<SEC-DOCUMENT>0000899243-22-026428.txt : 20220720
<SEC-HEADER>0000899243-22-026428.hdr.sgml : 20220720
<ACCEPTANCE-DATETIME>20220720214738
ACCESSION NUMBER:		0000899243-22-026428
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220718
FILED AS OF DATE:		20220720
DATE AS OF CHANGE:		20220720

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Northern Right Capital Management, L.P.
		CENTRAL INDEX KEY:			0001346543
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39832
		FILM NUMBER:		221095449

	BUSINESS ADDRESS:	
		STREET 1:		9 OLD KINGS HWY. S.
		STREET 2:		4TH FLOOR
		CITY:			DARIEN
		STATE:			CT
		ZIP:			06820
		BUSINESS PHONE:		(203) 951-6084

	MAIL ADDRESS:	
		STREET 1:		9 OLD KINGS HWY. S.
		STREET 2:		4TH FLOOR
		CITY:			DARIEN
		STATE:			CT
		ZIP:			06820

	FORMER NAME:	
		FORMER CONFORMED NAME:	Becker Drapkin Management, L.P.
		DATE OF NAME CHANGE:	20100824

	FORMER NAME:	
		FORMER CONFORMED NAME:	SRB Management, L.P.
		DATE OF NAME CHANGE:	20051209

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BC Advisors LLC
		CENTRAL INDEX KEY:			0001349003
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39832
		FILM NUMBER:		221095446

	BUSINESS ADDRESS:	
		STREET 1:		500 CRESCENT COURT
		STREET 2:		SUITE 230
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201
		BUSINESS PHONE:		(214) 756-6016

	MAIL ADDRESS:	
		STREET 1:		500 CRESCENT COURT
		STREET 2:		SUITE 230
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Northern Right Capital (QP), L.P.
		CENTRAL INDEX KEY:			0001451722
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39832
		FILM NUMBER:		221095447

	BUSINESS ADDRESS:	
		STREET 1:		9 OLD KINGS HWY. S.
		STREET 2:		4TH FLOOR
		CITY:			DARIEN
		STATE:			CT
		ZIP:			06820
		BUSINESS PHONE:		(203) 951-5440

	MAIL ADDRESS:	
		STREET 1:		9 OLD KINGS HWY. S.
		STREET 2:		4TH FLOOR
		CITY:			DARIEN
		STATE:			CT
		ZIP:			06820

	FORMER NAME:	
		FORMER CONFORMED NAME:	BECKER DRAPKIN PARTNERS (QP), L.P.
		DATE OF NAME CHANGE:	20100820

	FORMER NAME:	
		FORMER CONFORMED NAME:	SRB GREENWAY OPPORTUNITY FUND (QP) LP
		DATE OF NAME CHANGE:	20081209

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			NRC Partners I, LP
		CENTRAL INDEX KEY:			0001763594
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39832
		FILM NUMBER:		221095448

	BUSINESS ADDRESS:	
		STREET 1:		9 OLD KINGS HIGHWAY SOUTH
		STREET 2:		4TH FLOOR
		CITY:			DARIEN
		STATE:			CT
		ZIP:			06820
		BUSINESS PHONE:		(203) 951-5440

	MAIL ADDRESS:	
		STREET 1:		9 OLD KINGS HIGHWAY SOUTH
		STREET 2:		4TH FLOOR
		CITY:			DARIEN
		STATE:			CT
		ZIP:			06820

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Great Elm Group, Inc.
		CENTRAL INDEX KEY:			0001831096
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				853622015
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		800 SOUTH STREET, SUITE 230
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02453
		BUSINESS PHONE:		(617) 375-3006

	MAIL ADDRESS:	
		STREET 1:		800 SOUTH STREET, SUITE 230
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02453
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<DESCRIPTION>FORM 4 SUBMISSION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2022-07-18</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001831096</issuerCik>
        <issuerName>Great Elm Group, Inc.</issuerName>
        <issuerTradingSymbol>GEG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001346543</rptOwnerCik>
            <rptOwnerName>Northern Right Capital Management, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9 OLD KINGS HWY. S.</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DARIEN</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06820</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>Member of 13D 10% Group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001763594</rptOwnerCik>
            <rptOwnerName>NRC Partners I, LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O NORTHERN RIGHT CAPITAL MANAGEMENT,</rptOwnerStreet1>
            <rptOwnerStreet2>L.P., 9 OLD KINGS HWY S., 4TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>DARIEN</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06820</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001451722</rptOwnerCik>
            <rptOwnerName>Northern Right Capital (QP), L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O NORTHERN RIGHT CAPITAL MANAGEMENT,</rptOwnerStreet1>
            <rptOwnerStreet2>L.P., 9 OLD KINGS HWY S., 4TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>DARIEN</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06820</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001349003</rptOwnerCik>
            <rptOwnerName>BC Advisors LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O NORTHERN RIGHT CAPITAL MANAGEMENT,</rptOwnerStreet1>
            <rptOwnerStreet2>L.P., 9 OLD KINGS HWY S., 4TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>DARIEN</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06820</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2022-07-18</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>3282</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.9984</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3197317</value>
                    <footnoteId id="F4"/>
                    <footnoteId id="F5"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F6"/>
                    <footnoteId id="F7"/>
                    <footnoteId id="F8"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2022-07-20</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>3658</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.984</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3200975</value>
                    <footnoteId id="F4"/>
                    <footnoteId id="F5"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F6"/>
                    <footnoteId id="F7"/>
                    <footnoteId id="F8"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents 1,087 shares of common stock of Great Elm Group, Inc. (&quot;GEG&quot;) purchased by Northern Right Capital (QP), L.P. (&quot;Northern Right QP&quot;), 345 shares of common stock of GEG purchased by NRC Partners I, LP (&quot;NRC Partners I&quot;) and 1,850 shares of common stock of GEG purchased by managed accounts (the &quot;Managed Accounts&quot;) on behalf of investment advisory clients of Northern Right Capital Management, L.P. (&quot;Northern Right Management&quot;). Northern Right Management acts as the investment manager for the Managed Accounts.</footnote>
        <footnote id="F2">Represents shares of common stock acquired in a transaction pursuant to the Rule 10b5-1 trading plan entered into by the Reporting Persons on June 16, 2022.</footnote>
        <footnote id="F3">Represents 1,203 shares of common stock of GEG purchased by Northern Right QP, 388 shares of common stock of GEG purchased by NRC Partners I and 2,067 shares of common stock of GEG purchased by the Managed Accounts on behalf of investment advisory clients of Northern Right Management. Northern Right Management acts as the investment manager for the Managed Accounts.</footnote>
        <footnote id="F4">As a result of a ministerial error made by the broker for the Reporting Persons, in the Form 4 filed by the Reporting Persons on June 13, 2022 (the &quot;June 13 Form 4&quot;) to report shares of common stock of GEG acquired by the Reporting Persons on June 9, 2022, the amount of securities acquired and the amount of securities beneficially owned following the reported transaction were incorrectly reported as 237,637 and 3,092,921, respectively. The correct amount of securities acquired and the correct amount of securities beneficially owned following the reported transaction reported in the June 13 Form 4 should have been 237,367 and 3,092,651, respectively. The broker's error was corrected in the Form 4 filed by the Reporting Persons on June 16, 2022, wherein the amount of securities beneficially owned following the reported transactions reflects the correct number of shares of common stock of GEG beneficially owned by the Reporting Persons as of the date thereof.</footnote>
        <footnote id="F5">(Continued Footnote 4) The amounts reported in this Form 4 also reflect the correction to the broker's error and are accurate as of the date hereof.</footnote>
        <footnote id="F6">Northern Right QP beneficially owns and has the power to vote or to direct the vote of 1,449,673 shares of common stock of GEG. NRC Partners I beneficially owns and has the power to vote or to direct the vote of 102,582 shares of common stock of GEG. The Managed Accounts, on behalf of certain investment advisory clients of Northern Right Management, beneficially own 1,648,720 shares of common stock of GEG.</footnote>
        <footnote id="F7">As general partner and investment manager of NRC Partners I and Northern Right QP, Northern Right Management may be deemed to be the beneficial owner of the securities held by NRC Partners I and Northern Right QP. As the investment manager of the Managed Accounts, Northern Right Management may also be deemed to be the beneficial owner of the securities held by such accounts. As the general partner of Northern Right Management, BC Advisors, LLC may be deemed to be the beneficial owner of the securities beneficially owned (or deemed beneficially owned) by Northern Right Management. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein that may be beneficially owned by any of the other Reporting Persons, in each case, except to the extent of any pecuniary interest therein,and this report shall not be deemed an admission that any such entity or person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of</footnote>
        <footnote id="F8">(Continued Footnote 7) Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.</footnote>
    </footnotes>

    <remarks>The Reporting Persons are jointly filing this Form 4.</remarks>

    <ownerSignature>
        <signatureName>Northern Right Capital Management, L.P., By: BC Advisors, LLC, its general partner, By: /s/ Matthew A. Drapkin, Matthew A. Drapkin, Authorized Signatory</signatureName>
        <signatureDate>2022-07-20</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>NRC Partners I, LP, By: Northern Right Capital Management, L.P., its general partner, By: BC Advisors, LLC, its general partner, By: /s/ Matthew A. Drapkin, Matthew A. Drapkin, Authorized Signatory</signatureName>
        <signatureDate>2022-07-20</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Northern Right Capital (QP), L.P., By: Northern Right Capital Management, L.P., its general partner, By: BC Advisors, LLC, its general partner, By: /s/ Matthew A. Drapkin, Matthew A. Drapkin, Authorized Signatory</signatureName>
        <signatureDate>2022-07-20</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>BC Advisors, LLC, By: /s/ Matthew A. Drapkin, Matthew A. Drapkin, Authorized Signatory</signatureName>
        <signatureDate>2022-07-20</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
