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Saratoga Investment CEO reports stock gifts to family members

Saratoga Investment Corp. CEO, director and 10% owner Christian Oberbeck reported stock gifts to family members in a Form 4 dated 12/11/2025.

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Saratoga Investment Corp. CEO, director and 10% owner Christian Oberbeck reported stock gifts to family members in a Form 4 dated 12/11/2025. He transferred 5,200 shares of common stock as a gift to children who do not share his household and 7,800 shares as a gift to children who share his household, both at a reported price of $0.00 per share.

After these transactions, Oberbeck holds 657,285 common shares directly. He also reports indirect beneficial ownership of 83,742 shares held by his children, 73,607 shares held by CLO Partners LLC, 100,000 shares held by CLO Partners Holdings LLC, and 1,872 shares held by his wife.

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Insider Oberbeck Christian L
Role CEO and Director
Type Security Shares Price Value
Gift Common Stock 5,200 $0.00 $0.00
Gift Common Stock 7,800 $0.00 $0.00
Gift Common Stock 7,800 $0.00 $0.00
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 657,285 shares (Direct); Common Stock — 83,742 shares (Indirect, By children); Common Stock — 73,607 shares (Indirect, By CLO Partners LLC); Common Stock — 100,000 shares (Indirect, By CLO Partners Holdings LLC); Common Stock — 1,872 shares (Indirect, By wife)
Footnotes (2)
  1. F1. This transaction involved gifts of securities by the reporting person to his children, who do not share the reporting person's household.
  2. F2. This transaction involved gifts of securities by the reporting person to his children, who share the reporting person's household.

FAQ

What insider transaction did Saratoga Investment Corp. (SAJ) disclose in this Form 4?
The filing reports that CEO, director and 10% owner Christian Oberbeck made stock gifts of Saratoga Investment Corp. common shares to his children on 12/11/2025.

How many Saratoga Investment Corp. shares did Christian Oberbeck gift on 12/11/2025?
Christian Oberbeck gifted 5,200 common shares to children who do not share his household and 7,800 common shares to children who share his household, both recorded at $0.00 per share.

How many Saratoga Investment Corp. shares does Christian Oberbeck own directly after the reported gifts?
Following the reported transactions, Christian Oberbeck directly owns 657,285 shares of Saratoga Investment Corp. common stock.

What indirect Saratoga Investment Corp. holdings are reported for Christian Oberbeck?
The filing shows indirect beneficial ownership of 83,742 shares held by his children, 73,607 shares held by CLO Partners LLC, 100,000 shares held by CLO Partners Holdings LLC, and 1,872 shares held by his wife.

What is the transaction code used for Christian Oberbeck’s Saratoga Investment Corp. stock transfers?
The transactions are coded as G, which in this context is described as involving gifts of Saratoga Investment Corp. common stock to his children.

What roles does Christian Oberbeck hold at Saratoga Investment Corp. according to this filing?
Christian Oberbeck is identified as a Director, CEO and Director, and a 10% Owner of Saratoga Investment Corp.

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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)
12/11/2025
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 12/11/2025 G(1) 5,200 D $0.00 665,085 D
Common Stock 12/11/2025 G(2) 7,800 D $0.00 657,285 D
Common Stock 12/11/2025 G(2) 7,800 A $0.00 83,742 I By children
Common Stock 73,607 I By CLO Partners LLC
Common Stock 100,000 I By CLO Partners Holdings LLC
Common Stock 1,872 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 gifts of securities by the reporting person to his children, who do not share the reporting person's household.
2. This transaction involved gifts of securities by the reporting person to his children, who share the reporting person's household.
/s/ Christian Oberbeck 12/11/2025
** 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.

Source: View Original Filing on SEC EDGAR