SPDR GOLD TRUST 8-K

What Happened

• SPDR Gold Trust (GLD) filed an 8-K on February 9, 2026 (Item 5.02) announcing that Joseph R. Cavatoni stepped down as Principal Executive Officer of World Gold Trust Services, LLC (the “Sponsor”) effective February 9, 2026. Mr. Cavatoni will expand his role at the World Gold Council (WGC) as Senior Market Strategist and Head of Public Policy, Americas. The Sponsor has appointed Jonathan D. Spiegel as the new Principal Executive Officer effective immediately. The filing states Mr. Cavatoni’s departure was not due to any disagreement with the Trust’s operations, policies or practices.

Key Details

• Effective date: February 9, 2026.
• New Sponsor PEO: Jonathan D. Spiegel, age 44; joined WGC on January 13, 2026 as Chief Executive Officer of the Funds.
• Mr. Spiegel’s background: Director & Head of ETF Product Development at New York Life Investment Management (Oct 2021–Dec 2025); prior roles at Goldman Sachs Asset Management (VP, 2010–2016) and Morgan Stanley Investment Management (2007–2010). Education: Bachelor’s from Penn State; MBA from Fordham University (Gabelli).
• Filing note: Departure “does not arise from any disagreement” relating to the Trust.

Why It Matters

• This is a Sponsor-level executive change for the Trust that may affect how the Sponsor manages GLD, but the 8-K includes no financial results or operational changes to the Trust itself. The appointment of an experienced ETF/product development executive and the statement that there was no disagreement signal continuity in oversight. Retail investors should note the personnel change for governance context but the filing discloses no immediate impact to GLD’s holdings, fees, or performance.