Vincent D. Enright
About Vincent D. Enright
Independent Trustee of The Gabelli Utility Trust since 1999; born 1943; former Senior Vice President and Chief Financial Officer of KeySpan Corp. (public utility) from 1994–1998; designated Audit Committee Financial Expert; oversees 17 portfolios in the Gabelli Fund Complex; education includes a Bachelor’s from Fordham University and completion of Harvard’s Advanced Management Program .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| KeySpan Corp. (public utility) | Senior Vice President & Chief Financial Officer | 1994–1998 | Executive responsibility for finance; utility-sector expertise |
| Echo Therapeutics, Inc. | Director | 2008–2014 | Chairman of Compensation Committee; member of Audit Committee |
| The LGL Group, Inc. (diversified manufacturing) | Director | 2011–2014 | Board oversight at diversified manufacturer |
External Roles
- Serves on comparable or other board committees across other funds in the Gabelli Fund Complex, contributing audit and nominating expertise; specific fund lists not enumerated in the proxy .
Board Governance
| Governance Area | Details |
|---|---|
| Independence | Independent Trustee under the Investment Company Act of 1940 |
| Committee Assignments | Audit Committee Chair; designated Audit Committee Financial Expert; member of Nominating Committee; member of both multi‑fund ad hoc Compensation Committees |
| Audit Committee Activity | Audit Committee met 2 times in FY2024; Enright chairs and signed the report (Feb 6, 2025) |
| Nominating Committee Activity | Nominating Committee met 1 time in FY2024 (Enright member) |
| Board Meetings & Attendance | Board met 4 times in FY2024; each Trustee attended at least 75% of Board and applicable committee meetings |
| Annual Meeting Attendance | Fund does not expect Trustees to attend; no Trustees attended the May 13, 2024 annual meeting |
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual retainer (Independent Trustees) | $6,000 | Paid by Fund |
| Board meeting fee | $1,500 per meeting | Paid by Fund |
| Committee meeting fee | $1,000 per meeting | Paid by Fund |
| Audit Committee Chair fee | $3,000 annual | Paid by Fund; Enright receives this |
| Nominating Chair fee | $2,000 annual | Not applicable to Enright (member, not Chair) |
| Lead Independent Trustee fee | $2,000 annual | Not applicable to Enright |
| Annual Compensation | FY2023 | FY2024 |
|---|---|---|
| Aggregate Compensation from GUT (Fund) | $17,500 | $17,000 |
| Aggregate Compensation from Fund Complex | $218,263 (17 funds/portfolios) | $217,637 (17 funds/portfolios) |
Performance Compensation
| Metric Type | Disclosure |
|---|---|
| Performance-based cash/equity | None disclosed for Independent Trustees; compensation consists of fixed retainers and meeting/chair fees |
Other Directorships & Interlocks
| Company | Role | Tenure | Sector/Notes |
|---|---|---|---|
| Echo Therapeutics, Inc. | Director; Chair of Compensation; Audit member | 2008–2014 | Therapeutics/diagnostics; compensation governance role |
| The LGL Group, Inc. | Director | 2011–2014 | Diversified manufacturing |
Note: Michael J. Ferrantino (current GUT Trustee) is CEO and Director of The LGL Group; Enright’s LGL directorship ended in 2014, so no current interlock at LGL is indicated .
Expertise & Qualifications
- Finance leadership: Former CFO at KeySpan (public utility), directly relevant to GUT’s utility focus .
- Audit oversight: Audit Committee Chair; designated Audit Committee Financial Expert; financially literate as determined by Board .
- Corporate governance: Service on nominating and compensation committees across funds; prior chair role at Echo Therapeutics’ Compensation Committee .
- Education: Bachelor’s degree (Fordham University); Harvard Advanced Management Program .
Equity Ownership
| Measure | As of Dec 31, 2024 | Notes |
|---|---|---|
| GUT shares owned | 0 | Beneficial ownership per Rule 13d‑3 |
| % of GUT shares outstanding | <1% (asterisk denoted) | Aggregate Trustees/executives held 1.7% of Common Shares |
| Dollar range in GUT | A = None | Fund‑level holdings dollar range |
| Aggregate dollar range in Fund Complex | E = Over $100,000 | Across Gabelli Fund Complex funds |
Governance Assessment
-
Positives:
- Strong audit leadership as Chair and designated financial expert; consistent committee activity and formal charter adherence; Audit Committee pre‑approves auditor services and reports oversight consensus .
- Independence affirmed under the 1940 Act; no disclosed related‑party interests for Enright with Adviser‑controlled affiliates, unlike certain other Trustees listed in related interests table .
- Attendance threshold met (≥75%) for Board and committees in FY2024; active on Nominating and multi‑fund compensation committees .
-
Watch items / RED FLAGS:
- No GUT share ownership (Dollar Range “A = None” and 0 shares) may signal limited direct alignment with GUT’s common shareholders, despite >$100k aggregate holdings across the fund complex .
- Trustees did not attend the 2024 annual shareholder meeting; while typical for this Fund, investors may prefer visible shareholder‑facing engagement by audit chairs .
- Historical association with LGL Group (past directorship) overlaps with another Trustee’s current executive role at LGL; no current interlock, but network linkage warrants periodic monitoring for potential perceived conflicts across the Fund Complex .
-
Compensation structure signals:
- Cash‑only structure with modest chair and meeting fees; YoY decrease in Fund‑level compensation ($17,500 → $17,000) corresponds with fewer nominating committee meetings in 2024 vs. 2023, consistent with meeting‑based fee mechanics .
- No performance‑linked pay or equity awards disclosed for Independent Trustees, aligning with best practice for board independence in closed‑end funds .