Lucia Sitar
About Lucia Sitar
Lucia Sitar (Year of Birth: 1971) serves as Vice President of abrdn Global Infrastructure Income Fund (ASGI), an officer role she has held since 2020. She is currently Vice President and Head of Product Management and Governance—Americas at abrdn Inc. (since 2021), and previously served as Managing U.S. Counsel after joining abrdn Inc. as U.S. Counsel in July 2007 . Her legal credentials are reflected in company filings that address correspondence “Attention: Lucia Sitar, Esq.” . ASGI’s proxy does not disclose officer-level performance metrics (e.g., TSR, revenue/EBITDA growth) tied to her role .
Past Roles
| Organization | Role | Years | Strategic Impact / Scope |
|---|---|---|---|
| abrdn Inc. | Vice President and Head of Product Management and Governance—Americas | 2021–present | Senior leadership over product management and governance across the Americas |
| abrdn Global Infrastructure Income Fund (ASGI) | Vice President (Fund Officer) | 2020–present | Fund officer responsibilities, including being listed among principal officers |
| abrdn Inc. | Managing U.S. Counsel | Prior to 2021 | Senior legal leadership within abrdn’s U.S. legal function |
| abrdn Inc. | U.S. Counsel | Since July 2007 | Joined abrdn’s legal team; foundational legal role for the U.S. business |
External Roles
No external directorships or outside public company roles are referenced in her ASGI officer biography within the 2025 proxy statement .
Fixed Compensation
- ASGI discloses that “all officers of the Fund are employees of and are compensated by the Fund’s Investment Adviser or its affiliates,” and “none of the Fund’s executive officers received any compensation from the Fund” for the fiscal year ended September 30, 2024 .
| Component | Paying Entity | Amount/Terms Disclosed |
|---|---|---|
| Fund cash compensation to ASGI officers | ASGI (the Fund) | $0 disclosed; officers are compensated by abrdn Inc./affiliates, not by ASGI |
Note: Any salary/bonus/equity awarded by abrdn Inc. to Ms. Sitar is not disclosed in ASGI’s proxy; such information is not reported in ASGI filings .
Performance Compensation
- ASGI provides no disclosure of officer incentive plans (bonus targets, RSUs/PSUs, options, performance metrics, vesting schedules) for fund officers because they are compensated by abrdn Inc., not the Fund .
Equity Ownership & Alignment
- Officer-level individual share ownership for Ms. Sitar is not itemized in the proxy; the proxy instead discloses trustees’ holdings and a combined ownership statement for trustees and officers .
- As of April 1, 2025, the Fund’s Trustees and officers, in the aggregate, owned less than 1% of ASGI’s outstanding equity securities . ASGI had 28,944,192 shares outstanding as of the April 7, 2025 record date .
- No pledging, hedging, or officer ownership guideline disclosures are provided for fund officers in the proxy .
| Ownership Item | Disclosure |
|---|---|
| Individual beneficial ownership (Sitar) | Not individually disclosed in ASGI proxy officer tables |
| Aggregate insider ownership | Trustees and officers in aggregate: <1% of shares outstanding (as of 4/1/2025) |
| Shares outstanding (context) | 28,944,192 (record date 4/7/2025) |
| Pledged shares (Sitar) | Not disclosed in ASGI filings reviewed |
| Ownership guidelines (officers) | Not disclosed in ASGI filings reviewed |
Insider filings context:
- Ms. Sitar frequently signs Section 16 reports as attorney-in-fact for other reporting persons (e.g., Forms 3 for various ASGI officers/affiliates), evidencing delegated filing authority rather than personal transactions in ASGI .
- Power-of-Attorney frameworks for filings list Ms. Sitar among authorized attorneys-in-fact for multiple abrdn-affiliated funds .
Employment Terms
- Employment agreements, severance or change-of-control protections for ASGI officers (including Ms. Sitar) are not disclosed in the Fund’s proxy; officers are employees of abrdn Inc., and any such arrangements would be at the adviser level and not reported in ASGI’s proxy .
- Ms. Sitar’s ASGI role (Vice President) dates to 2020; her broader abrdn Inc. roles date to 2007 (U.S. Counsel) and 2021 (Head of Product Management and Governance—Americas) .
Additional Governance/Authority Signals
- Signatory and contact: Notices tied to ASGI reorganizational agreements identify “Attention: Lucia Sitar, Esq.” and show her as a signatory (Vice President) on reorganization documentation involving ASGI and related funds, underscoring a central legal/governance role .
- Attorney-in-fact: Multiple EDGAR filings show Ms. Sitar acting under Power of Attorney for Section 13/16 filings across abrdn U.S. closed-end funds, supporting her compliance and governance remit .
Investment Implications
- Pay-for-performance transparency is limited: ASGI officers are compensated by abrdn Inc., with no fund-level disclosure of salary/bonus/equity, making it difficult to directly assess incentive alignment, severance/change-of-control economics, or vesting-driven selling pressure for Ms. Sitar from ASGI filings .
- Insider ownership alignment appears modest at the fund level (trustees and officers collectively <1%), which is typical for U.S. closed-end funds, and there is no evidence of Sitar’s personal ASGI trading activity in filings reviewed (her signatures appear in an attorney-in-fact capacity) .
- Retention risk cannot be assessed from ASGI filings; however, multi-decade tenure at abrdn (since 2007) and senior leadership in Product Management & Governance—Americas may suggest institutional continuity, with governance/legal expertise indicated by her Esq. designation and repeated signatory roles on fund transactional documents .
- For trading signals tied to executive incentives (e.g., impending option exercises, PSU vesting, or ownership guideline shortfalls), ASGI disclosures provide no such triggers at the fund-officer level; monitoring abrdn plc disclosures (U.K.) would be required to evaluate adviser-level compensation levers not captured in ASGI proxy materials .