Kyle Spina
About Kyle Spina
Kyle Spina, age 38, is Chief Financial Officer and Treasurer of OFS Credit Company, Inc. (OCCI) effective March 31, 2025, after serving as Chief Accounting Officer from 2023–2025 . He has 15+ years of public and private accounting experience, including roles at Thoma Bravo (Assistant Controller, Credit Funds), Fidus Investment Corporation (Controller/Accounting Manager), and BDO (Audit Manager), and holds a B.S. in Accounting and Management from Purdue University; he has been a Certified Public Accountant since 2010 . OCCI does not directly compensate executive officers and does not disclose TSR/revenue/EBITDA pay-for-performance metrics for executives; officers are paid by an affiliate (OFSC) with OCCI reimbursing an allocable portion under the Administration Agreement, while the advisor is paid base and incentive fees under the Investment Advisory and Management Agreement .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BDO | Audit Manager | 2014–2016 | Led public company audits; strengthened financial reporting rigor |
| Public Accounting (various) | Auditor | 2009–2014 | Built GAAP, controls, and SEC reporting foundation |
| Fidus Investment Corporation (NASDAQ: FDUS) & affiliates | Controller and Accounting Manager | 2016–2020 | Ran fund accounting/controls for a public BDC platform |
| Thoma Bravo, LP | Assistant Controller, Credit Funds | 2020–2021 | Managed PE credit fund controllership and reporting |
| OFS Credit Company, Inc. (OCCI) | Chief Accounting Officer | 2023–2025 | Oversaw OCCI accounting before promotion to CFO |
External Roles
| Organization | Role | Years |
|---|---|---|
| OFS Credit Company, Inc. (OCCI) | Chief Financial Officer and Treasurer | 2025–present |
| Hancock Park Corporate Income, Inc. | Chief Financial Officer and Treasurer | Current (not dated) |
| OFS Capital Corporation | Chief Financial Officer and Treasurer | Current (not dated) |
| OFS Capital Management, LLC (OFS Advisor) | Director and Chief Financial Officer | Current (not dated) |
| Orchard First Source Capital, Inc. (OFSC) | Chief Financial Officer and Treasurer | Current (not dated) |
| Orchard First Source Asset Management, LLC (OFSAM) | Vice President and Chief Financial Officer | Current (not dated) |
| Orchard First Source Asset Management Holdings, LLC (OFSAM Holdings) | Vice President and Chief Financial Officer | Current (not dated) |
Fixed Compensation
- OCCI discloses that none of its officers (including the CFO) receive direct compensation from OCCI; compensation is paid by OFSC and OCCI reimburses the administrator for an allocable portion under the Administration Agreement .
- The Compensation Committee reviews and approves reimbursement of compensation for OCCI’s CEO, CFO and Chief Compliance Officer (finance/compliance roles) rather than setting OCCI-paid salary/bonus/equity .
- Administration fee expense paid by OCCI (aggregate, not officer-specific) was $1.37 million in FY 2024 and $0.68 million for the six months ended April 30, 2025, indicating the scale of reimbursed overhead tied to management/administration services .
- No disclosure of CFO base salary, target/actual bonus, or equity grants at OCCI (consistent with external management model) .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed at OCCI (officers compensated by OFSC; OCCI reimburses allocable portion) | — | — | — | — | — |
OCCI’s advisory compensation is paid to OFS Advisor via base and incentive fees (not an executive PSU/RSU/option framework at OCCI). Incentive fees to OFS Advisor were $4.36 million in FY 2024 and $2.58 million for the six months ended April 30, 2025; base management fees were $3.46 million (FY 2024) and $2.35 million (six months ended April 30, 2025) .
Equity Ownership & Alignment
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Common Shares Beneficially Owned | 0 | 0 |
| Preferred Shares Beneficially Owned | 0 | 0 |
| % of Common Shares Outstanding | 0.00% (16,174,054 outstanding) | 0.00% (27,430,090 outstanding) |
| Pledged as Collateral | None disclosed for Mr. Spina | |
| Ownership Guidelines (Executives) | Not disclosed |
Additional context:
- Company footnotes note pledging at affiliates for certain non-Spina holders (e.g., OFSAM Holdings’ pledged shares; UBS offset risk for another officer), but Spina held no OCCI shares and no pledge is disclosed for him .
Employment Terms
- Appointment and tenure: Spina was appointed CFO and Treasurer on January 28, 2025, effective March 31, 2025, following the prior CFO’s retirement; the prior CFO’s resignation was not related to any disagreement with the Company .
- Contract, severance, and change-of-control terms: No executive employment agreement, severance multiples, or change-of-control provisions are disclosed for OCCI officers; compensation is through OFSC with OCCI reimbursing an allocable portion .
- Hedging/derivatives: OCCI’s Code of Ethics does not expressly prohibit hedging transactions by directors/executives, but requires pre-clearance from the Chief Compliance Officer for transactions in derivative securities of OCCI .
- Insider trading policy and related-party governance: OCCI maintains an insider trading policy and related-party transaction review via the Audit Committee; advisory/administration arrangements with affiliates are documented with fee disclosures and independent board oversight .
Investment Implications
- Pay-for-performance alignment risk: Spina’s OCCI compensation is indirect (paid by OFSC; OCCI reimburses allocable overhead) with no OCCI-disclosed salary/bonus/equity or performance metrics—typical for externally managed funds but weak direct alignment to OCCI TSR/financial outcomes at the executive level .
- Ownership/pledging signals: Zero beneficial ownership of OCCI stock limits “skin in the game”; no pledge is disclosed, but absence of holdings removes insider selling pressure and reduces alignment via equity .
- Governance mitigants: The board/committees (all independent members on Audit/Comp/Nominating) oversee reimbursement of executive compensation and related-party agreements; advisor fees and administration costs are transparent and reviewed, partially offsetting alignment concerns .
- Transition/execution: CFO transition in 2025 was planned and non-adversarial; Spina’s background in public company audits and BDC/fund controllership supports execution quality in finance/reporting; however, multi-entity CFO responsibilities may diffuse focus across affiliates .