Chicago Atlantic BDC director McCauley resigns

Q: What did Chicago Atlantic BDC (LIEN) disclose in this 8-K filing?

Chicago Atlantic BDC disclosed that director Patrick McCauley resigned from its board on April 10, 2026. The company noted his decision was to pursue other opportunities and was not due to any disagreement over operations, policies, or practices.

Q: Why did director Patrick McCauley resign from Chicago Atlantic BDC (LIEN)?

Director Patrick McCauley resigned from the board to pursue other opportunities. The company stated that in submitting his resignation, he did not express any disagreement on matters related to Chicago Atlantic BDC’s operations, policies, or practices.

Q: Did Patrick McCauley cite any disagreements with Chicago Atlantic BDC (LIEN)?

No, the filing states that Patrick McCauley did not express any disagreement regarding the company’s operations, policies, or practices. His resignation from the board was described as being to pursue other opportunities rather than arising from a dispute.

Q: How is Chicago Atlantic BDC’s board structured after McCauley’s resignation?

Following Patrick McCauley’s resignation, the board of Chicago Atlantic BDC, Inc. consists of five members. Of these, four are independent directors, meaning a substantial majority of the board remains independent under applicable standards.

Q: Who signed the Chicago Atlantic BDC (LIEN) 8-K reporting the director resignation?

The 8-K reporting Patrick McCauley’s resignation was signed on behalf of Chicago Atlantic BDC, Inc. by Thomas Geoffroy, who is identified in the document as the company’s Interim Chief Financial Officer as of April 13, 2026.

Q: On what date did Chicago Atlantic BDC (LIEN) accept the director’s resignation?

The company reported that Patrick McCauley notified the board on April 10, 2026 that he was resigning as a director. His resignation was described as being effective immediately as of that notification date.

Chicago Atlantic BDC, Inc. reported that director Patrick McCauley resigned from its board on April 10, 2026, effective immediately, to pursue other opportunities.

Filing Impact

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Filing Sentiment

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Form Type

8-K

Rhea-AI Filing Summary

Chicago Atlantic BDC, Inc. reported that director Patrick McCauley resigned from its board on April 10, 2026, effective immediately, to pursue other opportunities. He stated that his resignation was not due to any disagreement regarding the company’s operations, policies or practices.

After his departure, the board consists of five members, including four independent directors, which maintains a predominantly independent board structure. The filing was signed by Interim Chief Financial Officer Thomas Geoffroy on behalf of the company.

8-K Event Classification

2 items: 5.02, 9.01

2 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 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Resignation date: April 10, 2026 Board size after resignation: 5 members Independent directors: 4 members +2 more

5 metrics

Resignation date April 10, 2026 Date Patrick McCauley notified the board and resignation became effective

Board size after resignation 5 members Board composition following Patrick McCauley’s departure

Independent directors 4 members Number of independent directors on the five-member board after resignation

Company address ZIP code 10022 ZIP code for principal executive offices at 600 Madison Avenue, Suite 1800, New York

Par value per share $0.01 Par value of Chicago Atlantic BDC common stock

Key Terms

Emerging growth company, Independent, Item 5.02 Departure of Directors or Certain Officers, Inline XBRL, +1 more

5 terms

Emerging growth company regulatory

"Emerging growth company Item 5.02 Departure of Directors or Certain Officers"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

Independent financial

"Following his resignation, the Board consists of five members, four of whom are independent."

Item 5.02 Departure of Directors or Certain Officers regulatory

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

Inline XBRL technical

"Cover Page Interactive Data File (embedded within the Inline XBRL document)"

Inline XBRL is a file format for financial filings that embeds machine-readable data tags directly inside the human-readable report, so the same document can be read by people and parsed by software. For investors it makes extracting, comparing and verifying financial numbers faster and more reliable—like a grocery list where each item also has a barcode—reducing manual errors and speeding up analysis.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Chicago Atlantic BDC (LIEN) disclose in this 8-K filing?

Chicago Atlantic BDC disclosed that director Patrick McCauley resigned from its board on April 10, 2026. The company noted his decision was to pursue other opportunities and was not due to any disagreement over operations, policies, or practices.

Why did director Patrick McCauley resign from Chicago Atlantic BDC (LIEN)?

Director Patrick McCauley resigned from the board to pursue other opportunities. The company stated that in submitting his resignation, he did not express any disagreement on matters related to Chicago Atlantic BDC’s operations, policies, or practices.

Did Patrick McCauley cite any disagreements with Chicago Atlantic BDC (LIEN)?

No, the filing states that Patrick McCauley did not express any disagreement regarding the company’s operations, policies, or practices. His resignation from the board was described as being to pursue other opportunities rather than arising from a dispute.

How is Chicago Atlantic BDC’s board structured after McCauley’s resignation?

Following Patrick McCauley’s resignation, the board of Chicago Atlantic BDC, Inc. consists of five members. Of these, four are independent directors, meaning a substantial majority of the board remains independent under applicable standards.

Who signed the Chicago Atlantic BDC (LIEN) 8-K reporting the director resignation?

The 8-K reporting Patrick McCauley’s resignation was signed on behalf of Chicago Atlantic BDC, Inc. by Thomas Geoffroy, who is identified in the document as the company’s Interim Chief Financial Officer as of April 13, 2026.

On what date did Chicago Atlantic BDC (LIEN) accept the director’s resignation?

The company reported that Patrick McCauley notified the board on April 10, 2026 that he was resigning as a director. His resignation was described as being effective immediately as of that notification date.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/13/2026 - 08:30 PM EDT

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): April 13, 2026 (April 10, 2026)

Chicago Atlantic BDC, Inc.

(Exact name of Registrant as Specified in Its Charter)

Maryland		001-40564		86-2872887
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

600 Madison Avenue, Suite 1800 New York, New York		10022
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: 312 625-9295

Not Applicable

(Former Name or Former 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:

☐	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

Common Stock, $0.01 par value per share

LIEN

The Nasdaq Stock Market LLC

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 April 10, 2026, Patrick McCauley notified the board of directors (the “Board”) of Chicago Atlantic BDC, Inc. (the “Company”) that he was resigning as a director of the Board, effective immediately, in order to pursue other opportunities. In submitting his resignation, Mr. McCauley did not express any disagreement on any matter relating to the Company’s operations, policies or practices. Following his resignation, the Board consists of five members, four of whom are independent.

Item 9.01 Financial Statements and Exhibits.

d) Exhibits

Exhibit Number		Description

104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

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.

	CHICAGO ATLANTIC BDC, INC.

Date: April 13, 2026	By:	/s/ Thomas Geoffroy
		Interim Chief Financial Officer

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

3 documents