---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-204241"
form_type: "8-K"
ticker: "GECC"
cik: "0001675033"
company_name: "Great Elm Capital Corp."
filed_at: "2026-05-04T23:59:59+00:00"
generated_at: "2026-05-14T23:55:57.426138+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001193125-26-204241
- form_type: 8-K
- ticker: GECC
- cik: 0001675033
- company_name: Great Elm Capital Corp.
- filed_at: 2026-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1675033/000119312526204241/0001193125-26-204241-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1675033/000119312526204241/gecc-20260501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-204241
- JSON: https://secwatch.observer/filing/0001193125-26-204241.json
- Plain text: https://secwatch.observer/filing/0001193125-26-204241.txt

## Key facts
- Earnings Releases
  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
  source text: 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,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1675033/000119312526204241/0001193125-26-204241-index.htm
- Executive change
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1675033/000119312526204241/0001193125-26-204241-index.htm
- Executive change
  Jason W. Reese was appointed as Chief Executive Officer at Great Elm Capital Corp..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1675033/000119312526204241/0001193125-26-204241-index.htm

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