Kristin Van Dask

About Kristin Van Dask

Kristin Van Dask is Chief Financial Officer, Chief Compliance Officer, Treasurer and Secretary of Prospect Capital Corporation (PSEC), roles she has held since April 2018; she was previously a controller at Prospect Administration LLC. She was 46 as of the September 2025 proxy, 45 in September 2024, and 44 in September 2023, indicating steady tenure in these roles across the fund complex . PSEC is a closed-end investment company regulated as a BDC; as an externally managed issuer, PSEC does not pay annual cash compensation to executive officers—Ms. Van Dask is compensated by Prospect Administration under the administration agreement—which limits disclosure of company-paid performance metrics or incentive structures at the PSEC entity level . Quantitative company performance metrics (TSR, revenue growth, EBITDA growth) tied to her compensation are not disclosed in PSEC’s proxies, and thus are omitted here .

Past Roles

External Roles

Fixed Compensation

PSEC does not pay annual cash compensation to executive officers; Ms. Van Dask is compensated by Prospect Administration under the administration agreement.

Notes:

• “We have not paid, and we do not intend to pay, any annual cash compensation to our executive officers… Ms. Van Dask is compensated from the income Prospect Administration receives under the administration agreement.”

Performance Compensation

No company-paid equity or option awards to executive officers are disclosed at the PSEC entity level.

Detailed incentive metric design (metric, weighting, target, actual, payout, vesting) is not applicable given PSEC’s disclosure that executive officers are not paid by PSEC .

Equity Ownership & Alignment

• Hedging is prohibited for “Access Persons” (including officers) under PSEC’s code of ethics; no explicit policy on pledging is disclosed .
• Beneficial ownership has increased over time; in addition to common shares held directly and jointly, Ms. Van Dask holds preferred shares with conversion privileges to acquire common shares.

Notes:

• 2022 ownership percentages are based on 391,322,615 common shares and 22,845,765 preferred shares outstanding as of March 14, 2022; “* represents less than one percent” applies to Ms. Van Dask .
• 2024 ownership percentages are based on 432,925,834 common shares and 70,113,536 preferred shares outstanding as of September 18, 2024; “* represents less than one percent” applies to Ms. Van Dask .

Employment Terms

• Employment start date: appointed CFO, Treasurer, Secretary, and CCO on April 4, 2018 .
• Contract term, severance, change-of-control provisions: Not disclosed at the PSEC entity level; executive officers are compensated by external affiliates (Prospect Administration) under the administration agreement .
• Non-compete, non-solicit, garden leave, clawbacks, tax gross-ups, deferred comp, pension/SERP, perquisites: Not disclosed by PSEC (and PSEC reports no pension or retirement plan) .

Performance & Track Record

• PSEC is a BDC and externally managed; proxies used here do not tie Ms. Van Dask’s compensation to disclosed PSEC performance metrics (TSR, revenue/EBITDA growth) and do not report executive incentive outcomes at the PSEC entity level .
• Governance role: Ms. Van Dask serves as CFO and CCO and signs the proxy solicitations “By Order of the Board,” reflecting her officer responsibilities and compliance oversight .

Compensation Structure Analysis

• Cash vs. equity mix: At the PSEC level, no cash or equity compensation is paid to executive officers; compensation occurs via Prospect Administration (external) .
• Pay-for-performance visibility: Absent—PSEC does not disclose performance-based incentive structures for executive officers at the company entity .
• Hedging policy: Hedging of PSEC securities is prohibited for Access Persons, reducing misalignment risk from derivative hedges .
• Pledging: No explicit pledging disclosure found .

Related Party Transactions

• Structural relationships: Executive officers are compensated by PCM/Prospect Administration under management/administration agreements rather than by PSEC; this is structurally disclosed and common in externally managed BDCs .

Risk Indicators & Red Flags

• Hedging prohibited; pledging policy not explicitly disclosed .
• Dilution authority below NAV: Not directly tied to Ms. Van Dask’s compensation, but as CFO, her oversight is relevant; PSEC regularly seeks shareholder renewal to sell shares below NAV (up to 25% of outstanding on any given date), which may affect shareholder alignment and capital strategy .

Say-on-Pay & Shareholder Feedback

• No say-on-pay disclosures identified for executive compensation at PSEC given the externally managed structure and absence of company-paid executive compensation .

Compensation Peer Group

• Not disclosed for executive officers at the PSEC entity level .

Expertise & Qualifications

• Roles: CFO, CCO, Treasurer, Secretary since April 2018; prior controller at Prospect Administration LLC .
• Education, technical expertise, awards, publications: Not disclosed in proxies .

Work History & Career Trajectory

Compensation Committee Analysis

• Corporate governance guidelines and a Nominating, Corporate Governance and Compensation Committee exist; detailed consultant usage, peer groups, and target percentiles for executives are not disclosed at the PSEC entity level .

Investment Implications

• Alignment: Absence of company-paid cash/equity compensation at PSEC reduces direct visibility into pay-for-performance alignment for Ms. Van Dask at the PSEC entity; alignment is instead observed via her increasing common holdings and sizable conversion privileges through preferred stock (e.g., 25,152 rights as of Mar 11, 2025; 40,671 as of Sep 17, 2025) .
• Retention risk: Her multi-entity CFO/CCO responsibilities across Priority Income Fund, PFLOAT, and PENF suggest institutional integration with Prospect Administration, implying retention is tied to external manager rather than PSEC-specific incentives .
• Trading signals: Monitor Form 4 activity around preferred conversions (large step-ups from 5,130 to 25,152 to 40,671 rights) and changes in direct/shared ownership as potential signals of confidence or liquidity needs .
• Governance and capital strategy: Repeated annual authorization to sell common below NAV may create dilution risk; as CFO/CCO, Ms. Van Dask’s oversight is central to capital actions and compliance—investors should track issuance activity vs. NAV and its impact on per-share metrics .
• Risk controls: Hedging is prohibited for Access Persons, limiting potential misalignment from derivative hedges; lack of explicit pledging policy disclosure remains a monitoring point .