Shari Withem
About Shari Withem
Shari Withem is Co-Chief Accounting Officer, Co-Controller, and Co-Treasurer of Blue Owl Technology Finance Corp. (OTF), and a Managing Director at Blue Owl; she has served as an officer since 2021 and became Co-CAO effective November 11, 2024. She holds a B.S. in Accounting from James Madison University and is a licensed CPA in Virginia, with prior roles at Sixth Street Specialty Lending (TSLX), MCG Capital Corporation, and Deloitte’s Audit & Assurance practice . Company performance under current leadership includes record 2024 net investment income per share of $1.79 and dividends of $1.46 per share; borrowers delivered mid-to-high single-digit revenue and EBITDA growth, and the weighted average borrower EBITDA was $227 million as of year-end 2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Sixth Street Specialty Lending, Inc. (TSLX) | Vice President; responsible for accounting, financial reporting, treasury, and internal controls | — | Built and oversaw reporting, treasury controls, and internal control environment at a public BDC |
| MCG Capital Corporation (MCGC) | Finance/Accounting roles | — | Contributed to finance and reporting at a Nasdaq-listed BDC |
| Deloitte | Audit & Assurance Practice | — | Developed technical accounting, audit, and controls expertise |
External Roles
No public company directorships or external board roles disclosed for Withem .
Fixed Compensation
- OTF has no employees; executive officers (including CFO/CCO) do not receive direct compensation from OTF. OTF reimburses the Adviser for an allocable portion of compensation for the CFO and CCO and their staffs per the Administration Agreement; individual executive pay details (salary, bonus, equity grants) for Withem are not disclosed by OTF .
Performance Compensation
- OTF’s executive-specific performance compensation is not disclosed; OTF pays the Adviser a management fee and—for any future exchange listing—an incentive fee based on pre-incentive fee net investment income and capital gains. This fee structure pertains to the Adviser, not individual executives, and does not provide per-executive metrics or payout details for Withem .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership (shares) | — (not listed with a share count in Security Ownership table) |
| Ownership as % of shares outstanding | — |
| Vested vs. unvested | Not disclosed |
| Options (exercisable/unexercisable) | Not disclosed |
| Shares pledged as collateral | Prohibited by OTF insider trading policy; directors/officers may not pledge company securities |
| Hedging/derivatives | Prohibited (no puts/calls or monetization transactions; no short-selling) |
| 10b5-1 plans (recent) | None adopted or terminated in Q3 2024 by directors/executive officers |
| Stock ownership guidelines | Not disclosed for executives |
Employment Terms
| Term | Detail |
|---|---|
| Current roles | Co-Chief Accounting Officer, Co-Controller, and Co-Treasurer |
| Effective date (Co-CAO) | November 11, 2024 |
| Officer since | 2021 |
| Contract term/expiration | Not disclosed |
| Non-compete / non-solicit | Not disclosed |
| Garden leave / consulting | Not disclosed |
| Clawbacks | Not disclosed |
| Insider trading policy | Prohibits hedging, shorting, pledging; applies to officers/directors/adviser personnel |
| Section 16 filings compliance | All applicable filings timely for FY 2024 |
| Tenure in role | Serving as Co-CAO since 11/11/2024; executive officer since 2021 |
Performance Compensation (Plan Design Detail for Adviser Fees)
While not executive-specific, the Adviser’s incentive fee post any exchange listing has a 1.5% quarterly hurdle, 100% catch-up up to 1.82% quarterly (7.27% annualized), and 17.5% above that, plus a capital gains incentive fee of 17.5% on cumulative realized capital gains net of losses and depreciation since listing. These mechanics affect Adviser economics, not Withem’s individual compensation .
Investment Implications
- Compensation alignment and disclosure: OTF’s structure (no employees; executive compensation paid by Adviser) limits visibility into Withem’s salary, bonus, equity, and severance/change-of-control terms; pay-for-performance analysis at the individual level cannot be performed from OTF filings . This opacity reduces direct insight into incentives and retention levers tied to OTF-specific KPIs.
- Selling pressure risk: Absence of 10b5-1 plans in Q3 2024 and the insider policy’s ban on hedging/pledging/shorting suggest low structural pressure for insider-driven selling and better alignment safeguards, though the lack of disclosed share ownership for Withem implies limited direct equity sensitivity at the OTF-entity level .
- Execution/operational confidence: Withem’s background across public BDCs (TSLX, MCGC) and Deloitte supports robust accounting controls and reporting—important for a lender-focused BDC with strong 2024 NII per share and dividends, and a borrower base showing mid-to-high single-digit growth. This profile supports continuity and control quality rather than direct revenue-generation levers .
- Change-of-control/severance: No executive-specific agreements disclosed; any future exchange listing would alter Adviser fee mechanics but not reveal personal severance or acceleration terms for Withem in OTF filings . Investors should seek Blue Owl/Adviser-level disclosures for individual employment economics if available.
Net of limited executive compensation disclosure at OTF, alignment relies on governance policies (no hedging/pledging) and Blue Owl platform incentives. Near-term trading signals tied to Withem are minimal given no 10b5-1 activity and no reported share pledging; company-level performance (record NII and dividends) remains the more material driver for OTF holders .