X0306 4 2020-04-10 0 0001082506 Great Elm Capital Group, Inc. GEC 0001479613 Reese Jason W. C/O IMPERIAL CAPITAL ASSET MANAGEMENT 10100 SANTA MONICA BLVD., SUITE 2400 LOS ANGELES CA 90067 1 0 1 0 0001805378 Imperial Capital Asset Management, LLC 10100 SANTA MONICA BLVD., SUITE 2400 LOS ANGELES CA 90067 0 0 1 0 0001308057 LONG BALL PARTNERS LLC C/O IMPERIAL CAPITAL ASSET MANAGEMENT 10100 SANTA MONICA BLVD., SUITE 2400 LOS ANGELES CA 90067 0 0 1 0 Common stock, par value $0.001 per share 2020-04-10 4 A 0 36517 0.00 A 36517 D Common stock, par value $0.001 per share 2319887 I See footnote Jason Reese was awarded 36,517 restricted shares that vest commencing April 10, 2020, with one-twelfth vesting each monthly anniversary of such date, contingent upon continued service as a member of the board of directors of Great Elm Capital Group, Inc. The Common Stock is held directly by Long Ball Partners, LLC ("Long Ball"). Mr. Reese is portfolio manager to Long Ball and is Chairman and Chief Executive Officer of Imperial Capital Asset Management, LLC ("ICAM"), which is the managing member and investment manager to Long Ball. Each of Mr. Reese and ICAM disclaims beneficial ownership of the securities held by Long Ball except to the extent of that person's pecuniary interest therein. Each of Long Ball and ICAM disclaims beneficial ownership of the securities held by Mr. Reese. Mr. Reese is a director and Executive Co-Chairman of the Issuer. The Reporting Persons are jointly filing this Form 4. Long Ball Partners, LLC, By: Imperial Capital Asset Management, LLC, its Managing Member, By: /s/ Jason Reese, Chairman & CEO 2020-04-28 Imperial Capital Asset Management, LLC, By: /s/ Jason Reese, Chairman & CEO 2020-04-28 Jason Reese, /s/ Jason Reese 2020-04-28