NexPoint BDC Realigns Board After Director’s Death, Reports NAV Decline

NexPoint Capital Inc., a publicly registered non-traded business development company, announced a formal realignment of its board of directors following the recent passing of Bryan A. Ward, a Class I director.

To maintain balanced representation across its three director classes, the board completed a structural shift involving current leadership. Effective mid-January, the board accepted the resignation of Dorri McWhorter, director, from her prior classification and reappointed her as a Class I director.

Despite the technical change in classification, McWhorter’s role within the company’s governance remains unchanged. She has resumed all previous committee assignments, most notably continuing her service as the chair of the audit committee.

The company confirmed that McWhorter’s appointment was not the result of any undisclosed arrangements with third parties. Her compensation will continue to align with the standard arrangements for non-employee directors as outlined in the company’s May 2025 proxy statement.

In addition to Ward’s passing and the recent governance changes, NexPoint Capital released its latest valuation data, showing a slight decline in its net asset value per share. The NAV per share as of Dec. 31, 2025, was $4.60, an approximate 3.16% decrease from the previous $4.75 per share NAV as of Dec. 16, 2025.

NexPoint Capital allocates a significant portion of its capital to sectors where it says it maintains specialized expertise, including large private healthcare companies; middle-market debt, i.e., targeted investments in companies with annual revenues between $50 million and $2.5 billion; corporate credit and equities, including syndicated floating rate debt of large public and nonpublic companies; and real estate sectors such as multifamily, single-family rental, self-storage, and life sciences.

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