Megan Kennedy
About Megan Kennedy
Megan Kennedy serves as Vice President and Secretary of the abrdn Income Credit Strategies Fund (ACP) and has held officer roles at the Fund since 2017. Year of birth: 1974; principal occupation: Senior Director, Product Governance at abrdn Inc. (joined abrdn Inc. in 2005). Officers are appointed annually by the Fund’s Board and hold office until a successor is elected; officers do not receive compensation directly from the Fund (paid by abrdn Inc.). Kennedy is listed as a proxy signatory in recent ACP proxy statements.
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| abrdn Inc. | Senior Director, Product Governance | 2005–present | Leads product governance for abrdn’s U.S. registered funds; current status confirmed in ACP proxies |
| abrdn Income Credit Strategies Fund (ACP) | Vice President, Secretary | 2017–present | Fund officer and corporate secretary; designated proxy signatory for ACP shareholder meetings |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | No external public company board or committee roles disclosed in ACP proxy officer biographies |
Fixed Compensation
| Component | 2023 | 2024 | 2025 | Notes |
|---|---|---|---|---|
| Base salary ($) | Not disclosed | Not disclosed | Not disclosed | Officers of the Fund do not receive compensation directly from the Fund; they are employees of abrdn Inc. |
| Target bonus (%) | Not disclosed | Not disclosed | Not disclosed | Not disclosed at the Fund level |
| Actual bonus paid ($) | Not disclosed | Not disclosed | Not disclosed | Not disclosed at the Fund level |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed by ACP (officers compensated by abrdn Inc., not the Fund) | — | — | — | — | — |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (individual) | Not individually disclosed for Fund officers in ACP proxies |
| Trustees and officers aggregate ownership | Trustees and officers, in aggregate, owned less than 1% of ACP’s outstanding equity securities as of April 1, 2025; also less than 1% as of Oct 31, 2023 |
| Named officer examples | As of April 1, 2025, executive officers Alan Goodson and Sharon Ferrari did not own shares of the Fund (illustrates generally low officer ownership) |
| Pledging/hedging | Not disclosed in ACP proxies for officers |
| Ownership guidelines | Not disclosed for officers in ACP proxies |
| Section 16 filings | Fund’s reporting persons (including officers) timely filed required ownership reports for the fiscal period ended Oct 31, 2023 |
Employment Terms
| Topic | Disclosure |
|---|---|
| Appointment and term | Officers are appointed annually by the Fund Board and serve until a successor is elected and qualifies |
| Employer/affiliation | Officers (including Ms. Kennedy) also serve as directors and/or officers of abrdn Inc. (the Fund’s sub-adviser/administrator) |
| Compensation source | Officers do not receive compensation directly from the Fund; compensation is paid by abrdn Inc. |
| Severance/change-of-control | Not disclosed for Fund officers in ACP proxies |
| Non-compete/non-solicit | Not disclosed for Fund officers in ACP proxies |
| Clawbacks/tax gross-ups | Not disclosed for Fund officers in ACP proxies |
Investment Implications
- Pay-for-performance linkage at the Fund level cannot be assessed: compensation for Fund officers (including Ms. Kennedy) is not set or paid by ACP and is not disclosed in ACP filings; it is determined by abrdn Inc./abrdn plc. This limits visibility into incentive metrics, vesting schedules, and severance economics from ACP documents.
- Insider-selling pressure and ownership alignment appear immaterial at the Fund level: Trustees and officers as a group owned less than 1% of outstanding shares (and named executive officers Goodson/Ferrari held no shares), indicating limited near-term selling pressure or alignment signal from officer holdings. For trading signals, monitoring Section 16 filings is advisable, but ACP reports timely compliance with no delinquent reports noted.
- Retention risk and incentive design should be evaluated at the abrdn Inc./abrdn plc level (outside ACP proxies): Ms. Kennedy’s long tenure (joined abrdn in 2005; ACP officer since 2017) in product governance suggests continuity in fund governance oversight, but employment contracts, non-compete terms, and change-of-control provisions are not disclosed in ACP filings.