---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-018067"
form_type: "8-K"
ticker: "GEG"
cik: "0001831096"
company_name: "Great Elm Group, Inc."
filed_at: "2023-05-05T23:59:59+00:00"
generated_at: "2026-06-15T17:24:25.544497+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Great Elm Group CEO resigns, new CEO appointed; Q3 revenue up 92%, net loss narrows

## Summary
- Peter Reed resigned as CEO; Jason Reese appointed Chairman and CEO effective May 4, 2023.
- Reed severance: $20,833/month consulting, 9,183 GECC shares vesting, $300K in GECC shares, extended option exercises.
- Q3 fiscal 2023: revenue $1.9M (+92% YoY), net loss from continuing ops $0.5M (from $6.5M loss), Adj. EBITDA -$1.2M.
- DME business sold for $80M netting ~$26M cash + 346K Quipt shares; Forest sales raised ~$45M total.
- Cash and equivalents >$84M; AUM $630.7M, fee-paying AUM $438.3M.

## SEC filing metadata
- accession: 0000950170-23-018067
- form_type: 8-K
- ticker: GEG
- cik: 0001831096
- company_name: Great Elm Group, Inc.
- filed_at: 2023-05-05T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1831096/000095017023018067/0000950170-23-018067-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831096/000095017023018067/geg-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-018067
- JSON: https://secwatch.observer/filing/0000950170-23-018067.json
- Plain text: https://secwatch.observer/filing/0000950170-23-018067.txt

## Key facts
- Earnings Releases
  Great Elm Group, Inc. reported fiscal third quarter ended March 31, 2023 results: revenue $1.9 million, net income $0.5 million.
  - Period: fiscal third quarter ended March 31, 2023
  - Revenue: $1.9 million
  - Net income: $0.5 million
  - Result: reported results
  source text: During the three months ended March 31, 2023, GEG reported total revenue of $1.9 million, a 92% increase compared to $1.0 million during the same period in the prior year. The increase primarily related to the May 2022 acquisition of the Monomoy REIT management agreement. During the three months ended March 31, 2023, GEG recorded a net loss from continuing operations of $0.5 million, compared to a net loss from continuing operations of $6.5 million during the same period in the prior year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831096/000095017023018067/0000950170-23-018067-index.htm
- Executive change
  Peter A. Reed resigned as Chief Executive Officer at Great Elm Group, Inc..
  - Action: resigned
  - Role: Chief Executive Officer
  source text: On May 4, 2023, Peter A. Reed resigned as Chief Executive Officer of the Company, effective immediately following the filing of the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831096/000095017023018067/0000950170-23-018067-index.htm
- Executive change
  Jason W. Reese was appointed as Chairman and Chief Executive Officer at Great Elm Group, Inc..
  - Action: appointed
  - Role: Chairman and Chief Executive Officer
  source text: On May 4, 2023, the Company appointed Jason W. Reese, age 57, as the Company’s Chairman and Chief Executive Officer, effective immediately following Mr. Reed’s resignation.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831096/000095017023018067/0000950170-23-018067-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.