SAJ CEO gifts 1,000 Saratoga Investment shares

Saratoga Investment Corp.'s CEO, director, and 10% owner Christian L. Oberbeck reported a gift of 1,000 shares of common stock on January 29, 2026.

Rhea-AI Filing Summary

Saratoga Investment Corp.'s CEO, director, and 10% owner Christian L. Oberbeck reported a gift of 1,000 shares of common stock on January 29, 2026. The filing states this was a gift to his grandchild who does not share his household, at a reported price of $0.00 per share.

After this transaction, he directly beneficially owned 664,983 common shares, with additional indirect holdings reported as 86,446 shares by his children, 71,607 shares by CLO Partners LLC, 100,000 shares by CLO Partners Holdings LLC, and 1,937 shares by his wife.

Insider Trade Summary

1,000 shares gifted

Gift 5 txns

Insider Oberbeck Christian L

Role CEO and Director

Type	Security	Shares	Price	Value
Gift	Common Stock	1,000	$0.00	$0.00
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 664,983 shares (Direct); Common Stock — 86,446 shares (Indirect, By children); Common Stock — 71,607 shares (Indirect, By CLO Partners LLC); Common Stock — 100,000 shares (Indirect, By CLO Partners Holdings LLC); Common Stock — 1,937 shares (Indirect, By wife)

Footnotes (1)

1. F1. This transaction involved one gift of securities by the reporting person to his grandchild who does not share the reporting person's household.

FAQ

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

What insider transaction did SAJ’s CEO report in this Form 4?

Christian L. Oberbeck reported a gift of 1,000 Saratoga Investment Corp. shares. The transaction occurred on January 29, 2026 and was recorded at $0.00 per share, reflecting a non-cash, charitable-style transfer rather than an open-market sale or purchase.

Who received the 1,000-share gift reported by SAJ insider Christian Oberbeck?

The 1,000-share transfer was a gift to Mr. Oberbeck’s grandchild. A footnote explains the shares were gifted to a grandchild who does not share the reporting person’s household, clarifying it as a family transfer rather than a market transaction or sale to an unrelated party.

How many SAJ shares does Christian Oberbeck own directly after this transaction?

After the reported gift, Christian Oberbeck directly beneficially owned 664,983 common shares. This direct holding is separate from several indirect positions reported through family members and entities, and reflects his remaining personal stake following the 1,000-share gift on January 29, 2026.

What indirect SAJ shareholdings are associated with Christian Oberbeck?

Indirect holdings reported include 86,446 shares by children, 71,607 by CLO Partners LLC, 100,000 by CLO Partners Holdings LLC, and 1,937 by his wife. These positions are listed as indirect beneficial ownership, highlighting family and entity-related stakes in Saratoga Investment Corp.

Does the SAJ Form 4 show any insider sales for cash?

The Form 4 reports a 1,000-share gift at a price of $0.00 per share. This indicates a non-cash transfer to a grandchild rather than a sale in the open market or a purchase, suggesting no immediate cash proceeds for the reporting person from this transaction.

What is Christian Oberbeck’s role at Saratoga Investment Corp (SAJ)?

Christian L. Oberbeck is listed as CEO, director, and a 10% owner of Saratoga Investment Corp. These roles indicate both executive responsibility and significant ownership, which is why his trades and gifts of company stock must be reported on Form 4 under Section 16 rules.

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

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Accepted by SEC EDGAR 01/30/2026 - 02:11 PM EST 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^*

Oberbeck Christian L

(Last) (First) (Middle)

C/O SARATOGA INVESTMENT CORP.

535 MADISON AVENUE

(Street)

NEW YORK NY 10022

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SARATOGA INVESTMENT CORP. [ SAR ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/29/2026

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	01/29/2026		G(1)		1,000	D	$0.00	664,983	D
Common Stock								86,446	I	By children
Common Stock								71,607	I	By CLO Partners LLC
Common Stock								100,000	I	By CLO Partners Holdings LLC
Common Stock								1,937	I	By wife

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. This transaction involved one gift of securities by the reporting person to his grandchild who does not share the reporting person's household.

	/s/ Christian Oberbeck	01/30/2026
	** 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.