{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-26-008935","form_type":"8-K","ticker":"RAND","cik":"0000081955","company_name":"RAND CAPITAL CORP","filed_at":"2026-03-05T23:59:59+00:00","discovered_at":"2026-05-14T18:02:37.771984+00:00","generated_at":"2026-05-15T21:15:34.014972+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Rand Capital Q4 investment income $1.3M (-40% YoY); full year NII per share up 35%","bullets":["Q4 total investment income $1.3M, down 40% YoY; net investment income $0.20 per share vs $0.86.","Full year 2025 net investment income per share $1.80, up 35% from $1.33 in 2024.","NAV per share $17.57 at Dec 31, 2025; total liquidity >$23M with no debt outstanding.","Portfolio fair value $48.5M (20 companies) down 32% from 2024; debt investments 79%.","Declared $0.29 quarterly dividend payable Mar 25, 2026; total 2025 dividends $1.72 per share."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-008935","json":"https://secwatch.observer/filing/0001493152-26-008935.json","markdown":"https://secwatch.observer/filing/0001493152-26-008935.md","text":"https://secwatch.observer/filing/0001493152-26-008935.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/81955/000149315226008935/0001493152-26-008935-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/81955/000149315226008935/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T21:15:34.014972+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}