[Form 4] Gabelli Global Small & Mid Cap Value Trust Insider Trading Activity

Rhea-AI Filing Summary

Kevin V. Dreyer, a director at GAMCO Investors reporting for Gabelli Global Small & Mid Cap Value Trust (GGZ), reported the mandatory redemption of Series B Cumulative Preferred Shares. On 09/26/2025 Mr. Dreyer disposed of 1,800 Series B preferred shares at a redemption price of $10 per share, and the filing shows 0 shares beneficially owned following the transaction. The Form 4 indicates the redemption was required under the mandatory redemption of the outstanding Series B shares and is signed by Kevin V. Dreyer on 09/29/2025.

Positive

• None.

Negative

• Reporting person disposed of 1,800 Series B Cumulative Preferred Shares, reducing beneficial ownership to 0 shares following redemption

Insights

Financial Analyst

TL;DR Insider reported a mandatory redemption of 1,800 Series B preferred shares, leaving no beneficial ownership.

The filing documents a non-voluntary exit from the Series B preferred position: 1,800 cumulative preferred shares were redeemed at $10 per share on 09/26/2025, reducing the reporting person’s beneficial holdings to zero. This is a mechanical capital return to holders rather than an open-market sale, so it does not signal a typical liquidity-driven insider disposition. The transaction affects preferred capital structure but contains no information on common equity holdings or broader corporate actions.

Corporate Governance Expert

TL;DR Director's Form 4 reflects compliance with mandatory redemption terms; no further governance actions disclosed.

The Form 4 shows the reporting person complied with the mandatory redemption of Series B Cumulative Preferred Shares. It is a disclosure of execution of contractually required redemption rather than a voluntary change in governance stake. The document does not report amendments, derivative positions, or ongoing agreements; it is confined to the single redemption event and the resulting zero beneficial ownership of that security class.

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
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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).

1. Name and Address of Reporting Person^*

Dreyer Kevin V.

(Last) (First) (Middle)

C/O GAMCO INVESTORS, INC.

ONE CORPORATE CENTER

(Street)

RYE NY 10580

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Gabelli Global Small & Mid Cap Value Trust [ GGZ.B ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/26/2025

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
Series B Cumulative Preferred Shares	09/26/2025		J(1)		1,800	D	$10	0	D

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 shares being reported were redeemed in accordance with the mandatory redemption of the outstanding Series B Cumulative Preferred Shares on September 26, 2025.

	Kevin V. Dreyer	09/29/2025
	** 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).
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 Kevin V. Dreyer report on Form 4 for GGZ?

The filing reports the mandatory redemption of 1,800 Series B Cumulative Preferred Shares on 09/26/2025, at a redemption price of $10 per share, leaving 0 shares owned.

Was the transaction a sale or a mandatory redemption for GGZ (Form 4)?

The Form 4 states the shares were redeemed in accordance with the mandatory redemption of outstanding Series B Cumulative Preferred Shares on 09/26/2025.

How many Series B preferred shares does the reporting person own after the reported transaction?

Following the reported transaction the reporting person beneficially owned 0 Series B Cumulative Preferred Shares.

What price was used for the redeemed Series B shares in the Form 4?

The reported redemption price per share was $10.

When was the Form 4 signed by Kevin V. Dreyer?

The signature block shows Kevin V. Dreyer signed the Form 4 on 09/29/2025.