members and elected Alfred B. Fichera as an independent Class I director, effective September 17, 2026, with his term expiring in 2029.
Is Alfred B. Fichera considered independent under NYSE and investment company rules for HTGC?
Yes. The Board and its relevant committees determined that Alfred B. Fichera qualifies as an independent director under New York Stock Exchange listing standards and is not an “interested person” under Section 2(a)(19) of the Investment Company Act of 1940.
What role will Alfred B. Fichera have on Hercules Capital’s board committees?
Alfred B. Fichera will serve on Hercules Capital’s Audit Committee. The filing also notes his prior experience as chair of the audit committee of Warburg Pincus Access Fund, L.P. since September 2025.
What is Alfred B. Fichera’s professional background relevant to Hercules Capital (HTGC)?
Alfred B. Fichera worked at KPMG LLP from 1982 to 2019, including as Global Head of Alternative Investments and as an audit partner for nearly 25 years. Since 2021, he has served as an expert witness on valuation, board governance and SEC filings.
How large is Hercules Capital’s historical lending activity mentioned in this 8-K?
Hercules Capital states that since its inception in December 2003, it has committed more than $28 billion to over 700 companies through senior secured venture growth loans across technology and life sciences industries.
Which securities of Hercules Capital are listed and what are their symbols?
Hercules Capital’s common stock trades on the NYSE under the ticker “HTGC”. It also has a retail bond issuance of 6.25% Notes due 2033, which trades on the NYSE under the ticker “HCXY”.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 17, 2026
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File No.) | (I.R.S. Employer Identification No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||
Registrant’s telephone number, including area code: (650 ) 289-3060
Not Applicable
(Former name or address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers | ||||
On September 17, 2026, the Board of Directors (the “Board”) of Hercules Capital, Inc. (the “Company”) increased the size of the Board from seven to eight directors and elected Alfred B. Fichera as an independent director of the Company to fill the vacancy created by the increase.
The Board and its relevant committees have determined that Mr. Fichera qualifies as an independent director under the listing standards of the New York Stock Exchange and is not an “interested person” under Section 2(a)(19) of the Investment Company Act of 1940, as amended. There are no arrangements or understandings between Mr. Fichera and any other persons pursuant to which Mr. Fichera was elected as a director of the Company. There are no transactions in which Mr. Fichera has an interest requiring disclosure under Item 404(a) of Regulation S-K.
Mr. Fichera will be entitled to the applicable annual retainer and restricted stock awards pursuant to the Company’s director compensation arrangements for non-employee directors, under terms consistent with those previously disclosed by the Company. Mr. Fichera has also entered into an indemnification agreement with the Company. Mr. Fichera will hold office as a Class I director for a term expiring in 2029 and will serve on the Company’s Audit Committee.
Mr. Fichera, age 67, served in various capacities for KPMG LLP, a global professional services firm, from 1982 until his retirement in 2019, including as Global Head of Alternative Investments, National Asset Management Leader, National Partner-in-Charge of Alternative Investments, and as an audit partner for nearly 25 years. Since 2021, Mr. Fichera has served as an expert witness for asset management organizations involving matters including valuation, board governance and Securities and Exchange Commission filings. Since September 2025, Mr. Fichera has served as an independent director and chair of the audit committee of Warburg Pincus Access Fund, L.P. Mr. Fichera also serves on several non-profit boards and councils. Mr. Fichera holds a B.S. degree in Accounting from Merrimack College and is a licensed certified public accountant (inactive) in New York and Massachusetts.
| Item 8.01. | Other Events | ||||
On September 17, 2026, the Company issued a press release announcing the appointment of Mr. Fichera as an independent member of the Board. A copy of the press release is attached as an exhibit to this Current Report on Form 8-K.
| Item 9.01. | Financial Statements and Exhibits | ||||
(d) Exhibits.
| Number | Exhibit | |||||||
| 99.1 | Press Release dated September 17, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| HERCULES CAPITAL, INC. | ||||||||||||||||||||
| September 17, 2026 | ||||||||||||||||||||
| By: | /s/ Kiersten Zaza Botelho | |||||||||||||||||||
| Kiersten Zaza Botelho | ||||||||||||||||||||
| Chief Legal Officer | ||||||||||||||||||||
Exhibit 99.1
Hercules Capital Announces the Appointment of Alfred B. Fichera to Its Board of Directors
SAN MATEO, Calif., September 17, 2026 – Hercules Capital, Inc. (NYSE: HTGC) (“Hercules,” “Hercules Capital,” or the “Company”), the largest and leading specialty financing provider to innovative venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that Alfred B. Fichera was appointed to serve as an independent member of its board of directors, effective September 17, 2026. Mr. Fichera is an experienced audit and accounting professional and board director with more than 40 years across the financial services and asset management industries.
Mr. Fichera will serve on the Company’s Audit Committee.
“As we continue to expand and scale our platform, Al’s deep industry experience and financial expertise will be a valuable addition to our Board of Directors,” said Scott Bluestein, chief executive officer and chief investment officer of Hercules. “We are pleased to welcome Al to our board and look forward to his contributions.”
Mr. Fichera served in various capacities for KPMG LLP from 1982 until his retirement in 2019, including as Global Head of Alternative Investments, National Asset Management Leader, National Partner-in-Charge of Alternative Investments, and as an Audit Partner for nearly 25 years. Since 2021, Mr. Fichera has served as an expert witness for asset management organizations involving matters including valuation, board governance and SEC filings. Mr. Fichera serves on several non-profit boards and councils, and acts as a speaker, moderator and panelist on a variety of conferences relating to audit and accounting matters.
Since September 2025, Mr. Fichera has served as an independent director and chair of the audit committee of Warburg Pincus Access Fund, L.P.
Mr. Fichera holds a BS in Accounting from Merrimack College and is a licensed CPA (inactive) in New York and Massachusetts.
About Hercules Capital, Inc.
Hercules Capital, Inc. (NYSE: HTGC) is the leading and largest specialty finance company focused on providing senior secured venture growth loans to high-growth, innovative venture capital-backed companies in a broad variety of technology and life sciences industries. Since inception (December 2003), Hercules has committed more than $28 billion to over 700 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing. Companies interested in learning more about financing opportunities should contact info@htgc.com, or call (650) 289-3060.
Exhibit 99.1
Hercules, through its wholly owned subsidiary business, Adviser Subsidiary, also maintains an asset management business through which it manages investments for external parties (“Adviser Funds”). The Adviser Subsidiary is registered as an investment adviser under the Investment Advisers Act of 1940.
Hercules’ common stock trades on the New York Stock Exchange (NYSE) under the ticker symbol “HTGC.” In addition, Hercules has one retail bond issuance of 6.25% Notes due 2033 (NYSE: HCXY).
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. We may use words such as “anticipates,” “believes,” “expects,” “intends,” “will,” “should,” “may” and similar expressions to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and should not be relied upon in making any investment decision. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations. While we cannot identify all such risks and uncertainties, we urge you to read the risks discussed in our Annual Report on Form 10-K and other materials that we publicly file with the Securities and Exchange Commission. Any forward-looking statements made in this press release are made only as of the date hereof. Hercules assumes no obligation to update any such statements in the future.
Contact:
Michael Hara
Investor Relations and Corporate Communications
Hercules Capital, Inc.
(650) 433-5578
mhara@htgc.com