# EDGAR Filing Document

**Accession Number:** 0001831096
**File Stem:** 0000950103-25-013040
**Filing Date:** 2025-10
**Character Count:** 8683
**Document Hash:** 586bff3fd5d566fa261befc1eb89e18c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950103-25-013040.hdr.sgml**: 20251009

**ACCESSION NUMBER**: 0000950103-25-013040

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251009

**DATE AS OF CHANGE**: 20251009

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Great Elm Capital Corp.
- **CENTRAL INDEX KEY:** 0001675033

**ORGANIZATION NAME:**
- **EIN:** 812621577
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-89698
- **FILM NUMBER:** 251385447

**BUSINESS ADDRESS:**
- **STREET 1:** 3801 PGA BOULEVARD
- **STREET 2:** SUITE 603
- **CITY:** PALM BEACH GARDENS
- **STATE:** FL
- **ZIP:** 33410
- **BUSINESS PHONE:** 617-375-3006

**MAIL ADDRESS:**
- **STREET 1:** 3801 PGA BOULEVARD
- **STREET 2:** SUITE 603
- **CITY:** PALM BEACH GARDENS
- **STATE:** FL
- **ZIP:** 33410
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Great Elm Group, Inc.
- **CENTRAL INDEX KEY:** 0001831096
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 853622015
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 3801 PGA BOULEVARD
- **STREET 2:** SUITE 603
- **CITY:** PALM BEACH GARDENS
- **STATE:** FL
- **ZIP:** 33410
- **BUSINESS PHONE:** (617) 375-3006

**MAIL ADDRESS:**
- **STREET 1:** 3801 PGA BOULEVARD
- **STREET 2:** SUITE 603
- **CITY:** PALM BEACH GARDENS
- **STATE:** FL
- **ZIP:** 33410

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 14)**

**Great Elm Capital Corp.**

*(Name of Issuer)*

**Common Stock, par value $0.01 per share**

*(Title of Class of Securities)*

**390320703**

*(CUSIP Number)*

**Jason W. Reese**<br>Great Elm Group, Inc.<br>3801 PGA Boulevard, Suite 603<br>Palm Beach Gardens FL 33410<br>(617) 375-3006

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**10/07/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **390320703** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Great Elm Group, Inc.** | Name of reporting person<br>**Great Elm Group, Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**1358276.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**1358276.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1358276.00** | Aggregate amount beneficially owned by each reporting person<br>**1358276.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**9.7%** | Percent of class represented by amount in Row (11)<br>**9.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** Note to Row 13: Based on 13,998,168 shares of common stock, par value $0.01, outstanding, which includes (i) 11,568,378 shares outstanding as reported on the Issuer's (as defined below) Quarterly Report on Form 10-Q for the Quarterly Period ended June 30, 2025, filed August 4, 2025, (ii) 1,139,790  shares issued under the Issuer's ATM Facility (as defined below) since the filing the Quarterly Report on Form 10-Q for the Quarterly Period ended June 30, 2025 and (iii) 1,290,000 shares issued to Poor Richard LLC on August 27, 2025 (as described under Item 5 below).

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, par value $0.01 per share

**(b) Name of Issuer:**
Great Elm Capital Corp.

**(c) Address of Issuer's Principal Executive Offices:**
3801 PGA BOULEVARD, SUITE 603, PALM BEACH GARDENS, FL, 33410

This Amendment No. 14 to the statement of beneficial ownership on Schedule 13D (this "Amendment No. 14") amends the Schedule 13D originally filed by the Reporting Person with the United States Securities and Exchange Commission (the "SEC") on October 1, 2019, as amended by Amendment No. 1 dated October 1, 2020, Amendment No. 2 dated December 31, 2020, Amendment No. 3 dated September 20, 2021, Amendment No. 4 dated May 11, 2022, Amendment No. 5 dated June 17, 2022, Amendment No. 6 dated January 3, 2022, Amendment No. 7 dated January 24, 2023, Amendment No. 8 dated September 22, 2023, Amendment No. 9 dated February 12, 2024, Amendment No. 10 dated June 24, 2024, Amendment No. 11 dated September 25, 2024, Amendment No. 12 dated December 13, 2024 and Amendment No. 13 dated August 27, 2025 (as so amended, the "Schedule 13D"), relating to the shares of common stock, par value $0.01 (the "Common Stock"), of Great Elm Capital Corp., a Maryland corporation (the "Issuer"). Unless otherwise indicated, all capitalized terms used herein in this Amendment No. 14 shall have the meaning ascribed to them in Schedule 13D, and unless amended hereby, all information previously filed remains in effect.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Item 5 of the Schedule 13D is hereby amended and supplemented by adding the following:

(a) and (b) The aggregate percentage of Common Stock reported to be owned by the Reporting Person is based on 13,998,168 shares of Common Stock outstanding. The aggregate number of shares of Common Stock outstanding includes (i) 11,568,378 shares, which is the number of shares of Common Stock outstanding as reported on the Issuer's Quarterly Report on Form 10-Q for the Quarterly Period Ended June 30, 2025, filed August 4, 2025, (ii) 1,139,790  shares issued under the at-the market facility pursuant to the Equity Distribution Agreement as described in the Issuer's prospectus supplement dated May 6, 2025 ("ATM Facility") since the filing of the Issuer's Quarterly Report on Form 10-Q for the Quarterly Period Ended June 30, 2025 and (iii) 1,290,000 shares of Common Stock issued to Poor Richard LLC as reported on the Issuer's Current Report on Form 8-K, filed on August 27, 2025.

As of October 9, 2025, the Reporting Person may be deemed to beneficially own 1,358,276 shares of Common Stock, which represents approximately 9.7% of the issued and outstanding shares of Common Stock.

To the Reporting Person's knowledge, the directors and executive officers of the Reporting Person beneficially own in the aggregate 1,021,099 shares of Common Stock, which represents approximately 7.9% of the issued and outstanding shares of Common Stock.

**(b)**
—

**(c)**
Since the filing of Amendment No. 13 on August 27, 2025, the Reporting Person granted 79,803 shares of Common Stock owned by the Reporting Person as compensation to certain employees in exchange for no consideration and which were delivered by the Reporting Person (together with any accumulated stock dividends thereon) to such employees in connection with the vesting of such awards (or an applicable portion thereof) between September 19, 2025 and September 23, 2025.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Great Elm Group, Inc.

**Signature:** /s/ Keri A. Davis

**Name/Title:** Keri A. Davis/Chief Financial Officer & Chief Accounting Officer

**Date:** 10/09/2025