Form 4 for GECC Great Elm Capital Corp.
Accepted 2022-06-17 00:00:00 ET · period of report 2022-06-15 · accession 0001140361-22-023521 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2022-06-17 | 2022-06-15 | GECC | Drapkin Matthew A | Dir | M - OptEx | $12.50 | +20.0K | 21.3K | +1,529% | +$250.0K |
| DMI | 2022-06-17 | 2022-06-15 | GECC | Drapkin Matthew A | Dir | M - OptEx | $12.50 | +564.0K | 220.4K | New | +$7.05M |
| DI | 2022-06-17 | 2022-06-15 | GECC | Drapkin Matthew A | Dir | J - Other | $12.50 | +40.0K | 40.3K | +12,945% | +$500.0K |
| DMI | 2022-06-17 | 2022-06-15 | GECC | Drapkin Matthew A | Dir | M - OptEx | $0.00 | -227.4K | 0 | -100% | $0 |
| D | 2022-06-17 | 2022-06-15 | GECC | Drapkin Matthew A | Dir | M - OptEx | $0.00 | -1,308 | 0 | -100% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2022-06-15 | M | A | 20,000 | $12.50 | 21,308 | D See Footnote | — | — | (F4) On June 15, 2022, the Reporting Person exercised in full his primary subscription rights (each 1 subscription right entitling him to purchase 1 share of Common Stock and oversubscritption privilege), which were issued to holders of Common Stock on the May 23, 2022 record date for the rights offering. (F8) As trustee of the Marital Trust, the Reporting Person may be deemed to be the beneficial owner of the shares of common stock beneficially owned (or deemed beneficially owned) by the Marital Trust. The Reporting Person disclaims such beneficial ownership of the shares of common stock indirectly owned through his position as trustee of the Marital Trust. |
| 2 | Common | Common Stock | 2022-06-15 | M | A | 320,000 | $12.50 | 369,140 | I See Footnote | — | — | (F3) Represents shares of common stock purchased by Northern Right Capital Management, L.P., a Texas limited partnership ("Northern Right Management"), on behalf of separate managed accounts on behalf of an investment advisory client (the "Managed Accounts"). (F6) As general partner and investment manager of NRC Partners and Northern Right QP, 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. (F7) (continued from footnote 6) 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. |
| 3 | Common | Common Stock | 2022-06-15 | M | A | 160,000 | $12.50 | 208,932 | I See Footnote | — | — | (F2) Represents shares of common stock held directly by NRC Partners I, L.P. ("NRC Partners"). (F6) As general partner and investment manager of NRC Partners and Northern Right QP, 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. (F7) (continued from footnote 6) 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. |
| 4 | Common | Common Stock | 2022-06-15 | M | A | 84,000 | $12.50 | 220,399 | I See Footnote | — | — | (F1) Represents shares of common stock held directly by Northern Right Capital (QP), L.P., a Texas limited partnership ("Northern Right QP"). (F6) As general partner and investment manager of NRC Partners and Northern Right QP, 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. (F7) (continued from footnote 6) 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. |
| 5 | Common | Common Stock | 2022-06-15 | J | A | 40,000 | $12.50 | 40,309 | I | — | — | (F4) On June 15, 2022, the Reporting Person exercised in full his primary subscription rights (each 1 subscription right entitling him to purchase 1 share of Common Stock and oversubscritption privilege), which were issued to holders of Common Stock on the May 23, 2022 record date for the rights offering. (F5) Represents shares of common stock held directly by Bernice Drapkin Non-GST Exempt Marital Trust U/A/D 12/10/2015 (the "Marital Trust"). |
| 6 | Derivative | Subscription Rights | 2022-06-15 | M | D | 131,606 | $0.00 | 0 | I See Footnote | $12.50 · 2022-05-26 to 2022-06-10 | 131,606 Common Stock | (F9) Represents subscription rights held directly by Northern Right QP. (F6) As general partner and investment manager of NRC Partners and Northern Right QP, 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. (F7) (continued from footnote 6) 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. |
| 7 | Derivative | Subscription Rights | 2022-06-15 | M | D | 47,335 | $0.00 | 0 | I See Footnote | $12.50 · 2022-05-26 to 2022-06-10 | 47,335 Common Stock | (F10) Represents subscription rights held directly by NRC Partners. (F6) As general partner and investment manager of NRC Partners and Northern Right QP, 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. (F7) (continued from footnote 6) 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. |
| 8 | Derivative | Subscription Rights | 2022-06-15 | M | D | 48,194 | $0.00 | 0 | I See Footnote | $12.50 · 2022-05-26 to 2022-06-10 | 48,194 Common Stock | (F11) Represents subscription rights held by Northern Right Management, on behalf of the Managed Accounts. (F6) As general partner and investment manager of NRC Partners and Northern Right QP, 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. (F7) (continued from footnote 6) 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. |
| 9 | Derivative | Subscription Rights | 2022-06-15 | M | D | 1,308 | $0.00 | 0 | D See Footnote | $12.50 · 2022-05-26 to 2022-06-10 | 1,308 Common Stock | (F8) As trustee of the Marital Trust, the Reporting Person may be deemed to be the beneficial owner of the shares of common stock beneficially owned (or deemed beneficially owned) by the Marital Trust. The Reporting Person disclaims such beneficial ownership of the shares of common stock indirectly owned through his position as trustee of the Marital Trust. |
| 10 | Derivative | Subscription Rights | 2022-06-15 | M | D | 309 | $0.00 | 0 | I | $12.50 · 2022-05-26 to 2022-06-10 | 309 Common Stock | (F12) Represents subscription rights held by the Marital Trust. |