Company: PDCC
Filing Date: 2025-09-16
Form Type: N-2/A
Source: 0001214659-25-013826
Chunk: 194

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-16
Form: N-2/A
Chunk 194
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, with the term of office of only one
of the three classes expiring each year. A classified board may render a change in control of us or removal of our incumbent management
more difficult. We believe, however, that the longer time required to elect a majority of a classified board of directors helps to ensure
the continuity and stability of our management and policies.

| 123 |

Number of Directors; Removal; Vacancies.
Our certificate of incorporation provides that the number of directors will be set only by the board of directors in accordance with our
bylaws. Our bylaws provide that a majority of our entire board of directors may at any time increase or decrease the number of directors.

However, unless our bylaws are amended, the number
of directors may never be less than four nor more than eight. Under the DGCL, unless the certificate of incorporation provides otherwise
(which our certificate of incorporation does not), directors on a classified board such as our board of directors may be removed only
for cause, by the affirmative vote of stockholders. Under our certificate of incorporation and bylaws and subject to applicable stockholder
election requirements of the 1940 Act, any vacancy on the board of directors, including a vacancy resulting from an enlargement of the
board of directors, may be filled only by vote of a majority of the directors then in office. The limitations on the ability of our stockholders
to remove directors and fill vacancies could make it more difficult for a third-party to acquire, or discourage a third-party from seeking
to acquire, control of us.

Action by Stockholders. Under our
certificate of incorporation, stockholder action can be taken only at an annual or special meeting of stockholders or by unanimous written
consent in lieu of a meeting. This may have the effect of delaying consideration of a stockholder proposal until the next annual meeting.

Advance Notice Provisions for Stockholder Nominations and Stockholder Proposals. Our bylaws provide that with respect to an annual meeting of stockholders, nominations
of persons for election to the board of directors and the proposal of business to be considered by stockholders may be made only (1) by
or at the direction of the board of directors, (2) pursuant to our notice of meeting, or (3) by a stockholder who is entitled to vote
at the meeting and who has complied with the advance notice procedures of the bylaws. Nominations of persons for election to the board
of directors at a special meeting may be made only (