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<DIV style="width:672px"><P style="line-height:20pt; margin:0px; font-size:18pt" align=center><B>U.S. SECURITIES AND EXCHANGE COMMISSION </B></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center><B>Washington, D.C. 20549 </B></P>
<P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="line-height:20pt; margin:0px; font-size:18pt" align=center><B>FORM 8-K </B></P>
<P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center><B>CURRENT REPORT </B></P>
<P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 </B></P>
<P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="line-height:normal; margin:0px" align=center><B>Date of Report (Date of earliest event reported): <A NAME="FIS_UNIDENTIFIED_TABLE"></A>December 11, 2009</B><FONT style="font-size:12pt">&nbsp; <BR>
</FONT></P>
<P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="line-height:20pt; margin:0px; font-size:18pt" align=center><B>Venture Lending &amp; Leasing V, Inc. </B></P>
<P style="line-height:9.5pt; margin:0px; font-size:7.5pt" align=center><B>(Exact name of registrant as specified in its charter) </B></P>
<P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=221.667></TD><TD width=13.467></TD><TD width=208.333></TD><TD width=13.467></TD><TD width=215.067></TD></TR>
<TR><TD width=221.667><P>&nbsp;</P></TD><TD valign=bottom width=13.467><P>&nbsp;</P></TD><TD width=208.333><P>&nbsp;</P></TD><TD valign=bottom width=13.467><P>&nbsp;</P></TD><TD width=215.067><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=221.667><P style="margin:0px" align=center><B>MARYLAND</B></P>
</TD><TD valign=bottom width=13.467><P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=208.333><P style="margin:0px" align=center><B>814-00731</B></P>
</TD><TD valign=bottom width=13.467><P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=215.067><P style="margin:0px" align=center><B>14-1974295</B></P>
</TD></TR>
<TR><TD valign=top width=221.667><P style="margin:0px" align=center>(State&nbsp;or&nbsp;other&nbsp;jurisdiction </P>
<P style="margin-top:0px; margin-bottom:1px" align=center>of incorporation) </P>
</TD><TD valign=bottom width=13.467><P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
</TD><TD valign=top width=208.333><P style="margin:0px" align=center>(Commission </P>
<P style="margin-top:0px; margin-bottom:1px" align=center>File Number) </P>
</TD><TD valign=bottom width=13.467><P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=215.067><P style="margin:0px" align=center>(I.R.S. Employer </P>
<P style="margin-top:0px; margin-bottom:1px" align=center>Identification No.) </P>
</TD></TR>
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<P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0px" align=center><B>2010 North First Street, Suite 310, San Jose, CA 95131</B></P>
<P style="margin:0px" align=center>(Address of principal executive offices, zip code) </P>
<P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0px" align=center>Registrant&#146;s telephone number, including area code: <B>(408) 436-8577 </B></P>
<P style="margin:0px" align=center><B>N/A </B></P>
<P style="margin:0px" align=center>(Former name or former address, if changed since last report) </P>
<P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
<P style="margin:0px">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: </P>
<P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0"><TD width=25.267></TD><TD width=646.733></TD></TR>
<TR><TD valign=top width=25.267><P style="margin:0px; font-family:Wingdings">&#168; </P>
</TD><TD valign=top width=646.733><P style="margin:0px">Written communications pursuant to Rule 425 under the Securities Act </P>
</TD></TR>
</TABLE>
<P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0"><TD width=25.267></TD><TD width=646.733></TD></TR>
<TR><TD valign=top width=25.267><P style="margin:0px; font-family:Wingdings">&#168; </P>
</TD><TD valign=top width=646.733><P style="margin:0px">Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act </P>
</TD></TR>
</TABLE>
<P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0"><TD width=25.267></TD><TD width=646.733></TD></TR>
<TR><TD valign=top width=25.267><P style="margin:0px; font-family:Wingdings">&#168; </P>
</TD><TD valign=top width=646.733><P style="margin:0px">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act </P>
</TD></TR>
</TABLE>
<P style="line-height:9.5pt; margin:0px; font-size:7.5pt">&nbsp;&nbsp;</P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0"><TD width=25.267></TD><TD width=646.733></TD></TR>
<TR><TD valign=top width=25.267><P style="margin:0px; font-family:Wingdings">&#168; </P>
</TD><TD valign=top width=646.733><P style="margin:0px">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
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<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin-top:6.667px; margin-bottom:6.667px; font-size:12pt"><B>Item&nbsp;5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </B></P>
<P style="line-height:14pt; margin-top:6.667px; margin-bottom:6.667px; text-indent:48px; font-size:12pt" align=justify>On December 11, 2009, Ronald W. Swenson resigned from the position of Chief Executive Officer of Venture Lending &amp; Leasing V, Inc. (the &#147;Company&#148;), effective as of the close of business on December 31, 2009. &nbsp;Also on December 11, 2009, the Board of Directors of the Company elected Maurice C. Werdegar to the position of Chief Executive Officer of the Company, also effective as of the close of business on December 31, 2009, to fill the vacancy created by Mr. Swenson&#146;s resignation. &nbsp;Mr. Swenson will continue to serve as a director and Chairman of the Board of the Company. &nbsp;</P>
<P style="line-height:14pt; margin-top:6.667px; margin-bottom:6.667px; text-indent:48px; font-size:12pt" align=justify>Mr. Werdegar, 44, has been a President of the Company since 2007, and prior to that, was a Vice President of the Company. &nbsp;Mr. Werdegar is also a director of the Company, and has served as a Vice President of Westech Investment Advisors, Inc., the Company&#146;s Investment Manager, since 2002. &nbsp;</P>
<P style="margin:5.533px"><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt"><B>Item 9.01 &nbsp;Financial Statements and Exhibits.</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; font-size:12pt">Exhibit Number </P>
<P style="line-height:14pt; margin:0px; text-indent:144px; font-size:12pt">Description</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; font-size:12pt">&nbsp;------------------</P>
<P style="line-height:14pt; margin:0px; text-indent:144px; font-size:12pt">--------------- </P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; font-size:12pt">None</P>
<P style="line-height:14pt; margin:0px; text-indent:48px; font-size:12pt">&nbsp;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
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<P style="margin:0px" align=center><BR></P>
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<P style="margin:0px; page-break-before:always"><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center>SIGNATURES</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; text-indent:48px; font-size:12pt" align=justify>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 duly authorized.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt">VENTURE LENDING &amp; LEASING V, INC.</P>
<P style="line-height:14pt; margin:0px; font-size:12pt">(Registrant)</P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; font-size:12pt">By:</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; text-indent:48px; font-size:12pt"><U>/s/ Ronald W. Swenson</U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; text-indent:336px; font-size:12pt">By:</P>
<P style="margin:0px; text-indent:384px; font-size:12pt"><U>/s/ Martin D. Eng</U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; font-size:12pt">Ronald W. Swenson</P>
<P style="line-height:14pt; margin:0px; text-indent:336px; font-size:12pt">Martin D. Eng</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:336px; text-indent:-336px; font-size:12pt">Chief Executive Officer</P>
<P style="line-height:14pt; margin:0px; padding-left:336px; font-size:12pt">Chief Financial Officer</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:336px; text-indent:-336px; font-size:12pt">Date: </P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:336px; text-indent:-288px; font-size:12pt">December 15, 2009</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:336px; font-size:12pt">Date:</P>
<P style="line-height:14pt; margin:0px; padding-left:336px; text-indent:48px; font-size:12pt">December 15, 2009</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR>
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<P style="margin:0px" align=center><BR></P>
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Converted by EDGARwiz
U.S. 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):
December 11, 2009
Venture Lending & Leasing V, Inc.
(Exact name of registrant as specified in its charter)
MARYLAND
814-00731
14-1974295
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
2010 North First Street, Suite 310, San Jose, CA 95131
(Address of principal executive offices, zip code)
Registrant's telephone number, including area code:
(408) 436-8577
N/A
(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
¨
Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 11, 2009, Ronald W. Swenson resigned from the position of Chief Executive Officer of Venture Lending & Leasing V, Inc. (the "Company"), effective as of the close of business on December 31, 2009.  Also on December 11, 2009, the Board of Directors of the Company elected Maurice C. Werdegar to the position of Chief Executive Officer of the Company, also effective as of the close of business on December 31, 2009, to fill the vacancy created by Mr. Swenson's resignation.  Mr. Swenson will continue to serve as a director and Chairman of the Board of the Company.
Mr. Werdegar, 44, has been a President of the Company since 2007, and prior to that, was a Vice President of the Company.  Mr. Werdegar is also a director of the Company, and has served as a Vice President of Westech Investment Advisors, Inc., the Company's Investment Manager, since 2002.
Item 9.01  Financial Statements and Exhibits.
Exhibit Number
Description
------------------
---------------
None
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 duly authorized.
VENTURE LENDING & LEASING V, INC.
(Registrant)
By:
/s/ Ronald W. Swenson
By:
/s/ Martin D. Eng
Ronald W. Swenson
Martin D. Eng
Chief Executive Officer
Chief Financial Officer
Date:
December 15, 2009
Date:
December 15, 2009