Form 4: Mario J. Gabelli Disposes of 70,000 Series B Preferred Shares in Gabelli Global Utility & Income Trust

Mario J. Gabelli, a control person of the adviser to Gabelli Global Utility & Income Trust, disposed of 70,000 Series B preferred shares through a put option.

Summary

• Mario J. Gabelli, a control person of the adviser to Gabelli Global Utility & Income Trust, disposed of 70,000 Series B Cumulative Puttable and Callable Preferred Shares.
• The transaction occurred on December 26, 2024, with the shares being surrendered to the fund at a price of $50 per share.
• The shares were indirectly held through Associated Capital Group, Inc. (ACG), where Mr. Gabelli is the Executive Chair and controlling shareholder.
• Mr. Gabelli disclaims beneficial ownership of the shares held by ACG that exceed his indirect pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of an insider transaction, which is neither positive nor negative in itself. It is a neutral event.

Industry Context

This transaction reflects changes in the holdings of a significant insider of a closed-end fund, which is a common occurrence in the financial industry.

Comparison to Industry Standards

• Insider transactions are a regular part of the financial markets, and this transaction is similar to other filings where significant shareholders adjust their holdings.
• The use of put options to dispose of shares is a standard practice in the industry.

Stakeholder Impact

• The transaction may have a minor impact on the market perception of the stock, but it is not expected to significantly affect the company's operations or financial health.

Key Dates

Keywords

Gabelli Global Utility & Income Trust, Series B Preferred Shares, Mario J. Gabelli, Associated Capital Group, Put Option, Share Disposal, Control Person