Kenneth Seifert
About Kenneth Seifert
Kenneth Seifert is Chief Financial Officer and Treasurer of MidCap Financial Investment Corporation (MFIC). He was introduced as the newly appointed CFO on the August 12, 2025 earnings call, and he signed Sarbanes–Oxley Section 302 and 906 certifications for MFIC’s Q2 and Q3 2025 Form 10‑Qs, confirming his role and responsibilities in financial reporting and controls . During Q2 and Q3 2025 under his tenure, MFIC reported net investment income per share of $0.39 and $0.38, respectively, with NAV per share moving from $14.75 to $14.66; net leverage was 1.44x at Q2 quarter‑end and 1.35x at Q3 quarter‑end . Seifert’s public commentary highlights capital structure execution—extending maturities, reducing facility margins by 10 bps, and upsizing/repricing a CLO with a new AAA coupon of S+149 bps (down 91 bps)—which are directly tied to financing costs and earnings capacity .
Past Roles
No biographical or prior role details were located in MFIC’s 2025–2023 proxies or 2025 10‑Q/8‑K filings reviewed; Seifert was introduced publicly as the newly appointed CFO on the August 12, 2025 earnings call .
External Roles
No external directorships or roles were disclosed for Seifert in MFIC’s 2025–2023 proxies or 2025 10‑Q/8‑K filings reviewed .
Fixed Compensation
- MFIC pays no compensation directly to executive officers; the Compensation Committee therefore does not produce or review an executive compensation report .
- MFIC disclosed no pension or retirement benefits for directors or executive officers .
Performance Compensation
MFIC is externally managed; the economic “pay-for-performance” lever at the company level is the adviser incentive fee construct disclosed by management (affects earnings and dividend capacity rather than individual officer pay).
| Incentive Feature | Disclosed Term |
|---|---|
| Incentive fee rate | 17.5% |
| Hurdle design | Total return hurdle with rolling 12‑quarter lookback |
| Q2 2025 incentive fee | $3.9 million (9.6% of pre‑incentive fee NII), reduced by lookback due to prior net loss |
Equity Ownership & Alignment
- As of the April 2025 proxy record date, MFIC’s directors and executive officers, as a group, owned less than 1% of outstanding shares; individual executive officer holdings were de minimis and Seifert was not yet listed, reflecting his mid‑2025 appointment .
- MFIC maintains a Code of Ethics and an Insider Trading Policy governing personal investments and trading in MFIC securities; personal investments are permitted under restrictions and preclearance per policy exhibits to the 10‑K .
Employment Terms
- No employment agreement, severance, or change‑of‑control terms for Seifert are disclosed in MFIC filings; MFIC’s external management structure means executive compensation is not paid by MFIC and related contracts are not included in MFIC’s proxy disclosures .
Performance & Track Record Under Tenure
| Metric | Q2 2025 | Q3 2025 |
|---|---|---|
| Net Investment Income per Share ($) | $0.39 | $0.38 |
| NAV per Share ($) | $14.75 | $14.66 |
| Net Leverage (x) | 1.44x (quarter‑end) | 1.35x (quarter‑end) |
- CFO capital structure actions: extended revolving credit facility maturity by ~1 year and reduced applicable margin by 10 bps; reset/up‑sized MFIC Bethesda CLO 1, achieving a new AAA coupon of S+149 bps (−91 bps from original), lowering financing costs and extending reinvestment .
- CFO commentary emphasized leveraging banking relationships and de‑risking portfolio via Merx repayments while redeploying into first lien middle market loans .
Trading Signals & Risk Indicators
- Insiders are subject to MFIC’s Insider Trading Policy; watch for initial Form 3 and subsequent Form 4 transactions from Seifert to assess equity alignment and selling pressure, noting the group’s <1% ownership as of the 2025 proxy .
- Earnings power sensitivity to financing costs: reductions in facility margins and CLO coupons improve NII; monitoring further capital structure actions and leverage trajectory can inform short‑term trading bias .
Investment Implications
- Alignment: MFIC’s external management model means no disclosed company‑paid compensation for Seifert; equity alignment is not observable from MFIC filings, and aggregate insider ownership is <1%, raising questions on direct officer stock incentives—monitor Form 3/4 for Seifert to gauge alignment .
- Execution: Seifert’s early tenure shows tangible financing cost reductions and term extensions, supportive of NII and dividend sustainability; continued CLO repricing and facility terms are levers to watch .
- Retention risk: Absent disclosed employment/severance terms in MFIC filings, retention and change‑of‑control economics are opaque; reliance on adviser-level arrangements suggests stability but limits visibility for public investors .
- Near‑term catalysts: Additional Merx repayments and redeployment into first lien loans, plus further capital structure optimization under Seifert, can drive NII and NAV outcomes—track quarterly NII/NAV updates and leverage trend .