[Form 4] Great Elm Capital. Corp. Insider Trading Activity

Rhea-AI Filing Summary

Great Elm Strategic Partnership I, LLC, identified as a Director and 10% owner of Great Elm Capital Corp. (GECC), reported two open-market sales of common stock at $11.20 per share. On 08/18/2025 it sold 363 shares, leaving 1,747,419 shares beneficially owned. On 08/20/2025 it sold 7,793 shares, leaving 1,739,626 shares beneficially owned. The Form 4 is signed by an attorney-in-fact.

Positive

• Timely disclosure of insider transactions via Form 4, including signature by attorney-in-fact

Negative

• Insider dispositions totaling 8,156 shares (sales at $11.20), which reduce the reporting person's beneficial ownership

Insights

Securities Analyst

TL;DR: Insider sold 8,156 shares in two transactions at $11.20, a routine disclosure without further context.

The filings show two small open-market dispositions totaling 8,156 shares at $11.20 each, reducing beneficial ownership from 1,747,419 to 1,739,626 shares. There is no accompanying information about a Rule 10b5-1 plan or the reason for the sales. On face value this is a standard Section 16 disclosure of insider selling; its materiality depends on the reporting persons overall stake and company market cap, which are not provided in the filing.

Corporate Governance Expert

TL;DR: Director and 10% owner disclosed modest share sales; filing appears compliant but offers no explanation for dispositions.

The report lists the reporter as both a Director and 10% owner, and records two sales on 08/18/2025 and 08/20/2025. The Form 4 is signed by an attorney-in-fact, indicating proper execution. The filing does not state whether the trades were pursuant to an automated plan or routine liquidity needs, so governance implications cannot be fully assessed from this document alone.

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
Estimated average burden
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)
08/18/2025

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	08/18/2025		S		363	D	$11.2	1,747,419	D
Common Stock	08/20/2025		S		7,793	D	$11.2	1,739,626	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	08/20/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider sold shares of GECC according to this Form 4?

The seller is Great Elm Strategic Partnership I, LLC, identified as a Director and 10% owner of GECC.

How many GECC shares were sold and at what price?

Two sales totaling 8,156 shares were reported: 363 shares on 08/18/2025 and 7,793 shares on 08/20/2025, each priced at $11.20.

How many GECC shares does the reporting person own after these transactions?

Beneficial ownership after the transactions is reported as 1,739,626 shares.

Was the sale reported as part of a 10b5-1 trading plan?

The Form 4 does not indicate that the transactions were made pursuant to a Rule 10b5-1 plan.

Who signed the Form 4?

The form was signed on behalf of the reporting person by /s/ Adam M. Kleinman, attorney-in-fact on 08/20/2025.