Vincent D. Enright
About Vincent D. Enright
Vincent D. Enright (born 1943) is an Independent Trustee of GAMCO Natural Resources, Gold & Income Trust (GNT) and has served since the Fund’s organizational meeting in August 2008; he is a former Senior Vice President and Chief Financial Officer of KeySpan Corp., an energy public utility (1994–1998). He holds a Bachelor’s degree from Fordham University and completed the Advanced Management Program at Harvard University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| KeySpan Corp. (public utility) | SVP & CFO | 1994–1998 | Senior finance leadership |
| Echo Therapeutics, Inc. | Director | 2008–2014 | Chairman of Compensation Committee; Member of Audit Committee |
| The LGL Group, Inc. | Director | 2011–2014 | Not disclosed |
| Unspecified pharmaceutical company | Director | Not disclosed | Not disclosed |
| Unspecified diversified manufacturing company | Director | Not disclosed | Not disclosed |
External Roles
No current public company directorships are disclosed for Mr. Enright in the past five years, beyond the Fund Complex; prior roles are listed above .
Board Governance
- Independence: Classified as an Independent Trustee under the 1940 Act; none of his family members had interests in the Adviser or persons under common control as of year-end 2024 .
- Committees: Chairman of the Fund’s ad hoc Proxy Voting Committee; Member of the Audit Committee; Member of the ad hoc Pricing Committee; Member of two multi-fund ad hoc Compensation Committees (CCO and other closed-end fund officers) .
- Audit Committee: Comprised of Independent Trustees Heitmann (Chair), Enright, Fahrenkopf, and Zizza; each financially literate; Heitmann designated Audit Committee Financial Expert .
- Board leadership: No Board Chair; James P. Conn serves as Lead Independent Trustee and presides over executive sessions .
- Engagement and attendance: Board met four times in FY2024 and four times in FY2023; each Trustee attended at least 75% of Board and applicable committee meetings in those years .
- Shareholder meeting attendance: Trustees are not expected to attend the annual meeting; no Trustee attended the May 13, 2024 annual meeting .
- Fund Complex oversight: Oversees 17 portfolios in the Gabelli Fund Complex .
Board Meetings & Attendance
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Board meetings held (#) | 4 | 4 |
| Enright attendance (threshold) | ≥75% of Board and committee meetings | ≥75% of Board and committee meetings |
| Audit Committee meetings (#) | 2 | 2 |
Fixed Compensation
- Structure: Annual Trustee retainer of $3,000; $1,000 per Board meeting; Committee meeting fees of $500; Audit Committee Chair fee of $3,000; Nominating Committee Chair fee of $2,000; Lead Independent Trustee fee of $2,000. Trustees not employed by the Adviser are reimbursed for out-of-pocket expenses .
Director Compensation Structure (Fund-level)
| Component | Amount |
|---|---|
| Annual retainer (Trustee) | $3,000 |
| Board meeting fee (per meeting) | $1,000 |
| Committee meeting fee (per meeting) | $500 |
| Audit Committee Chair annual fee | $3,000 |
| Nominating Committee Chair annual fee | $2,000 |
| Lead Independent Trustee annual fee | $2,000 |
Enright – Actual Compensation
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Aggregate compensation from GNT | $8,000 | $8,000 |
| Aggregate compensation from Fund Complex | $218,263 | $217,637 |
Performance Compensation
- The Fund does not disclose any performance-based compensation (bonuses, PSUs/RSUs, options, or performance metrics) for Trustees; compensation is cash-based via retainers and meeting fees .
| Performance-linked Item | FY 2023 | FY 2024 |
|---|---|---|
| Bonus | None disclosed | None disclosed |
| Stock awards (RSUs/PSUs) | None disclosed | None disclosed |
| Option awards | None disclosed | None disclosed |
| Disclosed performance metrics | None disclosed | None disclosed |
Other Directorships & Interlocks
| Company | Relationship to GNT/Adviser | Role/Committee |
|---|---|---|
| Echo Therapeutics, Inc. | No disclosed interlock with GNT Adviser | Director; Chair Comp; Member Audit |
| The LGL Group, Inc. | No disclosed interlock with GNT Adviser | Director |
| Unspecified pharma company | Not disclosed | Director |
| Unspecified diversified manufacturing | Not disclosed | Director |
No beneficial interests are disclosed for Mr. Enright (or immediate family) in entities under common control with the Adviser, unlike certain other Trustees, which reduces related-party exposure risk .
Expertise & Qualifications
- Former public company CFO (KeySpan) with oversight of finance, accounting, and audit matters; prior service on audit and compensation committees in public companies .
- Education includes Fordham University (BA) and Harvard AMP, supporting governance and financial oversight roles .
- Certified as financially literate for Audit Committee service; Audit Committee has designated financial expert (Heitmann), with Enright serving as a member .
Equity Ownership
- Beneficial ownership: 0 shares of GNT common; percent of class <1% .
- Dollar range in GNT: A (None) for both 2023 and 2024; Aggregate dollar range across the Family of Investment Companies: E (Over $100,000) .
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| GNT shares owned (Common) | 0 | 0 |
| Ownership as % of outstanding | <1% | <1% |
| Dollar range in GNT | A (None) | A (None) |
| Aggregate dollar range in Fund Complex | E (Over $100,000) | E (Over $100,000) |
Governance Assessment
- Strengths: Independent status; long tenure since 2008; prior CFO experience enhances Audit Committee effectiveness; active leadership as Chair of the ad hoc Proxy Voting Committee; consistent meeting attendance ≥75% in FY2023–FY2024; no disclosed related-party holdings under common control with the Adviser .
- Alignment concerns: No GNT share ownership (Dollar Range A), which weakens “skin-in-the-game” alignment compared to best-practice governance norms for directors; Trustees generally did not attend the annual shareholder meeting, which may be viewed as lower visible engagement with retail investors though consistent with Fund practice .
- Compensation quality: Pure cash-based retainers and meeting fees; no equity grants, options, or performance metrics—limits pay-for-performance alignment but reduces complex incentive structures that could introduce conflicts .
- Contextual governance environment: Activist presence (e.g., Saba Capital Management held ~11.2% of common as of 2025 record date), and control share statute disclosures suggest ongoing sensitivity to shareholder influence dynamics; these are Fund-level signals rather than Enright-specific, but they frame board effectiveness expectations .
Red Flags
- Zero beneficial ownership of GNT shares (Dollar Range A) .
- No director equity-based compensation or performance linkage (structural; may be viewed negatively for alignment) .
- Non-attendance at annual shareholder meeting (Fund practice; may be perceived as low investor-facing engagement) .
Additional Notes
- Audit Committee met twice in each of FY2023 and FY2024 and recommended inclusion of audited financials; independence of PwC affirmed; no non-audit services to Adviser/Covered Service Providers in FY2023–FY2024, supporting audit quality oversight .
- Section 16(a) compliance: Fund reports compliance in FY2023; in FY2024, one late Form 4 by Mr. Gabelli (not Enright) was noted—no compliance issues cited for Enright .