Great Elm Group SEC Filings

Northern Right Capital and related funds report beneficial ownership of 6,182,242 shares of Great Elm Group common stock, representing 19.0% of the company. This total includes shares held directly, in managed accounts and through affiliated funds, plus certain unvested restricted shares awarded to Matthew A. Drapkin.

The ownership calculation is based on 32,510,190 shares outstanding as of early May 2026, which factors in 1,153,182 shares that could be issued upon maximum conversion of PIK Notes held in managed accounts. Northern Right QP and Northern Right Long Only have agreed under a Forbearance Agreement not to convert their PIK Notes into additional shares until July 15, 2026.

Great Elm Group, Inc. reported higher revenue but significantly larger losses for the quarter and nine months ended March 31, 2026. Revenue rose to $3.4 million for the quarter and $17.2 million year-to-date, up from $3.2 million and $10.7 million a year earlier, driven mainly by real estate-related fees and project management income.

Despite this growth, the company posted a quarterly net loss attributable to stockholders of $13.7 million and a nine‑month loss of $36.5 million, versus a loss of $4.5 million and $0.7 million in the prior-year periods. The sharp deterioration mainly reflects large net realized and unrealized losses on investments and on consolidated funds, which more than offset operating revenue.

Total assets fell to $111.8 million from $153.9 million as of June 30, 2025, while stockholders’ equity declined to $39.8 million from $80.7 million. Cash and cash equivalents increased to $45.5 million, partly supported by equity issuances, even as the company continued stock repurchases and redeemed non‑controlling interests in consolidated funds. Great Elm now manages approximately $744 million of assets across alternative credit and industrial outdoor storage real estate strategies under its new two‑segment structure.

Great Elm Group, Inc. reported higher revenue but significantly larger losses for the quarter and nine months ended March 31, 2026. Revenue rose to $3.4 million for the quarter and $17.2 million year-to-date, up from $3.2 million and $10.7 million a year earlier, driven mainly by real estate-related fees and project management income.

Despite this growth, the company posted a quarterly net loss attributable to stockholders of $13.7 million and a nine‑month loss of $36.5 million, versus a loss of $4.5 million and $0.7 million in the prior-year periods. The sharp deterioration mainly reflects large net realized and unrealized losses on investments and on consolidated funds, which more than offset operating revenue.

Total assets fell to $111.8 million from $153.9 million as of June 30, 2025, while stockholders’ equity declined to $39.8 million from $80.7 million. Cash and cash equivalents increased to $45.5 million, partly supported by equity issuances, even as the company continued stock repurchases and redeemed non‑controlling interests in consolidated funds. Great Elm now manages approximately $744 million of assets across alternative credit and industrial outdoor storage real estate strategies under its new two‑segment structure.

Great Elm Group, Inc. reported fiscal third‑quarter 2026 revenue of $3.4 million, up 7% from the prior-year period, but a wider net loss of $13.5 million driven mainly by unrealized losses on investments tied to GECC common stock and related SPVs.

Fee-paying assets under management were $528 million and total AUM was $744 million. Adjusted EBITDA was a loss of $1.6 million. The company ended March 31, 2026 with $45.5 million of cash and equivalents and repurchased about 1.4 million shares, over 4% of its stock, at an average price of $2.04. The board increased the stock repurchase authorization by $15 million to $40 million.

Great Elm Group, Inc. reported fiscal third‑quarter 2026 revenue of $3.4 million, up 7% from the prior-year period, but a wider net loss of $13.5 million driven mainly by unrealized losses on investments tied to GECC common stock and related SPVs.

Fee-paying assets under management were $528 million and total AUM was $744 million. Adjusted EBITDA was a loss of $1.6 million. The company ended March 31, 2026 with $45.5 million of cash and equivalents and repurchased about 1.4 million shares, over 4% of its stock, at an average price of $2.04. The board increased the stock repurchase authorization by $15 million to $40 million.

Reese Jason W. reported acquisition or exercise transactions in this Form 4 filing.

Great Elm Group, Inc. director and officer Jason W. Reese reported an award of 27,022 shares of Common Stock on March 3, 2026. The restricted stock was granted at $0.0000 per share and vests in equal quarterly installments from March 31, 2026 through December 31, 2026, contingent on his continued service on the board of Great Elm Capital Corp.

The filing also reports indirect ownership of 6,379,646 shares of Common Stock as of March 3, 2026, consisting of 5,009,662 shares held by Long Ball Partners, LLC, 909,084 shares held by Imperial Capital Asset Management, LLC, and 460,900 shares held by Imperial Capital Group Holdings II, LLC. Mr. Reese has voting and dispositive power over these shares, while each party disclaims beneficial ownership except to the extent of its pecuniary interest.

Reese Jason W. reported acquisition or exercise transactions in this Form 4 filing.

Great Elm Group, Inc. director and officer Jason W. Reese reported an award of 27,022 shares of Common Stock on March 3, 2026. The restricted stock was granted at $0.0000 per share and vests in equal quarterly installments from March 31, 2026 through December 31, 2026, contingent on his continued service on the board of Great Elm Capital Corp.

The filing also reports indirect ownership of 6,379,646 shares of Common Stock as of March 3, 2026, consisting of 5,009,662 shares held by Long Ball Partners, LLC, 909,084 shares held by Imperial Capital Asset Management, LLC, and 460,900 shares held by Imperial Capital Group Holdings II, LLC. Mr. Reese has voting and dispositive power over these shares, while each party disclaims beneficial ownership except to the extent of its pecuniary interest.

Great Elm Group, Inc. furnished a press release as an exhibit to report on its results of operations and financial condition. The company issued this press release on February 4, 2026, and attached it as Exhibit 99.1 to the current report.

The information in the press release and this report is being treated as furnished rather than filed, which limits certain legal liabilities and how it may be incorporated into other securities law filings.

Great Elm Group, Inc. furnished a press release as an exhibit to report on its results of operations and financial condition. The company issued this press release on February 4, 2026, and attached it as Exhibit 99.1 to the current report.

The information in the press release and this report is being treated as furnished rather than filed, which limits certain legal liabilities and how it may be incorporated into other securities law filings.

Great Elm Group, Inc. reported a sharp swing to loss for the quarter ended December 31, 2025. Revenue was $3.0 million, down from $3.5 million a year earlier, while net loss attributable to stockholders was $15.8 million versus net income of $1.2 million. The loss was driven mainly by $11.4 million of net realized and unrealized losses on investments and an additional $1.6 million loss from consolidated funds, alongside higher compensation and administrative costs.

For the six months, revenue rose to $13.8 million from $7.5 million, largely due to real estate property sales, but the company posted a $22.8 million net loss versus $3.8 million income in the prior period as investment fair values declined. Cash, cash equivalents and restricted cash increased to $51.2 million, helped by property sale proceeds and equity issuances, while total assets fell to $135.5 million and stockholders’ equity declined to $55.8 million. Long-term notes and convertible debt totaled about $62.0 million, and there were 32.7 million common shares outstanding as of January 29, 2026.

Great Elm Group, Inc. reported a sharp swing to loss for the quarter ended December 31, 2025. Revenue was $3.0 million, down from $3.5 million a year earlier, while net loss attributable to stockholders was $15.8 million versus net income of $1.2 million. The loss was driven mainly by $11.4 million of net realized and unrealized losses on investments and an additional $1.6 million loss from consolidated funds, alongside higher compensation and administrative costs.

For the six months, revenue rose to $13.8 million from $7.5 million, largely due to real estate property sales, but the company posted a $22.8 million net loss versus $3.8 million income in the prior period as investment fair values declined. Cash, cash equivalents and restricted cash increased to $51.2 million, helped by property sale proceeds and equity issuances, while total assets fell to $135.5 million and stockholders’ equity declined to $55.8 million. Long-term notes and convertible debt totaled about $62.0 million, and there were 32.7 million common shares outstanding as of January 29, 2026.

Great Elm Group, Inc. reporting person Keri Davis, the company's Chief Financial Officer, received a grant of 9,191 shares of restricted common stock on September 19, 2025. One-quarter of the grant (2,298 shares) vested immediately on the grant date; the remaining shares vest in equal annual installments on September 20 of each year through September 20, 2028, contingent on continued employment. Following the September 19 grant, Ms. Davis was recorded as beneficially owning 48,854 shares. On September 23, 2025, there was a net share settlement in connection with vesting that resulted in a reported disposition of 5,418 shares at a price of $2.80 per share, leaving 43,436 shares beneficially owned after the transaction.

Adam M. Kleinman, President and director of Great Elm Group, Inc. (ticker: GEGGL), reported two transactions in common stock in September 2025. On September 19, 2025 he was awarded 22,977 restricted shares, one-quarter of which vested immediately and the remainder vest in equal annual installments on September 20th each year through September 20, 2028, contingent on continued employment.

On September 23, 2025 the form reports a net share settlement of 18,313 restricted shares in connection with vesting, reported at a price of $2.80. Following the September 19 award his beneficial ownership was reported as 603,707 shares, and after the September 23 transaction his holdings were reported as 585,394 shares. The filing states the net settlement is exempt under Rule 16b-3.

Nichole Milz, Chief Operating Officer and director of Great Elm Group, Inc. (GEGGL), reported two equity transactions in September 2025. On September 19, 2025 she was awarded 36,764 shares of restricted common stock, with one-quarter vesting immediately and the remainder vesting in equal annual installments each September 20 through 2028, contingent on continued employment. That award increased her beneficial holdings to 213,111 shares. On September 23, 2025 she had a net share settlement of 18,227 restricted shares at a reported price of $2.80 per share, reducing her beneficial ownership to 194,884 shares.

Great Elm Group, Inc. director and Chief Executive Officer Jason W. Reese was awarded 183,823 restricted shares of Common Stock on September 20, 2025. Twenty-five percent of the award vested immediately on the grant date, with the remaining 75% vesting in three equal annual installments on September 20 of 2026, 2027 and 2028. Mr. Reese serves as portfolio manager to Long Ball Partners, LLC and is Chairman & CEO of Imperial Capital Asset Management, LLC, which together with Long Ball and Imperial Capital Group Holdings II, LLC hold a total of 6,379,646 shares of Common Stock (5,009,662; 909,084; and 460,900 shares respectively). The Form 4 reports Mr. Reeses direct beneficial ownership following the grant as 1,176,942 shares. Each reporting person disclaims beneficial ownership except to the extent of pecuniary interest. The award was reported as having a price of $0.00.