Company: FCRX
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023153
Chunk: 280

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1
Chunk 280
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, and 2022, the Company incurred income incentive fees of $18,855, $17,451 and $11,214, of which $145, $276 and $538, respectively, were waived. As of December 31, 2024, and 2023, income incentive fees of $4,305 and $4,770, respectively, were unpaid. GAAP Incentive Fee on Cumulative Unrealized Capital Appreciation The Company accrues, but does not pay, a portion of the incentive fee based on capital gains with respect to net unrealized appreciation. Under GAAP, the Company is required to accrue an incentive fee based on capital gains that includes net realized capital gains and losses and net unrealized capital appreciation and depreciation on investments held at the end of each period. In calculating the accrual for the incentive fee based on capital gains, the Company considers the cumulative aggregate unrealized capital appreciation in the calculation, since an incentive fee based on capital gains would be payable if such unrealized capital appreciation were realized, even though such unrealized capital appreciation is not permitted to be considered in calculating the fee payable under the Investment Advisory Agreement. This accrual is calculated using the aggregate cumulative realized capital gains and losses and aggregate cumulative unrealized capital appreciation or depreciation. If such amount is positive at the end of a period, then the Company records a capital gains incentive fee equal to 17.5% of such amount, minus the aggregate amount of actual incentive fees based on capital gains paid in all prior periods. If such amount is negative, then there is no accrual for such period. There can be no assurance that such unrealized capital appreciation will be realized in the future. For the years ended December 31, 2024, 2023, and 2022, the Company recorded an accrual (reversal) of capital gains incentive fees on unrealized capital appreciation of $0, $0 and $(6,324), respectively. As of December 31, 2024, and 2023, no capital gains incentive fees remain outstanding. 	Other Related Party Transactions From time to time, the Administrator may pay amounts owed by the Company to third-party providers of goods or services, including the Board, and the Company will subsequently reimburse the Administrator for such amounts paid on its behalf. Amounts payable to the Administrator are settled in the normal course of business without formal payment terms.   A portion of the outstanding shares of the Company’s common stock is owned by Crescent, its employees and