<SEC-DOCUMENT>0001193125-25-290172.txt : 20251120
<SEC-HEADER>0001193125-25-290172.hdr.sgml : 20251120
<ACCEPTANCE-DATETIME>20251120190003
ACCESSION NUMBER:		0001193125-25-290172
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251118
FILED AS OF DATE:		20251120
DATE AS OF CHANGE:		20251120

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Estes Ronald E.
		CENTRAL INDEX KEY:			0001796067
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39958
		FILM NUMBER:		251504311

	MAIL ADDRESS:	
		STREET 1:		C/O TRINITY CAPITAL INC.
		STREET 2:		3075 WEST RAY ROAD, SUITE 525
		CITY:			CHANDLER
		STATE:			AZ
		ZIP:			85226

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Trinity Capital Inc.
		CENTRAL INDEX KEY:			0001786108
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1 N. 1ST ST.
		STREET 2:		3RD FLOOR
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85004
		BUSINESS PHONE:		480.374.5350

	MAIL ADDRESS:	
		STREET 1:		1 N. 1ST ST.
		STREET 2:		3RD FLOOR
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85004
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-11-18</periodOfReport>

    <notSubjectToSection16>false</notSubjectToSection16>

    <issuer>
        <issuerCik>0001786108</issuerCik>
        <issuerName>Trinity Capital Inc.</issuerName>
        <issuerTradingSymbol>TRIN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001796067</rptOwnerCik>
            <rptOwnerName>Estes Ronald E.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O TRINITY CAPITAL INC.</rptOwnerStreet1>
            <rptOwnerStreet2>1 N. 1ST STREET, SUITE 302</rptOwnerStreet2>
            <rptOwnerCity>PHOENIX</rptOwnerCity>
            <rptOwnerState>AZ</rptOwnerState>
            <rptOwnerZipCode>85004</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-11-18</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>14.45</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>35943.696</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-11-19</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>14.43</value>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>36943.696</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10172</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By The Estes Revocable Trust, dated January 12, 1990</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Includes 3,443 restricted shares issued under the Trinity Capital Inc. 2019 Non-Employee Director Restricted Stock Plan, as amended. Such restricted shares shall vest in full on the earlier of (1) June 12, 2026 or (2) the date immediately preceding the next annual meeting of stockholders.</footnote>
        <footnote id="F2">Due to an administrative error, 3,335 shares that vested on June 11, 2025 and were subsequently transferred to The Estes Revocable Trust, dated January 12, 1990 were incorrectly shown as directly held in the Forms 4 dated August 29, 2025, September 4, 2025, September 12, 2025, September 15, 2025, and November 10, 2025. This Form 4 corrects the error in Column 5 for both shares directly held and shares indirectly held by The Estes Revocable Trust, dated January 12, 1990. There was no change in the total number of shares beneficially owned reported for the Reporting Person on any prior Form 4 as a result of this correction.</footnote>
        <footnote id="F3">The price reported in Column 4 is a weighted-average price, rounded to the nearest hundredth. These shares were purchased in multiple transactions at prices ranging from $14.40 to $14.45 per share, inclusive. The reporting person undertakes to provide upon request by the staff of the Securities and Exchange Commission, Trinity Capital Inc. (the &quot;Company&quot;), or a security holder of the Company, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Sarah Stanton, on behalf of Ronald E. Estes</signatureName>
        <signatureDate>2025-11-20</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
