Adam Gusky - Dec 5, 2022 Form 4 Insider Report for RAND CAPITAL CORP (RAND)

Role: Director
Signature: /s/ Daniel Penberthy on behalf of Adam Samuel Gusky (2)
Stock symbol: RAND
Transactions as of: Dec 5, 2022
Transactions value $: $23,200
Form type: 4
Date filed: 12/7/2022, 03:59 PM
Previous filing: Sep 2, 2022
Next filing: Mar 14, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RAND	Common Stock	Purchase	$1.94K	+134	+0.69%	$14.50	19.5K	Dec 5, 2022	By LLC	F1
transaction	RAND	Common Stock	Purchase	$21.3K	+1.47K	+7.53%	$14.50	20.9K	Dec 6, 2022	By LLC	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	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.

Remarks:

(2) Daniel Penberthy is signing on behalf of Mr. Gusky pursuant to a power of attorney dated December 1, 2021, which was previously filed with the Securities and Exchange Commission as an exhibit to the Form 4 Mr. Gusky filed on March 15, 2022.