Company: NMFCZ
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0001140361-25-012061
Chunk: 14

Company: New Mountain Finance Corp
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 14
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6 to 2018. |

18

TABLE OF CONTENTS Director Independence In accordance with rules of The NASDAQ Stock Market LLC (“NASDAQ”), NMFC’s board of directors annually determines each director’s independence. We do not consider a director independent unless the board of directors has determined that he or she has no material relationship with us. We monitor the relationships of our directors and officers through a questionnaire each director and officer completes no less frequently than annually and updates periodically as information provided in the most recent questionnaire changes. We encourage any director who has previously been determined to be independent to inform the chairman of the board of directors, the chairman of the nominating and corporate governance committee or the Corporate Secretary of any change in circumstance that may cause his or her status as an independent director to change. The board of directors limits membership on the audit committee, the valuation committee, the nominating and corporate governance committee and the compensation committee to Independent Directors (defined below). In order to evaluate the materiality of any such relationship, the board of directors uses the definition of director independence set forth in the rules promulgated by NASDAQ. NASDAQ Listing Rule 5605(a)(2) provides that a director of a business development company, shall be considered to be independent if he or she is not an “interested person” of the Company, as defined in Section 2(a)(19) of the 1940 Act (“Independent Directors”). The board of directors has determined that each of the directors and the director nominees are independent and has no relationship with us, except as a director and stockholder of NMFC, with the exception of Steven B. Klinsky, as a result of his positions as Founder and Chief Executive Officer of New Mountain Capital, L.L.C., Robert A. Hamwee, as a result of his position as a member of the investment committee of the Investment Adviser, Adam B. Weinstein, as a result of his positions as Executive Vice President and Chief Administrative Officer of NMFC and John R. Kline, as a result of his positions as President and Chief Executive Officer of NMFC. Board of Directors Leadership Structure NMFC’s board of directors monitors and performs an oversight role with respect to NMFC’s business and affairs, compliance with regulatory requirements and the services, expenses and performance of service providers to NMFC. Among other things, NMFC’s board of directors approves the appointment of the Administrator and officers, reviews and monitors the services and activities performed by the Administrator and officers and approves the engagement, and reviews the performance of, NM