Hercules Capital Management

Management criteria checks 2/4

Hercules Capital's CEO is Scott Bluestein, appointed in Apr 2014, has a tenure of 4.75 years. total yearly compensation is $8.89M, comprised of 7.3% salary and 92.7% bonuses, including company stock and options. directly owns 1.42% of the company’s shares, worth €40.61M. The average tenure of the management team and the board of directors is 5.3 years and 3.8 years respectively.

Key information

Scott Bluestein

Chief executive officer

US$8.9m

Total compensation

CEO salary percentage	7.3%
CEO tenure	10yrs
CEO ownership	1.4%
Management average tenure	5.3yrs
Board average tenure	3.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Scott Bluestein's remuneration changed compared to Hercules Capital's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$9m	US$650k	US$334m
Sep 30 2023	n/a	n/a	US$277m
Jun 30 2023	n/a	n/a	US$302m
Mar 31 2023	n/a	n/a	US$197m
Dec 31 2022	US$7m	US$650k	US$100m
Sep 30 2022	n/a	n/a	US$42m
Jun 30 2022	n/a	n/a	US$12m
Mar 31 2022	n/a	n/a	US$105m
Dec 31 2021	US$6m	US$650k	US$172m
Sep 30 2021	n/a	n/a	US$319m
Jun 30 2021	n/a	n/a	US$339m
Mar 31 2021	n/a	n/a	US$318m
Dec 31 2020	US$7m	US$650k	US$226m
Sep 30 2020	n/a	n/a	US$120m
Jun 30 2020	n/a	n/a	US$96m
Mar 31 2020	n/a	n/a	US$83m
Dec 31 2019	US$8m	US$594k	US$173m
Sep 30 2019	n/a	n/a	US$111m
Jun 30 2019	n/a	n/a	US$128m
Mar 31 2019	n/a	n/a	US$132m
Dec 31 2018	US$11m	US$515k	US$76m
Sep 30 2018	n/a	n/a	US$111m
Jun 30 2018	n/a	n/a	US$109m
Mar 31 2018	n/a	n/a	US$90m
Dec 31 2017	US$3m	US$500k	US$78m

Compensation vs Market: Scott's total compensation ($USD8.89M) is above average for companies of similar size in the German market ($USD2.56M).

Compensation vs Earnings: Scott's compensation has increased by more than 20% in the past year.

CEO

Scott Bluestein (45 yo)

10yrs

Tenure

US$8,891,994

Compensation

Mr. Scott Bluestein serves as Chief Executive Officer, President and Director at Hercules Capital, Inc. since July 18, 2019. He is responsible for the Hercules lending policies and risk management practice...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Scott Bluestein	CEO, Chief Investment Officer	10yrs	US$8.89m	1.42% $ 40.6m
Seth Meyer	CFO & Chief Accounting Officer	5.1yrs	US$3.04m	0.22% $ 6.2m
Christian Follmann	Chief Operating Officer	8.3yrs	US$1.21m	0.060% $ 1.7m
Kiersten Botelho	Corporate Secretary	2.3yrs	US$1.08m	0.031% $ 872.2k
Steve Kuo	Senior MD & Group Head of Technology	5.3yrs	no data	no data
Michael Hara	Managing Director of Investor Relations & Corporate Communications	no data	no data	no data
Kate Kinlin	VP of Human Resources	no data	no data	no data
Roy Liu	Managing Director	20yrs	no data	no data
R. Jadot	Senior MD & Group Head of Life Sciences	4.9yrs	no data	no data
Michael Bowden	Managing Director of Portfolio Management	5.3yrs	no data	no data
Janice Bourque	Managing Director	14yrs	no data	no data
Lesya Kulchenko	Managing Director	5.3yrs	no data	no data

5.3yrs

Average Tenure

51yo

Average Age

Experienced Management: 19H's management team is seasoned and experienced (5.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Scott Bluestein	CEO, Chief Investment Officer	4.8yrs	US$8.89m	1.42% $ 40.6m
Gayle Crowell	Independent Director	5.2yrs	US$215.00k	0.030% $ 868.2k
Robert Badavas	Chairman of the Board & Lead Independent Director	18.1yrs	US$310.00k	0.070% $ 2.0m
Pam Randhawa	Independent Director	2.4yrs	US$250.00k	0.0078% $ 223.8k
Nikos Theodosopoulos	Independent Director	less than a year	US$39.99k	0.00060% $ 17.1k
Thomas Fallon	Independent Director	9.8yrs	US$205.00k	0.056% $ 1.6m
Wade Loo	Independent Director	2.8yrs	US$215.00k	0.013% $ 361.0k
DeAnne Aguirre	Independent Board Directors	1.8yrs	US$145.00k	0.0050% $ 142.3k

3.8yrs

Average Tenure

61.5yo

Average Age

Experienced Board: 19H's board of directors are considered experienced (3.8 years average tenure).

Hercules Capital Management

Management criteria checks 2/4

Key information

Recent management updates

Hercules Capital, Inc., Annual General Meeting, Jun 20, 2024

Hercules Capital Appoints Nikos Theodosopoulos an Independent Member of its Board of Directors and to Serve on Audit Committee

Independent Director recently bought €89k worth of stock

Independent Director recently bought €89k worth of stock

Hercules Capital, Inc. Announces Resignation of Brad Koenig as Member of the Board

Hercules Capital, Inc. Appoints Deanne Aguirre to its Board of Directors

Recent updates

Hercules Capital, Inc., Annual General Meeting, Jun 20, 2024

Hercules Capital, Inc. to Report Q1, 2024 Results on May 02, 2024

KARL STORZ SE & Co. KG entered into an agreement to acquire Asensus Surgical, Inc. (NYSEAM:ASXC) for $100 million.

Upcoming dividend of US$0.48 per share

Full year 2023 earnings released: EPS: US$2.34 (vs US$0.80 in FY 2022)

Hercules Capital, Inc. Declares Cash Distribution for the Fourth Quarter 2023, Dividend Payable on March 6, 2024

Haveli Investments Software Fund I, L.P., a fund managed by Haveli Investment Management LLC entered into an Agreement and Plan of Merger to acquire ZeroFox Holdings, Inc. (NasdaqGM : ZFOX) from Monarch Alternative Capital LP and Others for approximately $150 million.

Hercules Capital, Inc. to Report Q4, 2023 Results on Feb 15, 2024

Upcoming dividend of US$0.48 per share at 12% yield

Third quarter 2023 earnings released: EPS: US$0.19 (vs US$0.41 in 3Q 2022)

Hercules Capital, Inc. Declares Total Cash Distribution the Third Quarter 2023, Payable on November 22, 2023

Hercules Capital, Inc. to Report Q3, 2023 Results on Nov 02, 2023

New major risk - Revenue and earnings growth

Hercules Capital Appoints Nikos Theodosopoulos an Independent Member of its Board of Directors and to Serve on Audit Committee

Upcoming dividend of US$0.48 per share at 11% yield

Hercules Capital, Inc. has completed a Follow-on Equity Offering.

New major risk - Revenue and earnings growth

Second quarter 2023 earnings released: EPS: US$0.67 (vs US$0.088 loss in 2Q 2022)

Hercules Capital Declares Cash Distribution for the Second Quarter 2023, Payable August 25, 2023

Hercules Capital, Inc. to Report Q2, 2023 Results on Aug 03, 2023

Hercules Capital, Inc. to Report Q2, 2023 Results on Aug 03, 2023

Independent Director recently bought €89k worth of stock

Independent Director recently bought €89k worth of stock

First quarter 2023 earnings released: EPS: US$0.70 (vs US$0.033 loss in 1Q 2022)

Investor sentiment deteriorates as stock falls 20%

Upcoming dividend of US$0.47 per share at 13% yield

Full year 2022 earnings released: EPS: US$0.80 (vs US$1.50 in FY 2021)

Hercules Capital Increases Its Quarterly Cash Distribution for the Fourth Quarter of 2022, Payable on March 9, 2023

Hercules Capital, Inc. to Report Q4, 2022 Results on Feb 16, 2023

Hercules Capital, Inc. Announces Resignation of Brad Koenig as Member of the Board

Third quarter 2022 earnings released: EPS: US$0.42 (vs US$0.20 in 3Q 2021)

Upcoming dividend of US$0.51 per share

Sumitovant Biopharma Ltd. signed an agreement to acquire a 47.83% stake in Myovant Sciences Ltd for $1.2 billion.

Amgen Inc. (NasdaqGS:AMGN) completed the acquisition of ChemoCentryx, Inc. (NasdaqGS:CCXI) from a group of shareholders.

Hercules Capital, Inc. to Report Q3, 2022 Results on Nov 02, 2022

Hercules Capital, Inc. Declares Cash Distribution for the Third Quarter of 2022, Payable on November 17, 2022

Sumitovant Biopharma Ltd. entered into a non-binding proposal to acquire Myovant Sciences Ltd. (NYSE:MYOV) for $1.2 billion.

Upcoming dividend of US$0.50 per share

Second quarter 2022 earnings released: US$0.083 loss per share (vs US$0.71 profit in 2Q 2021)

Hercules Capital, Inc. Increases Quarterly Cash Distribution for the Second Quarter of 2022, Payable on August 16, 2022

Hercules Capital, Inc. to Report Q2, 2022 Results on Jul 28, 2022

Hercules Capital, Inc. Appoints Deanne Aguirre to its Board of Directors

First quarter 2022 earnings released: US$0.028 loss per share (vs US$0.56 profit in 1Q 2021)

Hercules Capital, Inc. Announces Cash Distribution for the First Quarter of 2022, Payable on May 24, 2022

Hercules Capital, Inc., Annual General Meeting, Jun 23, 2022

Hercules Capital, Inc. to Report Q1, 2022 Results on May 05, 2022

Upcoming dividend of US$0.48 per share

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Hercules Capital Declares Cash Distribution for the Fourth Quarter of 2021, Payable on March 16, 2022

Hercules Capital, Inc. to Report Q4, 2021 Results on Feb 22, 2022

Hercules Capital, Inc. Announces Executive Changes

High number of new directors

High number of new directors

Upcoming dividend of US$0.40 per share

Third quarter 2021 earnings released: EPS US$0.20 (vs US$0.38 in 3Q 2020)

Chief Compliance Officer, General Counsel & Secretary Melanie Grace has left the company

Chief Compliance Officer, General Counsel & Secretary Melanie Grace has left the company

Upcoming dividend of US$0.39 per share

Independent Director Carol Foster has left the company

Thoma Bravo, LLC reached an agreement to acquire Greenphire, Inc. from The Riverside Company, Hercules Capital, Inc. (NYSE:HTGC) and Ares Capital Management LLC.

Key Executive recently sold €291k worth of stock

Hercules Capital, Inc. Announces Dividend for the Year 2021

First quarter 2021 earnings released: EPS US$0.56 (vs US$0.27 loss in 1Q 2020)

Hercules Capital Announces Supplemental Cash Distribution for the First Quarter of 2021, Payable on May 19, 2021

Hercules Capital, Inc. announced that it has received $100 million in funding

New 90-day high: €13.68

Upcoming Dividend of US$0.37 Per Share

Full year 2020 earnings released: EPS US$2.02 (vs US$1.71 in FY 2019)

Revenue beats expectations