SCHEDULE 13D/A: Gebbia Family Amends Siebert Financial Ownership Disclosure Following Share Gifts
Amendment to Schedule 13D
The Gebbia family, including Director Gloria E. Gebbia, has filed an Amendment No. 25 to their Schedule 13D, updating their beneficial ownership in Siebert Financial Corp. following inter-family share gifts.
Summary
- This filing is Amendment No. 25 to the Schedule 13D for Siebert Financial Corp., updating previous amendments.
- The primary purpose of this amendment is to report the gift of shares of Siebert Financial Corp. common stock from Gloria E. Gebbia to certain family members.
- As of November 12, 2024, Siebert Financial Corp. had 40,120,936 shares of Common Stock outstanding.
- The Gebbia family group, consisting of Gloria E. Gebbia, John M. Gebbia, Richard Gebbia, David Gebbia, and Kimberly Gebbia, collectively beneficially owns 16,959,323 shares of Common Stock.
- This aggregate ownership represents approximately 42% of the outstanding Common Stock of Siebert Financial Corp.
- Gloria E. Gebbia directly beneficially owns 9,715,714 shares, representing approximately 24% of outstanding Common Stock.
- John M. Gebbia directly beneficially owns 2,024,891 shares (approx. 5%) and may share indirect beneficial ownership of 190,000 additional shares.
- Richard Gebbia directly beneficially owns 588,535 shares (approx. 2%) and may share indirect beneficial ownership of 261,273 additional shares and 2,589,592 shares owned by Kimberly Gebbia.
- David Gebbia directly beneficially owns 1,515,318 shares (approx. 4%) and may share indirect beneficial ownership of 74,000 additional shares.
- Kimberly Gebbia directly beneficially owns 2,589,592 shares (approx. 7%) and may share indirect beneficial ownership of 261,273 additional shares and 588,535 shares owned by Richard Gebbia.
- The Reporting Persons disclaim beneficial ownership of shares held by other group members except to the extent of their pecuniary interest.
Sentiment
Score: 5
Explanation: The document is a factual report of changes in beneficial ownership due to inter-family share gifts, providing neutral information without positive or negative implications for company performance or strategy.
Future Outlook
NA
Industry Context
This filing pertains to a change in beneficial ownership within a specific family group for Siebert Financial Corp., a financial services company. It does not provide broader industry trends or competitive analysis.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Reference to existing agreement | The filing references the Amended and Restated Joint Filing and Group Agreement, which was amended on January 10, 2022, governing the relationship and voting of shares among the reporting persons. | 2022-01-10 | This agreement formalizes the coordinated ownership and voting power of the Gebbia family group, reinforcing their collective influence over Siebert Financial Corp. |
Related Party Transactions
- Gloria E. Gebbia gifted shares of Siebert Financial Corp. common stock to certain family members (John M. Gebbia, Richard Gebbia, David Gebbia, Kimberly Gebbia), which is the primary transaction reported in this amendment.
Stakeholder Impact
- Shareholders: The filing clarifies the concentrated ownership structure of Siebert Financial Corp., with the Gebbia family group maintaining a significant 42% stake, which could influence corporate decisions and control.
Key Dates
| Date | Description |
|---|---|
| 2016-12-21 | Original Schedule 13D filing date. |
| 2018-04-25 | Amended and Restated Schedule 13D filing date (Amendment 4). |
| 2022-01-10 | Date of amendment to the Amended and Restated Joint Filing and Group Agreement. |
| 2024-11-12 | Date as of which 40,120,936 shares of Common Stock were outstanding. |
| 2024-12-09 | Date of event (gift of shares) which required the filing of this statement. |
| 2025-03-05 | Filing date of this Amendment No. 25 to Schedule 13D. |
Keywords
Siebert Financial Corp, Schedule 13D, Beneficial Ownership, SEC Filing, Common Stock, Shareholder Group, Corporate Governance, Investment, Financial Services
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