Item 8.01. Other Events.
On November 12, 2012, GAMCO Investors, Inc. announced that its Board of
Directors has accelerated the lapse of restrictions on all outstanding
restricted stock awards ("RSAs") effective on November 13, 2012. There are
369,100 RSAs outstanding. GAMCO will incur a fourth quarter non-cash charge of
$10.1 million or $0.22 per diluted share (after management fee and tax benefit)
as a result of the acceleration. GAMCO had previously recorded non-cash charges
of $2.6 million or $0.06 per diluted share during the first three quarters of
2012 bringing the full amount expensed in 2012 to $12.7 million or $0.28 per
diluted share. The comparable financial results in 2013 will benefit from the
absence of this stock compensation expense.
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