X0306 4 2018-05-29 0 0001675033 Great Elm Capital Corp. GECC 0001688208 Kuperschmid Mark C/O GREAT ELM CAPITAL CORP. 800 SOUTH STREET, SUITE 230 WALTHAM MA 02453 1 0 0 0 Common Stock 2018-05-29 4 P 0 1000 9.36 A 2000 I By Benmark Investments LLC Common Stock 2018-11-15 4 P 0 4531 8.06 A 6531 I By Benmark Investments LLC Common Stock 2018-11-16 4 P 0 1237 8.03 A 7768 I By Benmark Investments LLC The reporting person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of any of the reported shares for purposes of Section 16 or for any other purpose. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.03 to $8.09, inclusive. The reporting person undertakes to provide to Great Elm Capital Corp. ("GECC"), any security holder of GECC, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) and (3) to this Form 4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.02 to $8.04, inclusive. /s/ Adam M. Kleinman, Attorney-in-Fact for Reporting Person 2018-11-19