RAND CAPITAL CORP — Director's Dealing 2021

Feb 12, 2021

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: RAND CAPITAL CORP (RAND)
CIK: 0000081955
Period of Report: 2020-12-31

Reporting Person: PENBERTHY DANIEL P (Chief Financial Officer)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	15269	Direct

Footnotes

F1: On March 3, 2020, Rand Capital Corporation (the "Issuer") declared a special dividend, which, subject to an election by each shareholder and proration limitations, was paid partially in cash and partially in shares of the Issuer's common stock. The reporting person's shares reported in this report include the shares of the Issuer's common stock acquired pursuant to the special dividend.

F2: On May 21, 2020, the Issuer completed a 1-for-9 reverse stock split of the Issuer's common stock. The reporting person's shares reported in this report reflect the effect of the 1-for-9 reserve stock split.