Great Elm Group (GEG) CFO Keri Davis Receives Stock Award & Option Grant

What Happened

• Keri Davis, Chief Financial Officer of Great Elm Group, was granted 20,052 restricted shares on Sept. 21, 2026 (one-quarter vested immediately) and was also granted options covering 20,000 shares (a derivative award, 50% vested immediately). As part of the restricted stock vesting, 7,642 shares were net-settled to cover tax withholding at $2.15 per share (proceeds equal $16,430).

Key Details

• Transaction date: 2026-09-21; Form 4 filed 2026-09-23 (no late filing indicated).
• Grants reported:
  • Restricted stock: 20,052 shares awarded (reported at $0.00); 5,013 shares (25%) vested on grant date; remaining 15,039 shares vest in equal annual installments on Sept. 20 each year through Sept. 20, 2029. (Footnote F1)
  • Net share settlement for taxes: 7,642 shares withheld/disposed to cover tax liability at $2.15 per share, net value ≈ $16,430. This was a net-share settlement in connection with vesting and is exempt under Rule 16b-3. (Footnote F2; filing shows code F for tax withholding)
  • Option award (derivative): Options to purchase 20,000 shares were granted (reported as acquired/derivative at $0.00); 50% (10,000) vested on the grant date, remainder vests on Sept. 20, 2027, subject to continued employment. (Footnote F3)
• Shares owned after the transactions: not specified in the provided filing excerpts.
• Transaction codes: A = award/grant; F = payment of exercise price or tax liability (net share settlement). No open-market sale or exercise-for-cash was reported.

Context

• These transactions are compensation-related awards (restricted stock and option grants), not open-market purchases or sales; such grants are common part of executive pay and do not necessarily signal immediate market views by the insider. The net-share settlement (withholding of 7,642 vested shares) was used to satisfy tax obligations rather than a market sale.