Vincent D. Enright
About Vincent D. Enright
Vincent D. Enright (born 1943) is an Independent Trustee of The Gabelli Healthcare & WellnessRx Trust (GRX), serving since the Fund’s organizational meeting in 2007; he is one of two Trustees elected solely by holders of the Fund’s Preferred Shares and his current term runs until the 2026 Annual Meeting of Shareholders . He is Chairman of the Audit Committee and designated as the Fund’s Audit Committee Financial Expert; he also chairs the Nominating Committee and the ad hoc Proxy Voting Committee, and serves on multi‑fund ad hoc Compensation Committees, reflecting deep financial oversight expertise and governance responsibilities . Enright 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) | Senior Vice President & Chief Financial Officer | 1994–1998 | Senior executive experience; core finance leadership |
| Echo Therapeutics, Inc. (therapeutics/diagnostics) | Director | 2008–2014 | Chairman of compensation committee; member of audit committee |
| The LGL Group, Inc. (diversified manufacturing) | Director | 2011–2014 | Board oversight; manufacturing exposure |
External Roles
| Organization | Role | Status/Years | Notes |
|---|---|---|---|
| Other public company boards (past 5 years) | — | None disclosed | Proxy lists prior roles; no current external public boards named for past 5 years |
| Other Gabelli fund boards | Trustee/Committee roles | Ongoing | Serves on comparable committees across Gabelli Fund Complex funds |
Board Governance
- Election and tenure: Elected solely by Preferred Shareholders; term through 2026 Annual Meeting; not standing for election in 2025 .
- Independence: Classified as an Independent Trustee under 1940 Act; no interest in Adviser or affiliated persons as of 12/31/2024 (possible exceptions as described in proxy not attributed to Enright) .
- Committee leadership: Chair of Audit Committee; Audit Committee Financial Expert; Chair of Nominating Committee; Chair of ad hoc Proxy Voting Committee; member of multi‑fund ad hoc Compensation Committees .
- Committee activity: Audit Committee met two times in fiscal 2024; Nominating Committee met once in fiscal 2024; Audit Charter last reviewed/approved Feb 13, 2025 .
- Attendance: In fiscal 2024, the Board met four times; all Trustees then serving attended at least 75% of Board and applicable committee meetings. In fiscal 2023, the Board met five times (four regular, one special), with at least 75% attendance for all Trustees .
- Annual meeting attendance: Trustees/nominees are not expected to attend the shareholder meeting; none attended the May 13, 2024 meeting .
- Board structure: No Chairman; Lead Independent Trustee is James P. Conn, who also serves on GRX committees; independent trustees chair all committees .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual retainer (Independent and certain Interested Trustees) | $3,000 | Plus $1,000 per Board meeting attended |
| Committee meeting fee | $500 per meeting | All Board committee members |
| Audit Committee Chair fee | $3,000 annually | Enright is Chair |
| Nominating Committee Chair fee | $2,000 annually | Enright is Chair |
| Lead Independent Trustee fee | $1,000 annually | Paid to Lead Independent (Conn) |
| Fiscal Year | Aggregate Compensation from GRX | Aggregate Compensation from Fund Complex (number of funds) |
|---|---|---|
| 2024 | $13,000 | $217,637 (17) |
| 2023 | $12,263 | $218,263 (17) |
Performance Compensation
- Equity awards, options, performance units: None disclosed for Trustees; compensation structure is cash retainers/meeting and chair fees (no RSUs/PSUs/options reported) .
- Performance metrics tied to pay: None disclosed for Trustees .
| Metric Category | Details |
|---|---|
| Equity grants (RSUs/PSUs) | Not disclosed/none for Trustees |
| Option awards | Not disclosed/none for Trustees |
| Performance KPIs (e.g., TSR/EBITDA) | Not disclosed for Trustee compensation |
| Clawbacks/COC provisions for directors | Not disclosed for Trustees |
Other Directorships & Interlocks
| Company | Role | Years | Potential Interlock/Notes |
|---|---|---|---|
| Echo Therapeutics, Inc. | Director | 2008–2014 | Chaired comp committee; audit committee member |
| The LGL Group, Inc. | Director | 2011–2014 | Diversified manufacturing exposure |
- Advisory complex ties: Enright serves on comparable committees across funds in the Gabelli Fund Complex, but proxy discloses no personal economic ties to Adviser affiliates for Enright specifically .
Expertise & Qualifications
- Financial expertise: Designated Audit Committee Financial Expert under Regulation S‑K 407(d)(5); Chair of Audit Committee .
- Senior finance experience: Former SVP & CFO of KeySpan Corp., providing utility/regulated industry finance background .
- Board leadership: Chaired compensation committee at Echo Therapeutics; audit committee membership experience .
- Education: Bachelor’s degree from Fordham University; Harvard Advanced Management Program .
Equity Ownership
| Holder | Common Shares | Preferred Shares | % of Class |
|---|---|---|---|
| Vincent D. Enright | 0 | — | Less than 1% (asterisk indicates <1%) |
| Dollar Range (GRX) | Aggregate Dollar Range (Fund Complex) |
|---|---|
| A. None | E. Over $100,000 (complex-wide) |
- Ownership alignment note: Enright reported no GRX common share ownership as of 12/31/2024; aggregate holdings across the Fund Complex fall in the “Over $100,000” range .
Governance Assessment
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Strengths
- Deep audit oversight: Chair of Audit Committee; designated Financial Expert; Audit Charter updated Feb 13, 2025; committee met twice in FY 2024, indicating active oversight cadence .
- Governance leadership: Chairs Nominating and ad hoc Proxy Voting Committees; participates in multi-fund compensation oversight, signaling broad governance involvement .
- Independence and attendance: Classified Independent; at least 75% attendance at Board and committee meetings in FY 2024 and FY 2023 .
-
Potential Alignment Risks / RED FLAGS
- Zero share ownership in GRX as of 12/31/2024, which may signal lower “skin‑in‑the‑game” alignment for common shareholders (dollar range for GRX reported as “A. None”) .
- Accountability dynamic: As a Trustee elected solely by Preferred Shareholders, his principal electoral constituency differs from common shareholders, which may influence oversight priorities in contested or capital structure‑sensitive scenarios .
- Shareholder meeting engagement: Trustees are not expected to attend annual meetings; none attended the May 13, 2024 meeting, limiting direct shareholder interaction opportunities .
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Contextual considerations (Fund‑level governance environment)
- The Fund operates with Delaware Statutory Trust control share acquisition provisions that can limit voting rights above specified thresholds unless exempted or approved; while not director‑specific, this framework can affect shareholder dynamics and perceptions of entrenchment .