Eugene S. Stark
About Eugene S. Stark
Eugene S. Stark is Vice-President, Administration and Principal Financial Officer of General American Investors Company, Inc. (GAM) since 2005 and Chief Compliance Officer since 2006; he is 66 years old as of January 31, 2025 and has served as an officer and employee of GAM since 2005 . The proxy lists external board/affiliation roles at Priority Income Fund, Inc., Prospect Capital Corporation, and Prospect Floating Rate and Alternative Income Fund, Inc. . Performance metrics (TSR, revenue/EBITDA growth) for his tenure are not disclosed in the proxy materials.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| General American Investors Company, Inc. | Vice-President, Administration; Principal Financial Officer | 2005–present | Senior finance and administrative leadership for a closed-end investment company |
| General American Investors Company, Inc. | Chief Compliance Officer | 2006–present | Oversees compliance program, periodic reporting to Board on compliance matters |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Priority Income Fund, Inc. | Director/Affiliation | Not disclosed | External board/affiliation indicating industry expertise and network |
| Prospect Capital Corporation | Director/Affiliation | Not disclosed | External board/affiliation indicating industry expertise and network |
| Prospect Floating Rate and Alternative Income Fund, Inc. | Director/Affiliation | Not disclosed | External board/affiliation indicating industry expertise and network |
Fixed Compensation
- GAM discloses aggregate compensation only for its three highest-paid executive officers and directors; Eugene S. Stark is not one of the named top-three executives, and his individual base salary, target bonus, and actual bonus are not disclosed .
- Company-wide compensation programs:
- Employees’ Thrift Plan: Company matches 150% of employee contributions up to 8% of basic salary; company contributions invested in GAM common stock; vesting fully after 6 years, partial vesting starts after 2 years; eligible after 6 months of service .
- Employees’ Retirement Plan (defined benefit): Benefits based on final average earnings and years of credited service; vesting fully after 6 years, partial vesting starts after 2 years; eligibility after one year; normal retirement at age 65 .
Performance Compensation
- The proxy does not disclose performance-based equity awards (RSUs/PSUs/options), metric weightings, targets, or payouts for Eugene S. Stark. Executive equity award programs are not described; compensation appears cash-based with retirement/thrift plans for 2023–2024 .
Equity Ownership & Alignment
- Beneficial ownership (as of each year-end), including percent of class and breakdowns:
| Metric | 2014 | 2016 | 2018 | 2023 | 2024 |
|---|---|---|---|---|---|
| Common Shares Owned | 1,561 | 4,003 | 5,098 | 8,765 (0.04%) | 9,775 (0.04%) |
| Preferred Shares Owned | 8,100 | 15,000 | 20,000 | 22,500 (0.30%) | 27,500 (0.36%) |
| Ownership Breakdown (notes) | Joint tenancy for common | Joint tenancy for common | Joint tenancy for common | Common held jointly; preferred includes 7,500 joint + IRA holdings | Common held jointly; preferred includes 12,000 joint + spouse/own IRAs |
- Details as of Dec 31, 2024:
- Common stock: 9,775 shares, 0.04% of class; owned jointly by Mr. Stark and his wife .
- Preferred stock: 27,500 shares, 0.36% of class; includes 12,000 joint tenancy, 4,000 spouse IRA, 11,500 Mr. Stark IRA .
- Stock ownership guidelines and compliance: Not disclosed.
- Pledging: No pledged-share classification is indicated in the security ownership tables; footnotes specify joint and IRA holdings but do not reference pledging .
- Vested vs unvested shares, options exercisable/unexercisable: Not disclosed.
Employment Terms
- Officer appointment and term: Officers are appointed annually by the Board of Directors at its annual organizational meeting in April; no fixed multi-year employment contract terms are disclosed .
- Severance and change-of-control: Not disclosed in proxy materials; no 8-K Item 5.02 filings identified for GAM during 2023–2025 that would detail executive employment agreements or transitions [List: 0 results for 8-K 5.02].
- Non-compete/non-solicit, garden leave, post-termination arrangements: Not disclosed.
- Clawback provisions, tax gross-ups: Not disclosed.
Compensation Committee and Governance Context
- Compensation Committee: Arthur G. Altschul, Jr. (Chair), Spencer Davidson, Rose P. Lynch; independent of management. Reviews company operations/performance, officer contributions, operating data for comparable investment companies, information from an external data provider, and management proposals for compensation; recommends compensation to the Board .
- Other relevant committees: Audit, Executive, Nominating, Pension – provide oversight of financial reporting, risk management, director nominations, and employee retirement/thrift plans .
Investment Implications
- Pay-for-performance transparency is limited: The proxy does not disclose individual cash compensation for Eugene Stark or any performance metric-based equity programs; incentive alignment therefore relies primarily on retirement/thrift plan structure (company match invested in GAM stock) and personal share ownership .
- Ownership alignment is modest but rising: Common holdings increased to 9,775 shares (0.04%) and preferred holdings to 27,500 shares (0.36%) by 2024, with documented joint and IRA allocations—indicating ongoing exposure to GAM equity capital without evidence of pledging in disclosures .
- Retention risk appears low given tenure and annual reappointment framework: Stark has served continuously since 2005 as PFO and since 2006 as CCO; officers are reappointed annually, but no severance/CIC protections or constraints are disclosed (which can imply limited contractual lock-ins but also fewer shareholder-unfriendly parachutes) .
- Trading signals: No Form 4 data is available in these materials; however, beneficial ownership has trended upward over time. Monitor future proxy tables and Form 4s for any notable sales, option exercises, or shifts in preferred/common positioning; also monitor any Item 5.02 8-Ks for employment changes (none found for 2023–2025) .