General American Investors Form 4: CEO Disposes Common and Preferred Stock

Rhea-AI Filing Summary

Jeffrey W. Priest, President & CEO and director of General American Investors Company, Inc. (GAM), reported Form 4 transactions dated 08/28/2025. The filing shows a disposition of 48,973 shares of Common Stock at $59.95 (noted as a financial settlement), leaving 45,611 shares held directly after the transaction. The report also records indirect Common Stock positions: 34,592 shares held by parent, 78,756 shares by power of attorney, and 44,167 shares via the Employees' Thrift Plan Trust (the reporting person disclaims beneficial interest in some indirect holdings). For the 5.95% Preferred Stock, the filing shows a disposition of 7,696 shares at $25.08, with 10,572 shares held directly after the sale and additional indirect preferred positions reported. The signature date is 08/29/2025.

Positive

• Timely and specific disclosure of insider transactions complying with Section 16 reporting
• Clear disclaimers of beneficial interest for shares held via parent and thrift plan, improving transparency

Negative

• Significant dispositions by the CEO of 48,973 common shares and 7,696 preferred shares on 08/28/2025
• No purchases reported to offset the sales, reducing the reporting person's direct holdings

Insights

Securities Analyst

TL;DR: Insider sale of both common and preferred shares, disclosed under Form 4, indicates liquidity activity but no new holdings disclosed.

The filing documents routine dispositions by the CEO on 08/28/2025: 48,973 common shares sold at $59.95 and 7,696 preferred shares sold at $25.08, both described as financial settlement transactions. Post-transaction direct common and preferred holdings are reported. Multiple indirect holdings are disclosed, including shares held by parent, power of attorney and the Employees' Thrift Plan Trust, with disclaimers of beneficial interest where indicated. The disclosure is specific and complies with Section 16 reporting requirements; it does not include any derivative transactions.

Corporate Governance Expert

TL;DR: CEO and director reported significant share dispositions; disclosure is clear but raises standard insider activity questions for investors.

The Form 4 shows Jeffrey W. Priest, an officer and director, executing financial settlement sales of both common and preferred shares on 08/28/2025, with the Form signed on 08/29/2025. The report lists direct and several indirect ownership records and includes explicit disclaimers regarding beneficial interest in certain indirect holdings. All transactions are categorized under transaction code J(3) indicating settlement. The filing is technically complete for the reported events and does not show any options or other derivative activity.

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

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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)
08/28/2025

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	08/28/2025		J(3)		48,973	D	$59.95	45,611	D
Common Stock								34,592	I(1)	By Parent
Common Stock								78,756	I(1)	By Power of Attorney
Common Stock								44,167	I(2)	By Thrift Plan Trust
5.95% Preferred Stock	08/28/2025		J(3)		7,696	D	$25.08	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. Financial Settlement.

	/s/Jeffrey W. Priest	08/29/2025
	** 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).
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FAQ

What transactions did Jeffrey W. Priest report on Form 4 for GAM?

He reported dispositions on 08/28/2025 of 48,973 common shares at $59.95 and 7,696 shares of 5.95% preferred stock at $25.08.

What was Mr. Priest's role at the issuer in the Form 4 filing?

He is listed as President & CEO and a Director of General American Investors Company, Inc.

How many common shares did Mr. Priest hold directly after the reported sale?

45,611 common shares are reported as directly held following the transaction.

Are there indirect holdings reported by Mr. Priest in the Form 4?

Yes. The filing lists indirect common holdings of 34,592 (by parent), 78,756 (by power of attorney), and 44,167 (by Employees' Thrift Plan Trust), with disclaimers of beneficial interest where noted.

What does transaction code J(3) mean in this Form 4?

The filing states J(3) corresponds to 'Financial Settlement' as explained in the form's explanation section.