Great Elm Group CEO receives 137,501-share award

The award vests in four equal annual installments, with the three later installments contingent on continued service as a director.

Rhea-AI Filing Summary

Great Elm Group, Inc. (symbol: GEG) is the issuer of record for a Form 4 filing submitted to the SEC. Reese Jason W. reported acquisition or exercise transactions in this Form 4 filing.

Great Elm Group, Inc. (GEG) reported that its Chairman and Chief Executive Officer, Jason W. Reese, received a 137,501-share restricted-stock award on September 21, 2026. The award vests in four equal annual installments: the first on the grant date and the remaining installments on September 20, 2027, September 20, 2028 and September 20, 2029, contingent on his continued service as a director. After the award, Reese held 1,141,828 shares directly. The company also reported 6,379,646 shares held indirectly through Long Ball Partners, LLC, Imperial Capital Asset Management, LLC and Imperial Capital Group Holdings II, LLC; Reese has voting and dispositive power over those shares, while each named party disclaims beneficial ownership except to the extent of its pecuniary interest.

Insider Trade Summary

Grant/Award: 137,501 shares

Grant/Award 2 txns

Insider Reese Jason W., Imperial Capital Asset Management, LLC, LONG BALL PARTNERS LLC, Imperial Capital Group Holdings II, LLC

Role See remarks | 10% Owner | 10% Owner | 10% Owner

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F4	137,501	$0.00	$0.00
holding	Common stock, par value $0.01 per share ("Common Stock") F1, F2, F3	--	--	--

Holdings After Transaction: Common Stock — 1,141,828 shares (Direct); Common stock, par value $0.01 per share ("Common Stock") — 6,379,646 shares (Indirect, See Footnotes)

Footnotes (4)

1. F1. The shares of Common Stock are held directly by Long Ball Partners, LLC ("Long Ball"), Imperial Capital Asset Management, LLC ("ICAM") and Imperial Capital Group Holdings II, LLC ("ICGH2"). Mr. Reese is portfolio manager to Long Ball and is Chairman and Chief Executive Officer of ICAM, which is the managing member of and investment manager to Long Ball. Mr. Reese is one of the owners of Imperial Capital Group Holdings, LLC, which is the managing member of ICGH2. Mr. Reese has voting and dispositive power over the shares of Common Stock held directly by each of Long Ball, ICAM and ICGH2.
2. F2. Consists of 5,009,662 shares held directly by Long Ball, 909,084 shares held directly by ICAM, and 460,900 shares held directly by ICGH2.
3. F3. Each of Mr. Reese, ICAM, Long Ball and ICGH2 disclaims beneficial ownership of the securities reported herein, except to the extent of that person's pecuniary interest.
4. F4. Mr. Reese was awarded 137,501 shares of restricted stock of Great Elm Capital Corp. (the "Issuer") on September 21, 2026 (the "Grant Date"). The restricted stock vests in four equal annual installments, with the first installment vesting on the Grant Date, and the remaining installments vesting on each of September 20, 2027, September 20, 2028 and September 20, 2029, contingent upon Mr. Reese's continued service as a member of the board of directors of the Issuer.

Key Figures

Restricted-stock award: 137,501 shares Direct shares held after award: 1,141,828 shares Indirect shares held through entities: 6,379,646 shares +3 more

6 metrics

Restricted-stock award 137,501 shares Awarded September 21, 2026

Direct shares held after award 1,141,828 shares Following the September 21, 2026 award

Indirect shares held through entities 6,379,646 shares Reported September 21, 2026

Shares held directly by Long Ball Partners, LLC 5,009,662 shares Included in the reported indirect holdings

Shares held directly by Imperial Capital Asset Management, LLC 909,084 shares Included in the reported indirect holdings

Shares held directly by Imperial Capital Group Holdings II, LLC 460,900 shares Included in the reported indirect holdings

Key Terms

restricted stock, annual installments, voting and dispositive power, pecuniary interest

4 terms

restricted stock financial

"awarded 137,501 shares of restricted stock"

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.

annual installments financial

"vests in four equal annual installments"

voting and dispositive power regulatory

"has voting and dispositive power over the shares"

pecuniary interest regulatory

"except to the extent of that person's pecuniary interest"

FAQ

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

How many shares did GEG CEO Jason W. Reese receive?

Jason W. Reese received a 137,501-share restricted-stock award on September 21, 2026. The award is reported as a grant.

When do Jason W. Reese's GEG restricted shares vest?

The 137,501 restricted shares vest in four equal annual installments. The first installment vested on September 21, 2026; the remaining installments are scheduled for September 20, 2027, September 20, 2028 and September 20, 2029, contingent on his continued service as a director.

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

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 09/23/2026 - 04:16 PM Accepted by SEC EDGAR 09/23/2026 - 04:15 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^*

Reese Jason W.

(Last) (First) (Middle)

C/O IMPERIAL CAPITAL ASSET MANAGEMENT

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 Group, Inc. [ GEG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	See remarks

2a. Foreign Trading Symbol

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

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

	Form filed by One Reporting Person
X	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, par value $0.01 per share ("Common Stock")								6,379,646	I	See Footnotes(1)(2)(3)
Common Stock	09/21/2026		A(4)		137,501	A	$0	1,141,828	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

1. Name and Address of Reporting Person^*

Reese Jason W.

(Last) (First) (Middle)

C/O IMPERIAL CAPITAL ASSET MANAGEMENT

3801 PGA BOULEVARD, SUITE 603

(Street)

PALM BEACH GARDENS FLORIDA 33410

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	See remarks

1. Name and Address of Reporting Person^*

Imperial Capital Asset Management, LLC

(Last) (First) (Middle)

3801 PGA BLVD., SUITE 603

(Street)

PALM BEACH GARDENS FLORIDA 33410

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

LONG BALL PARTNERS LLC

(Last) (First) (Middle)

C/O IMPERIAL CAPITAL ASSET MANAGEMENT

3801 PGA BOULEVARD, SUITE 603

(Street)

PALM BEACH GARDENS FLORIDA 33410

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Imperial Capital Group Holdings II, LLC

(Last) (First) (Middle)

3801 PGA BOULEVARD, SUITE 603

(Street)

PALM BEACH GARDENS FLORIDA 33410

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The shares of Common Stock are held directly by Long Ball Partners, LLC ("Long Ball"), Imperial Capital Asset Management, LLC ("ICAM") and Imperial Capital Group Holdings II, LLC ("ICGH2"). Mr. Reese is portfolio manager to Long Ball and is Chairman and Chief Executive Officer of ICAM, which is the managing member of and investment manager to Long Ball. Mr. Reese is one of the owners of Imperial Capital Group Holdings, LLC, which is the managing member of ICGH2. Mr. Reese has voting and dispositive power over the shares of Common Stock held directly by each of Long Ball, ICAM and ICGH2.

2. Consists of 5,009,662 shares held directly by Long Ball, 909,084 shares held directly by ICAM, and 460,900 shares held directly by ICGH2.

3. Each of Mr. Reese, ICAM, Long Ball and ICGH2 disclaims beneficial ownership of the securities reported herein, except to the extent of that person's pecuniary interest.

4. Mr. Reese was awarded 137,501 shares of restricted stock of Great Elm Capital Corp. (the "Issuer") on September 21, 2026 (the "Grant Date"). The restricted stock vests in four equal annual installments, with the first installment vesting on the Grant Date, and the remaining installments vesting on each of September 20, 2027, September 20, 2028 and September 20, 2029, contingent upon Mr. Reese's continued service as a member of the board of directors of the Issuer.

Remarks:

Mr. Reese is the Chairman and Chief Executive Officer of the Issuer.

	Jason Reese, By: /s/ Jason Reese	09/23/2026
	Long Ball Partners, LLC, By: Imperial Capital, Asset Management, LLC, its Managing Member, By: /s/ Jason Reese, Chairman & CEO	09/23/2026
	Imperial Capital Asset Management, LLC, By: /s/ Jason Reese, Chairman & CEO	09/23/2026
	Imperial Capital Group Holdings II, LLC, By: /s/ Jason Reese, its Authorized Signatory	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)