Form 4: Mario Gabelli Reports Surrender of Gabelli Healthcare & WellnessRx Trust Preferred Shares

Mario J. Gabelli, a Director and 10% Owner of Gabelli Healthcare & WellnessRx Trust, reported a surrender of Series E Cumulative Preferred Shares to the fund at $10 per share, resulting in a beneficial ownership of 830,000 direct and 200,000 indirect shares.

Summary

• Mario J. Gabelli, serving as a Director, 10% Owner, and Control Person of Adviser for Gabelli Healthcare & WellnessRx Trust (GRX.E), reported a transaction involving Series E Cumulative Preferred Shares.
• On June 26, 2025, shares were surrendered to the Gabelli Healthcare & WellnessRx Trust in accordance with a Right to Put to the Fund up to 100% of Outstanding Series E Cumulative Preferred Shares.
• The price for the surrendered shares was $10 per share.
• Following this transaction, Mario J. Gabelli beneficially owns 830,000 Series E Cumulative Preferred Shares directly.
• Additionally, 200,000 Series E Cumulative Preferred Shares are indirectly beneficially owned through Associated Capital Group, Inc., where Mr. Gabelli is the Executive Chair and controlling shareholder, though he disclaims beneficial ownership of shares in excess of his indirect pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a factual report of an insider transaction, providing no explicit positive or negative performance indicators for the company or the transaction itself beyond the details of the surrender.

Future Outlook

No forward-looking statements or guidance are provided in this document.

Management Comments

• Shares were surrendered in accordance with Right to Put to the Fund up to 100% of Outstanding Series E Cumulative Preferred Shares.
• Mr. Gabelli has less than a 100% interest in Associated Capital Group, Inc. and disclaims beneficial ownership of the shares held by it which are in excess of his indirect pecuniary interest.

Industry Context

This document is an insider transaction report and does not provide broader industry trends or competitive analysis.

Comparison to Industry Standards

• Not applicable as this document reports an individual insider transaction rather than company financial or operational results or industry benchmarks.

Related Party Transactions

• Mario J. Gabelli's indirect beneficial ownership of 200,000 Series E Cumulative Preferred Shares is through Associated Capital Group, Inc., where he serves as Executive Chair and controlling shareholder, indicating a related party relationship.

Stakeholder Impact

• Shareholders may note the change in beneficial ownership by a significant insider, which could be interpreted as a strategic move related to the preferred shares.
• The company (Gabelli Healthcare & WellnessRx Trust) is directly involved as the recipient of the surrendered shares via the put right, potentially impacting its capital structure or liquidity depending on the scale of the transaction.

Key Dates

Keywords

Gabelli Healthcare & WellnessRx Trust, GRX.E, Mario J. Gabelli, SEC Form 4, Beneficial Ownership, Preferred Shares, Insider Transaction, Corporate Governance, Investment Fund