David I. Schachter
About David I. Schachter
David I. Schachter (born 1953) serves as Vice President and Ombudsman of GAMCO Natural Resources, Gold & Income Trust (GNT) and has held this officer role since 2008 . He is also Senior Vice President of G.research, LLC (since 2015), reflecting long-tenured responsibilities across the Gabelli closed‑end fund complex . A 2025 press release describes him as a most senior and experienced veteran of the U.S. closed‑end fund industry, with over 40 years focused on retail, long‑term, closed‑end fund investors, and confirms his role as Vice President of GNT . Fund-level TSR, revenue growth, and EBITDA growth metrics tied to officer compensation are not disclosed in GNT’s proxy; compensation discussions focus on trustees and one officer paid by the Fund, with no performance-metric-linked pay for Schachter .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| GAMCO Natural Resources, Gold & Income Trust (GNT) | Vice President & Ombudsman | Since 2008 | Vice President and/or Ombudsman of closed‑end funds within Gabelli Fund Complex |
| The Gabelli Global Utility & Income Trust (GLU) | Vice President | Since 2004 | Vice President and/or Ombudsman across Gabelli Fund Complex |
| The GDL Fund (GDL) | Vice President | Since 2006 | Vice President and/or Ombudsman across Gabelli Fund Complex |
| Gabelli Dividend & Income Trust (GDV) | Vice President | Since 2011 | Vice President and/or Ombudsman across Gabelli Fund Complex |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| G.research, LLC | Senior Vice President | Since 2015 | Senior sell‑side leadership supporting Gabelli funds |
| Gabelli Funds, LLC | Senior Vice President | Current as of 2025 | Industry veteran; UK investor engagement; confirms GNT VP role |
| GDV (Spin-off communications) | Investor Relations team (release) | Feb 2025 | Listed on GDV Form 425 IR team related to spin-off announcement |
Fixed Compensation
- GNT discloses compensation for trustees and one officer (Molly A.F. Marion) paid directly by the Fund in FY2024; Schachter is not listed as receiving compensation from GNT, indicating his pay is through the Adviser or affiliates rather than the Fund .
- Officer terms indicate indefinite service until resignation/retirement or successor election; no salary or bonus details for Schachter are disclosed by GNT .
Performance Compensation
- GNT’s proxy does not disclose any performance-based compensation framework (e.g., bonus metrics, PSUs/RSUs, options) for Schachter; no targets, weightings, payouts, or vesting schedules are provided .
- No clawbacks, tax gross-ups, or retention bonuses for Schachter are disclosed in GNT’s proxy .
Equity Ownership & Alignment
- Beneficial ownership tables list trustees and select executive officers; Schachter is not listed with share ownership in GNT, and executive officers as a group own less than 1% of total Common and Preferred shares outstanding, indicating minimal officer equity alignment at the Fund level .
- No shares pledged as collateral, hedging disclosures, or ownership guideline compliance information for Schachter are provided in GNT’s proxy .
Employment Terms
- Officer tenure: Schachter has served as Vice President & Ombudsman of GNT since 2008 .
- Term and renewal: Officers hold office for an indefinite term until resignation/retirement or until a successor is duly elected and qualified—no employment contract term, non‑compete/non‑solicit, or garden-leave provisions are disclosed .
- Change-of-control/severance: GNT’s proxy provides no severance or change‑of‑control economics for officers; trustees’ governance and committee structures are disclosed without officer severance terms .
Performance & Track Record
- Industry engagement: Schachter’s January 2025 press release highlights his extensive experience and investor outreach (UK meetings), reinforcing his role in investor education and closed‑end fund advocacy .
- Fund operational oversight and governance are handled by the Board and committees; officer performance metrics (TSR, revenue, EBITDA) tied to compensation are not disclosed for Schachter .
Risk Indicators & Red Flags
- Section 16 filings: GNT reported compliance with applicable filing requirements for relevant insiders in 2024, except for one late Form 4 by Mario J. Gabelli; no filing issues are noted for Schachter .
- Equity award repricing, pledging, or related‑party transactions involving Schachter are not disclosed in GNT’s proxy .
Compensation Structure Analysis
- Pay linkage: Absence of disclosed Fund‑paid cash salary/bonus or equity awards for Schachter suggests compensation is paid by the Adviser; there is no disclosed pay‑for‑performance link at the GNT level for Schachter .
- Mix and guarantees: With no GNT‑disclosed officer compensation for Schachter, changes in cash vs equity mix and guaranteed vs at‑risk pay cannot be assessed from GNT filings .
- Equity incentives: No RSUs/PSUs or options are disclosed for Schachter; therefore, no vesting calendars or insider selling pressure stemming from scheduled releases are evident from GNT’s proxy .
Investment Implications
- Alignment: Minimal disclosed officer equity ownership and no Fund‑level performance‑linked compensation for Schachter reduce direct pay‑for‑performance alignment with GNT shareholders .
- Retention risk: Long tenure across multiple Gabelli funds (GLU since 2004; GDL since 2006; GNT since 2008; GDV since 2011) and senior roles at G.research/Gabelli indicate institutional continuity; lack of severance/change‑of‑control terms reduces contractual retention hooks but multi‑fund responsibilities likely stabilize retention .
- Trading signals: With no officer equity award vesting schedule or pledging disclosed for Schachter, there are limited direct insider‑driven supply signals; monitor 8‑K 5.02 filings for any officer changes and DEF 14A updates for future compensation/ownership disclosures .