Form 4: GDL Fund Director Michael J. Melarkey Reports Redemption of Series C Preferred Shares

Director Michael J. Melarkey reports the redemption of all remaining outstanding Series C Cumulative Puttable and Callable Preferred Shares of GDL Fund on March 26, 2025.

Summary

• Michael J. Melarkey, a director of GDL Fund, reported the redemption of 3,038 Series C Cumulative Puttable and Callable Preferred Shares.
• The transaction occurred on March 26, 2025.
• The shares were redeemed at a price of $50 each.
• Following the transaction, Melarkey owns 0 of these shares.

Sentiment

Score: 5

Explanation: The document reports a standard transaction (redemption of preferred shares). It is neither particularly positive nor negative.

Industry Context

This announcement reflects a corporate action by GDL Fund to redeem its outstanding Series C preferred shares, which is a fairly common event in the investment fund industry. It simplifies the capital structure of the fund.

Stakeholder Impact

• Shareholders who held Series C preferred shares received $50 per share.

Key Dates

Keywords

GDL Fund, Michael J. Melarkey, Series C Cumulative Puttable and Callable Preferred Shares, Redemption, Director, Form 4, SEC