Anthony Colavita
About Anthony S. Colavita
Anthony S. Colavita, Esq. is an Independent Trustee of GAMCO Global Gold, Natural Resources & Income Trust (GGN) and Chairman of the Nominating Committee. He has served since May 16, 2018 and was elected by the Fund’s Preferred Shareholders; his current term runs until the 2026 Annual Meeting of Shareholders (not standing for election in 2025) . Colavita is a practicing attorney (Anthony S. Colavita, P.C. since February 1988) and Town Supervisor of Eastchester, NY since January 2004, overseeing a ~$35 million municipal budget; he holds a B.A. from Colgate University and a J.D. from Pace University School of Law . He was born in 1961 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Anthony S. Colavita, P.C. | Practicing Attorney | Feb 1988–present | Legal practitioner (private practice) |
| Town of Eastchester, NY | Town Supervisor | Jan 2004–present | Responsible for review, adoption, and administration of ~$35 million municipal budget |
| Town of Eastchester, NY | Town Councilman | 1998–2003 | Municipal governance |
| New York State Senate | Counsel (prior) | Not specified | Legislative counsel experience |
| Various not-for-profits | Board member | Not specified | Community programs governance |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Town of Eastchester, NY | Town Supervisor | Jan 2004–present | Oversees ~$35 million budget |
| Not-for-profit corporations | Board Member | Not specified | Community-based programs |
| New York State Senate | Counsel (prior) | Not specified | Prior legislative counsel |
Board Governance
- Board classification and independence: The Board consists of 11 Trustees, 10 of whom are not “interested persons” under the 1940 Act; Colavita is listed within the “Independent Trustees/Nominees” category .
- Nominating Committee: Colavita serves as Chairman; the committee comprises Independent Trustees Colavita (Chair), Melarkey, and Zizza, and met once in FY2024. It oversees trustee candidate identification and recommendations; independence is determined under NYSE American guidelines .
- Election by Preferred Shareholders: Under Fund governance, Preferred Shareholders elect two Trustees. Colavita and Conn currently hold these seats; Colavita’s term expires at the 2026 Annual Meeting and he is not standing for election in 2025 .
- Board meetings and attendance: The Board met four times in FY2024 (regular quarterly). Each Trustee then serving attended at least 75% of Board meetings and applicable committee meetings .
- Annual meeting attendance: The Fund does not expect Trustees to attend the Annual Meeting; none attended the May 13, 2024 annual meeting .
Fixed Compensation
| Component | Policy/Amount | FY2024 Colavita Amount | Notes |
|---|---|---|---|
| Annual retainer (Independent Trustees) | $15,000 per year | $15,000 | Standard cash retainer |
| Board meeting fee | $2,000 per Board meeting | $8,000 (4 meetings × $2,000) | Regular quarterly meetings |
| Committee meeting fee | $1,000 per committee meeting | $0 (Nominating Committee met once; see chair stipend) | Committee met once |
| Nominating Committee Chair fee | $2,000 annual | $2,000 | Chair stipend |
| Aggregate compensation from GGN (FY2024) | Reported aggregate | $25,000 | Sum consistent with retainer + four board meetings + chair stipend |
| Aggregate compensation from Fund Complex (FY2024) | Reported aggregate | $169,250 (across 23 funds/portfolios) | Number of overseen portfolios shown in trustee table |
The Fund’s total remuneration to Trustees (excluding expenses) was $266,000 for FY2024 .
Performance Compensation
| Element | Disclosure | Notes |
|---|---|---|
| Stock awards (RSUs/PSUs) | None disclosed for Trustees | Proxy presents only cash retainers/fees |
| Option awards | None disclosed for Trustees | No options or equity instruments disclosed |
| Performance metrics in pay | None disclosed for Trustees | No revenue/EBITDA/TSR/ESG metrics tied to trustee pay |
| Clawbacks / Change-of-control / Severance | Not disclosed for Trustees | Items apply to executive officers; not presented for Trustees |
Other Directorships & Interlocks
| Individual | Current Public Company Boards | Prior Public Company Boards (past 5 years) | Notes |
|---|---|---|---|
| Anthony S. Colavita | — | — | Trustee table lists “Other Directorships Held by Trustee: —” (excluding other funds managed by the Adviser) |
Expertise & Qualifications
- Legal and governance expertise: Long-standing attorney since 1988; prior legislative counsel to NY State Senate .
- Public sector financial oversight: Town Supervisor of Eastchester since 2004 with oversight of ~$35 million municipal budget .
- Education: B.A. (Colgate University); J.D. (Pace University School of Law) .
- Fund complex oversight: Oversees 23 portfolios within the Gabelli Fund Complex .
- Board roles: Chairman of Nominating Committee; Trustee elected by Preferred Shareholders .
Equity Ownership
| Name | Dollar Range of Equity Securities Held in GGN | Aggregate Dollar Range in Fund Complex | Valuation Date |
|---|---|---|---|
| Anthony S. Colavita | A. None | A. None | As of Dec 31, 2024 |
Dollar Range Key: A=None; B=$1–$10,000; C=$10,001–$50,000; D=$50,001–$100,000; E=Over $100,000 .
Governance Assessment
- Independence and committee leadership: Colavita is classified as an Independent Trustee and chairs the Nominating Committee, which met once in FY2024, indicating a formal role in board refreshment and shareholder-submitted nominations .
- Attendance and engagement: Board met quarterly; each Trustee met at least the 75% attendance threshold. However, the Fund does not expect Trustees to attend shareholder annual meetings and none attended in 2024—this is atypical compared to operating companies and may be viewed as a shareholder engagement gap for some investors .
- Pay structure and alignment: Trustee compensation is fully cash-based (retainer + meeting fees + chair stipend) with no equity grants or performance-linked elements; Colavita’s FY2024 compensation from GGN was $25,000, and he reported no ownership in GGN or the Fund Complex as of year-end—this mix and ownership posture may signal limited financial alignment with shareholders in the context of closed-end fund governance norms .
- Election by Preferred Shareholders: As one of two Preferred Shareholder-elected Trustees (with Conn), Colavita’s seat reflects capital structure governance; his term extends to 2026 and he is not up for election at the 2025 meeting .
- RED FLAGS:
- No GGN or Fund Complex share ownership disclosed (Dollar Range “A. None”), potentially weakening “skin-in-the-game” alignment .
- No attendance at the 2024 annual shareholder meeting (consistent with Fund practice), which may be scrutinized by investors prioritizing direct shareholder engagement .
- Balancing considerations: Legal background and municipal financial oversight (budget administration) add process rigor and public-sector governance experience to the board’s skill mix; chairing nominations centralizes his role in board composition and continuity .