Subsequent Events

12 Months Ended

Dec. 31, 2015

Subsequent Events [Abstract]

Subsequent Events

S. Subsequent Events

On December 21, 2015, GAMCO entered into a deferred compensation agreement with Mr. Gabelli whereby his variable compensation for 2016 will be in the form of Restricted Stock Units (“RSUs”) determined by the volume-weighted average price of the Company’s Class A Stock during 2016.  As a result, in 2016, Mr. Gabelli will not be paid any cash compensation that he is entitled to under the Employment Agreement approved by shareholders on May 5, 2015, and consistent with Mr. Gabelli’s agreement since 1977.  While the issuance of the award itself will not change Mr. Gabelli’s compensation, the GAAP reporting for his compensation will change.  The RSUs will vest 100% on January 1, 2020, and the Company intends to settle the award in cash at that time; however, the Company reserves the right to issue shares of the Company’s Class A Stock in lieu of such cash payment.  For GAAP reporting, the Company will recognize the amount of Mr. Gabelli’s 2016 compensation ratably over the vesting period, or approximately 25% of the total during each of 2016, 2017, 2018 and 2019 fiscal years.

On February 18, 2016, the Board of Directors declared a regular quarterly dividend of $0.02 per share to all of its shareholders, payable on March 29, 2016 to shareholders of record on March 15, 2016.

From January 1, 2016 to March 15, 2016, the Company repurchased 30,103 shares at $29.33 per share. As a result, there are 552,052 shares available to be repurchased under our existing buyback plan at March 15, 2016.