Kayne Anderson BDC director Albert Rabil resigns
Kayne Anderson BDC, Inc. reported that Albert Rabil III resigned from its Board of Directors effective immediately on June 29, 2026.
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Form Type
8-K
Rhea-AI Filing Summary
Kayne Anderson BDC, Inc. reported that Albert Rabil III resigned from its Board of Directors effective immediately on June 29, 2026. He was an “interested” director under the Investment Company Act of 1940 due to his employment with Kayne Anderson Capital Advisors, L.P.
His Class III board term would otherwise have run until the 2029 annual stockholder meeting. The company states that his resignation was not due to any disagreement regarding operations, policies, or practices. After his departure, the Board consists of six directors, including four Independent Directors who are not “interested” persons under the 1940 Act.
8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
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.
Key Figures
Effective resignation date: June 29, 2026
Class term end: 2029 annual meeting
Post-resignation board size: 6 directors
+1 more
4 metrics
Effective resignation date
June 29, 2026
Albert Rabil III resignation effective date
Class term end
2029 annual meeting
Original scheduled end of Class III director term
Post-resignation board size
6 directors
Board composition after Albert Rabil III resignation
Independent directors count
4 directors
Independent Directors on Board after resignation
Key Terms
interested director, Independent Directors, Investment Company Act of 1940, Board of Directors
4 terms
interested director regulatory
"Mr. Rabil was an “interested” director of the Company under the Investment Company Act of 1940"
Independent Directors regulatory
"the Board is comprised of six directors, four of whom are Independent Directors"
Members of a company’s board who do not have significant business, family, or financial ties to the company and are not part of its management; they are chosen to provide impartial oversight of strategy, financial reporting, executive pay and risk. They matter to investors because independent directors act like an objective referee, helping ensure decisions favor shareholders’ long-term interests rather than insiders, which can strengthen trust and reduce the chance of mismanagement or conflicts of interest.
Investment Company Act of 1940 regulatory
"an “interested” director of the Company under the Investment Company Act of 1940, as amended"
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.
Board of Directors financial
"resign from the Board of Directors of the Company"
The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Kayne Anderson BDC, Inc. (KBDC) disclose in this 8-K filing?
Kayne Anderson BDC, Inc. disclosed that director Albert Rabil III resigned from its Board effective immediately on June 29, 2026. The filing notes his prior status as an “interested” director and confirms his resignation was not due to any disagreement with the company’s operations or policies.
Who is Albert Rabil III and what was his role at Kayne Anderson BDC (KBDC)?
Albert Rabil III served on the Board of Directors of Kayne Anderson BDC, Inc. as a Class III director. He was considered an “interested” director under the Investment Company Act of 1940 because of his employment relationship with Kayne Anderson Capital Advisors, L.P., an affiliated adviser.
When did Albert Rabil III’s board term at KBDC originally expire?
Albert Rabil III was designated as a Class III director at Kayne Anderson BDC, Inc., with a term that would have expired at the 2029 annual meeting of stockholders. His resignation on June 29, 2026 ended that term early, prior to the originally scheduled expiration date.
Did Albert Rabil III cite any disagreements with KBDC as the reason for resigning?
No. The filing states that Albert Rabil III confirmed his decision to resign was not due to any disagreement with Kayne Anderson BDC, Inc. on matters relating to the company’s operations, policies, or practices. This language is meant to clarify there were no disclosed disputes leading to his departure.
How is the Kayne Anderson BDC (KBDC) Board composed after the resignation?
Following Albert Rabil III’s resignation, Kayne Anderson BDC, Inc.’s Board consists of six directors. Four of these are described as Independent Directors, meaning they are not “interested” persons of the company under the Investment Company Act of 1940, which governs investment companies’ governance standards.
Was Albert Rabil III serving on any KBDC board committees at the time of resignation?
No. The filing notes that at the time of his resignation, Albert Rabil III did not serve on any committees of the Board of Directors. His departure therefore affects the overall board composition but not the membership of specific standing board committees, according to the company’s disclosure.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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