David I. Schachter
About David I. Schachter
Vice President of The Gabelli Healthcare & WellnessRx Trust (GRX), born in 1953, serving since 2007; he also serves across the Gabelli closed‑end fund complex and is Senior Vice President of G.research, LLC since 2015 . Schachter joined Gabelli in 1998 after a career focused on closed‑end funds at Thomas J. Herzfeld Advisors, Smith Barney, Drexel Burnham, and Laidlaw Adams & Peck; he holds a BA from Queens College and an MA from New York University . Fund‑level operating metrics (revenue/EBITDA) are not applicable to a closed‑end fund officer, and GRX does not disclose TSR tied to his role; portfolio performance is overseen by portfolio managers and trustees rather than the Vice President position .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Laidlaw, Adams & Peck | Registered Representative | 1978 onward (early career) | Began Wall Street career; initiated closed‑end fund focus |
| Drexel Burnham | Registered Representative/Closed‑end fund focus | Pre‑1994 | Deepened coverage of closed‑end funds and industry participants |
| Smith Barney (New York) | Specialized in closed‑end funds | Prior to 1994 | Specialized sales/analysis of closed‑end funds; industry relationships |
| Thomas J. Herzfeld Advisors | Writer/Analyst; contributed to “The Investor’s Guide to Closed‑End Funds” | 1994–1998 | Sector thought leadership; attended fund annual meetings; engagement with managers/activists |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Gabelli Fund Complex (Closed‑End Funds) | Vice President and/or Ombudsman | Since 2007 | Investor relations, shareholder communications across Gabelli CEFs |
| G.research, LLC | Senior Vice President | Since 2015 | Sell‑side/issuer liaison functions supporting fund complex |
| Gabelli Utility Trust; Gabelli Global Utility & Income Trust; other Gabelli CEFs | Vice President &/or Ombudsman (multiple funds) | Various (ongoing) | Cross‑fund governance/IR continuity within complex |
| Media (CNBC, CNN) | Commentator on closed‑end funds | Not disclosed | Public education, visibility of closed‑end fund strategies |
| Credential | NASD representative | Not disclosed | Regulatory registration credential |
Fixed Compensation
- GRX’s proxy discloses trustee fees and, where applicable, fund‑paid officer compensation; Bethany A. Uhlein (VP & Ombudsman) received $75,622 in FY2024, but no compensation is disclosed for David I. Schachter—indicating he is not paid directly by the Fund (compensation generally flows via the Adviser) .
- Base salary, bonus targets/actuals, and perquisites for Schachter are not disclosed in GRX filings; skip.
Performance Compensation
- GRX does not disclose RSUs/PSUs, options, performance metrics, or vesting schedules for Schachter; skip.
Equity Ownership & Alignment
- Beneficial ownership tables in the 2025 proxy list trustees and certain officers; Schachter is not listed with reportable GRX holdings, and no share pledging or hedging disclosures are made for him .
- Section 16(a) reporting compliance for insiders was affirmed for FY2024; no delinquent filings noted .
Employment Terms
- Employment agreements, severance, change‑of‑control, non‑compete/solicit, garden leave, consulting arrangements, clawbacks, or ownership guidelines for Schachter are not disclosed by GRX; skip.
Investment Implications
- Compensation alignment: Absence of fund‑paid compensation disclosures or equity awards for Schachter suggests limited direct pay‑for‑performance signal for this officer; governance and portfolio outcomes are primarily driven by trustees, portfolio managers, and the adviser .
- Retention risk: Long tenure (Vice President since 2007) and broader Gabelli complex responsibilities (joined in 1998; SVP at G.research since 2015) indicate organizational continuity and low near‑term retention risk .
- Insider selling pressure: No reported GRX holdings or vesting schedules for Schachter; fund noted full Section 16 compliance, implying low near‑term selling pressure risk tied to his account .
- Trading signals and governance context:
- Activist ownership: Saba Capital disclosed 13.3% of GRX common shares as of 6/30/2025, signaling potential corporate governance and discount‑to‑NAV catalysts around meetings and policies .
- Preferred control dynamics: Gabelli affiliates and related entities collectively hold a majority of GRX preferred shares, shaping governance outcomes for preferred elections and potentially affecting capital structure actions .
- Control share statute: GRX is subject to Delaware Statutory Trust control share provisions, constraining voting rights at specified thresholds unless approved; the Board has exempted acquisitions of preferred directly from the Fund/distributors, which may influence activist strategies and meeting outcomes .
Net: Schachter’s role is investor‑relations/governance support across Gabelli closed‑end funds; material trading and compensation levers for GRX are more closely tied to activist dynamics (e.g., Saba), preferred shareholder concentration by Gabelli affiliates, and Board/manager actions than to Schachter’s individual incentives –.
Sources
- GRX DEF 14A (2025): Officers, roles, tenure, governance and ownership tables .
- Gabelli team bio: Education, career history (Herzfeld, Smith Barney, Drexel, Laidlaw), media, credentials .
- MarketScreener: Cross‑fund roles within Gabelli complex .
- Activist filing: Saba Capital Schedule 13D/A (GRX common) .
- GRX Annual/Semiannual materials (supportive officer listings): SEC N‑CSR/N‑CSRS and Annual Report references .