{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-22-007874","form_type":"8-K","ticker":"GECC","cik":"0001675033","company_name":"Great Elm Capital Corp.","filed_at":"2022-03-04T23:59:59+00:00","discovered_at":"2026-05-14T18:04:07.762066+00:00","generated_at":"2026-06-27T01:37:39.358587+00:00","sec_items":["2.02","3.01","5.02","8.01","9.01"],"event_type":"leadership","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Great Elm Capital posts Q4 net loss; CEO ousted amid Avanti impairment; new specialty finance focus","bullets":["Q4 2021 EPS -$4.95; NAV per share fell to $16.63 from $22.17; Avanti investments caused $26.6M unrealized loss.","CEO Peter Reed resigned; replaced by Matt Kaplan. Board chair Matthew Drapkin and new director Richard Cohen appointed.","Company noncompliant with Nasdaq Listing Rules 5605(b)(1) and 5605(c)(2)(A) due to board vacancies.","Quarterly dividends: $0.60 for Q1 2022 and $0.45 for Q2 2022 (10.8% annualized yield on pro forma NAV).","Acquired majority stake in Sterling Commercial Credit ($7.5M) and formed joint venture with Utica Leaseco for equipment financing."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-22-007874","json":"https://secwatch.observer/filing/0001140361-22-007874.json","markdown":"https://secwatch.observer/filing/0001140361-22-007874.md","text":"https://secwatch.observer/filing/0001140361-22-007874.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1675033/000114036122007874/0001140361-22-007874-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1675033/000114036122007874/ny20003136x2_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-27T01:37:39.358587+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0ce4a7cbba","claim":"Richard Cohen was appointed as Class I Director at Great Elm Capital Corp..","evidence_excerpt":"the Board also appointed Richard Cohen as a Class I director","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1675033/000114036122007874/0001140361-22-007874-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Class I Director"}],"fact_type":"executive_change"},{"claim_id":"3de569e9a7","claim":"Peter Reed resigned as Chief Executive Officer, President and Chairman at Great Elm Capital Corp..","evidence_excerpt":"On March 2, 2022, Peter Reed notified the Company that he would resign from his position as the Company’s Chief Executive Officer and President and as Chairman of the Board","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1675033/000114036122007874/0001140361-22-007874-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Chief Executive Officer, President and Chairman"}],"fact_type":"executive_change"},{"claim_id":"9c75db57ab","claim":"Michael Speller resigned as Director at Great Elm Capital Corp..","evidence_excerpt":"each of Randall Revell Horsey and Michael Speller notified the Company that they would resign from the Board","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1675033/000114036122007874/0001140361-22-007874-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"c09b010d89","claim":"Matt Kaplan was appointed as Chief Executive Officer and President at Great Elm Capital Corp..","evidence_excerpt":"On March 4, 2022, the Board appointed Matt Kaplan, age 35, as the Company’s Chief Executive Officer and President.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1675033/000114036122007874/0001140361-22-007874-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chief Executive Officer and President"}],"fact_type":"executive_change"},{"claim_id":"fe3213099f","claim":"Randall Revell Horsey resigned as Director at Great Elm Capital Corp..","evidence_excerpt":"each of Randall Revell Horsey and Michael Speller notified the Company that they would resign from the Board","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1675033/000114036122007874/0001140361-22-007874-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}