Great Elm Capital awards officer 15,292 shares

The award's later installments are subject to continued service with GECM and extend through September 20, 2029.

Rhea-AI Filing Summary

At Great Elm Capital Corp. (GECC), Chief Compliance Officer and Secretary Adam M. Kleinman received an exempt equity-compensation award of 15,292 common shares on September 21, 2026; 3,823 vested that day, with the balance vesting in equal annual installments each September 20 through September 20, 2029, subject to continued service with GECM. He also acquired 791 shares through a stock dividend associated with prior awards vesting on their anniversaries. He reported 3,451 shares delivered or withheld for payment of exercise price or tax liability; the footnote describes net share settlement of restricted-stock awards upon vesting. No Rule 10b5-1 plan is reported.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Kleinman Adam M

Role CCO and Secretary

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1	15,292	$0.00	$0.00
Grant/Award	Common Stock F2	791	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock F3	3,451	$5.37	$19K

Holdings After Transaction: Common Stock — 57,229 shares (Direct)

Footnotes (3)

1. F1. Mr. Kleinman is the Chief Compliance Officer and Secretary of Great Elm Capital Corp. ("GECC"). Mr. Kleinman received the exempt grant of an award of 15,292 shares of common stock of GECC as equity compensation for his position at GECC, 3,823 of which vested on the grant date, September 21, 2026, and the remainder of which will vest in equal annual installments on September 20th of each year until September 20, 2029, subject to continued service with GECM.
2. F2. Represents the exempt acquisition of shares of common stock of GECC as a result of a stock dividend associated with the portion of the equity compensation awarded to Mr. Kleinman in previous years that vested on the anniversary of those grant dates.
3. F3. Reflects the net share settlement of awards of restricted stock in connection with vesting thereof that is exempt pursuant to Rule 16b-3.

Key Figures

Equity-compensation award: 15,292 common shares Shares vested on grant date: 3,823 shares Stock-dividend shares: 791 common shares +2 more

5 metrics

Equity-compensation award 15,292 common shares Awarded September 21, 2026

Shares vested on grant date 3,823 shares September 21, 2026

Stock-dividend shares 791 common shares Associated with previously awarded equity compensation

Shares delivered or withheld for payment of exercise price or tax liability 3,451 shares Footnote describes net share settlement of restricted-stock awards upon vesting

Reported price per share $5.37 per share Reported with the September 21, 2026 transaction

Key Terms

exempt grant, stock dividend, net share settlement, restricted stock, +1 more

5 terms

exempt grant financial

"received the exempt grant of an award"

stock dividend financial

"as a result of a stock dividend"

A stock dividend is when a company gives its existing shareholders extra shares instead of cash. It’s like receiving more pieces of the same pie rather than a bigger piece of money, which can increase the number of shares you own but usually doesn’t change the total value of your investment right away. Investors care about it because it can signal the company's growth and affect the stock’s price.

net share settlement financial

"Reflects the net share settlement of awards"

Net share settlement is a way of paying for financial transactions using only the difference in shares rather than exchanging full amounts of stock or cash. It’s like settling a debt by giving someone the exact number of shares needed to balance the books, making trades quicker and simpler. This method helps reduce the number of shares changing hands, saving time and costs.

restricted stock financial

"awards of restricted stock in connection with vesting"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

Rule 16b-3 regulatory

"exempt pursuant to Rule 16b-3"

Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many GECC shares did Adam M. Kleinman receive as an equity award?

Adam M. Kleinman received an exempt award of 15,292 common shares on September 21, 2026; 3,823 vested on the grant date, and the remainder will vest in equal annual installments on September 20 each year until September 20, 2029, subject to continued service with GECM. No Rule 10b5-1 plan is reported.

What other GECC share transactions did Adam M. Kleinman report?

Adam M. Kleinman acquired 791 common shares from a stock dividend associated with previously awarded equity compensation that vested on an anniversary. He also reported 3,451 shares delivered or withheld for payment of exercise price or tax liability; the related footnote describes this as a net share settlement of restricted-stock awards upon vesting.

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

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Available on EDGAR 09/23/2026 - 04:28 PM Accepted by SEC EDGAR 09/23/2026 - 04:27 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
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^*

Kleinman Adam M

(Last) (First) (Middle)

C/O GREAT ELM CAPITAL CORP.

3801 PGA BOULEVARD, SUITE 603

(Street)

PALM BEACH GARDENS FLORIDA 33410

(City) (State) (Zip)

UNITED STATES

(Country)

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		10% Owner
X	Officer (give title below)		Other (specify below)
	CCO and Secretary

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/21/2026

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

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

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

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	09/21/2026		A(1)		15,292	A	$0	59,889	D
Common Stock	09/21/2026		A(2)		791	A	$0	60,680	D
Common Stock	09/21/2026		F(3)		3,451	D	$5.37	57,229	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:

1. Mr. Kleinman is the Chief Compliance Officer and Secretary of Great Elm Capital Corp. ("GECC"). Mr. Kleinman received the exempt grant of an award of 15,292 shares of common stock of GECC as equity compensation for his position at GECC, 3,823 of which vested on the grant date, September 21, 2026, and the remainder of which will vest in equal annual installments on September 20th of each year until September 20, 2029, subject to continued service with GECM.

2. Represents the exempt acquisition of shares of common stock of GECC as a result of a stock dividend associated with the portion of the equity compensation awarded to Mr. Kleinman in previous years that vested on the anniversary of those grant dates.

3. Reflects the net share settlement of awards of restricted stock in connection with vesting thereof that is exempt pursuant to Rule 16b-3.

	/s/ Adam M. Kleinman	09/23/2026
	** 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.
* Form 4: SEC 1474 (03-26)