Marc De Oliveira
About Marc De Oliveira
Marc A. De Oliveira serves as Secretary and Chief Legal Officer of Western Asset Mortgage Opportunity Fund Inc. (DMO) and has held this officer role since 2023 . He is an Associate General Counsel at Franklin Templeton (since 2020) and previously was Managing Director (2016–2020) and Associate General Counsel (2005–2020) at Legg Mason & Co., with his birth year disclosed as 1971 . Officers of the Fund receive no compensation from DMO (administrative officers are elected annually and may only be reimbursed for reasonable travel to Board meetings), so pay-versus-performance linkages (TSR, revenue/EBITDA growth) are not applicable at the Fund level for this role . As of August 29, 2025, directors and officers of the Fund as a group beneficially owned less than 1% of shares outstanding, indicating limited insider ownership alignment at the Fund level .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Franklin Templeton | Associate General Counsel | 2020–present | Legal/governance leadership across the Franklin Templeton/Legg Mason fund complex as reflected by concurrent officer roles at multiple funds . |
| Legg Mason & Co. | Managing Director; Associate General Counsel | 2016–2020; 2005–2020 | Senior legal leadership for fund-advisory complex prior to Franklin integration; continuity of fund legal administration . |
External Roles
| Organization/Entity | Role | Years | Notes |
|---|---|---|---|
| Certain funds associated with Legg Mason & Co. or affiliates | Secretary and Chief Legal Officer | Since 2020 | Officer roles across funds in the complex indicate broad governance remit . |
| Certain funds associated with Legg Mason & Co. or affiliates | Assistant Secretary | Since 2006 | Long-standing governance/secretarial responsibilities across fund complex . |
Fixed Compensation
| Component | Amount/Terms |
|---|---|
| Compensation from DMO | $0; officers receive no compensation from the Fund . |
| Expense reimbursement | May be reimbursed for reasonable out-of-pocket travel expenses for attending Board meetings . |
Performance Compensation
- No Fund-level bonus, equity, or option awards for officers; no disclosed performance metrics, weightings, targets, actuals, or vesting tied to DMO for officers, as officers receive no compensation from the Fund .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Officer/director ownership (group) | Less than 1% of outstanding shares as a group as of August 29, 2025 . |
| Individual officer holdings | The proxy discloses dollar ranges for Directors; individual officer holdings are not separately itemized; group figure includes officers . |
| Section 16(a) reporting | Based on review, all required ownership/change filings were met for fiscal year ended Dec 31, 2024 . |
Employment Terms
| Term | Detail |
|---|---|
| Election and term | Officers are chosen each year at a regular Board meeting to serve until successors are elected and qualified . |
| Compensation source | No compensation is paid by DMO to officers; officers are personnel of Franklin Templeton affiliates . |
| Role at adviser | FTFA (Franklin Templeton Fund Adviser, LLC) is the Fund’s investment adviser/administrator; Marc’s principal occupation is Associate General Counsel at Franklin Templeton . |
Investment Implications
- Pay-performance alignment at the Fund level is minimal for this role since officers receive no compensation from DMO; incentives reside at Franklin Templeton, not the Fund, limiting any direct Fund-linked bonus/equity levers for trading signals .
- Insider selling pressure and alignment appear limited at the Fund level given that directors and officers as a group hold less than 1% of shares outstanding, reducing the likelihood of meaningful insider-driven supply/demand impacts in the stock .
- Governance/compliance risk appears contained: officers are elected annually under a standard structure for externally managed closed-end funds, and Section 16(a) compliance was met for the most recent fiscal year reviewed, reducing red flags on reporting discipline .
- Retention risk for the individual is tied to Franklin Templeton rather than DMO; continuity risk at the Fund level is mitigated by the broader Franklin Templeton legal organization supporting officer functions across funds .
Notes on scope: DMO’s proxy focuses on director compensation and fund governance; it explicitly states officers receive no compensation from the Fund and does not disclose individual officer compensation packages, severance, change-in-control terms, pledging/hedging policies for officers, or individually itemized officer ownership. Analyses above therefore emphasize disclosed structural facts and their implications for alignment, retention, and trading signals .
Citations:
- 2025 DEF 14A officer roles, compensation statement, election terms, principal occupations .
- 2025 DEF 14A adviser and subadviser context .
- 2025 DEF 14A group ownership less than 1% and director dollar-range table .
- 2025 DEF 14A Section 16(a) compliance statement .
- 2023 DEF 14A confirming officer role since 2023 and prior Legg Mason roles, birth year .