Nancy E. Stuebe
About Nancy E. Stuebe
Independent Trustee of Advent Convertible and Income Fund (NYSE: AVK). Born 1964; Trustee since December 3, 2020; currently Director of Investor Relations at Interactive Brokers Group, Inc. (2016–present). Prior roles include senior equity analyst and portfolio manager positions at Gabelli Asset Management and AIS Capital Management. The Board cites her experience in investor relations and asset management as providing financial, accounting, regulatory, governance and investment skills relevant to AVK’s oversight .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Interactive Brokers Group, Inc. | Director of Investor Relations | 2016–present | Investor relations leadership; capital markets and governance exposure |
| Gabelli Asset Management | Senior Equity Analyst & Senior Portfolio Manager | 2015–2016 | Equity research and portfolio management |
| AIS Capital Management, LLC | Senior Research Analyst & Portfolio Manager | 2008–2015 | Investment research, portfolio management |
| Gabelli Asset Management | Senior Equity Analyst & Portfolio Manager | 2005–2008 | Equity research and portfolio management |
External Roles
| Organization | Position | Public Company Directorship | Notes |
|---|---|---|---|
| Interactive Brokers Group, Inc. | Director of Investor Relations | None | No other public company or investment company directorships disclosed |
Board Governance
- Board classification: Class II Trustee; Class II term continues until the 2026 annual meeting or until successor elected and qualified .
- Independence: Independent Trustee under Rule 10A‑3; committees limited to Independent Trustees .
- Committee memberships: Member of Audit Committee (all Independent Trustees are members); majority of Audit Committee are “financial experts.” Also member of Nominating and Governance Committee (composed of all Independent Trustees) .
- Attendance: Each Trustee attended at least 75% of Board and applicable committee meetings in FY ended Oct 31, 2024; all Trustees attended the September 10, 2024 annual meeting via teleconference .
- Board leadership: Interested Trustee as Chair; Daniel L. Black designated Lead Independent Trustee; Independent Trustees meet regularly in executive session via the Nominating and Governance Committee .
| Meeting Activity | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|
| Board meetings held | 5 | 7 | 5 | 7 |
| Audit Committee meetings | 4 | 4 | 4 | 4 |
| Nominating & Governance Committee meetings | 4 | 4 | 4 | 4 |
| Trustee attendance statement | ≥75% | ≥75% | ≥75% | ≥75% |
Fixed Compensation
| Metric (USD) | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|
| Aggregate Compensation from AVK | $60,250 | $83,500 | $94,500 | $94,500 |
- Compensation for Trustees is disclosed as aggregate cash; no breakdown of annual retainer, committee fees, or meeting fees is provided in AVK’s proxy statements .
Performance Compensation
| Component | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|
| Equity awards (RSUs/PSUs) | None disclosed | None disclosed | None disclosed | None disclosed |
| Option awards | None disclosed | None disclosed | None disclosed | None disclosed |
| Performance metrics tied to director pay | None disclosed | None disclosed | None disclosed | None disclosed |
| Clawbacks / CoC provisions for directors | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
AVK’s director compensation disclosure reflects cash-only payments; no equity or option grants to Trustees are reported across the reviewed fiscal years .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Other public company boards | None |
| Investment company directorships | None |
| Potential interlocks with AVK service providers/customers | None disclosed; committees comprised solely of Independent Trustees; independent counsel present |
| Related-party transactions | None specific to Stuebe disclosed; Board notes risk oversight includes conflicts affecting affiliates of Advent and Guggenheim Funds |
Expertise & Qualifications
- Board summary: Experience in investor relations at Interactive Brokers and prior senior analyst/PM roles at asset managers provide financial, accounting, regulatory, governance and investment expertise .
- Audit aptitude: Audit Committee membership; majority of committee deemed audit committee financial experts (committee-level assessment) .
Equity Ownership
| Dollar Range of AVK Equity | As of July 31, 2021 | As of August 5, 2022 | As of August 4, 2023 | As of July 25, 2024 | As of August 1, 2025 |
|---|---|---|---|---|---|
| Nancy E. Stuebe | $0; 0 shares | $10,001–$50,000; 1,104 shares | $10,001–$50,000 | $50,001–$100,000 | $50,001–$100,000 |
| Ownership % of AVK shares outstanding | <1% (individual) | <1% (individual) | <1% (individual) | <1% (individual) | <1% (individual) |
| Pledged shares | None disclosed | None disclosed | None disclosed | None disclosed | None disclosed |
AVK states each Trustee and officer individually owned less than 1% of outstanding shares in the referenced periods .
Governance Assessment
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Strengths:
- Independent Trustee with relevant capital markets and investment management background; active on both Audit and Nominating/Governance Committees .
- Attendance at least 75% of Board/committee meetings; full participation in the 2024 annual meeting .
- Increasing personal share ownership (from $0 in 2021 to $50k–$100k by 2024–2025) supports alignment with shareholders .
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Considerations:
- Director compensation disclosure is aggregate cash only; absence of equity or performance‑linked elements reduces pay-for-performance alignment but is typical for closed‑end fund trustees .
- No committee chair roles disclosed for Stuebe; leadership roles (Chair and Lead Independent) are held by others .
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Red flags observed: None specific to Stuebe. AVK disclosed overall risk oversight framework, including monitoring potential conflicts involving affiliates of Advent and Guggenheim; no Stuebe‑specific related‑party transactions, pledging, or hedging disclosed .
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Section 16 compliance: AVK states all applicable Section 16 filings were timely for FY ended Oct 31, 2024 .
Notes on Recent Corporate Actions (context)
- AVK conducted a transferable rights offering in September–October 2024, appointing UBS as Dealer Manager and Equiniti/EQ as agents; governance documents emphasize compliance, disclosure controls, and audit committee oversight. No director‑specific conflicts disclosed in relation to these transactions .