Derek Mullins

About Derek Mullins

Derek Mullins (birth year 1973) serves as Chief Financial Officer and Treasurer of Destra Multi-Alternative Fund (DMA) and has held these officer roles since 2018 . His background includes Managing Partner and Co‑Founder of PINE Advisor Solutions (2018–present), Director of Operations at ArrowMark Colorado Holdings LLC (2009–2018), and CFO/Treasurer of Meridian Fund, Inc. (2013–2018) . The Fund’s proxies do not disclose officer compensation metrics or fund performance linkages for officers; importantly, DMA states it pays no salaries or compensation to officers, indicating his cash/equity compensation is paid by external service providers rather than the Fund .

Past Roles

External Roles

Fixed Compensation

• DMA pays no salaries or compensation to its officers; as a result, Mullins does not receive cash compensation directly from the Fund (officer pay is at the adviser/service provider level and not reported in DMA’s proxy) .
• No base salary, target bonus, paid bonus, perquisites, or pension/SERP values for officers are disclosed by DMA in its proxies (consistent with the Fund’s statement that officers are not compensated by the Fund) .

Performance Compensation

• DMA does not disclose officer equity or performance-based awards (e.g., RSUs/PSUs/options) for Fund officers; given the Fund’s statement that it pays no compensation to officers, there is no Fund-level performance incentive plan or vesting schedule disclosed for Mullins .

Equity Ownership & Alignment

• Section 16 status: DMA indicates that certain officers (including Derek Mullins) had initial Form 3 statements filed late in 2023, signaling prior reporting timeliness issues; in the subsequent year, the Fund stated required filings for officers/adviser affiliates were met based on its review .
• DMA proxies focus ownership tables on trustees and >5% shareholders; officer-specific beneficial ownership amounts for Mullins are not presented in the proxies .

Employment Terms

• DMA’s proxies do not include individual officer employment agreements, severance/change-of-control provisions, non-compete/non-solicit terms, or clawback/tax gross-up provisions for officers; DMA emphasizes that officers are not compensated by the Fund, and board committees are Audit, Nominating & Governance, and Qualified Legal Compliance (no compensation committee) .

Investment Implications

• Pay-for-performance alignment: Because DMA pays no compensation to officers, Mullins’ economics are tied to external service providers rather than Fund-level NAV/TSR metrics; this reduces direct Fund-level pay alignment signals for investors evaluating management incentives .
• Governance/compliance signal: The late initial Form 3 filing in 2023 for multiple insiders including Mullins is a minor governance red flag on reporting timeliness, although DMA later noted required filings were met in the following year based on its review .
• Trading/ownership transparency: DMA proxies do not provide officer-specific beneficial ownership or pledging details, limiting visibility into potential insider selling pressure or skin-in-the-game for Mullins at the Fund level .
• Structural horizon risk: DMA’s term structure introduces a defined timeline (dissolution scheduled March 31, 2027, with potential extensions tied to NAV return and trading discount targets or a tender offer), which can shift management focus toward wind-down or extension criteria rather than long-duration value creation; this affects retention/continuity considerations for all officers, including the CFO .