Rajeev Das
About Rajeev Das
Vice President of Special Opportunities Fund, Inc. (SPE) since October 2009; birthyear 1968; role renewed annually (term of office “1 year; since 2009”). He is a Principal of the Fund’s Adviser (Bulldog Investors, LLP) and of Ryan Heritage, LLP, indicating deep alignment with the external adviser that drives the Fund’s investment strategy . Education is not disclosed. SPE does not disclose officer compensation programs or pay-for-performance metrics tied to TSR, revenue, or EBITDA; officers who are “interested persons” either receive no compensation from the Fund or are compensated with amounts deducted from the advisory fee, and the Fund has no bonus, pension, or retirement plans . Directors and officers as a group beneficially owned 1.13% of common stock as of October 20, 2025, underscoring relatively modest insider ownership at the entity level .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Special Opportunities Fund, Inc. | Vice President | 2009–present | Executive leadership for a closed-end fund; liaison with Adviser; governance and oversight of Fund operations |
| Bulldog Investors, LLP (Adviser to SPE) | Principal | Not disclosed | Advisory leadership; investment and operations oversight for SPE and related funds |
| Ryan Heritage, LLP | Principal | Not disclosed | Registered investment adviser role, contributing to portfolio management processes across fund complex |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Bulldog Investors, LLP | Principal | Not disclosed | Adviser-level control and influence on strategy for SPE and associated vehicles |
| Ryan Heritage, LLP | Principal | Not disclosed | Advisory capacity impacting investment decision-making and compliance across fund complex |
Fixed Compensation
- SPE does not have a standing compensation committee and does not maintain bonus, profit sharing, pension, or retirement plans .
- Officers who are “interested persons” of the Adviser either: (i) do not receive compensation from the Fund; or (ii) receive compensation from the Fund for such services and the amount is deducted from the advisory fee paid to the Adviser .
- Base salary, target bonus %, and actual bonus paid for Rajeev Das are not disclosed in the proxy; equity award programs (RSUs/PSUs) are not disclosed for officers .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — |
SPE does not disclose officer performance metrics (e.g., TSR, revenue growth, EBITDA) or incentive payout formulas for officers .
Equity Ownership & Alignment
- Ownership, dollar range (SPE common): $10,001–$50,000 as of October 20, 2025 ; $10,001–$50,000 as of October 4, 2024 .
- Directors and officers, group ownership: 1.13% of common and <1% of preferred as of October 20, 2025 .
- Stock ownership guidelines, pledging, hedging policies for officers are not disclosed; the Fund and Adviser maintain codes of ethics governing personal trading .
| Item | As-of Date | Detail |
|---|---|---|
| Dollar Range of SPE Equity Owned | Oct 20, 2025 | $10,001–$50,000 |
| Dollar Range of SPE Equity Owned | Oct 4, 2024 | $10,001–$50,000 |
| Directors & Officers Group Ownership (Common) | Oct 20, 2025 | 1.13% |
| Codes of Ethics | Current | Personal trading procedures under Rule 17j-1 and Advisers Act; no pledging disclosure for officers |
Insider Trading and Selling Pressure (Form 4 history, SPE)
| Filing Date | Transaction Date | Type | Shares | Price | Post-Transaction Ownership | Notes |
|---|---|---|---|---|---|---|
| Apr 8, 2022 | Apr 5, 2022 | Sale to issuer (tender) | 513 | $15.69 | 2,580 | Filed to report sale pursuant to issuer tender; late filing noted in 2023 proxy |
| Apr 14, 2015 | Jan 16, 2015 | Acquisition | 271 | $15.39 | 3,100 | Ownership increased via acquisition |
| Feb 18, 2014 | Jan 24, 2014 | Acquisition | 325 | $16.90 | 2,830 | Ownership increased via acquisition |
| Dec 27, 2012 | Dec 26, 2012 | Purchase | 2,500 | $14.97 | 2,500 | Open market purchase |
| Jan 26, 2010 | Jan 22, 2010 | Sale | 28,520 | $14.18 | — | Disposition of prior holdings |
| Sep 14, 2009 | — | Form 3 | — | — | 28,520 | Initial beneficial ownership reported |
The 2023 SPE proxy explicitly notes a “Form 4 filed by Rajeev Das to report the sale of shares pursuant to an issuer tender offer on April 5, 2022,” and that it was filed late due to administrative error .
Employment Terms
| Term | Disclosure |
|---|---|
| Title | Vice President |
| Term Length | 1-year term; serving since 2009 |
| Employment Agreement | Not disclosed |
| Severance | Not disclosed; no officer severance plan disclosed |
| Change-in-Control | Not disclosed |
| Clawbacks | Compensation clawback terms not disclosed; Codes of Ethics govern personal investments |
| Non-compete / Non-solicit | Not disclosed |
Investment Implications
- Pay-for-performance alignment: SPE does not disclose an officer incentive framework; officers who are “interested persons” may be compensated via advisory structures rather than directly by the Fund, limiting visibility into targets, weightings, and payouts and reducing direct pay-to-TSR alignment signals .
- Selling pressure: Limited insider trading activity; a modest sale in April 2022 was tied to an issuer tender offer (corporate action), not open-market selling, and does not signal acute selling pressure; recent ownership is within the $10,001–$50,000 dollar range, suggesting limited “skin in the game” by public-company standards .
- Retention risk: As a long-tenured officer (since 2009) and Principal at the Adviser and Ryan Heritage, LLP, Das’s role appears embedded within the adviser-led governance model; absence of disclosed severance/change-in-control terms suggests typical closed-end fund officer arrangements rather than bespoke employment economics .
- Governance and oversight: The Board does not have a standing compensation committee and relies on adviser relationships; codes of ethics are in place for personal trading. For investors, executive-specific red flags (repricing, golden parachutes, tax gross-ups, pledging) are not disclosed in the proxy, which reduces headline risk but also limits transparency into incentive design .
Overall, Rajeev Das’s disclosed alignment is primarily via modest personal holdings and his principal roles at the Adviser. With no direct officer compensation or performance pay disclosure at the Fund level, traditional executive trading and compensation signals are muted; monitoring future Form 4 filings and Board disclosures remains the most actionable path for detecting changes in alignment or potential selling pressure .