John Riley
About John Riley
John B. Riley is Vice President of KBDC and has served in this role since inception; he is also a long-tenured Controller at Kayne Anderson (the parent of KBDC’s investment adviser), serving in that capacity since October 2006 . Born in 1974, he oversees two funds within KBDC’s fund complex (KBDC and KDL) . As an executive officer of an externally managed BDC, Riley is compensated by the Adviser and not directly by KBDC; the Adviser considers the Company’s performance when determining compensation for certain senior managers, though specific metrics and weightings for Riley are not disclosed . Company-level TSR, revenue growth, and EBITDA growth tied to Riley’s pay are not disclosed in KBDC’s filings .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Kayne Anderson BDC, Inc. (KBDC) | Vice President | 2021–present | Executive officer of externally managed BDC; duties devoted as required under Adviser’s investment management agreement |
| Kayne Anderson Capital Advisors, L.P. | Controller | 2006–present | Not disclosed in Company filings |
External Roles
| Organization | Role | Years |
|---|---|---|
| None disclosed | — | — |
Fixed Compensation
KBDC does not directly pay salaries, bonuses, pensions, perquisites, or other personal benefits to its executive officers; all executive compensation and administrative staff costs are borne by the external Adviser and reimbursed under the administration agreement framework .
| Component | Status at KBDC | Notes |
|---|---|---|
| Base salary | Not paid by KBDC | Executives are employees of the Adviser; compensation determined by Adviser |
| Target bonus % | Not paid by KBDC | No direct bonus programs at KBDC for executives |
| Actual bonus | Not paid by KBDC | Compensation borne by the Adviser |
| Perquisites | None provided by KBDC | KBDC does not provide perquisites or personal benefits to executive officers |
| Pension/SERP | None at KBDC | KBDC does not provide pension or retirement benefits to executive officers |
| Deferred compensation | Not applicable at KBDC | No executive compensation plans maintained by KBDC |
Performance Compensation
KBDC does not maintain equity compensation plans under which its securities are authorized for issuance to executive officers; therefore, no RSUs/PSUs/options are granted by KBDC and no vesting schedules exist at the Company level . The Adviser considers KBDC performance in setting compensation for certain senior managers, but specific performance metrics, targets, weightings, outcomes, and payouts for Riley are not disclosed .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed (Adviser-considered Company performance) | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not applicable at KBDC (no Company equity grants) |
Equity Ownership & Alignment
| Metric | As of April 3, 2025 |
|---|---|
| Beneficial ownership (KBDC common shares) | — (no shares reported) |
| % of shares outstanding | Less than 1% (reported as “*”) |
| Vested vs. unvested shares | Not applicable (no Company equity awards) |
| Options (exercisable vs. unexercisable) | None at KBDC (no Company option awards) |
| Shares pledged as collateral | Not disclosed in proxy tables for Riley |
| Stock ownership guidelines | Not disclosed for executives; KBDC does not maintain executive equity compensation plans |
Notes:
- The proxy’s security ownership table explicitly lists John B. Riley with “—” shares for KBDC as of April 3, 2025, indicating no reported beneficial ownership .
- Shares held by Adviser-affiliated entities are excluded from management’s group ownership where officers lack voting or investment power and are not deemed indirect beneficial owners under the Company’s interpretation .
Employment Terms
| Term | Disclosure |
|---|---|
| Employment agreement | None at KBDC; no employment agreements with executive officers |
| Severance on termination | No arrangements to make payments upon termination |
| Change-of-control economics | No arrangements to make payments in the event of a change in control |
| Clawback provisions | Not disclosed for executives |
| Tax gross-ups | Not disclosed; no direct executive perquisites from KBDC |
| Non-compete / non-solicit | Not disclosed in Company filings |
| Garden leave / consulting | Not disclosed in Company filings |
| Auto-renewal clauses | Not applicable (no KBDC employment agreements) |
| Administration agreement context | Administrative services are provided by the Adviser; costs reimbursed by KBDC; agreements renewable annually and terminable on notice |
Investment Implications
- Alignment: Riley’s lack of direct KBDC share ownership and absence of Company-level equity awards reduce direct pay-for-performance alignment with public shareholders; his compensation is determined by the external Adviser, which broadly considers Company performance but without disclosed, auditable metrics or weightings .
- Insider selling pressure: With no disclosed KBDC share ownership, near-term selling pressure from Riley is minimal; absence of option grants or RSUs also eliminates vesting-driven sale windows .
- Retention: No employment, severance, or change-of-control protections at KBDC suggest retention is primarily through the Adviser; Riley’s long tenure as Controller at Kayne Anderson (since 2006) indicates organizational stability but not contractual lock-in at the Company level .
- Governance: Externally managed structure centralizes compensation and staffing at the Adviser; while clean in terms of Company-provided perquisites and change-in-control payments, it offers limited transparency into executive-level performance metrics and incentive design for Riley at the Adviser .
Citations:
- Executive officer biography and roles:
- Compensation framework (no direct pay, no equity plans, no employment/severance/CoC arrangements):
- Security ownership table (Riley: “—” shares, percent “*” <1%):
- Administration agreement and external management context: