Paul G. Seitz

About Paul G. Seitz

Paul G. Seitz is Senior Vice President and Chief Investment Officer (CIO) of Horizon Technology Finance Corporation (HRZN) since June 5, 2025, and CIO of the HRZN Advisor since May 2025. He is 38 and is responsible for general oversight of HRZN’s investments, including originations; he also serves on the HRZN Advisor’s Investment Committee, which requires unanimous approval for new investments and does not receive direct compensation from HRZN . Prior to HRZN, Seitz was at Monroe Capital (2019–2025), most recently Managing Director and Head of Software Underwriting . Company-level performance metrics tied specifically to his tenure (TSR, revenue growth, EBITDA growth) are not disclosed in HRZN filings.

Past Roles

External Roles

Fixed Compensation

• HRZN is externally managed; none of HRZN’s executive officers receive direct compensation from HRZN. HRZN reimburses the Administrator for allocable portions of compensation for the Chief Compliance Officer and CFO teams, but executive pay (including CIO) is paid by the Advisor/Monroe Capital rather than HRZN .
• Investment Committee members (including Seitz) do not receive direct compensation from HRZN; they are compensated by the HRZN Advisor or Monroe Capital .

Performance Compensation

• Not disclosed. HRZN does not detail Seitz’s specific bonus targets, equity awards, or option grants at the Advisor/Monroe Capital level. HRZN filings confirm executive officers are not directly compensated by HRZN and Investment Committee members receive no direct compensation from HRZN .

Equity Ownership & Alignment

Beneficial Ownership (as disclosed)

Dollar Range of HRZN Stock (Investment Committee members as of Dec 31, 2024)

• Ownership as % of shares outstanding for Seitz is not specifically quantified beyond “—” and the table footnote indicating under 1%; no pledged shares are disclosed in HRZN filings .
• Stock ownership guidelines and compliance status for executive officers are not disclosed in HRZN filings.

Employment Terms

• Role and start date: Senior Vice President and CIO of HRZN since June 5, 2025; CIO of HRZN Advisor since May 2025 .
• Employment model: HRZN has no employees; day-to-day operations are managed by the Advisor under the Investment Management and Administration Agreements .
• Severance and change-of-control: No severance or change-of-control provisions are disclosed for Seitz by HRZN; executive arrangements appear at the Advisor/Monroe level and are not detailed in HRZN filings .
• Non-compete/Non-solicit/Garden leave/Clawback: Not disclosed for Seitz in HRZN filings.
• Hedging prohibition: HRZN prohibits hedging by directors and executive officers .

Board Governance (context)

• Compensation Committee interlocks: No interlocking relationships existed in 2024 between any Board/Compensation Committee member and an HRZN executive officer .
• Governance structure: HRZN is externally managed; Board supervises Advisor; Investment Committee (including Seitz) governs investment approvals (unanimous vote) .

Performance & Track Record

• Strategic priorities: As part of the combined platform, HRZN articulated plans to leverage venture debt experience and expand lending to public small-cap companies; Seitz’s addition as CIO was highlighted as strengthening leadership for software/technology lending .
• Execution focus: Management emphasized rapid, prudent capital deployment post-merger, diversified origination channels, and robust credit governance .
• Company-level performance metrics during Seitz’s tenure (TSR, revenue/EBITDA growth) are not disclosed in filings reviewed.

Investment Implications

• Alignment: Seitz’s direct compensation is not paid by HRZN, and his disclosed HRZN equity ownership is “None”/less than 1% as of late 2024–2025, which limits traditional pay-for-performance alignment via HRZN equity; hedging is prohibited, modestly supporting alignment .
• Retention/contract risk: HRZN’s externally managed structure concentrates employment terms at the Advisor level; HRZN does not disclose severance, change-of-control, or clawback specifics for Seitz, creating opacity around retention economics and potential golden parachutes at the Advisor .
• Trading signals: With no disclosed HRZN share ownership and a hedging ban, near-term insider selling pressure from Seitz appears limited; there is no disclosure of 10b5-1 activity relevant to his tenure to date .
• Execution risk: Seitz is a recent appointee with strong venture/software underwriting credentials; successful execution will hinge on investment committee discipline and the Advisor’s platform scale to ramp and diversify the portfolio post-merger .
• Governance: No compensation committee interlocks, external management oversight by the Board, and unanimous IC approval requirements support credit governance, but the lack of disclosed CIO-specific incentive metrics at HRZN limits transparency into performance-linked pay .