Peter Goldstein
About Peter Goldstein
Peter Goldstein serves as Secretary and Vice President of Gabelli Global Utility & Income Trust (GLU). He was first appointed in August 2020; the proxy lists his year of birth as 1953 and his age as 68 in the 2021 filing . His background includes General Counsel, GAMCO Investors, Inc., Chief Legal Officer, Associated Capital Group, Inc. (since 2021), and prior legal and compliance leadership at Buckingham Capital Management, Inc. and The Buckingham Research Group, Inc. (2012–2020) . GLU proxies do not disclose officer-specific pay-for-performance metrics (e.g., TSR, revenue or EBITDA-linked goals) and state that Fund officers employed by the Adviser receive no compensation or expense reimbursement from the Fund .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Buckingham Capital Management, Inc. | General Counsel & Chief Compliance Officer | 2012–2020 | Not disclosed in Fund proxy |
| The Buckingham Research Group, Inc. | Chief Legal Officer & Chief Compliance Officer | 2012–2020 | Not disclosed in Fund proxy |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| GAMCO Investors, Inc. | General Counsel | Since 2021 | Not disclosed in Fund proxy |
| Associated Capital Group, Inc. | Chief Legal Officer | Since 2021 | Not disclosed in Fund proxy |
Fixed Compensation
The Fund reports that officers employed by the Adviser receive no compensation or expense reimbursement from the Fund; any salary/bonus/equity for such officers is not disclosed in GLU’s proxy materials.
| Component | FY 2020 | FY 2021 | FY 2022 | FY 2023 |
|---|---|---|---|---|
| Base salary | Not disclosed by Fund (Adviser-employed) | Not disclosed by Fund (Adviser-employed) | Not disclosed by Fund (Adviser-employed) | Not disclosed by Fund (Adviser-employed) |
| Target bonus % | Not disclosed by Fund (Adviser-employed) | Not disclosed by Fund (Adviser-employed) | Not disclosed by Fund (Adviser-employed) | Not disclosed by Fund (Adviser-employed) |
| Actual bonus paid | Not disclosed by Fund (Adviser-employed) | Not disclosed by Fund (Adviser-employed) | Not disclosed by Fund (Adviser-employed) | Not disclosed by Fund (Adviser-employed) |
| Cash compensation from Fund | $0 reported for Adviser-employed officers; only Vice President/Ombudsman (Tokar) received Fund-level salary | $0 reported for Adviser-employed officers | $0 reported for Adviser-employed officers; Tokar received $100,410 | $0 reported for Adviser-employed officers |
Note: GLU proxies consistently show compensation tables for Trustees and the Vice President/Ombudsman (a Fund-paid officer), and explicitly state Adviser-employed officers receive no Fund compensation .
Performance Compensation
No performance-based compensation metrics (e.g., revenue growth, EBITDA, TSR percentiles, ESG goals) for Adviser-employed officers are disclosed in GLU proxy materials; thus, payout curves/targets/weightings/vesting are not available.
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed (Adviser-employed officer) | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
Equity Ownership & Alignment
| Metric | FY 2020 (as of 12/31/2020) | FY 2021 (as of 12/31/2021) | FY 2022 (as of 12/31/2022) | FY 2023 (as of 12/31/2023) |
|---|---|---|---|---|
| Common shares beneficially owned | 0 | 0 | 0 | 0 |
| Percent of shares outstanding | * (<1%) | * (<1%) | * (<1%) | * (<1%) |
- Initial Form 3 (Aug 26, 2020) reported “No securities are beneficially owned” for GLU .
- No options/RSUs/PSUs or pledging/hedging disclosures for Peter Goldstein are provided in GLU proxies; items not disclosed should be assumed “not disclosed” rather than “none” .
Employment Terms
- Position and tenure: Secretary and Vice President, since August 2020; address One Corporate Center, Rye, NY 10580-1422; year of birth 1953; age 68 cited in 2021 proxy .
- Compensation source: Officers employed by the Adviser (including Goldstein) receive no compensation or expense reimbursement from the Fund; Adviser-level employment terms (severance, change-of-control, clawbacks, ownership guidelines) are not disclosed in GLU proxies .
- Beneficial ownership reporting: Form 3 filed with no holdings; also signs as Attorney-in-Fact on a 2025 filing, reflecting legal authority rather than personal trading activity .
Investment Implications
- Pay-for-performance alignment at the Fund level is minimal for Goldstein: GLU explicitly does not compensate Adviser-employed officers, and no performance metric linkages or award structures are disclosed; alignment and incentives therefore reside at GAMCO/Associated Capital and are not available to Fund investors from GLU filings .
- Skin-in-the-game appears limited: proxies across 2020–2023 disclose zero common shares owned and <1% of shares outstanding, implying no direct ownership-based alignment or pledging-related risks at the Fund level .
- Trading signals are muted: initial Form 3 stated no beneficial ownership; subsequent signature as Attorney-in-Fact indicates legal capacity rather than insider trading activity or selling pressure from personal holdings .
- Retention and execution risk are not assessable from Fund filings: employment contracts, severance/change-of-control economics, and performance-linked pay are Adviser-level and not disclosed by GLU, limiting visibility into incentives and potential retention risk for this executive .