John C. Ball
About John C. Ball
John C. Ball (born 1976) serves as President, Treasurer, and Principal Financial and Accounting Officer of The GDL Fund and has held officer roles since 2017 . He is Senior Vice President of GAMCO Investors, Inc. (since 2018) and Chief Executive Officer of G. Distributors, LLC (since 2020) . Prior roles include Vice President and Assistant Treasurer of AMG Funds (2014–2017) . The Fund’s proxy filings do not disclose TSR, revenue, or EBITDA performance metrics tied to Ball’s compensation .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| AMG Funds | Vice President & Assistant Treasurer | 2014–2017 | Not disclosed |
| The GDL Fund | Officer (various, culminating in President, Treasurer, PFAO) | Since 2017 | Officer of registered investment companies within the Gabelli Fund Complex |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| GAMCO Investors, Inc. | Senior Vice President | Since 2018 | Not disclosed |
| G. Distributors, LLC | Chief Executive Officer | Since 2020 | Not disclosed |
| Gabelli Fund Complex | Officer of registered investment companies | Since 2017 | Not disclosed |
Fixed Compensation
- The Fund’s compensation tables for FY 2024 and FY 2023 list Trustee compensation and one officer (Vice President and Ombudsman), but do not list any Fund-paid compensation for Ball, indicating his compensation is paid by the Adviser rather than the Fund .
- The Fund discloses meeting fees and retainers for Trustees; these are not applicable to Ball (an officer, not a Trustee) .
Performance Compensation
- The Fund’s proxy statements do not disclose RSUs, PSUs, options, performance metrics, targets, payout formulas, or vesting schedules for Ball .
Equity Ownership & Alignment
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Common Shares Beneficially Owned (shares) | 0 | 0 | 32 |
| Ownership as % of Shares Outstanding | <1% (asterisk) | <1% (asterisk) | <1% (asterisk) |
- No disclosure of vested vs unvested shares, options (exercisable/unexercisable), or in-the-money value for Ball in the Fund’s filings .
- No disclosure of shares pledged as collateral or of officer stock ownership guidelines/compliance status in the Fund’s filings .
Employment Terms
- Office tenure: Ball has served as an officer since 2017 and currently holds President, Treasurer, and Principal Financial and Accounting Officer titles .
- Term: Each officer holds office for an indefinite term until resignation/retirement or until a successor is duly elected and qualified .
- No disclosed employment agreement, severance, change‑of‑control provisions, clawbacks, non‑compete/non‑solicit, garden leave, consulting arrangements in the Fund’s proxy statements for Ball .
- Section 16(a) compliance: The Fund reports insiders complied with applicable ownership reporting in FY 2024; FY 2023 notes one late Form 4 by Mr. Gabelli (not Ball) .
Investment Implications
- Alignment: Ball’s direct ownership (32 common shares, <1%) is minimal, suggesting limited direct economic exposure to GDL’s share price; lack of disclosed equity awards further points to compensation alignment primarily via the Adviser rather than GDL-specific equity incentives .
- Retention: Longstanding tenure (officer since 2017) and concurrent senior roles at GAMCO and G. Distributors indicate organizational embeddedness; absence of disclosed severance/change-of-control terms reduces clarity on exit economics but Fund officer terms are indefinite .
- Trading signals: No disclosed insider sales or option activity for Ball and minimal share ownership imply limited direct insider selling pressure from Ball; Section 16 compliance reduces governance risk around reporting .
- Governance context: Independent Trustees oversee audit and nominating functions with regular meetings; however, executive compensation specifics for Fund officers are largely outside Fund disclosures and handled at the Adviser level, constraining pay-for-performance analysis at the GDL entity .