X0306 4/A 2017-01-05 2017-01-05 0 0001082506 Great Elm Capital Group, Inc. GEC 0001323913 Wilson Hugh Steven C/O GREAT ELM CAPITAL GROUP, INC 200 CLARENDON ST. 51ST FLOOR BOSTON MA 02116 1 0 0 0 COMMON STOCK 2017-01-05 4 P 0 34236 3.584 A 70331 D Represents the weighted average sales price for a number of transactions effected at prices ranging from $3.5499 to $3.60. The reporting person has provided to the issuer, and undertakes to provide upon request to the SEC staff, or any security holder of the issuer, information regarding the number of shares sold at each separate price within the range. /s/ Richard S Chernicoff as Attorney-in-Fact for Reporting Person 2017-01-09