Carter W. Austin
About Carter W. Austin
Carter W. Austin is Vice President of GAMCO Natural Resources, Gold & Income Trust (GNT) and has served in this officer role since 2008; he was born in 1966 and is also a Senior Vice President of Gabelli Funds, LLC (since 2015). His biography in the proxy describes him as “Vice President and/or Ombudsman of closed-end funds within the Gabelli Fund Complex,” with a business address at One Corporate Center, Rye, NY 10580-1422. The proxy does not disclose executive-specific performance metrics (e.g., TSR, revenue/EBITDA growth) tied to his role at GNT. Section 16(a) compliance is reported as timely for covered insiders during 2024, with one late Form 4 by Mario J. Gabelli noted by the Fund.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| GAMCO Natural Resources, Gold & Income Trust (GNT) | Vice President | Since 2008 | Officer of the Fund; Vice President and/or Ombudsman across Gabelli closed-end funds |
| Gabelli Funds, LLC | Senior Vice President | Since 2015 | Senior leadership at the Fund’s Adviser |
| Gabelli Funds, LLC | Vice President | Since 1996 | Officer at the Adviser (historical role prior to SVP) |
| Gabelli/GAMCO Fund Complex (closed-end funds) | Vice President and/or Ombudsman | Ongoing | Officer/ombudsman capacity across closed-end funds in the complex |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| None disclosed in GNT proxy biography | — | — | The proxy provides no external directorships/roles for Austin |
Fixed Compensation
| Component | FY 2024 |
|---|---|
| Base Salary | Not disclosed in GNT proxy (officer compensation by Adviser; Fund shows only officers, if any, compensated by the Fund) |
| Target Bonus % | Not disclosed |
| Actual Bonus Paid | Not disclosed |
| Cash Paid by Fund to Officers | Only Molly A.F. Marion (Vice President & Ombudsman) is listed with $72,201; Austin is not listed as compensated by the Fund |
Note: As a closed-end fund, officer compensation is generally borne by the Adviser; the proxy presents officers “if any” compensated by the Fund. Austin is not listed with Fund-paid compensation in FY2024.
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| RSUs/PSUs/Options | — | — | — | — | — |
| Notes | No performance-based award details (RSUs, PSUs, options), metrics, or vesting schedules are disclosed for Austin in the GNT proxy. |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership of GNT shares | Austin is not listed among executive officers in the beneficial ownership table; no ownership is disclosed for him as of Dec 31, 2024 |
| Ownership as % of outstanding | Not disclosed |
| Vested vs. unvested shares | Not disclosed |
| Options (exercisable vs. unexercisable) | Not disclosed |
| Pledging/Hedging | Not disclosed |
| Stock ownership guidelines (officers) | Not disclosed (trustee dollar-range holdings are provided separately) |
| Section 16(a) compliance | Fund states covered insiders complied in 2024; one late Form 4 filing by Mario J. Gabelli |
Employment Terms
| Term | Detail |
|---|---|
| Employment start in current role | Vice President of GNT since 2008 |
| Contract term/expiration | Not disclosed |
| Severance provisions | Not disclosed |
| Change-of-control | Not disclosed |
| Clawback | Not disclosed |
| Non-compete / Non-solicit | Not disclosed |
| Garden leave / Post-termination consulting | Not disclosed |
Compensation Committee and Governance Notes
- The Board operates multi-fund ad hoc Compensation Committees that address compensation of the Chief Compliance Officer and certain other closed-end fund officers across the Gabelli Fund Complex. The proxy does not specifically identify Austin’s compensation terms or metrics via these committees.
Investment Implications
- Limited direct alignment via equity: No beneficial ownership is disclosed for Austin in the Fund’s beneficial ownership table, and there are no pledging/hedging disclosures—suggesting limited direct “skin-in-the-game” via GNT shares for this officer. Monitor for future ownership filings and any Form 4 activity.
- Compensation transparency is low: GNT’s proxy lists only Fund-paid officer compensation (none for Austin), with primary compensation expected at the Adviser (undisclosed in this proxy). Absence of disclosed performance metrics, equity awards, or vesting schedules reduces visibility into pay-for-performance alignment for this role.
- Tenure signals continuity, not necessarily incentive alignment: Austin’s long service since 2008 indicates organizational continuity and low apparent short-term retention risk, but the lack of disclosed equity or incentive metrics tied to Fund outcomes constrains inference on performance alignment.
- Governance framework exists but is indirect for this role: Compensation of certain closed-end fund officers is overseen by multi-fund ad hoc committees; without role-specific disclosures, it’s difficult to assess incentive rigor for Austin. Section 16 compliance was broadly observed for 2024.
Monitoring plan: Track future DEF 14A filings for any officer compensation disclosures, beneficial ownership updates, or policy changes (clawbacks, ownership guidelines). Watch for 8-K 5.02 filings (appointments/departures) and any Form 4 activity to assess potential selling pressure or new equity grants.