Agnes Mullady

About Agnes Mullady

Agnes Mullady (born 1958) has served as a Trustee of The Gabelli Healthcare & WellnessRx Trust (GRX) since March 25, 2021; her current term continues until the 2026 Annual Meeting. She is designated an “interested person” under the 1940 Act due to her direct/indirect beneficial interest in the Adviser and prior business/professional relationship with the Fund and its Adviser. She previously held senior roles across the Gabelli/GAMCO complex and earlier served at U.S. Trust Company and as Treasurer/CFO of the Excelsior Funds; she holds an MBA in Finance from New York Institute of Technology and a BA in Accounting from Queens College .

Past Roles

External Roles

Board Governance

• Status: Interested Trustee (not independent) owing to beneficial interest and prior relationship with Adviser .
• Years of Service: Trustee since March 25, 2021; term continues until 2026 Annual Meeting .
• Committee Assignments: Audit Committee and Nominating Committee members are Independent Trustees (Enright – Chair; Conn; Zizza); Independent Trustees chair all committees. Mullady is not listed as a member of these committees or the ad hoc committees in GRX’s proxy .
• Board Attendance: In FY2024, the Board met 4 times and each Trustee then serving attended at least 75% of Board and committee meetings; similar disclosure in prior years . The Fund does not expect Trustees to attend the shareholder meeting; none attended the May 13, 2024 annual meeting .
• Oversight Breadth: Oversees 14 portfolios in the Gabelli Fund Complex .

Fixed Compensation

Fee policy (from latest proxy disclosures):

• Annual cash retainer (Independent and certain Interested Trustees): $3,000
• Per Board meeting fee: $1,000
• Committee meeting fee (members): $500 per meeting
• Chair fees: Audit Chair $3,000; Nominating Chair $2,000; Lead Independent $1,000

Performance Compensation

No performance-contingent pay elements are described for Trustees; compensation presentation consists of cash retainers/meeting fees and aggregate amounts in GRX and across the Fund Complex .

Other Directorships & Interlocks

Expertise & Qualifications

• Fund administration and operations leadership as President/COO of Gabelli Funds’ Fund Division (2010–2019) .
• Distribution and client servicing leadership as CEO of G.distributors (2011–2019) .
• Senior corporate experience at GAMCO Investors (2009–2019) and Associated Capital Group (2016–2019) .
• Prior institutional finance roles at U.S. Trust; fund finance as Treasurer/CFO of Excelsior Funds .
• Education: MBA, Finance (New York Institute of Technology); BA, Accounting (Queens College) .

Equity Ownership

Beneficial ownership as of December 31, 2024, determined per Rule 13d-3 of the 1934 Act .

Governance Assessment

• Independence and conflicts: Mullady is expressly designated an “interested person” of GRX due to beneficial interest and prior ties to the Adviser; she is also a director of GAMCO Investors, Inc., the Adviser’s parent—an interlock that increases perceived conflict risk for fund oversight, especially in areas like advisory fees, valuations, or proxy voting .
• Committee effectiveness: Key committees (Audit, Nominating) are chaired and staffed by Independent Trustees, and Mullady is not on these committees; this structure mitigates some conflict concerns but limits her direct role in core governance functions .
• Engagement signals: Board attendance meets the disclosed ≥75% threshold, but the Fund states it does not expect Trustees to attend shareholder meetings and discloses zero attendance at the 2024 annual meeting—potentially negative for shareholder engagement optics in contested or activist environments .
• Ownership alignment: Mullady’s personal GRX stake is small (150 shares; Dollar Range “B”), implying limited direct economic exposure; alignment is more through complex-wide exposure (Aggregate Dollar Range “E”) rather than GRX-specific skin-in-the-game .
• Compensation structure: Cash-based, low-dollar retainers and meeting fees reflect closed-end fund norms; absence of equity or performance-linked elements for Trustees suggests limited direct pay-for-performance incentives but reduces remuneration-related conflicts .

RED FLAGS

• Interested status and Adviser interlock (director of GAMCO Investors, Inc.) heighten conflict-of-interest risk in oversight of the Adviser and affiliated service providers .
• No Trustee attendance at annual shareholder meeting (2024), and stated expectation not to attend, can signal weak shareholder-facing accountability norms .
• Minimal GRX-specific equity ownership (150 shares, <1%) reduces direct alignment with common shareholders in this vehicle .