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Hercules Capital, Inc. 2025-2026 Proxy Voting Records

Compiled from SEC Form N-PX filings. Page generated 04 October 2026.

12Reported items
244Asset managers
723Fund votes
2026-06-18Meeting date

Proxy season: 2023-2024 2024-2025 2025-2026

Explore Hercules Capital, Inc. in the interactive database Compare manager voting policies

How asset managers voted at the Hercules Capital, Inc. 2025-2026 meeting

Each item below shows how the 244 asset managers that disclosed a Hercules Capital, Inc. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of Hercules Capital, Inc.’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Advisory vote to approve the Company's named executive officer compensation.

SECTION 14A SAY-ON-PAY VOTES

Combines 4 wordings of this item as funds reported it.

94% fund support · no official result

FOR 93%

The 227 asset managers below cast 94% of the shares they voted on this item FOR (16,880,971 for, 1,054,564 against).

FOR: 16,880,971 (92.6%)AGAINST: 1,054,564 (5.8%)ABSTAIN: 286,882 (1.6%)NOT VOTED: 9,381 (0.1%)

Largest asset managers voting on “Advisory vote to approve the Company's named executive officer compensation.” at Hercules Capital, Inc., 2025-2026
Asset manager	For	Against	Abstain	Vote
Putnam	2,046,563	165,522	85,465	For
VAN ECK ASSOCIATES CORP	1,767,184	143,366	74,025	For
VanEck ETF Trust	1,767,184	143,366	74,025	For
Citadel	1,197,432	0	0	For
Amova Asset Management Co., Ltd.	1,025,337	0	0	For
STIFEL NICOLAUS & CO INC \MO\	1,009,973	0	0	For
Two Sigma	708,054	0	0	For
BlackRock	642,845	0	0	For
Gilman Hill Asset Management, LLC	539,080	0	0	For
WELLS FARGO CLEARING SERVICES, LLC	463,436	0	0	For
DE Shaw	412,659	0	0	For
Robeco Institutional Asset Management B.V.	0	359,423	0	Against
RBC Capital Markets, LLC	355,515	0	0	For
D.A. DAVIDSON & CO.	325,838	0	0	For
Neuberger Berman	287,369	0	0	For
First Trust	199,689	16,168	8,348	For
State Street	223,933	0	0	For
WELLS FARGO ADVISORS FINANCIAL NETWORK, LLC	219,460	0	0	For
Legal & General Investment Management Ltd	0	217,784	0	Against
Naviter Wealth, LLC	215,772	0	0	For
DENALI ADVISORS LLC	192,286	0	0	For
BLAIR WILLIAM & CO/IL	191,193	0	0	For
Cerity Partners LLC	185,427	0	0	For
Taylor Frigon Capital Management LLC	137,609	0	0	For
PNC BANK, NATIONAL ASSOCIATION	124,892	0	0	For

Showing the 25 largest of 227 asset managers. See all 227 in the interactive database.

2. Advisory vote on the frequency of the advisory vote to approve the Company's named executive officer compensation.

SECTION 14A SAY-ON-PAY VOTES

Combines 4 wordings of this item as funds reported it.

98% fund support · no official result

FOR 21%ONE YEAR 51.3%1 YEAR 26%

The 224 asset managers below cast 98% of the shares they voted on this item FOR (3,789,376 for, 74,818 against).

FOR: 3,789,376 (20.5%)AGAINST: 74,818 (0.4%)ABSTAIN: 216,976 (1.2%)ONE YEAR: 9,469,198 (51.3%)1 YEAR: 4,713,639 (25.5%)3 YEARS: 83,898 (0.5%)THREE YEARS: 49,956 (0.3%)TWO YEARS: 43,220 (0.2%)NOT VOTED: 9,381 (0.1%)2 YEARS: 7,596 (0.0%)SHARES YEAR 1: 3,675 (0.0%)1-YEAR: 349 (0.0%)

Largest asset managers voting on “Advisory vote on the frequency of the advisory vote to approve the Company's named executive officer compensat” at Hercules Capital, Inc., 2025-2026
Asset manager	For	Against	Abstain	Vote
Putnam	0	0	67,524	One Year
VanEck ETF Trust	1,847,539	37,409	99,625	For
VAN ECK ASSOCIATES CORP	1,847,539	37,409	41,140	For
Citadel	0	0	0	One Year
Amova Asset Management Co., Ltd.	0	0	0	One Year
STIFEL NICOLAUS & CO INC \MO\	0	0	0	One Year
Two Sigma	0	0	0	One Year
BlackRock	0	0	0	1 Year
Gilman Hill Asset Management, LLC	0	0	0	One Year
WELLS FARGO CLEARING SERVICES, LLC	0	0	0	1 Year
DE Shaw	0	0	0	One Year
Robeco Institutional Asset Management B.V.	0	0	0	1 Year
RBC Capital Markets, LLC	0	0	0	One Year
D.A. DAVIDSON & CO.	0	0	0	1 Year
Janney Montgomery Scott LLC	0	0	0	One Year
Neuberger Berman	0	0	0	1 Year
First Trust	300	0	6,596	1 Year
State Street	0	0	0	One Year
WELLS FARGO ADVISORS FINANCIAL NETWORK, LLC	0	0	0	1 Year
Legal & General Investment Management Ltd	0	0	0	One Year
Naviter Wealth, LLC	0	0	0	1 Year
DENALI ADVISORS LLC	0	0	0	1 Year
BLAIR WILLIAM & CO/IL	0	0	0	One Year
Cerity Partners LLC	0	0	0	1 Year
Taylor Frigon Capital Management LLC	0	0	0	1 Year

Showing the 25 largest of 224 asset managers. See all 224 in the interactive database.

3. Approval of the amendment and restatement of the Hercules Capital, Inc. Amended and Restated 2018 Equity Incentive Plan.

COMPENSATION

94% fund support · no official result

FOR 91%

The 19 asset managers below cast 94% of the shares they voted on this item FOR (3,451,676 for, 215,043 against).

FOR: 3,451,676 (91.1%)AGAINST: 215,043 (5.7%)ABSTAIN: 121,209 (3.2%)

Largest asset managers voting on “Approval of the amendment and restatement of the Hercules Capital, Inc. Amended and Restated 2018 Equity Incen” at Hercules Capital, Inc., 2025-2026
Asset manager	For	Against	Abstain	Vote
VanEck ETF Trust	1,785,660	127,211	71,703	For
Putnam	1,030,813	73,436	41,392	For
First Trust	201,375	14,346	8,086	For
WisdomTree	122,733	0	0	For
UNITED CAPITAL FINANCIAL ADVISORS, LLC	80,890	0	0	For
Northern Trust	41,592	0	0	For
EA Series Trust	39,643	0	0	For
Legacy Capital Wealth Partners, LLC	36,249	0	0	For
ETFis Series Trust I	35,399	0	0	For
ProShares	31,713	0	0	For
SIT MUTUAL FUNDS INC	24,675	0	0	For
Tidal Trust I	10,337	0	0	For
CHECK CAPITAL MANAGEMENT INC/CA	3,675	0	0	For
Blackstone Alternative Investment Funds	2,400	0	0	For
FINANCIAL CONSULATE, INC	2,045	0	0	For
Goldman Sachs	1,247	0	0	For
Invesco	707	50	28	For
MUTUAL FUND SERIES TRUST	406	0	0	For
Vident Advisory, LLC	116	0	0	For

4. Approval of the amendment and restatement of the Hercules Capital, Inc. 2018 Non-Employee Director Plan.

COMPENSATION

Combines 2 wordings of this item as funds reported it.

95% fund support · no official result

FOR 92%

The 19 asset managers below cast 95% of the shares they voted on this item FOR (3,713,701 for, 190,788 against).

FOR: 3,713,701 (92.2%)AGAINST: 190,788 (4.7%)ABSTAIN: 121,645 (3.0%)

Largest asset managers voting on “Approval of the amendment and restatement of the Hercules Capital, Inc. 2018 Non-Employee Director Plan.” at Hercules Capital, Inc., 2025-2026
Asset manager	For	Against	Abstain	Vote
VanEck ETF Trust	1,799,751	112,863	71,961	For
Putnam	1,038,947	65,153	41,541	For
Janney Montgomery Scott LLC	319,096	0	0	For
First Trust	202,964	12,728	8,115	For
WisdomTree	122,733	0	0	For
Northern Trust	41,592	0	0	For
EA Series Trust	39,643	0	0	For
Legacy Capital Wealth Partners, LLC	36,249	0	0	For
ETFis Series Trust I	35,399	0	0	For
ProShares	31,713	0	0	For
SIT MUTUAL FUNDS INC	24,675	0	0	For
Tidal Trust I	10,337	0	0	For
CHECK CAPITAL MANAGEMENT INC/CA	3,675	0	0	For
Blackstone Alternative Investment Funds	2,400	0	0	For
FINANCIAL CONSULATE, INC	2,045	0	0	For
Goldman Sachs	1,247	0	0	For
Invesco	713	45	29	For
MUTUAL FUND SERIES TRUST	406	0	0	For
Vident Advisory, LLC	116	0	0	For

5. Election of an independent director: Robert P. Badavas

DIRECTOR ELECTIONS

Combines 3 wordings of this item as funds reported it.

85% fund support · no official result

FOR 84%AGAINST 14%

The 15 asset managers below cast 85% of the shares they voted on this item FOR (3,103,190 for, 535,747 against).

FOR: 3,103,190 (83.8%)AGAINST: 535,747 (14.5%)ABSTAIN: 62,265 (1.7%)

Largest asset managers voting on “Election of an independent director: Robert P. Badavas” at Hercules Capital, Inc., 2025-2026
Asset manager	For	Against	Abstain	Vote
VanEck ETF Trust	1,686,531	261,210	36,834	For
Putnam	973,589	150,789	21,263	For
First Trust	190,196	29,457	4,154	For
WisdomTree	122,733	0	0	For
Northern Trust	41,592	0	0	For
EA Series Trust	39,643	0	0	For
Legacy Capital Wealth Partners, LLC	36,249	0	0	For
ETFis Series Trust I	0	35,399	0	Against
ProShares	0	31,713	0	Against
SIT MUTUAL FUNDS INC	0	24,675	0	Against
Tidal Trust I	10,337	0	0	For
Blackstone Alternative Investment Funds	0	2,400	0	Against
Goldman Sachs	1,247	0	0	For
Invesco	668	103	15	For
MUTUAL FUND SERIES TRUST	406	0	0	For

6. Ratification of the appointment of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for the year ending December 31, 2026.

AUDIT-RELATED

Combines 2 wordings of this item as funds reported it.

99% fund support · no official result

FOR 98%

The 15 asset managers below cast 99% of the shares they voted on this item FOR (3,614,380 for, 46,431 against).

FOR: 3,614,380 (97.7%)AGAINST: 46,431 (1.3%)ABSTAIN: 40,392 (1.1%)

Largest asset managers voting on “Ratification of the appointment of PricewaterhouseCoopers LLP as the Company's independent registered public a” at Hercules Capital, Inc., 2025-2026
Asset manager	For	Against	Abstain	Vote
VanEck ETF Trust	1,933,213	27,467	23,894	For
Putnam	1,115,992	15,856	13,794	For
First Trust	218,015	3,097	2,695	For
WisdomTree	122,733	0	0	For
Northern Trust	41,592	0	0	For
EA Series Trust	39,643	0	0	For
Legacy Capital Wealth Partners, LLC	36,249	0	0	For
ETFis Series Trust I	35,399	0	0	For
ProShares	31,713	0	0	For
SIT MUTUAL FUNDS INC	24,675	0	0	For
Tidal Trust I	10,337	0	0	For
Blackstone Alternative Investment Funds	2,400	0	0	For
Goldman Sachs	1,247	0	0	For
Invesco	766	11	9	For
MUTUAL FUND SERIES TRUST	406	0	0	For

7. Advisory Vote on Say on Pay Frequency

SECTION 14A SAY-ON-PAY VOTES

100% fund support · no official result

FOR 98%

The 4 asset managers below cast 100% of the shares they voted on this item FOR (652,217 for, 0 against).

FOR: 652,217 (97.8%)ABSTAIN: 14,053 (2.1%)ONE YEAR: 425 (0.1%)1 YEAR: 250 (0.0%)

Largest asset managers voting on “Advisory Vote on Say on Pay Frequency” at Hercules Capital, Inc., 2025-2026
Asset manager	For	Abstain	Vote
ARES MANAGEMENT LLC	652,217	0	For
MANGROVE PARTNERS IM, LLC	0	14,053	Abstain
TD Waterhouse Canada Inc.	0	0	One Year
Coyle Financial Counsel LLC	0	0	1 Year

8. Advisory Vote to Ratify Named Executive Officers' Compensation

SECTION 14A SAY-ON-PAY VOTES

100% fund support · no official result

FOR 98%

The 4 asset managers below cast 100% of the shares they voted on this item FOR (652,892 for, 0 against).

FOR: 652,892 (97.9%)ABSTAIN: 14,053 (2.1%)

Largest asset managers voting on “Advisory Vote to Ratify Named Executive Officers' Compensation” at Hercules Capital, Inc., 2025-2026
Asset manager	For	Abstain	Vote
ARES MANAGEMENT LLC	652,217	0	For
MANGROVE PARTNERS IM, LLC	0	14,053	Abstain
TD Waterhouse Canada Inc.	425	0	For
Coyle Financial Counsel LLC	250	0	For

9. 14A Executive Compensation

SECTION 14A SAY-ON-PAY VOTES

100% fund support · no official result

FOR 100%

The 3 asset managers below cast 100% of the shares they voted on this item FOR (48,242 for, 0 against).

FOR: 48,242 (100.0%)

Largest asset managers voting on “14A Executive Compensation” at Hercules Capital, Inc., 2025-2026
Asset manager	For	Vote
EAGLE GLOBAL ADVISORS LLC	40,640	For
MQS Management LLC	4,281	For
McGowan Group Asset Management, Inc.	3,321	For

10. 14A Executive Compensation Vote Frequency

SECTION 14A SAY-ON-PAY VOTES

— fund support · no official result

1 YEAR 100%

No shares were cast for or against this item by the managers below — every disclosed position was an abstention or was not voted.

1 YEAR: 43,961 (100.0%)

Largest asset managers voting on “14A Executive Compensation Vote Frequency” at Hercules Capital, Inc., 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
EAGLE GLOBAL ADVISORS LLC	0	0	0	0	1 Year
McGowan Group Asset Management, Inc.	0	0	0	0	1 Year
MQS Management LLC	0	0	0	0	--

11. Advisory Vote to approve Executive Compensation

SECTION 14A SAY-ON-PAY VOTES

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (102,624 for, 0 against).

FOR: 102,624 (100.0%)

Largest asset managers voting on “Advisory Vote to approve Executive Compensation” at Hercules Capital, Inc., 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
Triad Investment Management	102,311	0	0	0	For
Cannon Financial Strategists, Inc.	313	0	0	0	For

12. To Approve, By An Advisory Vote, The Compensation Of The Company's Named Executives

SECTION 14A SAY-ON-PAY VOTES

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (464,827 for, 0 against).

FOR: 464,827 (100.0%)

Largest asset managers voting on “To Approve, By An Advisory Vote, The Compensation Of The Company's Named Executives” at Hercules Capital, Inc., 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
Melia Wealth LLC	463,664	0	0	0	For
Tandem Financial, LLC	1,163	0	0	0	For

Largest Hercules Capital, Inc. shareholders voting in 2025-2026

Ranked by the number of Hercules Capital, Inc. shares each manager voted on the most widely held ballot item of the 2025-2026 meeting, shown as a share of the 187,118,590 shares outstanding at the time of that meeting.

Top Hercules Capital, Inc. shareholders by shares voted, 2025-2026
#	Asset manager	% of shares outstanding
1	Putnam	1.23%
2	VAN ECK ASSOCIATES CORP	1.06%
3	VanEck ETF Trust	1.06%
4	Citadel	0.64%
5	Amova Asset Management Co., Ltd.	0.55%
6	STIFEL NICOLAUS & CO INC \MO\	0.54%
7	Two Sigma	0.38%
8	BlackRock	0.34%
9	Gilman Hill Asset Management, LLC	0.29%
10	WELLS FARGO CLEARING SERVICES, LLC	0.25%

Reported Hercules Capital, Inc. ownership

Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).

Hercules Capital, Inc. beneficial owners on record for the 2025-2026 proxy season
Holder	% outstanding	Disclosure
Kingdom Holding Company	5.03%	DEF14A
Scott Bluestein	1.33%	DEF14A
Two Sigma	1.24%	13F
D.E. Shaw	0.83%	13F
Citadel Advisors	0.73%	13F
Franklin Templeton	0.61%	13F
Morgan Stanley	0.60%	13F
Millennium Management	0.53%	13F
JPMorgan Chase	0.47%	13F
BlackRock	0.46%	13F

Percentages above are of 187,118,590 shares outstanding, as reported by Hercules Capital, Inc. on its Form 10-Q dated 2026-04-28 (see the filing on EDGAR). This is the count contemporaneous with the 2025-2026 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from Hercules Capital, Inc.’s 10-Q dated 2026-04-28. This page is a static snapshot rebuilt weekly on 04 October 2026; a live search always shows the current data.

At Hercules Capital, Inc.'s shareholder meeting held 2026-06-18, in the 2025-2026 proxy season, 244 asset managers reported how they voted in their SEC Form N-PX filings, covering 723 separate fund positions. Their filings are grouped here into 12 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. No official Form 8-K vote tally has been matched to this meeting, so this page states no certified outcome for its most widely held ballot item. On that item — Advisory vote to approve the Company's named executive officer compensation. — the reporting funds cast 94% of the shares they voted in favour (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side). That is the aggregate of those managers' own N-PX disclosures, not the company's certified result, and the funds are a subset of all shareholders.

Hercules Capital, Inc. proxy season coverage: 2023-2024 · 2024-2025 · 2025-2026 (this page).