GECC: 10% Owner Sells 38,793 Shares at $10.95 – Form 4 Insight

Form 4 highlights for Great Elm Capital Corp. (GECC) On 11 July 2025, 10% owner Great Elm Strategic Partnership I, LLC filed a Form 4 reporting an open-market sale of GECC common stock.

Rhea-AI Filing Summary

Form 4 highlights for Great Elm Capital Corp. (GECC)

On 11 July 2025, 10% owner Great Elm Strategic Partnership I, LLC filed a Form 4 reporting an open-market sale of GECC common stock.

• Shares sold: 38,793
• Sale price: $10.95 per share (as reported)
• Post-transaction ownership: 1,747,782 GECC shares held directly

No derivative security transactions were reported, and there were no additional acquisitions or dispositions disclosed in the filing.

The transaction represents a reduction of approximately 2.2% of the reporting person’s prior direct holdings, leaving the entity well above the 10% ownership threshold.

Positive

• None.

Negative

• Insider sale: 38,793 shares sold by a 10% owner could signal reduced confidence, albeit modest in size.

Insights

Financial Analyst

TL;DR: 10% holder trims stake by ~39k shares; modest negative signal, low impact.

The filing shows a routine sale of 38,793 GECC shares at $10.95 by Great Elm Strategic Partnership I, LLC, reducing its position to 1.75 million shares. The disposal amounts to roughly 2.2% of its prior holdings and does not materially alter control dynamics. No derivatives or multiple transactions were reported, suggesting a single liquidity event rather than a strategic exit. While insider sales can weigh on sentiment, the small size relative to total ownership and lack of accompanying negative developments point to limited fundamental impact.

Insider Trade Summary

Net Seller: 38,793 shares

Net Sell 1 txn

Insider Great Elm Strategic Partnership I, LLC

Role 10% Owner

Sold 38,793 shs ($425K)

Type	Security	Shares	Price	Value
Sale	Common Stock	38,793	$10.95	$425K

Holdings After Transaction: Common Stock — 1,747,782 shares (Direct)

FAQ

How many GECC shares did the 10% owner sell?

The filing reports a sale of 38,793 GECC common shares.

At what price were the GECC shares sold?

The reported sale price is $10.95 per share.

What is the insider’s remaining GECC shareholding?

After the transaction, the insider directly owns 1,747,782 shares.

Were any derivative securities involved in this Form 4?

No. Table II shows no derivative security transactions.

Does the filing indicate a Rule 10b5-1 trading plan?

The Form 4 includes the checkbox but does not indicate that this sale was made under a Rule 10b5-1 plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/14/2025 - 07:02 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Great Elm Strategic Partnership I, LLC

(Last) (First) (Middle)

800 BOYLSTON STREET, SUITE 900

(Street)

BOSTON MA 02199

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Great Elm Capital Corp. [ GECC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/11/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/11/2025		S		38,793	D	$10.95	1,747,782	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	/s/ Adam M. Kleinman, attorney-in-fact	07/14/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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