GECC posts Q1 NII $0.36/shr, appoints Jason Reese CEO, waives incentive fees

Great Elm Capital Corp.

2026-Q1 EPS reported -$0.05

Q1 NII $5.0M ($0.36/shr) vs $4.4M ($0.31/shr) QoQ; total investment income $9.5M, down from $12.6M.
Jason Reese appointed CEO effective May 1, 2026, succeeding Matt Kaplan; Kaplan remains at external adviser GECM.
Adviser waived all accrued incentive fees through Q2 2026, including $2.8M ($0.20/shr) already waived through March 31.
Board declares $0.25/shr Q2 dividend, 18% annualized yield on $5.56 closing price; payable June 30 to holders of record June 15.
Called/redeemed all $57.5M GECCO notes due 2026; no funded debt maturity until 2029; asset coverage 161.8%.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Matt Kaplan

President and Chief Executive Officer

GECC · Great Elm Capital Corp.

Effective: 2026-05-01
Successor: Jason W. Reese
Filed: May 4, 2026, 7:59 PM ET

Upon Mr. Reese's assumption of this role, Matt Kaplan, who was appointed President and Chief Executive Officer of the Company effective March 4, 2022, concluded his service as the Company's President and Chief Executive Officer.

Appointed

Jason W. Reese

Chief Executive Officer

GECC · Great Elm Capital Corp.

Effective: 2026-05-01
Filed: May 4, 2026, 7:59 PM ET

On May 1, 2026, the Company's board of directors appointed Jason W. Reese to serve as the Company’s Chief Executive Officer effective immediately following the filing of the Company’s Form 10-Q for the period ended March 31, 2026.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Great Elm Capital Corp. reported the first quarter ended March 31, 2026 results: revenue $9.5 million, net income $5.0 million, or $0.36 per share, EPS $(0.05).

Period: the first quarter ended March 31, 2026
Revenue: $9.5 million
Net income: $5.0 million, or $0.36 per share
EPS: $(0.05)
Result: reported results

Exact text from the filing

approximately 0.1 million shares for $0.5 million, at an average price of $4.98 per share or a 36% discount to the Company’s NAV on March 31, 2026, leaving approximately $9.5 million of remaining capacity under the program for future repurchases. First Quarter and Recent Operating Highlights ▪ Total investment income (“TII”) for the quarter ended March 31,

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Matt Kaplan departed as President and Chief Executive Officer at Great Elm Capital Corp..

Action: concluded his service as
Role: President and Chief Executive Officer

Exact text from the filing

Upon Mr. Reese's assumption of this role, Matt Kaplan, who was appointed President and Chief Executive Officer of the Company effective March 4, 2022, concluded his service as the Company's President and Chief Executive Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jason W. Reese was appointed as Chief Executive Officer at Great Elm Capital Corp..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On May 1, 2026, the Company's board of directors appointed Jason W. Reese to serve as the Company’s Chief Executive Officer effective immediately following the filing of the Company’s Form 10-Q for the period ended March 31, 2026.

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-26-204241

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