Business Context and Reporting Period
This Form 8-K Current Report was filed by Great Elm Capital Corp. on March 18, 2021, covering events occurring on March 15, 2021, and March 16, 2021. The Company is a Maryland corporation with its principal executive offices in Waltham, MA. Its securities, including common stock and various series of notes, are registered on the Nasdaq Global Market.
Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The report focuses exclusively on corporate governance changes.
Material Changes
- Director Resignation: John E. Stuart resigned from the Board of Directors effective after the filing of the Company's Annual Report on Form 10-K on March 16, 2021. The resignation was not the result of any disagreement with the Company.
- Director Appointment: On March 16, 2021, the Board appointed Erik A. Falk as a Class II Director to fill the vacancy created by Mr. Stuart's resignation. Mr. Falk, Head of Strategy at Magnetar Capital since September 2017, is eligible for re-election at the 2021 Annual Meeting of Stockholders.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or discussion of risks and contingencies. Regarding compensation, Mr. Falk will receive the standard compensation provided to non-employee directors as described in the 2020 proxy statement, and the Company has entered into a standard indemnification agreement with him.
Key Facts for Investor Verification
- Verify the effective date of John E. Stuart's resignation relative to the March 16, 2021, 10-K filing.
- Confirm Erik A. Falk's background and tenure at Magnetar Capital.
- Review the Company's 2020 proxy statement to understand the specific compensation package for non-employee directors applicable to Mr. Falk.
- Check the Company's 2021 Annual Meeting of Stockholders materials for the election status of Class II Directors.