Form 4: Mario Gabelli Sells GGT Shares, Faces Disgorgement

Mario J. Gabelli, a director and control person of Gabelli Multimedia Trust Inc., reported sales of GGT common stock totaling 4,000 shares, with disgorgement to be paid to the issuer.

Summary

• Mario J. Gabelli, a Director, 10% Owner, and Control Person of Adviser for Gabelli Multimedia Trust Inc. (GGT), reported two transactions involving the sale of GGT common stock.
• On December 9, 2025, 2,000 shares of GGT Common Stock were sold at a price of $4.1817 per share.
• On December 10, 2025, an additional 2,000 shares of GGT Common Stock were sold at a price of $4.18 per share.
• These sales were conducted indirectly through GGCP, Inc., an entity where Mr. Gabelli is the Chief Executive Officer, a director, and the controlling shareholder.
• Following these transactions, the indirect beneficial ownership through GGCP, Inc. decreased to 1,156,396 shares.
• Disgorgement will be paid to the Issuer for these sales by the seller, pursuant to Section 16, reflecting the sale price and Mr. Gabelli's pecuniary interest in the selling entity.
• Mr. Gabelli's total direct beneficial ownership is 1,020,654 shares, and his indirect beneficial ownership through other entities includes 31,000 shares via GAMCO Investors, Inc., 432,582 shares via Associated Capital Group, Inc., 2,918 shares via Gabelli & Company Investment Advisers, Inc., and 33,500 shares via GPJ Retirement Partners.

Sentiment

Score: 3

Explanation: The requirement for disgorgement indicates a past compliance issue for the reporting person, Mario J. Gabelli, under Section 16. While the company (GGT) benefits from receiving the disgorged funds, the underlying event reflects a regulatory misstep by a key insider.

Positives

• The Issuer, Gabelli Multimedia Trust Inc. (GGT), will receive disgorgement funds from the seller, which benefits the company and its shareholders.

Negatives

• The requirement for disgorgement indicates a past compliance issue for the reporting person, Mario J. Gabelli, likely related to short-swing profits under Section 16(b) of the Securities Exchange Act of 1934.

Risks

• The disgorgement implies a past regulatory non-compliance event for the reporting person, which could carry reputational implications for Mario J. Gabelli and the entities he controls.

Future Outlook

NA

Industry Context

NA

Legal Proceedings

• The disgorgement requirement implies a past violation of Section 16(b) of the Securities Exchange Act of 1934, which typically involves a legal or regulatory process to enforce the return of short-swing profits.

Related Party Transactions

• The reported sales were made indirectly through GGCP, Inc., an entity controlled by Mario J. Gabelli, making these related-party transactions.

Stakeholder Impact

• Shareholders of Gabelli Multimedia Trust Inc. (GGT) are positively impacted as the company will receive funds from the disgorgement.
• Mario J. Gabelli, the reporting person, faces a financial penalty through disgorgement and potential reputational implications due to the Section 16 violation.

Key Dates

Keywords

Gabelli Multimedia Trust, GGT, Mario Gabelli, Insider Trading, Form 4, SEC Filing, Stock Sale, Disgorgement, Section 16, Beneficial Ownership