# EDGAR Filing Document

**Accession Number:** 0001396440
**File Stem:** 0001396440-26-000005
**Filing Date:** 2026-1
**Character Count:** 22873
**Document Hash:** b8aa1f7befedcfd2c812cadf99f294d1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001396440-26-000005.hdr.sgml**: 20260115

**ACCESSION NUMBER**: 0001396440-26-000005

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260115

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260115

**DATE AS OF CHANGE**: 20260115

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Main Street Capital CORP
- **CENTRAL INDEX KEY:** 0001396440

**ORGANIZATION NAME:**
- **EIN:** 412230745
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 814-00746
- **FILM NUMBER:** 26535054

**BUSINESS ADDRESS:**
- **STREET 1:** 1300 POST OAK BOULEVARD
- **STREET 2:** 8TH FLOOR
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77056
- **BUSINESS PHONE:** (713) 350-6000

**MAIL ADDRESS:**
- **STREET 1:** 1300 POST OAK BOULEVARD
- **STREET 2:** 8TH FLOOR
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77056

?xml version='1.0' encoding='ASCII'? main-20260115

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

__________________________________________________________________________

**FORM 8-K**

__________________________________________________________________________

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d) of**

**the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported) **January 15, 2026**

__________________________________________________________________________

**Main Street Capital Corporation**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Maryland** | **814-00746** | **41-2230745** |
| (State or other jurisdiction<br>of incorporation)<br>| (Commission File Number) | (IRS Employer Identification No.) |

---

---

| | |
|:---|:---|
| **1300 Post Oak Boulevard, 8th Floor, Houston, Texas** | **77056** |
| (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **(713)350-6000**

Not Applicable

___________________________________________________________________________________

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the

registrant under any of the following provisions:

□ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

□ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

□ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

□ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | |
|:---|:---|
| **<u>Title of each class</u>** | **<u>Name of each exchange on which registered</u>** |
| Common Stock, par value $0.01 per share<br> MAIN | New York Stock Exchange<br>NYSE Texas<br>|

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act

of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company □

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition

period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the

Exchange Act. □

**Item 2.02** **Results of Operations and Financial Condition.**

On January 15, 2026, the Registrant issued a press release announcing certain preliminary estimates of its financial

condition and results of operations for its fiscal year endedDecember 31, 2025, as well as other information. A copy of

such press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information disclosed herein, including Exhibit 99.1 hereto, shall be deemed "filed" for purposes of Section 18 of the

Securities Exchange Act of 1934, as amended, and shall be deemed incorporated by reference into the Registrant's filings

made under the Securities Act of 1933, as amended; provided, however, that information contained on the Registrant's

website referred to in the press release attached hereto as Exhibit 99.1 is not incorporated by reference herein or in Exhibit

99.1 and is not a part of this Form 8-K or Exhibit 99.1.

**Item 9.01** **Financial Statements and Exhibits.**

(d) Exhibits

---

| | |
|:---|:---|
| <u>[99.1](main-q42025xprexerxexx991.htm)</u> | <u>[Press release dated January 15, 2026](main-q42025xprexerxexx991.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to

be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **Main Street Capital Corporation** | **Main Street Capital Corporation** |
| Date: January 15, 2026 | By: | */s/ Jason B. Beauvais* |
|  |  | Name:&nbsp;&nbsp;&nbsp;&nbsp;Jason B. Beauvais |
|  |  | Title:&nbsp;&nbsp;&nbsp;&nbsp; General Counsel |

---

## Exhibit 99.1

**Exhibit 99.1**

---

| | |
|:---|:---|
| ![mainsta.jpg](mainsta.jpg) | ***NEWS RELEASE*** |
|  | Contacts:<br><u>Main Street Capital Corporation</u><br>Dwayne L. Hyzak, CEO, dhyzak@mainstcapital.com<br>Ryan R. Nelson, CFO, rnelson@mainstcapital.com<br>713-350-6000<br><u>Dennard Lascar Investor Relations</u><br>Ken Dennard / ken@dennardlascar.com<br>Zach Vaughan / zvaughan@dennardlascar.com<br>713-529-6600<br>|

---

**Main Street Announces Preliminary Estimate of Fourth Quarter 2025**

**Operating Results**

**Announces Federal Tax Treatment of 2025 Dividends**

**Announces Fourth Quarter and Full Year 2025 Earnings Release and Conference Call** 

**Schedule**

**HOUSTON – January 15, 2026 –** Main Street Capital Corporation (NYSE: MAIN) ("Main

Street" or the "Company") is pleased to announce its preliminary operating results for the fourth

quarter of 2025, the federal tax treatment of its dividends paid in 2025 and its fourth quarter and

full year 2025 earnings release and conference call schedule.

In commenting on the Company's preliminary operating results for the fourth quarter of 2025,

Dwayne L. Hyzak, Main Street's Chief Executive Officer, stated, "We are extremely pleased

with our continued strong performance in the fourth quarter, which closed another great year for

Main Street across our key financial metrics, including several new quarterly and annual records.

Our preliminary operating results highlight that our fourth quarter performance resulted in

another quarter of strong operating results, including favorable distributable net investment

income per share and a new record for net asset value per share for the fourteenth consecutive

quarter, primarily driven by a significant net fair value increase and including the benefits of

material net realized gains in both our lower middle market and private loan investment

portfolios. We also produced extremely strong fourth quarter investment activity in our unique

lower middle market investment strategy, resulting in an annual record for gross investments of

approximately $700 million in 2025. Our fourth quarter results continued our positive

performance over the last few years and resulted in an estimated return on equity of over 17% for

the quarter and for the full year. We look forward to sharing the full details of our fourth quarter

and full year 2025 results in late February."

**<u>Preliminary Estimates of</u> <u>Fourth</u> <u>Quarter</u> <u>2025</u> <u>Results</u>**

Main Street's preliminary estimate of fourth quarter2025 net investment income ("NII") is $1.01

to $1.05 per share, distributable net investment income ("DNII")<sup>(1)</sup> is $1.07 to $1.11 per share

and DNII before taxes<sup>(2)</sup> is $1.09 to $1.13 per share.

Main Street's preliminary estimate of net asset value ("NAV") per share as of December 31,

2025 is $33.29 to $33.37, representing an increase of $0.51 to $0.59 per share, or 1.5% to 1.8%,

from the NAV per share of $32.78 as of September 30, 2025, with this increase after the impact

of the supplemental dividend paid in December 2025 of $0.30 per share. The estimated NAV per

share increase is primarily due to the net fair value increase of the investment portfolio and the

accretive impact of equity issuances, partially offset by the net tax provision for the quarter. The

net fair value increase of the existing investment portfolio is primarily the result of net fair value

increases of the existing lower middle market ("LMM") and private loan investment portfolios,

partially offset by net fair value decreases of the wholly-owned asset manager and the residual

middle market investment portfolio.

As a result of Main Street's preliminary estimates of NII, the net changes in the fair value of the

investment portfolio and the net tax provision as noted above, Main Street estimates that it

generated a return on equity of over 17% for both the fourth quarter on an annualized basis and

for the full year of 2025.<sup>(3)</sup>

Main Street preliminarily estimates that investments on non-accrual status comprised 1.0% of the

total investment portfolio at fair value and 3.3% at cost as of December 31, 2025.

**Investment Portfolio Activity**

The Company's fourth quarter2025 operating activities include the following investment activity

in the LMM and private loan investment strategies:

• $300.0 million in total LMM portfolio investments, which after aggregate repayments

andreturn of invested equity capital, including a decrease in cost basis associated with

the exits of several LMM portfolio investments,resulted in a net increase of $253.1

million in the total cost basis of the LMM investment portfolio; and

• $231.4 million in total private loan portfolio investments,which after aggregate

repayments, return of invested equity capital associated with the exit of two private loan

portfolio investments anda decrease in cost basis due to a realized loss on a private loan

portfolio investment resulted in a net increase of $108.8 million in the total cost basis of

the private loan investment portfolio.

**<u>Federal Tax Treatment of</u> <u>2025</u> <u>Dividends</u>**

Main Street has posted information regarding the U.S. federal income tax characteristics of its

dividends paid in 2025 on its website under "2025 Form 1099 Information" (<u>https://</u>

<u>www.mainstcapital.com/investors/listed-securities-information/tax-information</u>).<sup>(4)</sup> Main Street

paid dividends totaling $4.23 per share in 2025, with approximately 8% of such dividends taxed

as qualified dividends and approximately 92% taxed as ordinary income. Qualified dividends

paid to non-corporate taxpayers (including individuals) qualify for favorable tax treatment under

the Internal Revenue Code ("IRC") and, for 2025, will generally be subject to a maximum 20%

U.S. federal income tax rate (plus a 3.8% Medicare surtax, if applicable).

**<u>Federal Tax Treatment of</u> <u>2025</u> <u>Dividends – Non-U.S. Shareholders</u>**

Non-U.S. resident and foreign corporation shareholders ("Non-U.S. Shareholders") in a

Regulated Investment Company ("RIC"), such as Main Street, are exempt from U.S. withholding

tax on both "interest-related" dividends and short-term capital gains in accordance with the IRC

Sections 871(k) and 881(e). In addition, Non-U.S. Shareholders in a RIC are also exempt from

U.S. withholding tax on long-term capital gains. Main Street paid dividends totaling $4.23 per

share in 2025, with approximately 47% of such dividends relating to "interest-related" dividends

and short-term capital gains. See "Tax Treatment of 2025 Dividends to Non-U.S. Shareholders"

posted on Main Street's website for more details (<u>https://www.mainstcapital.com/investors/</u>

<u>listed-securities-information/tax-information</u>).<sup>(4)</sup>

To the extent Non-U.S. Shareholder taxes were withheld on dividends distributed, this

information may be considered in connection with any claims for refund on taxes made with the

U.S. Internal Revenue Service. Non-U.S. Shareholders should contact their tax advisor with any

questions regarding this information.

**<u>Fourth</u> <u>Quarter and Full Year</u> <u>2025</u> <u>Earnings Release and Conference Call Schedule</u>**

Main Street will release its fourth quarter and full year 2025 results on Thursday, February 26,

2026, after the financial markets close. In conjunction with the release, Main Street has

scheduled a conference call, which will be broadcast live via phone and over the Internet, on

Friday, February 27, 2026, at 10:00 a.m. Eastern time. Investors may participate either by phone

or audio webcast.<sup>(4)</sup>

**By Phone:**Dial 412-902-0030 at least 10 minutes before the call. A replay will be

available through March 6, 2026 by dialing 201-612-7415 and using the

access code 13757959#.

**By Webcast:**Connect to the webcast via the Investor Relations section of Main Street's

website at www.mainstcapital.com. Please log in at least 10 minutes in

advance to register and download any necessary software. A replay of the

conference call will be available on Main Street's website shortly after the call

and will be accessible until the date of Main Street's earnings release for the

next quarter.

**ABOUT MAIN STREET CAPITAL CORPORATION**

Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides

customized long-term debt and equity capital solutions to lower middle market companies and

debt capital to private companies owned by or in the process of being acquired by a private

equity fund. Main Street's portfolio investments are typically made to support management

buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that

operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business

owners and management teams and generally provides customized "one-stop" debt and equity

financing solutions within its lower middle market investment strategy. Main Street seeks to

partner with private equity fund sponsors and primarily invests in secured debt investments in its

private loan investment strategy. Main Street's lower middle market portfolio companies

generally have annual revenues between $10 million and $150 million. Main Street's private

loan portfolio companies generally have annual revenues between $25 million and $500 million.

Main Street, through its wholly-owned portfolio company MSC Adviser I, LLC ("MSC

Adviser"), also maintains an asset management business through which it manages investments

for external parties. MSC Adviser is registered as an investment adviser under the Investment

Advisers Act of 1940, as amended.

**FORWARD-LOOKING STATEMENTS AND OTHER MATTERS**

Main Street cautions that statements in this press release which are forward-looking and provide

other than historical information, including but not limited to the preliminary estimates of fourth

quarter and full year 2025 financial information and results, are based on current conditions and

information available to Main Street as of the date hereof. Although its management believes that

the expectations reflected in those forward-looking statements are reasonable, Main Street can

give no assurance that those expectations will prove to be correct. Those forward-looking

statements are made based on various underlying assumptions and are subject to numerous

uncertainties and risks, including, without limitation, such factors described under the captions

"Cautionary Statement Concerning Forward-Looking Statements" and "Risk Factors" included

in Main Street's filings with the U.S. Securities and Exchange Commission (the "SEC")

(www.sec.gov). Main Street undertakes no obligation to update the information contained herein

to reflect subsequently occurring events or circumstances, except as required by applicable

securities laws and regulations.

The preliminary estimates of fourth quarter and full year 2025 financial information and results

furnished above are based on Main Street management's preliminary determinations and current

expectations, and such information is inherently uncertain. The preliminary estimates provided

herein have been prepared by, and are the responsibility of, management and are subject to

completion of Main Street's customary year-end closing and review procedures and third-party

audit, including the determination of the fair value of Main Street's portfolio investments. As a

result, actual results could differ materially from the current preliminary estimates based on

adjustments made during Main Street's year-end closing and review procedures and third-party

audit, and Main Street's reported information in its Annual Report on Form 10-K for the year

endedDecember 31, 2025 may differ from this information, and any such differences may be

material. In addition, the information furnished above does not include all of the information

regarding Main Street's financial condition and results of operations for the fourth quarter and

full year periods ended December 31, 2025 that may be important to readers. As a result, readers

are cautioned not to place undue reliance on the information furnished in this press release and

should view this information in the context of Main Street's full fourth quarter and full year 2025

results when such results are disclosed by Main Street in its Annual Report on Form 10-K for the

year endedDecember 31, 2025. The information furnished in this press release is based on Main

Street management's current expectations that involve substantial risks and uncertainties that

could cause actual results to differ materially from the results expressed in, or implied by, such

information.

Neither this press release nor the 2025 Form 1099 Information or the Tax Treatment of 2025

Dividends to Non-U.S. Shareholders information referenced above is intended to constitute tax,

legal, investment or other professional advice. This is general information and reference should

be made to your 2025 Form 1099-DIV for tax reporting purposes. Shareholders should receive

their 2025 Form 1099-DIVs by mid-February 2026 (generally from their brokers) and should

consult a tax advisor for tax guidance pertinent to their specific facts and circumstances. If you

did not hold Main Street stock for all of calendar year 2025, your 1099-DIV will only reflect the

tax characteristics for the portion of the year you owned Main Street stock.

Main Street has an existing effective Registration Statement on Form N-2 on file with the SEC

relating to the offer and sale from time to time of its securities. Investors are advised to carefully

consider the investment objective, risks and charges and expenses of Main Street before

investing in any of Main Street's securities. The prospectus included in the Registration

Statement on Form N-2, together with any related prospectus supplement, contain this and other

information about Main Street and should be read carefully before investing. A copy of the

prospectus and any related prospectus supplement may be obtained by contacting Main Street.

**<u>Endnotes</u>**

(1)DNII is NII as determined in accordance with U.S. Generally Accepted Accounting

Principles, or U.S. GAAP, excluding the impact of non-cash compensation expenses,

which includes both share-based compensation expenses and deferred compensation

expense or benefit. Main Street believes presenting DNII per share is useful and

appropriate supplemental disclosure for analyzing its financial performance since (i)

share-based compensation does not require settlement in cash and (ii) deferred

compensation expense or benefit does not result in a net cash impact to Main Street

upon settlement. However, DNII is a non-U.S. GAAP measure and should not be

considered as a replacement for NII and other earnings measures presented in

accordance with U.S. GAAP. Instead, DNII should be reviewed only in connection

with such U.S. GAAP measures in analyzing Main Street's financial performance. In

order to reconcile estimated DNII per share to estimated NII per share in accordance

with U.S. GAAP for the fourth quarter of 2025, an estimated $0.07 per share of non-

cash compensation expenses are added back to estimated NII to calculate estimated

DNII per share.

(2)DNII before taxes is NII before taxes as determined in accordance with U.S. GAAP,

excluding the impact of non-cash compensation expenses, which includes both share-

based compensation expenses and deferred compensation expense or benefit. Main

Street believes presenting DNII before taxes per share is useful and appropriate

supplemental disclosure for analyzing its financial performance since (i) share-based

compensation does not require settlement in cash, (ii) deferred compensation expense

or benefit does not result in a net cash impact to Main Street upon settlement and (iii)

tax expenses may include (a) excise tax expense, which is not solely attributable to

NII, and (b) deferred taxes, which are not payable in the current period. However,

DNII before taxes is a non-U.S. GAAP measure and should not be considered as a

replacement for NII, NII before taxes and other earnings measures presented in

accordance with U.S. GAAP. Instead, DNII before taxes should be reviewed only in

connection with such U.S. GAAP measures in analyzing Main Street's financial

performance. In order to reconcile estimated DNII before taxes per share to estimated

NII per share in accordance with U.S. GAAP for the fourth quarter of 2025, an

estimated $0.07 per share of non-cash compensation expenses and an estimated $0.02

per share of NII related tax expenses are added back to estimated NII to calculate

estimated DNII before taxes per share.

(3)Return on equity equals the net increase in net assets resulting from operations

divided by the average quarterly total net assets.

(4)No information contained on the Company's website or disclosed on the February 27,

2026 conference call, including the webcast and the archived versions, is incorporated

by reference in this press release or any of the Company's filings with the SEC, and

you should not consider that information to be part of this press release or any other

such filing.