[Form 4] GLADSTONE CAPITAL CORP Insider Trading Activity

Rhea-AI Filing Summary

Gladstone Capital Corp (GLAD) officer trade reported. The company’s CFO and Treasurer, Melissa Schaltenbrand, reported buying 496 shares of Gladstone Capital common stock on 11/20/2025 in an open-market purchase coded as a “P” transaction. The shares were acquired at a price of $20.159 per share.

Following this transaction, she beneficially owned 3,095 shares of Gladstone Capital common stock in a direct holding, according to the filing.

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
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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^*

Schaltenbrand Nicole Frances Dubas

(Last) (First) (Middle)

1521 WESTBRANCH DRIVE

SUITE 100

(Street)

MCLEAN VA 22102

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GLADSTONE CAPITAL CORP [ GLAD ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/20/2025

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	11/20/2025		P		496	A	$20.159	3,095	D
Common Stock								618	I	by Spouse(1)

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:

1. Ms. Schaltenbrand disclaims beneficial ownership of these 891 shares held by her spouse and this report shall not be deemed an admission that Ms. Schaltenbrand is the beneficial owner of the securities for purposes of Section 16 or any other purpose.

	/s/ Michael LiCalsi, attorney-in-fact	11/21/2025
	** 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 insider transaction did GLAD report in this Form 4?

The Form 4 reports that Gladstone Capital’s CFO and Treasurer, Melissa Schaltenbrand, purchased 496 shares of GLAD common stock on 11/20/2025.

At what price did the GLAD officer buy the shares?

The 496 Gladstone Capital (GLAD) shares were purchased at a price of $20.159 per share.

How many GLAD shares does the officer own directly after the transaction?

After the reported transaction, the officer beneficially owned 3,095 shares of Gladstone Capital common stock in a direct holding.

What is the role of the reporting person at Gladstone Capital (GLAD)?

The reporting person is an officer of Gladstone Capital Corp, serving as CFO and Treasurer.

Was this GLAD Form 4 filed by one person or a group?

The Form 4 was indicated as being filed by one reporting person, not by a group.

Does the GLAD officer report any indirect ownership in this filing?

Yes. The filing shows additional indirect beneficial ownership through the officer’s spouse, separate from the directly held shares.