RAND CAPITAL CORP — Director's Dealing 2025

Sep 16, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RAND CAPITAL CORP (RAND)
CIK: 0000081955
Period of Report: 2025-09-15

Reporting Person: Gusky Adam Samuel (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-09-15	Common Stock	P	100	$14.60	Acquired	32616	Indirect
2025-09-15	Common Stock	P	100	$14.59	Acquired	32716	Indirect
2025-09-15	Common Stock	P	25	$14.58	Acquired	32741	Indirect
2025-09-15	Common Stock	P	10	$14.57	Acquired	32751	Indirect
2025-09-15	Common Stock	P	10	$14.60	Acquired	32761	Indirect
2025-09-15	Common Stock	P	100	$14.57	Acquired	32861	Indirect
2025-09-15	Common Stock	P	100	$14.55	Acquired	32961	Indirect
2025-09-15	Common Stock	P	25	$14.55	Acquired	32986	Indirect
2025-09-15	Common Stock	P	10	$14.56	Acquired	32996	Indirect
2025-09-15	Common Stock	P	100	$15.00	Acquired	33096	Indirect
2025-09-15	Common Stock	P	250	$15.00	Acquired	33346	Indirect
2025-09-15	Common Stock	P	200	$15.00	Acquired	33546	Indirect

Footnotes

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.