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Christian L. Oberbeck, identified as CEO, Director and a 10% owner of Saratoga Investment Corp., reported a transaction dated 09/23/2025 on Form 4. The filing states Mr. Oberbeck transferred 606 shares of common stock to two Saratoga employees as compensation. The form lists various holdings described as direct and indirect ownership (including interests held by CLO Partners LLC, CLO Partners Holdings LLC, his children and his wife). The Form 4 was signed on 09/25/2025.