GABELLI MARC 4

What Happened

• Marc Gabelli, a reported 10% owner of LGL Group Inc. (LGL), exercised options and received equity awards on 2026-01-16. He exercised/converted 8,552 shares at $4.75 per share (total cash paid $40,622). In addition, he was reported as acquiring three awards totaling 200,000 shares (50,000; 100,000 (derivative); 50,000 (derivative)) with reported acquisition value $0 on the Form 4.

Key Details

• Transaction date: 2026-01-16; Form 4 filed: 2026-01-21 (filed 5 days after the transaction).
• Exercise: 8,552 shares at $4.75 each = $40,622.
• Awards: 50,000 shares (A) reported at $0; 100,000 shares (A, derivative) at $0; 50,000 shares (A, derivative) at $0 — total newly reported awards = 200,000 shares.
• Total shares acquired per filing: 208,552 shares.
• Shares owned after the transaction: not specified in the provided filing details.
• Footnotes (vesting/exercisability):
  • F1: One‑third of the 50,000 award vests immediately, one‑third on 1/16/2027, one‑third on 1/16/2028.
  • F2: For the 100,000 award, 60% exercisable immediately, 20% on 1/16/2027 and 20% on 1/16/2028.
  • F3: The 50,000 derivative award is 100% exercisable immediately.
• Timeliness: The Form 4 was filed 5 days after the transactions; Form 4s are generally required within two business days, so this filing appears late.

Context

• The 8,552‑share action was an option exercise/conversion where Gabelli paid cash ($4.75/share) to acquire shares—shares were acquired, not sold. The awards appear to be stock/derivative grants with staggered vesting or exercisability per the footnotes.
• As a 10% owner, Gabelli is a substantial shareholder; such filings can reflect ownership changes by a major investor rather than routine executive trading. The grants and immediate exercisability portions may increase his effective voting/ownership stake sooner rather than later.