Great Elm Group, Inc. - Dec 30, 2022 Form 4 Insider Report for Great Elm Capital Corp. (GECC)

Role
10%+ Owner
Signature
/s/ Adam M. Kleinman, attorney-in-fact
Stock symbol
GECC
Transactions as of
Dec 30, 2022
Transactions value $
$0
Form type
4
Date filed
1/3/2023, 06:36 PM
Previous filing
Jan 24, 2023
Next filing
May 23, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GECC Common Stock Other $0 -372K -100% $0.00* 0 Dec 30, 2022 Forest Investments, Inc. F2, F3
transaction GECC Common Stock Other $0 -73.2K -100% $0.00* 0 Jan 3, 2023 Great Elm Opportunities Fund I, LP F4
holding GECC Common Stock 1.84M Dec 30, 2022 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 27,605 shares of Great Elm Capital Corp.'s common stock, par value $0.01 per share ("Common Stock"), that was previosuly indirectly owned by Great Elm Group, Inc. ("GEG") and became directly owned on December 27, 2022.
F2 On December 30, 2022, GEG and Great Elm FM Acquisition, Inc. ("FM Acquisition"), a wholly-owned subsidiary of GEG, entered into a stock purchase agreement (the "Stock Purchase Agreement") with J.P. Morgan Broker-Dealer Holdings Inc. ("JPM") to sell 61 shares of the common stock, $0.001 par value per share, of Forest Investments, Inc. ("Forest") owned by FM Acquisition and GEG, which shares constitute 61% of the issued and outstanding shares of Forest's common stock. As the parent of Forest, prior to the entry into the Stock Purchase Agreement, GEG may have been deemed to be the beneficial owner of the shares of common stock beneficially owned (or deemed beneficially owned) by Forest.
F3 Following the entry into the Stock Purchase Agreement, GEG may no longer be deemed to be the beneficial owner of the shares of common stock beneficially owned (or deemed beneficially owned) by Forest.
F4 On January 3, 2023, Great Elm Opportunities Fund I, LP, a Delaware limited partnership ("GEOF"), distributed 73,176 shares of Common Stock to a third party limited partner in GEOF. In connection with the distribution, GEG may no longer be deemed to be the beneficial owner of the shares of common stock previously beneficially owned (or deemed beneficially owned) by GEOF.