John C. Ball
President, Treasurer, and Principal Financial and Accounting Officer at GAMCO Natural Resources, Gold & Income Trust
Executive
About John C. Ball
John C. Ball serves as President, Treasurer, and Principal Financial and Accounting Officer of GAMCO Natural Resources, Gold & Income Trust (“GNT”), with service since 2017; year of birth 1976. He is Senior Vice President of GAMCO Investors, Inc. (since 2018) and Chief Executive Officer of G. Distributors, LLC (since 2020), and is an officer of registered investment companies within the Gabelli Fund Complex . Officers hold office for an indefinite term until resignation/retirement or until a successor is elected and qualified . As of December 31, 2024, Ball beneficially owned 52 common shares of GNT, less than 1% of outstanding .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| AMG Funds | Vice President and Assistant Treasurer | 2014–2017 | Fund administration and treasury leadership across mutual funds . |
| State Street Corporation | Vice President | 2007–2014 | Fund administration and operations for large-scale asset manager . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| GAMCO Investors, Inc. | Senior Vice President | 2018–Present | Senior leadership position at GNT’s affiliated adviser; oversight across fund complex . |
| G. Distributors, LLC | Chief Executive Officer | 2020–Present | Executive role at affiliated distributor; operational and distribution oversight . |
Fixed Compensation
- GNT’s proxy provides a compensation table for Trustees and any officers compensated directly by the Fund; listed officer compensation for FY2024 includes Molly A.F. Marion ($72,201), but does not list compensation for Ball, indicating he is compensated by the Adviser rather than the Fund .
- Trustee retainers and meeting fees are disclosed (annual retainer $3,000, $1,000 per Board meeting; committee fees; Audit Chair $3,000; Nominating Chair and Lead Independent Trustee $2,000), with aggregate trustee remuneration of $74,000 and four Board meetings in FY2024 .
Performance Compensation
- No disclosure of Ball’s bonus, equity awards (RSUs/PSUs/options), performance metrics, vesting schedules, or clawbacks in GNT’s proxy statements; GNT is a closed-end fund and officers’ compensation is generally handled by the affiliated adviser, not the Fund .
- No change-of-control, severance, or tax gross-up terms disclosed for officers in GNT’s proxy filings reviewed .
Equity Ownership & Alignment
| Metric | FY 2020 | FY 2022 | FY 2024 |
|---|---|---|---|
| Beneficial ownership – Common Shares (shares) | 0 | 0 | 52 |
| Shares outstanding – Common (shares) | — | — | 16,198,039 |
| Ownership as % of Common outstanding | — | — | ~0.0003% (52 ÷ 16,198,039) |
| Preferred Shares owned | 0 | 0 | 0 (not listed) |
- No pledging or hedging policy disclosures specific to officers found in the proxy sections reviewed; beneficial ownership tables indicate Ball’s ownership is de minimis relative to outstanding common shares .
Employment Terms
- Officers serve for an indefinite term until resignation, retirement, or succession; the Fund’s Board is divided into three classes for trustee terms, but officer roles are not term-limited .
- No officer employment agreements, non-compete, non-solicit, garden leave, severance, or change-of-control provisions are disclosed for Ball in the proxy statements reviewed .
Insider Activity and Vesting/Selling Pressure
| Date | Security | Shares | Transaction Type | Source |
|---|---|---|---|---|
| Feb 22, 2024 | Common Shares | 52 | Acquisition | SEC Form 4 and tracking sites referencing Ball’s Form 4 . |
- Ball’s beneficial ownership increased from 0 shares (as of Dec 31, 2022) to 52 shares (as of Dec 31, 2024), consistent with an acquisition in 2024; no insider sales by Ball were identified in reviewed sources .
Board Governance (Context)
- Ball is an officer (not a Trustee). The Board comprises nine Trustees (eight Independent), led by a Lead Independent Trustee (Mr. Conn), and operates Nominating and Audit Committees; multi-fund ad hoc Compensation Committees exist for CCO and certain other officer compensation across the fund complex .
- Audit Committee members and independence/financial expertise are disclosed; meeting frequencies and oversight scope documented for FY2024 .
Investment Implications
- Compensation alignment: No disclosed pay-for-performance structure at the Fund level for Ball; as an adviser-compensated officer, incentives are tied to GAMCO’s internal frameworks, limiting visibility into bonus metrics and equity-based alignment from the Fund’s perspective .
- Ownership alignment: Ball’s stake (52 shares) is immaterial versus 16.2M common shares (~0.0003%), offering limited direct alignment; however, his senior roles at affiliated adviser and distributor suggest retention is tied to the broader Gabelli fund complex rather than GNT-specific equity .
- Selling pressure: Insider activity indicates a small purchase in 2024 and no sales found, implying negligible insider selling pressure from Ball; broader insider flows are dominated by external holders like Saba (11.2% of common as of record date) and affiliates in preferred shares, which are separate from Ball’s holdings .
- Contract/COC risk: No severance, change-of-control, or clawback terms disclosed for Ball at the Fund level, reducing visibility into exit economics or potential windfalls; officer terms are indefinite without explicit employment agreements in the proxy .
Net: Lack of Fund-level performance-tied pay disclosure and de minimis ownership point to modest direct alignment via GNT shares; retention risk likely depends on GAMCO/affiliates’ internal compensation and career pathways. Trading signals from Ball’s activity are minimal; institutional and activist ownership dynamics (e.g., Saba) matter more to GNT’s market behavior than executive insider flows .