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Saratoga Investment Corp. (SAJ) CEO transfers 2,560 shares as compensation

(Neutral)
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Saratoga Investment Corp. CEO and director Christian L. Oberbeck reported an indirect disposition of 2,560 shares of common stock on July 22, 2026. Shares indirectly held through CLO Partners LLC were transferred to a Saratoga employee as compensation. After this, he reports 723,113 shares held directly, plus indirect positions including 19,047 shares via CLO Partners LLC, 100,000 via CLO Partners Holdings LLC, and additional family holdings.

Positive

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Negative

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Insider Oberbeck Christian L
Role CEO and Director
Type Security Shares Price Value
Other Common Stock F1 2,560 $0.00 $0.00
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 19,047 shares (Indirect, By CLO Partners LLC); Common Stock — 723,113 shares (Direct); Common Stock — 100,000 shares (Indirect, By CLO Partners Holdings LLC); Common Stock — 91,602 shares (Indirect, By children); Common Stock — 2,052 shares (Indirect, By wife)
Footnotes (1)
  1. F1. On July 22, 2026, Mr. Oberbeck transferred a total of 2,560 shares of common stock to a Saratoga employee as compensation.
Shares transferred as compensation 2,560 shares of common stock Transferred on July 22, 2026 to a Saratoga employee as compensation
Indirect holdings via CLO Partners LLC 19,047 shares of common stock Indirect ownership after the reported transfer
Direct holdings after transaction 723,113 shares of common stock Directly owned by Christian L. Oberbeck as of July 22, 2026
Indirect holdings via CLO Partners Holdings LLC 100,000 shares of common stock Indirect ownership reported after the transaction
Indirect holdings by children 91,602 shares of common stock Reported as indirect ownership "By children"
Indirect holdings by wife 2,052 shares of common stock Reported as indirect ownership "By wife"
indirect ownership regulatory
"Marked as indirect ownership with nature "By CLO Partners LLC""
Other acquisition or disposition regulatory
"Transaction code J is described as "Other acquisition or disposition""
restructuring financial
"Summary classifies this as a restructuring transaction involving 2,560 shares"
Restructuring is a deliberate rearrangement of a company’s operations, finances, or ownership—like reorganizing a cluttered house to run more efficiently—often involving cost cuts, asset sales, debt changes, or staff moves. Investors pay attention because restructuring can improve profitability and free up cash, but it can also signal distress, incur one-time costs, or dilute shareholder value; its success affects future earnings and stock performance.

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

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FAQ

What insider transaction did SAJ’s CEO Christian L. Oberbeck report?

Christian L. Oberbeck reported an indirect disposition of 2,560 shares of Saratoga Investment Corp. common stock on July 22, 2026. The shares, held through CLO Partners LLC, were transferred to a Saratoga employee as compensation rather than sold for cash.

How many Saratoga Investment (SAJ) shares were transferred as compensation?

A total of 2,560 shares of Saratoga Investment Corp. common stock were transferred to a Saratoga employee as compensation. These shares were indirectly held through CLO Partners LLC and reported as an "other acquisition or disposition" transaction.

What are Christian L. Oberbeck’s direct SAJ share holdings after the transaction?

Following the reported transaction, Christian L. Oberbeck holds 723,113 shares of Saratoga Investment Corp. common stock directly. This figure reflects his direct ownership position as of July 22, 2026, separate from any indirect or family holdings.

What indirect Saratoga Investment (SAJ) holdings does Oberbeck report after the transfer?

After the transfer, Oberbeck reports 19,047 shares held indirectly via CLO Partners LLC and 100,000 shares via CLO Partners Holdings LLC, plus 91,602 shares held by his children and 2,052 shares held by his wife, all reported as indirect ownership.

Was the SAJ insider transaction made under a Rule 10b5-1 trading plan?

The filing’s Rule 10b5-1 checkbox is not marked as an affirming plan, and the footnote does not mention any trading plan. The transfer of 2,560 shares as employee compensation is therefore reported as a non-plan transaction.
SEC Form 4
FORM 4UNITED 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 NEW YORK 10022

(City)(State)(Zip)

UNITED STATES

(Country)
2. Issuer Name and Ticker or Trading Symbol
SARATOGA INVESTMENT CORP. [ SAR ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
CEO and Director
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/22/2026
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock723,113D
Common Stock07/22/2026J(1)2,560D$0.0019,047IBy CLO Partners LLC
Common Stock100,000IBy CLO Partners Holdings LLC
Common Stock91,602IBy children
Common Stock2,052IBy 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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. On July 22, 2026, Mr. Oberbeck transferred a total of 2,560 shares of common stock to a Saratoga employee as compensation.
/s/ Christian L Oberbeck07/23/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)