LGL GROUP INC — Director's Dealing 2020

Nov 18, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LGL GROUP INC (LGL)
CIK: 0000061004
Period of Report: 2020-11-16

Reporting Person: GABELLI MARIO J (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-11-16	Common Stock Warrants (right to purchase)	$12.5	J	500675	Acquired	2025-11-16	Common Stock, par value$0.01 pe rshare (100135)	Direct
2020-11-16	Common Stock Warrants (right to purchase)	$12.5	J	476937	Acquired	2025-11-16	Common Stock, par value$0.01 per share (95387)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	500675	Direct
Common Stock	476937	Indirect

Footnotes

F1: These shares are owned by GGCP, Inc. ("GGCP"). Mr. Gabelli is deemed the beneficial owner of the shares owned by GGCP since he is the Chief Executive Officer, a director and the controllingshareholder of GGCP. Mr. Gabelli has less than a 100% interest in GGCP and disclaims beneficial ownership of the shares held by GGCP in excess of his pecuniary interest.

F2: On November 16, 2020, holders of the Issuer's Common Stock, par value $0.01 per share (the "Common Stock"), received a dividend of one Common Stock Warrant (the "Warrants") for each share of Common Stock held by such holder as of November 9, 2020. When exercisable, 5 Warrants will entitle their holder to purchase one share of Common Stock at an exercise price of $12.50 per share, as may be adjusted in accordance with the terms of the Warrants.

F3: The Warrants become exercisable on the earlier of (i) November 16, 2025, and (ii) such date that the 30-day volume weighted average price per share, or VWAP, of the Common Stock is greater than or equal to $17.50. Any unexercised Warrants will expire at 5:00 p.m., Eastern Time, on November 16, 2025.