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Stock Market & Financial Investment News

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November 12, 2012
16:32 EDTGBLGAMCO Investors accelerates outstanding restricted stock awards
GAMCO Investors announced that its Board of Directors has accelerated the lapse of restrictions on all outstanding restricted stock awards effective on November 13. There are 369,100 RSAs outstanding. GAMCO will incur a fourth quarter non-cash charge of $10.1M or 22c per diluted share (after management fee and tax benefit) as a result of the acceleration. GAMCO had previously recorded non-cash charges of $2.6M or 6c per diluted share during the first three quarters of 2012 bringing the full amount expensed in 2012 to $12.7M or 28c per diluted share. The comparable financial results in 2013 will benefit from the absence of this stock compensation expense.
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