ZIZZA SALVATORE J 4

What Happened

• Salvatore J. Zizza, a director of Gabelli Equity Trust (ticker: GAB), acquired a total of 2,080 common shares on 2026-04-28 by exercising common stock purchase rights. The transaction shows two allotments: 1,647 shares at $5.00 ($8,235) and 433 shares at $5.00 ($2,165), for a combined cost of $10,400. This is an acquisition (insider buy), not a sale.

Key Details

• Transaction date: 2026-04-28; Filing date: 2026-04-30 (filed within the normal Form 4 window).
• Prices and amounts: 1,647 shares @ $5.00 = $8,235; 433 shares @ $5.00 = $2,165; total 2,080 shares = $10,400.
• Transaction code: reported as "Other acquisition or disposition (J)"; footnote F1 clarifies the shares were acquired through exercise of common stock purchase rights.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• No 10b5-1 plan, cashless sale, or withholding-related disposition is indicated in the filing.

Context

• Exercising purchase rights means the insider used a contractual right to buy shares at a set price (in this case $5.00). This is different from selling or receiving an award; it increases the insider’s direct holdings.
• Insider purchases can be of interest to retail investors as a potential signal, but the size here ($10.4k) is modest and Zizza is a board director (not reported as a >10% holder). The filing contains no indication the shares were immediately sold.