Great Elm Capital (GECC) CCO Adam Kleinman Receives Stock Award

What Happened
Adam M. Kleinman, Chief Compliance Officer and Secretary of Great Elm Capital Corp. (GECC), received equity awards totaling 16,083 shares on September 21, 2026 (15,292-share exempt grant + 791-share stock dividend). The awards were granted at $0 as equity compensation. To cover tax liabilities, 3,451 shares were surrendered/withheld at $5.37 per share, totaling $18,532, resulting in a net increase of 12,632 shares received.

Key Details

• Transaction dates and prices:
  • 2026-09-21: Award (A) of 15,292 shares @ $0.00 (exempt grant).
  • 2026-09-21: Award (A) of 791 shares @ $0.00 (stock dividend from prior vested awards).
  • 2026-09-21: Tax withholding (F) — 3,451 shares disposed @ $5.37 = $18,532.
• Vesting: 3,823 of the 15,292-share grant vested on the grant date; remaining shares vest in equal annual installments on Sept 20th each year through Sept 20, 2029, subject to continued service.
• Footnotes:
  • F1: Describes exempt grant and vesting schedule.
  • F2: 791 shares are a stock dividend tied to prior awards that vested on their anniversaries.
  • F3: Net share settlement of restricted stock in connection with vesting (exempt under Rule 16b-3).
• Shares owned after transaction: Not specified in the filing.
• Timeliness: Transaction dated 2026-09-21 was reported on Form 4 filed 2026-09-23 (within the standard 2-business-day reporting window).

Context
These transactions are equity compensation and routine tax-withholding related to vesting. Awards granted at $0 are not purchases and do not by themselves signal insider buying or selling intent. The withheld shares cover tax obligations from the vested awards; net share settlement of restricted stock is a common administrative step.