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Directors Fees
6 Months Ended
Mar. 31, 2023
Directors Fees [Abstract]  
Directors Fees

Note 10. Directors Fees

 

For each of calendar year 2022 and 2023, the Company’s independent directors each receive an annual fee of $100,000. In addition, the lead independent director receives an annual retainer of $30,000; the chair of the Audit Committee receives an annual retainer of $25,000, and each of its other members receives an annual retainer of $12,500; and the chairs of the Nominating and Corporate Governance Committee and of the Compensation Committee each receive an annual retainer of $15,000 and each of the other members of these committees receive annual retainers of $8,000. The Company’s independent directors also receive a fee of $3,000 for each board meeting and $2,500 for each committee meeting that they attend.

 

No board service compensation is paid to directors who are “interested persons” of the Company (as such term is defined in the 1940 Act). For the three and six months ended March 31, 2023, the Company recognized $0.2 million, and $0.4 million for directors’ fees expense, respectively. For the three and six months ended March 31, 2022, the Company recognized $0.2 million, and $0.4 million for directors’ fees expense, respectively.