Thomas P. Kiley III
About Thomas P. Kiley III
Thomas P. Kiley III (year of birth 1968) is Vice President of CCD since 2024 and serves as Senior Vice President and Chief Distribution Officer at Calamos Asset Management, Calamos Investments LLC, and Calamos Advisors; he is also Principal Executive Officer and Chief Distribution Officer of Calamos Financial Services LLC and a Vice President at Calamos Antetokounmpo Asset Management LLC . He joined Calamos from BlackRock, where he led sales for the firm’s East Coast RIA segment and worked nearly two decades in distribution roles . Within Calamos, Kiley’s remit centers on strategy and business development for the registered investment advisor channel, aligning fund distribution and investor engagement . CCD operates with a level distribution policy, with monthly per-share distribution of $0.1950 as of April 30, 2025, providing context for shareholder outcomes during his tenure .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| BlackRock Investments, Inc. | Managing Director, RIA Eastern Divisional Sales Manager | 2017–2024 | Led sales for the East Coast RIA segment, bringing deep RIA market expertise |
External Roles
- None disclosed in CCD’s proxy or semiannual filings for public company directorships or external board roles .
Fixed Compensation
- Compensation for fund officers (including Kiley) is not itemized in CCD’s proxy; CCD does not compensate “interested” trustees, and officer pay is handled through affiliates. The only explicit officer pay reimbursement noted is partial compensation for the Trust’s Chief Compliance Officer .
Performance Compensation
- No disclosure of bonus targets, RSUs/PSUs, options, vesting schedules, or performance metrics tied to Kiley’s compensation in CCD documents .
Equity Ownership & Alignment
| Metric | Value | As-of | Source |
|---|---|---|---|
| CCD Common Shares Outstanding | 27,054,934 | March 31, 2025 | |
| Trustees and Officers as a Group – CCD Common Owned | 1,388,960 (5.2%) | March 31, 2025 | |
| Individual beneficial ownership for Kiley | Not disclosed | March 31, 2025 | |
| Shares pledged/hedged | Not disclosed | N/A |
- Signing authority: Kiley executed firm-side agreements as Principal Executive Officer of Calamos Financial Services LLC, evidencing senior accountability within distribution operations .
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Current titles | Vice President (CCD; since 2024); SVP & Chief Distribution Officer (CAM, CILLC, Calamos Advisors; since 2024); PEO & Chief Distribution Officer (CFS; since 2024); VP (CGAM; since 2024) | |
| Appointment/tenure | Joined Calamos in 2024 to lead RIA distribution strategy | |
| Officer service term | Officers serve until a successor is chosen and qualified or until resignation/removal by the board | |
| Signatory authority | Executed fidelity bond insurance allocation agreement on behalf of CFS as Principal Executive Officer |
Performance & Track Record
| Item | Detail | As-of | Source |
|---|---|---|---|
| CCD distribution policy | Transitioned from managed to level distribution (effective January 1, 2025) | December 17, 2024 decision | |
| CCD monthly distribution per share | $0.1950 | April 30, 2025 | |
| Calamos Advisors AUM (context) | $40B (Calamos Investments LLC assets; $38B at Calamos Advisors) | December 31, 2024 |
Board Governance
- Kiley is an officer (Vice President) and not a trustee; CCD boards maintain Audit, Dividend, Executive, Governance, and Valuation committees to oversee fund operations and risk .
- Audit committee members include Virginia G. Breen, John E. Neal (Lead Independent Trustee), William R. Rybak, Karen L. Stuckey, Christopher M. Toub, and Lloyd A. Wennlund .
Compensation Structure Analysis
- Absence of fund-level disclosure on Kiley’s base salary/bonus/equity indicates compensation is set and paid by Calamos affiliates, limiting pay-for-performance transparency at the fund level .
- No evidence of equity award repricing, gross-ups, clawbacks, or pledging in fund documents; CCO compensation is partially reimbursed by the fund, but no similar mechanism is disclosed for distribution leadership roles .
Investment Implications
- Alignment and trading signals: Without individual beneficial ownership or incentive metric disclosures for Kiley, direct pay-for-performance analysis is constrained; group ownership of 5.2% offers some alignment but cannot be attributed specifically to him .
- Retention and execution: Kiley’s mandate to grow RIA distribution aligns with fund scale and investor engagement; his firm-wide roles and signatory authority signal senior accountability in distribution rather than portfolio management, so shareholder outcomes flow more through CCD’s distribution policy and investment performance than officer-specific incentives .
- Governance comfort: Formal committee oversight and established distribution policies provide structural governance; however, lack of officer-level compensation detail reduces visibility into potential selling pressure, vesting calendars, or change-of-control economics that are typical drivers of executive-related trading signals in operating companies .