[Form 4] GENERAL AMERICAN INVESTORS CO INC Insider Trading Activity

Rhea-AI Filing Summary

General American Investors Co., Inc. reporting person Jeffrey W. Priest (President & CEO) filed a Form 4 disclosing insider transactions. On 10/03/2025 Mr. Priest sold 22,696 common shares at a reported price of $62.84 per share through the issuer's Employees' Thrift Plan Trust (financial settlement). The filing also shows prior periodic acquisitions into the Thrift Plan (1,225 shares acquired as of 04/30/2025) and disposals including 10,572 shares of the issuer's 5.95% preferred stock. Mr. Priest disclaims beneficial ownership of certain shares held by the plan and by the parent entity while retaining indirect holdings reported on the form.

Positive

• None.

Negative

• 22,696 common shares sold at $62.84 on 10/03/2025
• 10,572 shares of 5.95% preferred stock disposed (date reported on form)
• Net reduction in directly reported common holdings shown on this Form 4

Insights

Corporate Governance Analyst

Insider sale of 22,696 common shares at $62.84 signals routine plan activity, not necessarily a change in control.

The filing shows the sale occurred via the Employees' Thrift Plan Trust on 10/03/2025 with a reported settlement price of $62.84. The reporting person retains indirect holdings across parent and power-of-attorney designations and disclaims beneficial ownership for plan-held shares, which is customary for employer-sponsored plans.

Key dependencies include the plan's periodic trading mechanics and the reporting person’s continued indirect holdings; monitor subsequent Forms 4 for a pattern of sales within 30–90 days to assess whether activity exceeds routine plan behavior.

Insider Transactions Specialist

The report combines a recent open-market sale with earlier thrift-plan purchases and preferred-stock disposals.

The Form 4 records a 22,696-share disposal of common stock and a 10,572-share disposal of 5.95% preferred stock, alongside a prior thrift-plan acquisition of 1,225 shares on 04/30/2025. The disclosure notes financial settlement and plan-based periodic purchases, which explains mixed buy/sell entries.

Watch for follow-ups showing either additional plan purchases or open-market sales; these will clarify whether the net position is stabilizing or declining over the next reporting windows.

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^*

Priest Jeffrey W

(Last) (First) (Middle)

GENERAL AMERICAN INVESTORS COMPANY, INC.

530 FIFTH AVE - 26TH FLOOR

(Street)

NEW YORK NY 10036

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GENERAL AMERICAN INVESTORS CO INC [ GAM ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
10/03/2025

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

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

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

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								45,611	D
Common Stock								34,592	I(1)	By Parent
Common Stock								78,756	I(1)	By Power of Attorney
Common Stock	04/30/2025		J(3)		1,225	A	(3)	45,392	I(2)	By Thrift Plan Trust
Common Stock	10/03/2025		J(4)		22,696	D	$62.84	22,696	I(2)	By Thrift Plan Trust
5.95% Preferred Stock								10,572	D
5.95% Preferred Stock								7,739	I(1)	By Parent
5.95% Preferred Stock								19,502	I(1)	By Power of Attorney

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. Mr. Priest has dispositive power but disclaims any beneficial interest in these shares.

2. By Issuer's Employees' Thrift Plan Trust. The undersigned disclaims any beneficial interest in these shares.

3. The securities reported herein were acquired on a periodic basis in open market transactions at the prevailing market price pursuant to the Issuer's Employees' Thrift Plan. This information is based upon a statement as of 4/30/2025 issued by the Plan Administrator.

4. Financial Settlement.

	/s/Jeffrey W. Priest	10/07/2025
	** 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.

FAQ

What did GAM insider Jeffrey W. Priest report on the Form 4?

The filing shows Mr. Priest sold 22,696 common shares at $62.84 on 10/03/2025 and disposed of 10,572 shares of 5.95% preferred stock; prior thrift-plan purchases of 1,225 common shares were reported as of 04/30/2025.

Was the 10/03/2025 transaction executed through a plan or open market?

The sale of 22,696 common shares is reported as by the Issuer's Employees' Thrift Plan Trust with financial settlement indicated in the form.

Does Mr. Priest retain beneficial ownership after these transactions?

The Form 4 indicates Mr. Priest disclaims beneficial interest in certain shares held by the plan and parent, while still showing indirect holdings reported under parent and power-of-attorney designations.

Are there any acquisitions reported on this Form 4?

Yes; the filing records an acquisition of 1,225 common shares on 04/30/2025 through periodic thrift-plan purchases at prevailing market prices.

How can investors monitor further insider activity for GAM?

Look for subsequent Form 4 filings referencing additional thrift-plan trades or open-market transactions to determine if recent disposals represent a pattern.