GABELLI MARIO J 4

What Happened Mario J. Gabelli, reported as a 10% owner, executed a sale of 800 shares of GDL FUND (GDL) on 2026-02-23. The shares were sold at $8.52 per share for a total proceeds of $6,816. This transaction is coded as a sale (S) on the Form 4 and is described in the filing as an "open market or private sale." Sales are often routine and do not necessarily indicate a change in company outlook.

Key Details

• Transaction date and price: 2026-02-23 — 800 shares sold at $8.52 per share.
• Total value: $6,816.
• Transaction code: S (Sale); filing describes it as "Open market or private sale."
• Filing date: 2026-02-24 — filed one day after the reported transaction (timely).
• Shares owned after transaction: Not specified in the provided summary of the filing.
• Footnotes: Several footnotes (F1–F5) clarify that the reported shares reflect holdings of affiliated entities (Associated Capital Group, Gabelli & Company Investment Advisers, GGCP, GPJ Retirement Partners, and GAMCO). Mr. Gabelli is a controlling shareholder or officer of those entities but disclaims beneficial ownership beyond his indirect pecuniary interest.

Context

• This is a sale by a 10% owner and may reflect transactions by affiliated entities rather than direct personal trading. Such sales are common and do not by themselves indicate management sentiment about the company’s prospects.