DAVID GALE

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FLAHERTY & CRUMRINE PREFERRED & INCOME FUND INC

Filing Date Source Excerpt
2002-02-08 DAVID GALE Director Class I Director President & CEO 2 Director, Stone Container Age: 52 ... Each Board of Directors has an Audit Committee composed entirely of each Fund's independent Directors: Messrs. Brody, Gale, Gust and Wulf. ... Each Board of Directors of the Funds has a Nominating Committee composed entirely of each Fund's independent Directors: Messrs. Brody, Gale, Gust and Wulf. ... DAVID GALE $13,400 - PFD $26,800 (2) Director $13,400 - PFO
2003-02-21 DAVID GALE Director Class I Director President and CEO 3 -- Delta Dividend Group, Inc. PFD - since 1997 of Delta Dividend 220 Montgomery Street, PFO - since 1997 Group, Inc. Suite 426 (investments) San Francisco, CA 94104 Age: 54 Each Board of Directors has an Audit Committee composed entirely of each Fund's independent Directors: Messrs. Brody, Gale, Gust and Wulf. Each Board of Directors has a Nominating Committee composed entirely of each Fund's independent Directors: Messrs. Brody, Gale, Gust and Wulf. The following table sets forth certain information regarding the compensation of each Fund's Directors for the fiscal year ended November 30, 2002. DAVID GALE $13,600 - PFD $27,100 (2) Director $13,500 - PFO
2005-02-17 DAVID GALE Director Class I Director President and CEO of 4 Director, Metromedia International Group, Inc. (telecommunications); Director, Flaherty & Crumrine/Claymore Preferred Securities Income Fund Incorporated and Flaherty & Crumrine/Claymore Total Return Fund Incorporated Each Director of each Fund who is not a director, officer or employee of Flaherty & Crumrine or any of their affiliates receives a fee of $9,000 per annum plus $500 for each in-person meeting attended, and $150 for each telephone meeting attended. In addition, the Audit Committee Chairman receives an annual fee per Fund of $2,500. DAVID GALE $15,600 - PFD $61,650(4) Director $15,600 - PFO
2006-02-21 David Gale Director Class I Director President and CEO 4 Metromedia Delta Dividend Group, Inc. PFD - since 1997 of Delta Dividend International Group, Inc. 220 Montgomery Street, PFO - since 1997 Group, Inc. (telecommunications); Suite 426 (investments) Flaherty & San Francisco, CA 94104 Crumrine/Claymore Age: 56 Preferred Securities Income Fund Incorporated and Flaherty & Crumrine/ Claymore Total Return Fund Incorporated AUDIT COMMITTEE REPORT The members of the Audit Committee are not, and do not represent themselves to be, professionally engaged in the practice of auditing or accounting and are not employed by each Fund for accounting, financial management or internal control. Moreover, the Audit Committee relies on and makes no independent verification of the facts presented to it or representations made by management or the independent accountants. Accordingly, the Audit Committee's oversight does not provide an independent basis to determine that management has maintained appropriate accounting and financial reporting principles and policies, or internal controls and procedures, designed to assure compliance with accounting standards and applicable laws and regulations. Furthermore, the Audit Committee's considerations and discussions referred to above do not provide assurance that the audit of each Fund's financial statements has been carried out in accordance with generally accepted accounting standards or that the financial statements are presented in accordance with generally accepted accounting principles. Based on its consideration of the audited financial statements and the discussions referred to above with management and the independent accountants, and subject to the limitations on the responsibilities and role of the Audit Committee set forth in the Charter and those discussed above, the Audit Committee of each Fund recommended to the Board of Directors of each Fund that the audited financial statements be included in each Fund's Annual Report for the fiscal year ended November 30, 2005. THIS REPORT WAS SUBMITTED BY THE AUDIT COMMITTEE OF EACH FUND'S BOARD OF DIRECTORS David Gale Morgan Gust Karen H. Hogan Robert Wulf (Chairman) January 27, 2006 Each Audit Committee met four times in connection with its Board of Directors regularly scheduled meetings during the fiscal year ended November 30, 2005. Each Audit Committee is composed entirely of each Fund's independent (as such term is defined by the New York Stock Exchange, Inc.'s listing standards applicable to closed-end funds (the "NYSE Listing Standards")) Directors, namely Ms. Hogan and Messrs. Gale, Gust and Wulf. NOMINATING COMMITTEE Each Board of Directors has a Nominating Committee composed entirely of each Fund's independent (as such term is defined by the NYSE Listing Standards) Directors, namely Ms. Hogan and Messrs. Gale, Gust and Wulf. The Nominating Committee of each Fund met twice during the fiscal year ended November 30, 2005. The Nominating Committee is responsible for identifying individuals believed to be qualified to become Board members and for recommending to the Board of Directors such nominees to stand for election as directors at each Fund's annual meeting of shareholders, and to fill any vacancies on the Board. Each Fund's Nominating Committee has a charter which is available on the Funds' website (www.preferredincome.com).
2007-02-16 DAVID GALE Director Class I Director President and CEO 4 Metromedia Delta Dividend Group, Inc. PFD - since 1997 of Delta Dividend International Group, Inc. 220 Montgomery Street, PFO - since 1997 Group, Inc. (telecommunications); Suite 426 (investments) Flaherty & San Francisco, CA 94104 Crumrine/Claymore Age: 57 P3referred Securities Income Fund Incorporated and Flaherty & Crumrine/ Claymore Total Return Fund Incorporated Each Fund's Audit Committee is composed entirely of each Fund's independent (as such term is defined by the New York Stock Exchange, Inc.'s listing standards applicable to closed-end funds, as may be modified or supplemented (the "NYSE Listing Standards")) Directors, namely Ms. Hogan and Messrs. Gale, Gust and Wulf. NOMINATING COMMITTEE Each Board of Directors has a Nominating Committee composed entirely of each Fund's independent (as such term is defined by the NYSE Listing Standards) Directors, namely Ms. Hogan and Messrs. Gale, Gust and Wulf. The following table sets forth certain information regarding the compensation of each Fund's Directors for the fiscal year ended November 30, 2006. No executive officer or person affiliated with a Fund received compensation from a Fund during the fiscal year ended November 30, 2006 in excess of $120,000. Directors and executive officers of the Funds do not receive pension or retirement benefits from the Funds. COMPENSATION TABLE NAME OF AGGREGATE TOTAL COMPENSATION FROM PERSON AND FROM EACH FUND THE FUNDS AND FUND POSITION COMPLEX PAID TO DIRECTORS* -------- -------------- -------------------------- DONALD F. CRUMRINE $0 $0 (4) Director, Chairman of the Board and Chief Executive Officer DAVID GALE $14,900 - PFD $59,600(4) Director $14,900 - PFO MORGAN GUST $14,750 - PFD $58,700(4) Director $14,750 - PFO KAREN H. HOGAN $14,900 - PFD $59,300(4) Director $14,900 - PFO ROBERT F. WULF $17,700 - PFD $70,500(4) Director $17,700 - PFO
2008-02-19 DAVID GALE Director CLASS I DIRECTOR President and CEO 4 Metromedia Delta Dividend Group, Inc. PFD - since 1997 PFO - since 1997 FFC - since inception FLC - since inception Age: 58 Each Fund's Audit Committee is also required to prepare an audit committee report pursuant to the rules of the SEC for inclusion in each Fund's annual proxy statement. THIS REPORT WAS SUBMITTED BY THE AUDIT COMMITTEE OF EACH FUND'S BOARD OF DIRECTORS David Gale Morgan Gust Karen H. Hogan Robert F. Wulf (Chairman) January 28, 2008 The Nominating Committee of each Fund met twice during the fiscal year ended November 30, 2007. Each Board of Directors has a Nominating Committee composed entirely of each Fund's Independent Directors, namely Ms. Hogan and Messrs. Gale, Gust and Wulf. The following table sets forth certain information regarding the compensation of each Fund's Directors for the fiscal year ended November 30, 2007. DAVID GALE $14,600 - PFD $58,400(4) Director $14,600 - PFO $14,600 - FFC $14,600 - FLC
2009-02-24 DAVID GALE Director CLASS I DIRECTOR President of 4 None Delta Dividend Group, Inc. PFD - since 1997 Delta Dividend 220 Montgomery Street, PFO - since 1997 Group, Inc. Suite 1920 FFC - since inception (investments) San Francisco, CA 94104 FLC - since inception Age: 59 ... David Gale $ 16,150 - PFD $ 64,300 (4) Director $ 16,300 - PFO $ 16,000 - FFC $ 15,850 - FLC
2010-02-25 David Gale Age: 60 Director Class I Director President of Delta Dividend Group, Inc. (investments) Audit Committee Report lists David Gale as member Nominating Committee composed of Ms. Hogan and Messrs. Gale, Gust and Wulf Compensation Table: $15,200 PFD, $15,350 PFO, $15,050 FFC, $15,200 FLC, total $60,800
2011-02-24 David Gale Delta Dividend Group, Inc. 220 Montgomery Street Suite 426 San Francisco, CA 94104 Age: 61 Director Class I Director PFD since 1997 PFO since 1997 FFC since inception FLC since inception President of Delta Dividend Group, Inc. (investments) 4 Other Public Company Board Memberships Metromedia International Group, Inc. Compensation Table: $16,350 PFD, $16,350 PFO, $16,200 FFC, $16,200 FLC, Total $65,100 Audit Committee Report: David Gale is a member of the Audit Committee. Nominating and Governance Committee: David Gale is a member.
2012-03-06 David Gale - In addition to his tenure as a Director of the Funds, Mr. Gale has been President and Chief Executive Officer of Delta Dividend Group, Inc, a San Francisco-based investment management firm, since 1992. Prior to joining Delta Dividend Group, Inc., Mr. Gale was a Principal with Morgan Stanley from February 1983 to January 1990, and a Managing Director of Lehman Brothers Holdings Inc. from January 1990 to January 1992. Mr. Gale currently serves as a director of Emmis Communications and served as a director of Metromedia International Group, Inc., a telecommunications company from 2005 through August 30, 2008. The members of each Audit Committee are not, and do not represent themselves to be, professionally engaged in the practice of auditing or accounting and are not employed by the Fund for accounting, financial management or internal control. Moreover, the Audit Committee relies on and makes no independent verification of the facts presented to it or representations made by management or the independent accountants. Accordingly, the Audit Committee’s oversight does not provide an independent basis to determine that management has maintained appropriate accounting and financial reporting principles and policies, or internal controls and procedures, designed to assure compliance with accounting standards and applicable laws and regulations. Furthermore, the Audit Committee’s considerations and discussions referred to above do not provide assurance that the audit of each Fund’s financial statements has been carried out in accordance with generally accepted accounting standards or that the financial statements are presented in accordance with generally accepted accounting principles. Based on its consideration of the audited financial statements and the discussions referred to above with management and the independent accountants, and subject to the limitations on the responsibilities and role of the Audit Committee set forth in the Charter and those discussed above, the Audit Committee of each Fund recommended to that Fund’s Board that the audited financial statements be included in the Fund’s Annual Report for the fiscal year ended November 30, 2011. This report was submitted by the Audit Committee of each Fund’s Board of Directors David Gale Morgan Gust Karen H. Hogan Robert F. Wulf (Chairman) January 24, 2012 Each Audit Committee was established in accordance with Section 3(a)(58)(A) of the 1934 Act. Each Audit Committee met four times in connection with its Board of Directors’ regularly scheduled meetings during the fiscal year ended November 30, 2011. Each Audit Committee is composed entirely of each Fund’s Independent (as such term is defined by the New York Stock Exchange (the “NYSE”) listing standards applicable to closed-end funds, as may be modified or supplemented (the “NYSE Listing Standards”)) Directors, namely Ms. Hogan and Messrs. Gale, Gust and Wulf. Each Board of Directors has a Nominating and Governance Committee composed entirely of each Fund’s Independent (as such term is defined by the NYSE Listing Standards) Directors, namely Ms. Hogan and Messrs. Gale, Gust and Wulf. The Nominating and Governance Committee of each Fund met twice during the fiscal year ended November 30, 2011.
2013-03-07 David Gale - Director. Age: 64. President of Delta Dividend Group, Inc. Director of the Funds since 1997. Member of Audit Committee and Nominating and Governance Committee. Total compensation from the Funds and Fund Complex: $66,000.
2014-03-21 David Gale - Director, Class I Director - Age: 64 - President of Delta Dividend Group, Inc. - Audit Committee member - Total compensation $77,351
2015-03-09 David Gale - In addition to his tenure as a Director of the Funds, Mr. Gale has been President and Chief Executive Officer of Delta Dividend Group, Inc., a San Francisco-based investment management firm, since 1992. Prior to joining Delta Dividend Group, Inc., Mr. Gale was a Principal with Morgan Stanley from 1983 to 1990, and a Managing Director of Lehman Brothers Holdings Inc. from 1990 to 1992. Mr. Gale previously served as a director of Emmis Communications.
2016-03-08 David Gale Director Class I Director President of Delta Dividend Group, Inc. (investments) 5 Years Emmis Communications through 2012 Age: 66
2017-03-10 David Gale - Director, Class I Director - Age: 68 - Director of PFD, PFO, FFC, FLC, DFP - Chair of Audit Committee - Compensation: $17,000 per Fund, total $85,000
2018-03-06 David Gale – Director, Class I Director (PFD, PFO, FFC, FLC, DFP), age 69, President of Delta Dividend Group, Inc. Compensation: $16,500 per Fund for fiscal year ended November 30, 2017.
2019-03-12 David Gale, Age: 69, Director, President of Delta Dividend Group, Inc. Compensation: $16,500 per Fund (PFD, PFO, FFC, FLC, DFP) totaling $82,500. Committees: Member of Audit Committee and Nominating Committee.
2021-03-04 David Gale, Age: 71, Director, Class I Director PFD – since 1997, PFO – since 1997, FFC – since inception, FLC – since inception, Class II Director DFP – since inception. President of Delta Dividend Group, Inc. Compensation: $16,500 – PFD, $16,500 – PFO, $16,500 – FFC, $16,500 – FLC, $16,500 – DFP.
2022-03-03 David Gale 301 E. Colorado Boulevard Suite 800 Pasadena, CA 91101 Age: 72 Director Class I Director PFD – since 1997 PFO – since 1997 FFC – since inception FLC – since inception Class II Director DFP – since inception President of Delta Dividend Group, Inc. (investments). 5 None ... Each Director of each Fund who is not a director, officer or employee of Flaherty & Crumrine or any of its affiliates receives from each Fund a fee of $9,000 per annum plus $750 for each in person Board or Audit Committee meeting attended, $500 for each in person Nominating Committee meeting attended, and $250 for each telephone meeting attended. In addition, the Audit Committee Chair receives from each Fund an annual fee of $3,000. ... The aggregate remuneration paid to the Directors of each Fund for the fiscal year ended November 30, 2021 is set forth below: ... David Gale Director $16,500 – PFD $16,500 – PFO $16,500 – FFC $16,500 – FLC $16,500 – DFP $82,500 (5)
2023-03-02 David Gale 301 E. Colorado Boulevard Suite 800 Pasadena, CA 91101 Age: 73 Director Class I Director PFD – since 1997 PFO – since 1997 FFC – since inception FLC – since inception Class II Director DFP – since inception President of Delta Dividend Group, Inc. (investments). 5 None
2024-03-04 David Gale 301 E. Colorado Boulevard Suite 800 Pasadena, CA 91101 Age: 74 Lead Independent Director Class I Director PFD – since 1997 PFO – since 1997 FFC – since inception FLC – since inception Class II Director DFP – since inception President of Delta Dividend Group, Inc. (investments). 5 None The Board of each Fund has appointed David Gale as the Lead Independent Director. The members of each Audit Committee are Ms. Hogan and Messrs. Dalmaso and Gale. The Nominating Committee of each Fund is composed entirely of each Fund’s Independent Directors who are also “independent” (as such term is defined by the NYSE Listing Standards), The Nominating Committee of each Fund met two times during the fiscal year ended November 30, 2023. As of the date of this Joint Proxy Statement, the current members of the Nominating Committee are Ms. Hogan and Messrs. Dalmaso and Gale. $16,500 – PFD $16,500 – PFO $16,500 – FFC $16,500 – FLC $16,500 – DFP $82,500 (5)
2025-03-17 David Gale 301 E. Colorado Boulevard Suite 800 Pasadena, CA 91101 Age: 75 Lead Independent Director President of Delta Dividend Group, Inc. (investments). 5 None

Flaherty & Crumrine PREFERRED & INCOME OPPORTUNITY FUND INC

Filing Date Source Excerpt
2002-02-08 DAVID GALE Director President & CEO of Delta Dividend Group, Inc. (Investments). Director, Stone Container Corporation (packaging), until Dec. 31, 2000; Director Free Real Time.com, until Feb 1, 2001.
2003-02-21 DAVID GALE Director Class I Director President and CEO 3 -- of Delta Dividend Group, Inc. (investments)
2004-02-06 DAVID GALE Director President and CEO of Delta Dividend Group, Inc. (investments)
2005-02-17 David Gale - President and CEO of Delta Dividend Group, Inc. (investments); Director, Metromedia International Group, Inc. (telecommunications); Director, Flaherty & Crumrine/Claymore Preferred Securities Income Fund Incorporated and Flaherty & Crumrine/Claymore Total Return Fund Incorporated.
2006-02-21 David Gale - President and CEO of Delta Dividend Group, Inc.; no indication of software or programming background.
2007-02-16 David Gale - President and CEO of Delta Dividend Group, Inc. (investments)
2008-02-19 David Gale - President and CEO of Delta Dividend Group, Inc. (investments); Director of Metromedia International Group, Inc. (telecommunications)
2009-02-25 David Gale - President of Delta Dividend Group, Inc. (investments)
2010-02-25 President of Delta Dividend Group, Inc. (investments)
2011-02-24 Mr. Gale has been President and Chief Executive Officer of Delta Dividend Group, Inc, a San Francisco-based investment management firm, since 1992. Prior to joining Delta Dividend Group, Inc., Mr. Gale was a Principal with Morgan Stanley and a Managing Director of Lehman Brothers Holdings Inc.
2012-03-06 Mr. Gale has been President and Chief Executive Officer of Delta Dividend Group, Inc, a San Francisco-based investment management firm, since 1992. Prior to joining Delta Dividend Group, Inc., Mr. Gale was a Principal with Morgan Stanley from February 1983 to January 1990, and a Managing Director of Lehman Brothers Holdings Inc. from January 1990 to January 1992.
2013-03-07 Mr. Gale has been President and Chief Executive Officer of Delta Dividend Group, Inc., a San Francisco-based investment management firm, since 1992. Prior to joining Delta Dividend Group, Inc., Mr. Gale was a Principal with Morgan Stanley from February 1983 to January 1990, and a Managing Director of Lehman Brothers Holdings Inc. from January 1990 to January 1992.
2014-03-21 Mr. Gale has been President and Chief Executive Officer of Delta Dividend Group, Inc., a San Francisco-based investment management firm, since 1992. Prior to joining Delta Dividend Group, Inc., Mr. Gale was a Principal with Morgan Stanley from 1983 to 1990, and a Managing Director of Lehman Brothers Holdings Inc. from 1990 to 1992.
2015-03-09 Mr. Gale has been President and Chief Executive Officer of Delta Dividend Group, Inc., a San Francisco-based investment management firm, since 1992. Prior to joining Delta Dividend Group, Inc., Mr. Gale was a Principal with Morgan Stanley from 1983 to 1990, and a Managing Director of Lehman Brothers Holdings Inc. from 1990 to 1992.
2016-03-08 Mr. Gale has been President and Chief Executive Officer of Delta Dividend Group, Inc., a San Francisco-based investment management firm, since 1992. Prior to joining Delta Dividend Group, Inc., Mr. Gale was a Principal with Morgan Stanley from 1983 to 1990, and a Managing Director of Lehman Brothers Holdings Inc. from 1990 to 1992.
2017-03-10 Mr. Gale has been President and Chief Executive Officer of Delta Dividend Group, Inc., a San Francisco-based investment management firm, since 1992. Prior to joining Delta Dividend Group, Inc., Mr. Gale was a Principal with Morgan Stanley from 1983 to 1990, and a Managing Director of Lehman Brothers Holdings Inc. from 1990 to 1992.
2018-03-06 Mr. Gale has been President and Chief Executive Officer of Delta Dividend Group, Inc., a San Francisco-based investment management firm, since 1992. Prior to joining Delta Dividend Group, Inc., Mr. Gale was a Principal with Morgan Stanley from 1983 to 1990, and a Managing Director of Lehman Brothers Holdings Inc. from 1990 to 1992.
2019-03-12 President of Delta Dividend Group, Inc. (investments). Prior to joining Delta Dividend Group, Inc., Mr. Gale was a Principal with Morgan Stanley from 1983 to 1990, and a Managing Director of Lehman Brothers Holdings Inc. from 1990 to 1992.
2020-03-05 David Gale has been President and Chief Executive Officer of Delta Dividend Group, Inc., a San Francisco-based investment management firm, since 1992. Prior to joining Delta Dividend Group, Inc., Mr. Gale was a Principal with Morgan Stanley from 1983 to 1990, and a Managing Director of Lehman Brothers Holdings Inc. from 1990 to 1992.
2021-03-04 President of Delta Dividend Group, Inc. (investments). Prior to joining Delta Dividend Group, Inc., Mr. Gale was a Principal with Morgan Stanley and a Managing Director of Lehman Brothers Holdings Inc.
2022-03-03 President of Delta Dividend Group, Inc. (investments). Prior to joining Delta Dividend Group, Inc., Mr. Gale was a Principal with Morgan Stanley from 1983 to 1990, and a Managing Director of Lehman Brothers Holdings Inc. from 1990 to 1992.
2023-03-02 President of Delta Dividend Group, Inc. (investments). Prior to joining Delta Dividend Group, Inc., Mr. Gale was a Principal with Morgan Stanley from 1983 to 1990, and a Managing Director of Lehman Brothers Holdings Inc. from 1990 to 1992.
2024-03-04 President of Delta Dividend Group, Inc. (investments).
2025-03-17 President of Delta Dividend Group, Inc. (investments).

Data sourced from SEC filings. Last updated: 2025-12-06