Richard Walz
About Richard Walz
Richard J. Walz serves as Chief Compliance Officer (CCO) of GAMCO Global Gold, Natural Resources & Income Trust (GGN); year of birth 1959; he has served as CCO across registered investment companies within the Gabelli Fund Complex since 2013, indicating a 12+ year tenure in the role . The proxy does not disclose education or prior employment history for Mr. Walz . The Fund’s materials do not tie the CCO’s pay to total shareholder return or operating metrics; compensation oversight for the CCO is conducted by Independent Trustees via a multi‑fund ad hoc Compensation Committee rather than performance targets such as TSR, revenue, or EBITDA .
Past Roles
No prior roles for Mr. Walz are disclosed beyond “Chief Compliance Officer of registered investment companies within the Gabelli Fund Complex since 2013.”
External Roles
No external directorships or outside roles for Mr. Walz are disclosed in the proxy statement.
Fixed Compensation
- The Fund’s compensation table lists compensation for Trustees and “officers, if any, who were compensated by the Fund rather than the Adviser”; Mr. Walz is not included in that table, indicating no Fund‑level cash compensation disclosure for him in 2024 .
- The Board operates a multi‑fund ad hoc Compensation Committee specifically for the Chief Compliance Officer across the Fund Complex, reflecting Independent Trustee oversight of the CCO’s compensation framework rather than pay‑for‑performance targets disclosed at the fund level .
Performance Compensation
- The proxy does not disclose any stock options, RSUs/PSUs, equity incentives, or performance‑based bonus metrics for Mr. Walz; officers are generally employees of the adviser and the Fund’s table shows no equity or performance plans for fund officers .
- No vesting schedules, performance metric weightings, or payout outcomes for Mr. Walz are provided in the proxy .
Equity Ownership & Alignment
| Metric | As of Dec 31, 2024 |
|---|---|
| Beneficial ownership – Common Shares | 0 |
| Percent of Shares Outstanding | <1% (as disclosed; group totals for officers/trustees are each <1%) |
| Shares pledged as collateral | Not disclosed |
- Section 16(a) compliance: The Fund states that, based on its review, required Section 16(a) forms were filed on time during 2024 by officers and Trustees .
Employment Terms
- Office/term: “Each officer will hold office for an indefinite term until the date he or she resigns or retires or until his or her successor is elected and qualified.” This applies to the CCO position held by Mr. Walz .
- Governance/oversight: Independent Trustees oversee compliance and risk; the Board receives periodic reports from the CCO regarding the compliance program, underscoring the critical control function of the CCO role .
- No employment contract, severance, or change‑of‑control terms for Mr. Walz are disclosed in the proxy .
Investment Implications
- Alignment: With 0 shares directly beneficially owned in GGN and no disclosed equity awards or fund‑linked incentives, direct pay‑for‑performance alignment (via equity) appears minimal at the fund level for the CCO role .
- Oversight comfort: Compensation for the CCO is overseen by Independent Trustees through a multi‑fund ad hoc Compensation Committee, and the Board receives ongoing compliance reporting from the CCO—factors that support governance quality and regulatory risk management .
- Retention risk: Officers serve indefinite terms; no severance or change‑of‑control economics are disclosed, offering limited visibility into retention hooks or exit costs tied to the CCO role .
- Trading/supply overhang: With no reported holdings or vesting schedules, there is no identifiable near‑term insider selling pressure from Mr. Walz’s fund‑level equity .
- Monitoring: Watch future proxies for any updates to CCO compensation governance, inclusion in Fund‑paid officer compensation, or changes in beneficial ownership; current materials indicate no delinquent Section 16 filings in 2024 .