Florina Klingbaum
About Florina Klingbaum
Florina Klingbaum has served as Princeton Capital Corporation’s Chief Compliance Officer since January 1, 2018, with prior senior roles at Citigroup Global Markets and Credit Suisse, and earlier experience as a Senior Auditor in KPMG’s Financial Services division . She is a Managing Member of Altemis Capital Management LLC and also serves as Chief Compliance Officer of House Hanover, LLC, the Company’s external investment advisor; she holds two master’s degrees (Accounting and MBA) from Pace University, a BA in Sociology from the University of Toronto, and is a CPA . The Company discloses that she does not own any PIAC securities . Executive officers, including the CCO, are employees/contractors of House Hanover and are compensated by House Hanover rather than directly by PIAC .
Past Roles
| Organization | Role | Years | Strategic Impact / Notes |
|---|---|---|---|
| Princeton Capital Corporation (PIAC) | Chief Compliance Officer | 2018–present | Compliance leadership for a BDC structure; executive officers paid via external advisor model . |
| Nuveen Investments | Consultant | 2015–2016 | Compliance/regulatory consulting exposure supporting investment management operations . |
| Citigroup Global Markets | Senior roles | — | Experience in alternative investments and structured products . |
| Credit Suisse | Senior roles | — | Broader fund operations and structured products experience . |
| KPMG LLP | Senior Auditor, Financial Services | — | Audit foundation across financial services clients . |
External Roles
| Organization | Role | Years | Strategic Impact / Notes |
|---|---|---|---|
| Altemis Capital Management LLC | Managing Member | — | Investment management provider specializing in compliance and regulatory services . |
| House Hanover, LLC (PIAC’s investment advisor) | Chief Compliance Officer | — | CCO for advisor receiving management fees and administration expense reimbursement from PIAC . |
Fixed Compensation
PIAC does not pay executive officers directly; compensation is paid by House Hanover (PIAC reimburses its allocable share under the advisory agreement). No Company-level salary/bonus is disclosed for the CCO.
| Component (PIAC-paid) | FY 2024 | FY 2025 |
|---|---|---|
| Base Salary | None (paid by House Hanover, not PIAC) | None (paid by House Hanover, not PIAC) |
| Target Bonus % | None (no Company-paid executive comp) | None (no Company-paid executive comp) |
| Actual Bonus Paid | None (no Company-paid executive comp) | None (no Company-paid executive comp) |
Reference context: Management fees accrued to House Hanover were $257,384 and administration expenses were $259,500 for FY 2024 (advisor-level amounts, not broken out by individual executives) .
Performance Compensation
PIAC discloses no Company-level executive incentive plans for officers; executive compensation is set and paid by House Hanover under the Investment Advisory Agreement. No Company-level performance metric weightings or payouts are disclosed for the CCO.
| Incentive Element (PIAC-level) | Structure | FY 2024 | FY 2025 |
|---|---|---|---|
| RSUs/PSUs | Not disclosed at PIAC; executive officers are compensated by House Hanover | — | — |
| Stock Options | Not disclosed at PIAC; executive officers are compensated by House Hanover | — | — |
| Non-Equity Incentive Plan | None at PIAC for executive officers (paid by House Hanover) | — | — |
| Performance Metrics | Not disclosed at PIAC for executive officers (advisor-compensation framework) | — | — |
| Clawback/Hedging/Pledging | Code of Ethics addresses insider trading and conflicts; specific anti-hedging/pledging terms not detailed in DEF 14A excerpts | — | — |
Equity Ownership & Alignment
| Metric | As of Nov 12, 2024 | As of Nov 11, 2025 |
|---|---|---|
| Dollar range of PIAC equity beneficially owned | None | None |
| Beneficial owner? | No (does not own any PIAC securities) | No (does not own any PIAC securities) |
Implication: With no Company equity, there is no vesting overhang or insider selling pressure tied to the CCO’s personal holdings .
Employment Terms
- Role and start date: Chief Compliance Officer since January 1, 2018 .
- Employer/Compensation source: Executive officers are employees/contractors of House Hanover and are compensated by House Hanover; PIAC reimburses its allocable share under the advisory agreement .
- Severance/change-of-control: The proxy does not describe Company-level severance or change-of-control benefits for executive officers; compensation flows through the advisor framework .
- Governance/compliance framework: PIAC maintains a Code of Business Conduct and Ethics and Statement on the Prohibition of Insider Trading; directors and executive officers must disclose conflicts to the Audit Committee .
Investment Implications
- No Company-paid executive compensation or Company equity ownership for the CCO: alignment with PIAC shareholders depends on advisor governance rather than direct Company pay or stock exposure; there is no vesting-driven selling pressure from the CCO .
- Advisor economics drive incentives: House Hanover received $257,384 in management fees and $259,500 in administration expenses in FY 2024; as House Hanover’s CCO, Ms. Klingbaum’s compensation is tied to the advisor, not PIAC performance metrics disclosed at the Company level .
- Compliance posture: As CCO of both PIAC and its advisor, she is central to oversight of insider trading and conflict policies, which can reduce regulatory risk but provides no direct pay-for-performance link at PIAC .
- Governance structure: PIAC has no compensation committee because executive officers receive no direct Company compensation; the Board (with the interested director recused) oversees advisor compensation, concentrating influence in the advisor model typical of externally managed BDCs .