RAND

SEC source: 0001493152-22-024194 · ownership.xml · nonDerivative · entry 4

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 18,527

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-22-024194 · ownership.xml · nonDerivative · entry 3

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 18,462

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-22-024194 · ownership.xml · nonDerivative · entry 2

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 18,432

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-22-024194 · ownership.xml · nonDerivative · entry 1

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 18,402

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-22-023965 · ownership.xml · nonDerivative · entry 3

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 18,386

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-22-023965 · ownership.xml · nonDerivative · entry 2

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 18,344

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-22-023965 · ownership.xml · nonDerivative · entry 1

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 18,340

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-22-016141 · ownership.xml · nonDerivative · entry 1

PENBERTHY DANIEL P · CIK 0001057068 · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,269

SEC source: 0001493152-22-014227 · ownership.xml · nonDerivative · entry 1

KAILBOURNE ERLAND E · CIK 0001085459 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,861

SEC source: 0001493152-22-014210 · ownership.xml · nonDerivative · entry 2

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 18,238

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-22-014210 · ownership.xml · nonDerivative · entry 1

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 18,237

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-22-012887 · ownership.xml · nonDerivative · entry 2

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 18,125

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-22-012887 · ownership.xml · nonDerivative · entry 1

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 16,625

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-22-012865 · ownership.xml · nonDerivative · entry 1

Godley Benjamin E · CIK 0001792915 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 20,000

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $14.61 to $14.92, inclusive. The reporting person undertakes to provide to Rand Capital Corporation, any security holder of Rand Capital Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote (1) to this Form 4.

SEC source: 0001493152-22-006898 · ownership.xml · nonDerivative · entry 2

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 9,081

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-22-006888 · ownership.xml · nonDerivative · entry 1

KAILBOURNE ERLAND E · CIK 0001085459 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,861

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $16.03 to $16.49, inclusive. The reporting person undertakes to provide to Rand Capital Corporation, any security holder of Rand Capital Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote (1) to this Form 4.

SEC source: 0001493152-22-006773 · ownership.xml · nonDerivative · entry 2

ZAK ROBERT M · CIK 0001265781 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 18,409

F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $16.47 to $16.51, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote (2) to this Form 4.

SEC source: 0001493152-22-006773 · ownership.xml · nonDerivative · entry 1

ZAK ROBERT M · CIK 0001265781 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 18,153

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $15.25 to $15.99, inclusive. The reporting person undertakes to provide to Rand Capital Corporation (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote (1) to this Form 4.

SEC source: 0001493152-22-006898 · ownership.xml · nonDerivative · entry 1

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 8,581

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-21-031319 · ownership.xml · nonDerivative · entry 2

East Asset Management, LLC · CIK 0001793591 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,658,212

F1 · ownership.direct: Adam Gusky may be deemed to have voting and dispositive power over these shares due to his position as chief investment officer of East Asset Management, LLC ("East"). Mr. Gusky disclaims beneficial ownership over the shares held by East.

SEC source: 0001493152-21-031319 · ownership.xml · nonDerivative · entry 1

East Asset Management, LLC · CIK 0001793591 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,652,592

F1 · ownership.direct: Adam Gusky may be deemed to have voting and dispositive power over these shares due to his position as chief investment officer of East Asset Management, LLC ("East"). Mr. Gusky disclaims beneficial ownership over the shares held by East.

SEC source: 0001493152-21-030636 · ownership.xml · nonDerivative · entry 2

East Asset Management, LLC · CIK 0001793591 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,648,912

F1 · ownership.direct: Adam Gusky may be deemed to have voting and dispositive power over these shares due to his position as chief investment officer of East Asset Management, LLC ("East"). Mr. Gusky disclaims beneficial ownership over the shares held by East.

SEC source: 0001493152-21-030636 · ownership.xml · nonDerivative · entry 1

East Asset Management, LLC · CIK 0001793591 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,645,161

F1 · ownership.direct: Adam Gusky may be deemed to have voting and dispositive power over these shares due to his position as chief investment officer of East Asset Management, LLC ("East"). Mr. Gusky disclaims beneficial ownership over the shares held by East.

SEC source: 0001493152-21-030441 · ownership.xml · nonDerivative · entry 1

KAILBOURNE ERLAND E · CIK 0001085459 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,861

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $16.89 to $16.99, inclusive. The reporting person undertakes to provide to Rand Capital Corporation, any security holder of Rand Capital Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote (1) to this Form 4.

SEC source: 0001493152-21-030195 · ownership.xml · nonDerivative · entry 2

East Asset Management, LLC · CIK 0001793591 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,645,151

F1 · ownership.direct: Adam Gusky may be deemed to have voting and dispositive power over these shares due to his position as chief investment officer of East Asset Management, LLC ("East"). Mr. Gusky disclaims beneficial ownership over the shares held by East.

SEC source: 0001493152-21-030195 · ownership.xml · nonDerivative · entry 1

East Asset Management, LLC · CIK 0001793591 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,642,346

F1 · ownership.direct: Adam Gusky may be deemed to have voting and dispositive power over these shares due to his position as chief investment officer of East Asset Management, LLC ("East"). Mr. Gusky disclaims beneficial ownership over the shares held by East.

SEC source: 0001493152-21-029900 · ownership.xml · nonDerivative · entry 3

East Asset Management, LLC · CIK 0001793591 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,642,337

F1 · ownership.direct: Adam Gusky may be deemed to have voting and dispositive power over these shares due to his position as chief investment officer of East Asset Management, LLC ("East"). Mr. Gusky disclaims beneficial ownership over the shares held by East.

SEC source: 0001493152-21-029900 · ownership.xml · nonDerivative · entry 2

East Asset Management, LLC · CIK 0001793591 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,641,743

F1 · ownership.direct: Adam Gusky may be deemed to have voting and dispositive power over these shares due to his position as chief investment officer of East Asset Management, LLC ("East"). Mr. Gusky disclaims beneficial ownership over the shares held by East.

SEC source: 0001493152-21-029900 · ownership.xml · nonDerivative · entry 1

East Asset Management, LLC · CIK 0001793591 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,641,643

F1 · ownership.direct: Adam Gusky may be deemed to have voting and dispositive power over these shares due to his position as chief investment officer of East Asset Management, LLC ("East"). Mr. Gusky disclaims beneficial ownership over the shares held by East.

SEC source: 0001493152-21-029160 · ownership.xml · nonDerivative · entry 2

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 7,581

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-21-029160 · ownership.xml · nonDerivative · entry 1

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 6,129

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-21-028824 · ownership.xml · nonDerivative · entry 9

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 6,123

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-21-028824 · ownership.xml · nonDerivative · entry 8

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 6,010

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-21-028824 · ownership.xml · nonDerivative · entry 7

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 6,009

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-21-028824 · ownership.xml · nonDerivative · entry 6

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 5,934

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-21-028824 · ownership.xml · nonDerivative · entry 5

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 5,849

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-21-028824 · ownership.xml · nonDerivative · entry 4

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 5,845

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-21-028824 · ownership.xml · nonDerivative · entry 3

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 5,745

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-21-028824 · ownership.xml · nonDerivative · entry 2

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 5,545

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-21-028824 · ownership.xml · nonDerivative · entry 1

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 5,542

F1 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-20-017429 · ownership.xml · nonDerivative · entry 1

East Asset Management, LLC · CIK 0001793591 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,641,640

F1 · ownership.direct: Adam Gusky may be deemed to have voting and dispositive power over these shares due to his position as chief investment officer of East Asset Management, LLC ("East"). Mr. Gusky disclaims beneficial ownership over the shares held by East.

SEC source: 0001493152-20-017172 · ownership.xml · nonDerivative · entry 1

East Asset Management, LLC · CIK 0001793591 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,639,037

F1 · ownership.direct: Adam Gusky may be deemed to have voting and dispositive power over these shares due to his position as chief investment officer of East Asset Management, LLC ("East"). Mr. Gusky disclaims beneficial ownership over the shares held by East.

SEC source: 0001493152-20-017172 · ownership.xml · nonDerivative · entry 2

East Asset Management, LLC · CIK 0001793591 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,637,184

F1 · ownership.direct: Adam Gusky may be deemed to have voting and dispositive power over these shares due to his position as chief investment officer of East Asset Management, LLC ("East"). Mr. Gusky disclaims beneficial ownership over the shares held by East.

SEC source: 0001493152-20-017172 · ownership.xml · nonDerivative · entry 3

East Asset Management, LLC · CIK 0001793591 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,635,484

F1 · ownership.direct: Adam Gusky may be deemed to have voting and dispositive power over these shares due to his position as chief investment officer of East Asset Management, LLC ("East"). Mr. Gusky disclaims beneficial ownership over the shares held by East.

SEC source: 0001493152-20-016960 · ownership.xml · nonDerivative · entry 1

East Asset Management, LLC · CIK 0001793591 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,631,813

F1 · ownership.direct: Adam Gusky may be deemed to have voting and dispositive power over these shares due to his position as chief investment officer of East Asset Management, LLC ("East"). Mr. Gusky disclaims beneficial ownership over the shares held by East.

SEC source: 0001493152-20-016960 · ownership.xml · nonDerivative · entry 2

East Asset Management, LLC · CIK 0001793591 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,628,485

F1 · ownership.direct: Adam Gusky may be deemed to have voting and dispositive power over these shares due to his position as chief investment officer of East Asset Management, LLC ("East"). Mr. Gusky disclaims beneficial ownership over the shares held by East.

SEC source: 0001493152-20-016960 · ownership.xml · nonDerivative · entry 3

East Asset Management, LLC · CIK 0001793591 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,628,484

F2 · balance_after: Securities beneficially owned have been adjusted to take into account the reverse stock split effective as of the close of business on May 21, 2020.

F3 · balance_after: Includes shares acquired in connection with Rand Capital Corporation's distribution declared on March 3, 2020 since the filing of East Asset Management's previous beneficial ownership report on Form 3 on November 15, 2019.

F1 · ownership.direct: Adam Gusky may be deemed to have voting and dispositive power over these shares due to his position as chief investment officer of East Asset Management, LLC ("East"). Mr. Gusky disclaims beneficial ownership over the shares held by East.

SEC source: 0001493152-20-016643 · ownership.xml · nonDerivative · entry 1

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 5,421

F1 · price: The price reported in Column 4 is a weighted-average price, rounded to the nearest hundredth. These shares were purchased in multiple transactions at prices ranging from $11.15 to $11.64 per share, inclusive. The reporting person undertakes to provide upon request by the staff of the Securities and Exchange Commission, Rand Capital Corporation (the "Issuer") or a security holder of the Issuer full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-20-016643 · ownership.xml · nonDerivative · entry 2

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 4,402

F3 · price: The price reported in Column 4 is a weighted-average price, rounded to the nearest hundredth. These shares were purchased in multiple transactions at prices ranging from $11.14 to $11.40 per share, inclusive. The reporting person undertakes to provide upon request by the staff of the Securities and Exchange Commission, Rand Capital Corporation (the "Issuer") or a security holder of the Issuer full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.

SEC source: 0001493152-20-016643 · ownership.xml · nonDerivative · entry 3

Gusky Adam Samuel · CIK 0001792912 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLC

Disclosed balance after: 3,124

F4 · price: The price reported in Column 4 is a weighted-average price, rounded to the nearest hundredth. These shares were purchased in multiple transactions at prices ranging from $11.20 to $11.30 per share, inclusive. The reporting person undertakes to provide upon request by the staff of the Securities and Exchange Commission, Rand Capital Corporation (the "Issuer") or a security holder of the Issuer full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.