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

Rhea-AI Filing Summary

Great Elm Strategic Partnership I, LLC reported two insider sales of Great Elm Capital Corp. (GECCZ) common stock at $11.45 per share. On 09/18/2025 it sold 100 shares, leaving 1,626,744 shares beneficially owned; on 09/19/2025 it sold 14,737 shares, leaving 1,612,007 shares beneficially owned. Transactions were reported on a Form 4 signed by an attorney-in-fact.

Positive

• None.

Negative

• Insider sold 14,837 shares across two transactions, reducing beneficial ownership from 1,626,744 to 1,612,007 shares.

Insights

Financial Analyst

TL;DR Insider sold 14,837 shares across two dates at $11.45, reducing beneficial ownership to 1,612,007 shares.

The reported transactions are straightforward open-market sales disclosed on a Form 4. The sales occurred over two consecutive days and were executed at a single reported price of $11.45. The filing shows direct ownership and does not indicate derivative activity or plan-based transactions. For investors, this is a routine disclosure of insider selling; no additional context is provided in the filing.

Corporate Governance Expert

TL;DR A reporting entity and director executed modest common-stock sales; filing indicates direct ownership changes only.

The Form 4 shows Great Elm Strategic Partnership I, LLC (a reporting person listed as a director) disposed of shares directly, with ownership counts updated after each sale. The submission was signed by an attorney-in-fact, consistent with delegated filing responsibility. The document contains no indication of trading pursuant to a Rule 10b5-1 plan or other arrangements, and it includes no amendments or explanatory disclosures beyond the transaction lines.

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

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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)
09/18/2025

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	09/18/2025		S		100	D	$11.45	1,626,744	D
Common Stock	09/19/2025		S		14,737	D	$11.45	1,612,007	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	09/19/2025
	** 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 transactions were reported for GECCZ on this Form 4?

The filing reports two sales of common stock: 100 shares on 09/18/2025 and 14,737 shares on 09/19/2025, both at $11.45 per share.

Who is the reporting person on the Form 4 for GECCZ?

The reporting person is Great Elm Strategic Partnership I, LLC, listed with an address in Boston, MA, and identified as a Director and reporting as one person.

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

After the reported sales the filing shows 1,612,007 shares beneficially owned following the 09/19/2025 transaction.

Was the Form 4 signed by the reporting person?

The Form 4 was signed and dated by /s/ Adam M. Kleinman, attorney-in-fact on 09/19/2025, indicating filing by an authorized representative.