GAMCO INVESTORS, INC. (NYSE:GBL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k

7 years ago

GAMCO INVESTORS, INC. (NYSE:GBL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.

OnSeptember 30, 2017, GAMCOInvestors, Inc. ("GAMCO")announced that the Compensation Committee of the Board of Directors has unanimously approved a deferred compensation agreement with Mario J. Gabelli, Chief Executive Officer of GAMCO. Mr. Gabelli’s variable compensation for the period from October 1, 2017 throughDecember 30, 2017 will be in the form of Restricted Stock Units (“RSUs”) determined by the volume-weighted average price of the Company’s Class A stock during such period. As a result, for thefourth quarterof 2017, Mr. Gabelli will not be paid any cash compensation that he is entitled to under the Employment Agreement approved by shareholders on May 5, 2015, and consistent with Mr. Gabelli’s agreement since 1977. The Board decided that deferring Mr. Gabelli’s variable compensation for the fourth quarter of 2017 will provide the Company with greater financial flexibility.

The information furnished under Item 5.02, including the exhibit attached hereto, is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 and shall not be incorporated by reference into any registration statement or other document to the Securities Act of 1933, except as otherwise expressly stated in such filing.

Item 5.02

Financial Statements and Exhibits.

(d) Exhibits

99.1Restricted Stock Unit Agreement, dated September 30, 2017.

GAMCO INVESTORS, INC. ET AL ExhibitEX-99.1 2 ex991093017.htm EXHIBIT 99.1,…To view the full exhibit click here
About GAMCO INVESTORS, INC. (NYSE:GBL)
GAMCO Investors, Inc. (GBL) is a holding company. Through its subsidiaries, the Company provides investment advisory services to open and closed-end funds, institutional and private wealth management (PWM) investors in the United States. The Company operates in the segment of investment advisory and asset management business. The Company manages assets and invests in the United States and international securities through various investment styles. GAMCO Asset Management Inc. (Institutional and Private Wealth Management) and Gabelli Funds, LLC (Funds) are registered investment advisers. G.distributors, LLC (G.distributors) acts as an underwriter and distributor of its open-end funds. Its assets under management (AUM) are organized into three groups: Institutional and Private Wealth Management; Open and Closed-End Funds, and SICAV. The Company provides advisory services to a fund under the GAMCO brand, the GAMCO International SICAV (the SICAV).