Management Change/Compensation (Form 8-K)

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 6, 2025, Charles Riceman and Varagon Capital Corporation (the "Company") agreed that Mr. Riceman will retire from his position as Co-President of the Company, effective immediately. Mr. Riceman's retirement is not a result of any disagreement with the Company's operations, policies or practices. In connection with the foregoing, Kevin Marchetti, who along with Mr. Riceman was Co-President of the Company, was appointed as the President of the Company by the Company's board of directors, effective immediately. Mr. Marchetti's role with the Company will not change as a result of his new title.