Anthony S. Colavita
About Anthony S. Colavita
Anthony S. Colavita (born 1961) is an Independent Trustee of The Gabelli Global Small and Mid Cap Value Trust (GGZ) since 2018. He is an attorney at Anthony S. Colavita, P.C. (since Feb 1988) and Town Supervisor of Eastchester, NY (since Jan 2004) overseeing a ~$35 million municipal budget; prior roles include counsel to the New York State Senate and Eastchester Town Councilman (1998–2003). He holds a B.A. from Colgate University and a J.D. from Pace University School of Law .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Anthony S. Colavita, P.C. | Attorney | Feb 1988–present | Legal practice |
| Town of Eastchester, NY | Town Supervisor | Jan 2004–present | Oversees ~$35 million budget; municipal administration |
| New York State Senate | Counsel | Prior to current roles | Legislative/regulatory counsel |
| Eastchester Town Council | Councilman | 1998–2003 | Community governance |
| Various not-for-profit corporations | Board member | Not specified | Community program oversight |
External Roles
| Organization | Role | Tenure | Public company boards / interlocks |
|---|---|---|---|
| — | — | — | None disclosed in past five years (excludes other Gabelli-managed funds) |
Board Governance
- Independence: Classified as Independent Trustee; Independent Trustees meet regularly in executive session and chair all board committees .
- Committee memberships and roles:
- Nominating Committee member; committee composed of Conn (Chair), Colavita, Zizza; met once in FY2024 .
- Member of ad hoc Proxy Voting Committee and ad hoc Pricing Committee (multi-fund working groups) .
- Attendance and engagement:
- Board met four times in FY2024; each Trustee attended at least 75% of board and relevant committee meetings in 2022–2024 .
- The Fund does not expect Trustees to attend the Annual Meeting; no Trustees/nominees attended the Annual Meetings held May 22, 2023 or May 13, 2024 .
- Board leadership: James P. Conn is Lead Independent Trustee; he presides over executive sessions and liaises with service providers .
- Tenure and terms: Joined the board in 2018; nominated in 2024 to serve a term expiring at the 2027 Annual Meeting .
Fixed Compensation
- Structure:
- Annual retainer $3,000; $1,000 per Board meeting attended; $500 per committee meeting attended; Audit Committee Chair $2,000; Nominating Committee Chair $1,000; Lead Independent Trustee $1,000 .
- Actual compensation (Fund-level and Fund Complex):
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Aggregate Compensation from GGZ ($) | $7,500 | $7,500 | $7,000 |
| Aggregate Compensation from Fund Complex ($) | $168,000 (22 portfolios) | $169,758 (23 portfolios) | $169,250 (23 portfolios) |
Performance Compensation
| Compensation Element | Details |
|---|---|
| Bonus / Target bonus % | None disclosed for Trustees; compensation is cash retainers and meeting fees |
| Stock awards (RSUs/PSUs) | None disclosed for Trustees |
| Option awards | None disclosed for Trustees |
| Performance metrics (EBITDA/TSR/ESG) | Not applicable to Trustee compensation; no performance-linked elements disclosed |
| Vesting schedules | Not applicable (no equity awards disclosed) |
| Change-in-control / severance / clawbacks / tax gross-ups | Not disclosed for Trustees |
Other Directorships & Interlocks
| Category | Disclosure |
|---|---|
| Current public company boards | None disclosed (outside Gabelli fund complex) |
| Shared directorships with competitors/suppliers/customers | None disclosed |
| Prior public company boards (past 5 years) | None disclosed |
| Roles across Gabelli Fund Complex | Oversees 23 portfolios; serves on comparable committees across other funds |
Expertise & Qualifications
- Legal and regulatory expertise from long-standing law practice; municipal executive experience managing ~$35 million budgets .
- Community and non-profit governance experience; prior legislative counsel background .
- Education: B.A., Colgate University; J.D., Pace University School of Law .
Equity Ownership
| Holder | Common Shares Owned | Preferred Shares Owned | Percent of Outstanding | Dollar Range in Fund | Aggregate Dollar Range in Fund Complex |
|---|---|---|---|---|---|
| Anthony S. Colavita | 0 | 0 | <1% | A. None | A. None |
- Additional context: Beneficial ownership tables for 2023 and 2022 also report zero GGZ shares for Colavita and “A. None” dollar range in the Fund .
Governance Assessment
- Committee engagement: Active on Nominating and ad hoc committees; not a committee chair, which limits direct agenda-setting authority but maintains independent oversight .
- Independence and attendance: Independent Trustee with ≥75% attendance in 2022–2024; Board meets quarterly; Nominating met once in FY2024; baseline but not exceptional engagement signal .
- Ownership alignment: RED FLAG — zero GGZ share ownership and “A. None” dollar range; diminishes perceived “skin-in-the-game” alignment for investors .
- Shareholder engagement: The Fund does not expect Trustees to attend Annual Meetings; none attended in 2023 or 2024, which may constrain direct shareholder interaction .
- Conflicts/related-party exposure: No specific related-party interests disclosed for Colavita in adviser-affiliated entities; contrast with disclosures made for certain other Independent Trustees, which do not include Colavita .
Implications: While legal/municipal budgeting expertise supports Nominating and governance work, the lack of personal GGZ ownership and limited Annual Meeting presence may be viewed negatively for alignment and engagement. No disclosed related-party exposures mitigate conflict risk; independence is maintained via committee structure and executive sessions .