Business Context and Reporting Period
This Form 8-K Current Report was filed by Great Elm Capital Corp. on March 15, 2022. The filing primarily addresses corporate governance changes, specifically the appointment of a new director to the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses on personnel appointments rather than financial performance data.
Material Changes
- Board Appointment: On March 15, 2022, the Board appointed Chad Perry as a Class III Director to fill a vacancy.
- Committee Roles: Mr. Perry will serve as Chairman of the Compensation Committee and as a member of the Audit Committee and the Nominating & Corporate Governance Committee.
- Regulatory Compliance: The appointment ensures compliance with Nasdaq Listing Rule 5605(b)(1) regarding a majority of independent directors and Rule 5605(c)(2)(A) regarding the composition of the Audit Committee.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, outlook, or management commentary on market conditions. No specific risks or contingencies were disclosed in this report. Mr. Perry will receive standard compensation for non-employee directors and will enter into a standard indemnification agreement.
Investor Verification Checklist
- Verify the independence status of Chad Perry to confirm continued Nasdaq compliance.
- Review the Company's 2021 Proxy Statement for details on the standard director compensation package.
- Confirm the effective date of Mr. Perry's service on the Audit Committee.