Matthew A. Drapkin - Mar 9, 2023 Form 4 Insider Report for Great Elm Group, Inc. (GEG)

Role: Director, 10%+ Owner
Signature: /s/ Adam M. Kleinman, attorney-in-fact
Stock symbol: GEG
Transactions as of: Mar 9, 2023
Transactions value $: $103,732
Form type: 4
Date filed: 3/13/2023, 08:43 PM
Previous filing: Feb 24, 2023
Next filing: Mar 20, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GEG	Common Stock	Purchase	$56.8K	+24.6K	+1.4%	$2.31	1.78M	Mar 9, 2023	See Footnote	F1, F3, F4
transaction	GEG	Common Stock	Purchase	$9.36K	+4.05K	+0.22%	$2.31	1.83M	Mar 9, 2023	See Footnote	F2, F3, F4
transaction	GEG	Common Stock	Purchase	$32.3K	+14.4K	+0.81%	$2.24	1.79M	Mar 10, 2023	See Footnote	F1, F3, F4
transaction	GEG	Common Stock	Purchase	$5.32K	+2.38K	+0.13%	$2.24	1.83M	Mar 10, 2023	See Footnote	F2, F3, F4
holding	GEG	Common Stock						403K	Mar 9, 2023	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents shares of common stock held directly by Northern Right Capital (QP), L.P., a Texas limited partnership ("Northern Right QP"). Includes 152,315 shares of common stock that were previously owned by NRC Partners I, L.P. ("NRC Partners") and were transferred to Northern Right QP on March 1, 2023.
F2	Represents shares of common stock purchased managed accounts (the "Managed Accounts") on behalf of certain investment advisory clients of Northern Right Capital Management, L.P. ("Northern Right Management").
F3	As general partner and investment manager of NRC Partners and Northern Right QP, Northern Right Capital Management, L.P. ("Northern Right Management") may be deemed to be the beneficial owner of the shares of common stock held by NRC Partners and Northern Right QP. As the investment manager of the Managed Accounts, Northern Right Management may also be deemed to be the beneficial owner of the shares of common stock held by the Managed Accounts. As general partner of Northern Right Management, BC Advisors, LLC, a Texas limited liability company ("BCA") may be deemed to be the beneficial owner of the shares of common stock beneficially owned (or deemed beneficially owned) by Northern Right Management. As the managing member of BCA, the Reporting Person may be deemed to be the beneficial owner of the shares of common stock beneficially owned (or deemed beneficially owned) by BCA.
F4	(continued from footnote 3) The Reporting Person disclaims such beneficial ownership of the shares of common stock indirectly owned through his position with BCA, except to the extent of his pecuniary interest therein.