Mario Gabelli shifts 240,365 Gabelli Equity Trust (NYSE: GAB) shares

Rhea-AI Filing Summary

Gabelli Equity Trust director Mario J. Gabelli reported restructuring transactions involving 240,365 common shares of GABELLI EQUITY TRUST INC. The filing shows these shares were acquired through the exercise of common stock purchase rights.

Of the reported amount, 84,168 shares are held indirectly through GGCP, Inc., where Gabelli is CEO, director, and controlling shareholder, and 156,197 shares are held directly. After these transactions, indirect holdings total 925,844 shares and direct holdings total 1,718,169 shares, with Gabelli disclaiming beneficial ownership of GGCP shares beyond his indirect pecuniary interest.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider GABELLI MARIO J

Role null

Type	Security	Shares	Price	Value
Other	Common Stock, Par Value $0.001	156,197	$5.00	$781K
Other	Common Stock, Par Value $0.001	84,168	$5.00	$421K

Holdings After Transaction: Common Stock, Par Value $0.001 — 1,718,169 shares (Direct, null); Common Stock, Par Value $0.001 — 925,844 shares (Indirect, GGCP, Inc.)

Footnotes (1)

1. The reporting person acquired these common shares through the exercise of common stock purchase rights. The shares reported reflect the total shares owned by GGCP, Inc. (GGCP). Mario J. Gabelli is the Chief Executive Officer, a director, and the controlling shareholder of GGCP. Mr. Gabelli has less than a 100% interest in GGCP and disclaims beneficial ownership of the shares held by it which are in excess of his indirect pecuniary interest.

Key Figures

Restructuring shares: 240,365 shares Indirect transaction size: 84,168 shares Direct transaction size: 156,197 shares +3 more

6 metrics

Restructuring shares 240,365 shares Total J-code restructuring transactions via stock purchase rights

Indirect transaction size 84,168 shares Common shares tied to GGCP, Inc. restructuring entry

Direct transaction size 156,197 shares Common shares in direct restructuring entry

Indirect holdings after 925,844 shares Common shares held indirectly via GGCP, Inc. after transaction

Direct holdings after 1,718,169 shares Common shares held directly by Mario J. Gabelli after transaction

Implied price per share $5.00 per share Price shown for both restructuring entries

Key Terms

common stock purchase rights, beneficial ownership, indirect pecuniary interest, other acquisition or disposition, +1 more

5 terms

common stock purchase rights financial

"acquired these common shares through the exercise of common stock purchase rights"

beneficial ownership financial

"disclaims beneficial ownership of the shares held by it"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

indirect pecuniary interest financial

"in excess of his indirect pecuniary interest"

other acquisition or disposition financial

"transaction_code_description: "Other acquisition or disposition""

indirect ownership financial

"ownership_type: "indirect" with nature_of_ownership "GGCP, Inc.""

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

GABELLI MARIO J

(Last) (First) (Middle)

C/O GAMCO INVESTORS, INC.

ONE CORPORATE CENTER

(Street)

RYE NEW YORK 10580

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
GABELLI EQUITY TRUST INC [ GAB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Control Person of Adviser

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/28/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, Par Value $0.001	04/28/2026		J(1)		156,197	A	$5	1,718,169	D
Common Stock, Par Value $0.001	04/28/2026		J(1)		84,168	A	$5	925,844	I	GGCP, Inc.(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reporting person acquired these common shares through the exercise of common stock purchase rights.

2. The shares reported reflect the total shares owned by GGCP, Inc. (GGCP). Mario J. Gabelli is the Chief Executive Officer, a director, and the controlling shareholder of GGCP. Mr. Gabelli has less than a 100% interest in GGCP and disclaims beneficial ownership of the shares held by it which are in excess of his indirect pecuniary interest.

	Douglas R. Jamieson as Attorney-in-Fact for Mario J. Gabelli	04/29/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Mario J. Gabelli report for GABELLI EQUITY TRUST (GAB)?

Mario J. Gabelli reported restructuring transactions involving 240,365 GABELLI EQUITY TRUST common shares. These shares were obtained through exercising common stock purchase rights and are split between indirect holdings via GGCP, Inc. and direct ownership, as detailed in the Form 4 filing.

How many GAB shares did Mario Gabelli acquire through rights exercise?

The filing shows 240,365 GABELLI EQUITY TRUST common shares tied to the exercise of common stock purchase rights. These are reported as two J-code transactions, reflecting an internal restructuring rather than a standard open-market buy or sell transaction.

How many GAB shares does Mario Gabelli hold directly after this Form 4?

After the reported transactions, Mario J. Gabelli holds 1,718,169 GABELLI EQUITY TRUST common shares directly. This total reflects the impact of the J-code restructuring entry that added 156,197 shares through the exercise of common stock purchase rights.

What are GGCP, Inc.’s GAB holdings associated with Mario Gabelli?

The Form 4 reports 925,844 GABELLI EQUITY TRUST common shares held indirectly through GGCP, Inc. Mario J. Gabelli is GGCP’s CEO, director, and controlling shareholder but disclaims beneficial ownership of GGCP shares exceeding his indirect pecuniary interest in that entity.

Were Mario Gabelli’s GAB transactions classified as buys or sells?

No, the transactions were coded “J” as other acquisition or disposition events. The filing describes them as arising from the exercise of common stock purchase rights, categorized as restructuring activity rather than conventional open-market purchases or sales of GABELLI EQUITY TRUST shares.

How is Mario Gabelli’s indirect ownership in GAB characterized in the filing?

Indirect ownership arises through GGCP, Inc., which holds GABELLI EQUITY TRUST shares. The filing notes Gabelli is GGCP’s CEO, director, and controlling shareholder, but he disclaims beneficial ownership of GGCP-held shares beyond his indirect pecuniary interest as described in the footnote disclosure.