Chicago Atlantic BDC director McCauley resigns
Chicago Atlantic BDC, Inc. reported that director Patrick McCauley resigned from its board on April 10, 2026, effective immediately, to pursue other opportunities.
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.
Positive
- None.
Negative
- None.
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
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.
