Eileen Cheigh Nakamura
About Eileen Cheigh Nakamura
Eileen Cheigh Nakamura (born 1969) is an Independent Director of The Gabelli Equity Trust Inc. (GAB), appointed on February 13, 2025 and nominated to serve a three-year term ending at the 2028 annual meeting if elected; she brings 30+ years of finance and healthcare experience, most recently as Vice President / Business Assessment Lead at Pfizer, Inc. (2018–January 2025). She holds a BA from Wesleyan University and an MBA from The Wharton School, and is classified as “Independent” under the Investment Company Act; as of December 31, 2024, she beneficially owned 8,719 GAB common shares and had a dollar-range holding of $10,001–$50,000 in the Fund and “Over $100,000” across the Fund Complex .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Pfizer, Inc. | Vice President / Business Assessment Lead | 2018 – Jan 2025 | Senior management role assessing business opportunities; 30+ years finance/healthcare background cited |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Several non-profit boards (not specified) | Board member | Not disclosed | Names not listed; service noted in biography |
Board Governance
- Board composition: 11 Directors; eight Independent; Board divided into three classes with three-year terms .
- Nakamura appointment and nomination: Became Director on Feb 13, 2025; nominee to serve until 2028 annual meeting if elected .
- Independence: All Directors other than Mario J. Gabelli, Laura Linehan, and Agnes Mullady are Independent; Nakamura is Independent .
- Committees: Audit Committee members—Heitmann (Chair), Conn, Zizza; Nominating Committee members—Fahrenkopf (Chair), Zizza; ad hoc committees (Proxy Voting, Pricing) active across the complex. Nakamura is not listed as a committee member in the 2025 proxy .
- Lead Independent Director: James P. Conn; presides over executive sessions and serves as liaison .
- Attendance: In FY2024, the Board met four times; each Director then serving attended at least 75% of Board and applicable committee meetings (Nakamura was not yet on the Board in 2024). Audit Committee met twice; Nominating Committee met once .
- Annual meeting attendance policy: The Fund does not expect Directors/nominees to attend; none attended May 13, 2024 annual meeting .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual retainer (Independent and certain Interested Directors) | $15,000 | Paid by Fund |
| Board meeting fee | $2,000 per meeting | Paid per meeting attended |
| Committee member fee | $1,000 per meeting | Applies to all Board committee members |
| Audit Committee Chair fee | $3,000 annually | Heitmann is Chair |
| Proxy Voting Committee Chair fee | $1,500 annually | Chair noted in proxy body |
| Nominating Committee Chair fee | $2,000 annually | Fahrenkopf is Chair |
| Lead Independent Director fee | $2,000 annually | Conn is Lead Independent Director |
| Aggregate Director remuneration (FY2024) | $220,000 | Excludes out-of-pocket expenses |
| Nakamura aggregate compensation (FY2024) | $0 | Became Director Feb 13, 2025 |
Performance Compensation
- No equity (RSUs/PSUs), options, bonuses, or performance-based metrics for Directors are disclosed in the proxy; Director pay is cash-based via retainers and meeting/committee fees .
Other Directorships & Interlocks
| Company | Role | Dates | Notes |
|---|---|---|---|
| — | — | — | No other public company directorships disclosed for Nakamura in the past five years (excluding other Gabelli funds) |
Expertise & Qualifications
- Retired executive with 30+ years’ experience in finance and healthcare; senior management positions at Pfizer culminating as VP / Business Assessment Lead .
- Education: BA, Wesleyan University; MBA, Wharton Business School .
- Oversees four portfolios in the Fund Complex as a Director .
Equity Ownership
| Metric | Value |
|---|---|
| Beneficial ownership (GAB Common) | 8,719 shares; <1% of outstanding |
| Dollar range (GAB Fund) | $10,001 – $50,000 (“C”) |
| Aggregate dollar range (Fund Complex) | Over $100,000 (“E”) |
| Pledged shares | Not disclosed in proxy |
| Section 16 compliance | Fund states applicable persons complied in FY2024 filings |
Governance Assessment
- Independence and alignment: Nakamura is formally Independent; holds direct GAB shares and materially participates across the Fund Complex—positive alignment signal without disclosed pledging or related-party ties .
- Engagement and committees: As a newly appointed Director (Feb 2025), she is not assigned to standing committees in the proxy; monitoring future committee placements (Audit/Nominating) will be important for assessing board effectiveness .
- Compensation and incentives: Director pay is modest, cash-based, and meeting/committee linked; absence of equity/option grants reduces pay-for-performance concerns but also limits ownership-based incentives typically seen in operating companies (common for closed-end funds) .
- Potential conflicts and interlocks: No other public company boards or controlled affiliate interests disclosed for Nakamura; no related-party transactions identified—low conflict risk .
- Attendance signals: Board and committees exhibited regular cadence and adequate attendance in 2024; Nakamura’s tenure begins 2025, so forward observation is required .
RED FLAGS: None disclosed for Nakamura (no related-party transactions, legal proceedings, pledging, or tax gross-ups noted) .