Kinchen C. Bizzell
About Kinchen C. Bizzell
Kinchen C. Bizzell (born 1954) is an Independent Trustee of Ellsworth Growth and Income Fund Ltd. (ECF), serving on the Board since 2008. He is a Managing Director at Drexel Hamilton and previously held senior roles in securities brokerage and investor relations. He is a CFA charterholder, a member of the New York State Bar, and holds multiple FINRA principal and research licenses; he earned a BA from North Carolina State University and a JD from Duke University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Burson-Marsteller | Investor Relations Managing Director; later Senior Counselor | 1998–2013 (MD); after 2013 (Senior Counselor) | Advised on earnings warnings/restatements, M&A, bankruptcies |
| CAVU Securities | Managing Director; Compliance Officer; Investment Banker (Financial Institutions Group) | 2013–2016 | Institutional broker-dealer leadership and compliance |
| Mendes & Mount (law firm) | Partner | Not disclosed | Counsel to Lloyd’s of London and British insurers |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Drexel Hamilton | Managing Director | Current (dates not disclosed) | Securities broker-dealer |
| Private Investor | Private Investor | 2017–2020 | — |
| New York State Bar | Member | Not disclosed | Admitted attorney in NY |
| FINRA Licenses | Series 86, 87, 27, 24, 53, 4 | Current | Research Analyst and multiple Principal registrations |
Board Governance
- Independence: Classified as an Independent Trustee (not an “interested person”) under the Investment Company Act; no disclosed interests in the Adviser or affiliates for independent trustees, with specified exceptions not including Bizzell .
- Tenure/class: Trustee since 2008; currently in class serving until the 2026 Annual Meeting .
- Committee assignments: Member, Audit Committee; Audit Committee met two times in fiscal year ended September 30, 2024; Daniel D. Harding (Chair), members Bizzell and Elizabeth C. Bogan; Bizzell is signatory to the Audit Committee report .
- Attendance: Trustees met four times in FY2024; each Trustee attended at least 75% of Board meetings and committee meetings of which they were members .
- Board leadership: Chairman is Mario J. Gabelli (Interested Trustee); Lead Independent Trustee is James P. Conn; independent trustees meet in executive session; committees chaired by independent trustees .
- Annual meeting engagement: The Fund does not expect Trustees to attend the shareholder meeting; none attended the May 13, 2024 annual meeting .
Fixed Compensation
| Component | Amount/Terms | FY2024 Paid to Bizzell |
|---|---|---|
| Annual retainer (Independent Trustee) | $8,500 | — |
| Board meeting fee | $1,000 per meeting | — |
| Committee meeting fee | $500 per meeting | — |
| Audit Committee Chair fee | $2,000 annually | N/A (member, not chair) |
| Nominating Committee Chair fee | $2,000 annually | N/A |
| Lead Independent Trustee fee | $1,000 annually | N/A |
| Aggregate compensation from ECF (FY2024) | — | $13,500 |
| Aggregate compensation, Fund Complex (CY2024) | — | $27,000 (from 2 funds/portfolios) |
Performance Compensation
| Component | Terms | Notes |
|---|---|---|
| Annual bonus | Not disclosed for directors | No director bonus disclosed; compensation is cash retainers/meeting fees |
| Stock awards (RSUs/PSUs) | Not disclosed for directors | No equity director grants disclosed |
| Option awards | Not disclosed for directors | No options disclosed for directors |
| Performance metrics (TSR, EBITDA, ESG) | Not applicable | No performance-linked director pay disclosed |
| Change-in-control provisions | Not disclosed for directors | — |
| Clawback provisions | Not disclosed for directors | — |
| Deferred compensation/pensions/SERP | Not disclosed for directors | — |
| Perquisites | Not disclosed for directors | — |
Other Directorships & Interlocks
| Company | Role | Committees |
|---|---|---|
| None disclosed (outside ECF/fund complex) | — | — |
Expertise & Qualifications
- CFA charterholder; extensive IR, compliance, and broker-dealer leadership experience .
- Licensed Research Analyst (Series 86/87) and multiple Principal registrations (Series 27/24/53/4), indicating financial and regulatory expertise relevant to audit oversight .
- JD (Duke) and BA (North Carolina State), plus legal practice background as law firm partner advising global insurers .
Equity Ownership
| Holding | Amount | Percent of Class | Valuation Range |
|---|---|---|---|
| Common Shares (ECF) | 12,481 | <1% | Dollar range in Fund: E (Over $100,000) |
| Aggregate Dollar Range in Fund Complex | — | — | E (Over $100,000) |
| Section 16 compliance (FY2024) | — | — | Fund believes all insiders complied; no delinquent filings |
Governance Assessment
- Strengths: Independent status; Audit Committee membership with demonstrated involvement (co-signatory of Audit Committee report); robust financial/regulatory credentials (CFA, FINRA principal and research licenses); meaningful share ownership (12,481 common shares) supporting alignment .
- Compensation alignment: Modest, cash-only director pay (retainers and meeting fees) without equity or performance-based awards, limiting pay-for-performance concerns at the board level .
- Conflicts/related-party exposure: No disclosed interests in Adviser/affiliates for independent trustees beyond specified exceptions (which do not include Bizzell); not listed among independent trustees with interests in entities under common control with Adviser .
- Engagement watchpoint: Trustees are not expected to attend shareholder meetings, and none attended the 2024 annual meeting—potentially a signal of lower direct shareholder engagement despite satisfactory Board/committee attendance thresholds .
RED FLAGS
- No trustee attendance at the 2024 annual meeting; directors not expected to attend 2025 meeting, which may be viewed negatively by some governance-focused investors .