David I. Schachter
About David I. Schachter
David I. Schachter is Vice President of The Gabelli Equity Trust Inc. (GAB) and has served since 2013; he is also Senior Vice President of G.research, LLC since 2015. He was born in 1953 and is listed as “Vice President and/or Ombudsman of closed-end funds within the Gabelli Fund Complex” across fund filings . Fund performance over his tenure includes NAV total return of 41.9% in 2013 (share-price total return 52.4%), -6.9% in 2015 (share-price total return -8.5%), and 18.4% in 1H 2019 (share-price total return 27.5%) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The Gabelli Equity Trust Inc. | Vice President | Since 2013 | Vice President and/or Ombudsman of closed-end funds within the Gabelli Fund Complex |
| G.research, LLC | Senior Vice President | Since 2015 | Senior leadership at affiliated research entity |
| Gabelli Funds/G.research | Vice President | 1999–2015 | Vice President at the adviser/research affiliate prior to SVP (disclosed as VP since 1999) |
External Roles
None disclosed in GAB’s proxy or shareholder reports for Schachter beyond roles within Gabelli Funds/G.research .
Fixed Compensation
- Officers of the Fund are generally compensated by the Adviser (Gabelli Funds, LLC). The Fund’s DEF 14A provides director compensation and identifies any officers paid directly by the Fund; for FY 2024, only the Vice President/Ombudsman (Molly A.F. Marion) is shown with $80,406, and no compensation is disclosed for David I. Schachter .
- Director fee framework (for governance context): annual retainer $15,000, $2,000 per Board meeting, committee fees, and chair premia; aggregate director remuneration was $220,000 in FY 2024 .
Performance Compensation
No disclosure of bonus targets, RSUs/PSUs, stock options, or performance-metric weighting for Fund officers, including David I. Schachter, in GAB’s DEF 14A or recent shareholder reports. Compensation tables cover directors; there are no reported equity or incentive awards for officers of the Fund .
Equity Ownership & Alignment
- Beneficial ownership tables list directors and certain executive officers (President, Secretary, CCO). David I. Schachter is not included among the executive officers enumerated in the beneficial ownership table; therefore, no share counts or percentages are reported for him in the Fund’s filings .
- No disclosure of pledged shares, hedging, or stock ownership guidelines applicable to Fund officers in recent DEF 14A filings .
Employment Terms
- Officers “hold office for an indefinite term until the date he or she resigns or retires or until his or her successor is duly elected and qualified” .
- No employment agreements, severance multiples, change-of-control triggers, accelerated vesting, non-compete/non-solicit, garden leave, or clawback provisions are disclosed for David I. Schachter in the Fund’s proxy or recent reports .
Fund Performance (Selected Periods During Schachter’s Tenure)
| Metric | FY 2013 | FY 2015 | 1H 2019 |
|---|---|---|---|
| NAV Total Return (%) | 41.9% | -6.9% | 18.4% |
| Share-Price Total Return (%) | 52.4% | -8.5% | 27.5% |
Investment Implications
- Limited disclosure on officer pay and equity leaves little visibility into Schachter’s personal pay-for-performance alignment; governance and fee structures are disclosed for directors, not officers .
- Long tenure and continuing service across the Gabelli closed-end fund complex and G.research suggest low near-term retention risk; however, absence of reported equity ownership or vesting schedules reduces insight into insider selling pressure or alignment with common shareholders .
- Fund performance across Schachter’s service period shows cyclicality typical of an actively managed equity closed-end fund; trend tracking should rely on ongoing NAV/share-price total returns rather than officer-related trading signals, which are not disclosed for him .