Anang K. Majmudar
About Anang K. Majmudar
Anang K. Majmudar is Senior Vice-President at General American Investors Company, Inc. (GAM), serving in that role since 2019; he has been an officer since 2015 and an employee since 2012. He is 50 years old and his principal occupation is Analyst – general industries; he holds no public company directorships . GAM’s recent investment performance (NAV and market returns) is disclosed below for context.
| Metric | Period 1 | Period 2 |
|---|---|---|
| Return on NAV (incl. reinvested distributions) | 15.74% for six months ended Jun 30, 2024 | 26.58% for twelve months ended Jun 30, 2024 |
| Return to stockholders (market price, incl. reinvested distributions) | 15.76% for six months ended Jun 30, 2024 | 26.62% for twelve months ended Jun 30, 2024 |
| Benchmark (S&P 500, incl. income) | 15.29% for six months ended Jun 30, 2024 | 24.56% for twelve months ended Jun 30, 2024 |
| Net assets applicable to Common Stock | $1,402,088,131 as of Jun 30, 2024 | — |
| NAV per Common Share | $60.14 as of Jun 30, 2024 | — |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| General American Investors Company, Inc. | Senior Vice-President | Since 2019 | Not disclosed |
| General American Investors Company, Inc. | Officer | Since 2015 | Not disclosed |
| General American Investors Company, Inc. | Analyst – general industries | Employee since 2012 | Not disclosed |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| — | No public company directorships | — | — |
Fixed Compensation
| Component | 2024 Amount |
|---|---|
| Base Salary | $425,000 |
| Pension or Retirement Benefits Accrued (Thrift/Excess Plans allocations/reserves) | $51,000 |
| Aggregate Compensation | $1,425,000 |
Plan-level terms: The Employees’ Thrift Plan matches 150% of employee contributions up to 8% of basic salary, with company contributions invested in GAM common stock; vesting is fully vested after 6 years of service (partial vesting begins after 2 years) and eligibility starts after 6 months of service . The Employees’ Retirement Plan is a defined benefit plan based on final average earnings and years of credited service, with full vesting after 6 years and normal retirement at age 65 .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Cash Bonus | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Equity Incentives (RSUs/PSUs/Options) | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
The 2025 proxy discloses aggregate and salary amounts but does not provide a breakdown of bonus targets, performance metrics, or equity award structures for Majmudar .
Equity Ownership & Alignment
| Ownership Type | Shares | Ownership Form | Notes |
|---|---|---|---|
| Common Stock (direct) | 4,703 | Direct (D) | Year-end beneficial ownership; includes 301 shares received as dividend payment on 12/27/2024 (Code J(1), $52.26) |
| Common Stock (indirect via Thrift Plan Trust) | 28,787 | Indirect (I) | Acquired periodically under Thrift Plan; 3,856 shares added on 12/31/2024 (Code J(2)) |
| 5.95% Preferred Stock | 5,400 | Direct (D) | Held in joint tenancy with spouse (Explanation 4) |
Thrift Plan contributions are invested in GAM common stock, creating ongoing alignment and vesting over service periods . Reported 2024 transactions consisted of dividend share receipt and Thrift Plan acquisitions; Form 5 does not show sales transactions for 2024 .
Employment Terms
| Term | Detail |
|---|---|
| Appointment cadence | Officers are appointed each year by the Board at its annual organizational meeting in April |
| Role/tenure | Senior Vice-President since 2019; officer since 2015; employee since 2012 |
| Retirement plan participation | Defined benefit plan; credited service of 12 years for 2024; normal retirement at 65; vesting fully after 6 years (partial after 2) |
| Excess plans | Participant in Excess Contribution and Excess Benefit Plans (addresses IRS limits) |
| Thrift Plan terms | Company matches 150% up to 8% of salary; company contributions invested in GAM stock; vesting fully after 6 years |
Investment Implications
- Pay mix and alignment: Compensation disclosures indicate a cash-heavy structure with defined benefit and thrift plan participation; company-matched Thrift Plan contributions invested in GAM stock foster alignment over time via vesting, but the proxy does not disclose performance-linked bonus metrics or equity incentive design for Majmudar, limiting pay-for-performance transparency .
- Insider activity and selling pressure: Reported 2024 transactions show dividend-share accrual and Thrift Plan acquisitions with year-end beneficial ownership of 4,703 common (direct), 28,787 common (indirect via plan), and 5,400 preferred (joint), with no sales shown in the Form 5—suggesting low selling pressure in the period reviewed .
- Retention risk: Annual officer appointments by the Board and participation in retirement/excess plans support continuity; absence of disclosed change-of-control, severance multiples, or non-compete terms in the proxy limits visibility into retention economics and potential exit costs .
- Execution context: As a senior investment professional (Analyst – general industries) within a closed-end fund, Majmudar’s contributions align with GAM’s investment results; GAM’s NAV and market returns exceeded the S&P 500 over the six- and twelve-month periods ended June 30, 2024, providing supportive performance context without attributing causality to a single officer .