[Form 4] Great Elm Capital Corp. Insider Trading Activity
Rhea-AI Filing Summary
Adam M. Kleinman, Chief Compliance Officer and Secretary of Great Elm Capital Corp. (GECC), reported changes in his beneficial ownership on Form 4. On September 19, 2025 he received an exempt grant of 5,458 shares of common stock as equity compensation, of which 1,365 vested immediately and the remainder vests in equal annual installments through September 20, 2028, subject to continued service. Also on September 19 he received 156 shares in connection with a stock dividend tied to prior vested awards. On September 23, 2025 he disposed of 1,361 shares through net share settlement related to vesting at a reported price of $11.43, leaving him with 44,597 shares following the transactions.
Positive
- None.
Negative
- None.
Insights
TL;DR: Routine insider equity compensation and a small net settlement sale; no material change to control or capital structure.
The Form 4 shows an equity compensation grant and related vesting activity for a senior officer. The grant of 5,458 shares with staged vesting through 2028 is standard for retention and aligns executive incentives with shareholder value over time. The net share settlement of 1,361 shares at $11.43 appears to be a tax or withholding-related disposition tied to vesting rather than an open-market liquidation, and the resulting beneficial ownership remains modest at 44,597 shares. There are no indications of any other cash purchases, pledges, or derivative transactions in this filing.
TL;DR: Governance-wise this is routine: exempt grant, dividend adjustment and net settlement consistent with Rule 16b-3 exemptions.
The reporting clarifies that the initial award and subsequent dividend-related shares are treated as exempt grants and that net share settlement is pursuant to restricted stock vesting exemptions. Vesting schedule is time-based and contingent on continued service, which is a common retention tool. Disclosure is complete regarding the nature and timing of transactions, and the signature certifies the reporting under Section 16 requirements.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 1,361 | $11.43 | $16K |
| Grant/Award | Common Stock | 5,458 | $0.00 | -- |
| Grant/Award | Common Stock | 156 | $0.00 | -- |
Footnotes (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 5,458 shares of common stock of GECC as equity compensation for his position at GECC, 1,365 of which vested on the grant date, September 19, 2025, and the remainder of which will vest in equal annual installments on September 20th of each year until September 20, 2028, subject to continued service with GECM. 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. Reflects the net share settlement of awards of restricted stock in connection with vesting thereof that is exempt pursuant to Rule 16b-3.
