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

Rhea-AI Filing Summary

Great Elm Strategic Partnership I, LLC reported a sale of 20,938 shares of Great Elm Capital Corp. (ticker GECCZ) on 09/15/2025 at a price of $11.45 per share. After the transaction the reporting entity beneficially owned 1,626,844 shares. The filing identifies the reporting person as a director and was signed by an attorney-in-fact on 09/17/2025. No derivative transactions or additional explanations were provided in the form.

Positive

• Clear disclosure of transaction date, number of shares sold, and sale price providing transparency
• Substantial remaining holdings of 1,626,844 shares reported after the sale

Negative

• Insider sale of 20,938 shares which reduces the reporting entity's position
• No explanatory note provided to clarify the reason for the sale or whether it was pre-arranged

Insights

Securities Analyst

TL;DR Director-related entity sold 20,938 GECCZ shares at $11.45, retaining 1,626,844 shares.

The Form 4 discloses a straightforward non-derivative sale by Great Elm Strategic Partnership I, LLC, identified as a director of the issuer. The transaction reduces the entity's direct beneficial holdings by the reported amount but leaves a substantial post-sale position of 1,626,844 shares. The filing includes transaction date and price and is signed by an attorney-in-fact; no derivatives or additional context were disclosed. For investors, the form is a routine Section 16 disclosure providing transparency on insider selling activity.

Corporate Governance Expert

TL;DR Routine insider sale disclosed; remaining ownership remains sizable at 1,626,844 shares.

The disclosure meets Section 16 detail requirements by reporting the sale date, number of shares sold, and price per share. It identifies the reporting entity as a director and indicates the form was filed by one reporting person. There is no indication of amendments, derivative holdings, or explanatory notes. The signature by an attorney-in-fact is present and dated. The filing appears procedural and informational rather than signaling governance changes.

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

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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).

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)
09/15/2025

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	09/15/2025		S		20,938	D	$11.45	1,626,844	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	09/17/2025
	** 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 transaction did Great Elm Strategic Partnership I, LLC report on Form 4 for GECCZ?

The entity reported a sale of 20,938 shares of GECCZ on 09/15/2025 at $11.45 per share.

How many GECCZ shares does the reporting person own after the reported transaction?

The Form 4 reports beneficial ownership of 1,626,844 shares following the transaction.

What role does the reporting person have at the issuer?

The filing identifies Great Elm Strategic Partnership I, LLC as a Director of the issuer.

When was the Form 4 signed and who signed it?

The form was signed by /s/ Adam M. Kleinman, attorney-in-fact on 09/17/2025.

Does the Form 4 disclose any derivative securities or other transactions?

No. The filing contains only a non-derivative sale and does not report any derivative transactions.