Monroe Capital Corp 2025年度报告

(Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December31, 2025OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YesNo Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YesNo Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to suchfiling requirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, oran emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Large accelerated filer Accelerated filer Non-accelerated filer Smaller reporting company 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 anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internalcontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm thatprepared or issued its audit report. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included inthe filing reflect the correction of an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensationreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b). Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesNo As of March4, 2026, the registrant had21,666,340shares of common stock, $0.001 par value, outstanding. Portions of the registrant's definitive proxy statement to be filed with the Securities and Exchange Commission pursuant to Regulation 14A relatingto the registrant's 2026 Annual Meeting of Stockholders, to be filed with the Securities and Exchange Commission within 120 days following the end ofthe Company's fiscal year, are incorporated by reference in Part III of this Annual Report on Form 10-K as indicated herein. TABLE OF CONTENTS PagePART I5Item 1. Business5Item 1A. Risk Factors36Item 1B. Unresolved Staff Comments77Item 1C. Cybersecurity77Item 2. Properties80Item 3. Legal Proceedings80Item 4. Mine Safety Disclosures80PART II80Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities80Item 6. [Reserved]87Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations88Item 7A. Quantitative and Qualitative Disclosures About Market Risk115Item 8. Financial Statements and Supplementary Data116Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure116Item 9A. Controls and Procedures117Item 9B. Other Information117Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections117PART III118Item 10. Directors, Executive Officers and Corporate Governance118Item 11. Executive Compensation118Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters118Item 13. Certain Relationships and Related Transactions, and Director Independence118Item 14. Principal Accountant Fees and Services118PART IV119Item 15. Exhibits and Financial Statement Schedules119Item 16. Form 10-K Summary123Signatures124 CERTAIN DEFINITIONS Except as otherwise specified in this Annual Report on Form 10-K (“Annual Report”), the terms: •“we,” “us,” “our” and the “Company” refer to Monroe Capital Corporation, a Maryland corporation, and its co