Great Elm Capital Group, Inc. (NASDAQ:GEC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 9.01 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of Brent J. Pearson

On October 3, 2018, Brent J. Pearson was appointed to serve as Chief Accounting Officer of Great Elm Capital Group, Inc. (the “Company”) , effective October 29, 2018.

Prior to joining the Company, Mr. Pearson, 37, was a Senior Manager in the audit practice at Deloitte & Touche LLP (“Deloitte”), a global professional audit, consulting, tax and advisory services firm.Mr. Pearson has been employed in various capacities in the audit practice at Deloitte since 2005.

In connection with his appointment, Mr. Pearson entered into an offer letter with the Company (the “Offer Letter”). Mr. Pearson’s initial compensation will consist of (i) an annual base salary of $205,000, (ii) a targeted annual bonus of $45,000 and (iii) subject to approval by the compensation committee of the Company’s board of directors, options to purchase 40,000 shares of the Company’s common stock at an exercise price based on the fair market value on the date such options are awarded, and subject to a five-year vesting schedule. In addition, Mr. Pearson will be eligible to participate in the employee benefit plans generally available to the Company’s executive officers, and the Company will reimburse Mr. Pearson for out-of-pocket expenses incurred in connection with the performance of his services under the Offer Letter.

The Offer Letter provides for a severance payment following termination of employment without cause or resignation for good reason consisting of 50% of the annual base salary. Mr. Pearson will be subject to certain restrictive covenants, including confidentiality and non-solicitation during his employment and for a specified period of time after the termination of his employment.

The foregoing description of the Offer Letter does not purport to be complete and is qualified in its entirety by the full text of the Offer Letter, a copy of which is attached hereto as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

There are no arrangements or understandings between Mr. Pearson and any other person to which he was selected as Chief Accounting Officer. There are no family relationships between Mr. Pearson and any director or executive officer of the Company, and Mr. Pearson has no direct or indirect material interest in any transaction required to be disclosed to Item 404(a) of Regulation S-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Great Elm Capital Group, Inc. Exhibit
EX-10.1 2 gec-ex101_14.htm EX-10.1 gec-ex101_14.htm Exhibit 10.1   October 3,…
To view the full exhibit click here

About Great Elm Capital Group, Inc. (NASDAQ:GEC)

Great Elm Capital Group, Inc., formerly Unwired Planet, Inc., is a holding company. The Company makes investments in businesses and assets in various industries. The Company’s investment for long-term value creation is in the asset management business. The Company continues to explore other opportunities in the investment management business, including other business development companies (BDCs) that trade at a discount to their net asset value. The Company intends to build a diversified investment company consisting of the following three business lines: investment management, financial products and merchant banking. It is embarking on a program of creating bespoke financial products and creating a pipeline of acquisition opportunities. The Company’s subsidiary is Great Elm Capital Corporation (GECC).