Kevin F. McDonald
About Kevin F. McDonald
Kevin F. McDonald (age 58) is an Independent Director of Eagle Point Credit Company Inc. (ECC) and has served on the board since May 2014; his current term is scheduled to expire at the 2026 annual meeting . He is Chief Operating Officer of AltaRock Partners, LLC (since January 2019) and holds a B.A. from the University of Virginia, with a career spanning roles at JP Morgan Securities (1994–1999), BSI Bank (1991–1994), and Chemical Bank (1989) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| AltaRock Partners, LLC | Chief Operating Officer | Jan 2019 – Present | Senior operating leadership in asset management |
| Folger Hill Asset Management, LP | Director of Business Development & IR | Dec 2014 – Jul 2018 | Capital raising and investor relations |
| Taylor Investment Advisors, LP | Co‑Founder; Principal; Chief Executive Officer | Principal 2002–2017; CEO 2006–2014 | Firm building and portfolio oversight |
| Larch Lane Advisors LLC | Director | 1999–2001 | Alternatives advisory |
| JP Morgan Securities | Vice President (Futures & Options Group) | 1994–1999 | Trading and derivatives expertise |
| BSI Bank (Generali S.p.A. subsidiary) | Assistant Treasurer; Proprietary Fixed‑Income Trader | 1991–1994 | Fixed income trading |
| Chemical Bank | Credit Analyst (Corporate Finance) | 1989 | Credit analysis foundations |
External Roles
| Organization | Role | Tenure | Committees |
|---|---|---|---|
| Eagle Point Income Company Inc. | Independent Director | Since Oct 2018 (board service dates per ECC director profile) | Audit; Nominating (member) |
| Eagle Point Institutional Income Fund | Independent Trustee | Since Jan 2022 (fund complex role) | Audit; Nominating (member) |
| Eagle Point Enhanced Income Trust | Independent Trustee | Since Aug 2023 | Audit; Nominating (member) |
| Eagle Point Defensive Income Trust | Independent Trustee | Since Feb 2024 | Audit; Nominating (member) |
McDonald does not serve on other public company boards outside the Eagle Point fund complex in the last five years .
Board Governance
- Independence: McDonald is an Independent Director under the 1940 Act and NYSE listing standards .
- ECC Board structure: 6 directors; 4 independent (Appleby, McDonald, Tramontano, Weiss) and 2 interested (Matthews—Chair; Majewski—CEO) .
- Committees: Audit Committee and Nominating Committee composed of all Independent Directors; McDonald is a member of both .
- Committee chairs: Audit—Jeffrey L. Weiss (chair); Nominating—Scott W. Appleby (chair) .
- Lead Independent Director: Jeffrey L. Weiss .
- Attendance: In FY2024, the Board met 5 times; Audit met 5; Nominating met 3; every director attended at least 75% of combined Board and committee meetings .
- Classification/term: As a corporation, McDonald is Class III (term expires 2026) . If the shareholder‑approved conversion to a Delaware statutory trust occurs, he is designated a Class I trustee with a term expiring 2026 in the trust’s initial classification .
Fixed Compensation
| Item | ECC Amount (FY2024) | Notes |
|---|---|---|
| Annual cash retainer (Independent Director) | $95,000 | Standard retainer for Independent Directors; reimbursed out‑of‑pocket expenses |
| Committee chair fee – Audit | $12,500 (only for chair) | McDonald is not chair; fee applies to Weiss |
| Committee chair fee – Nominating | $5,000 (only for chair) | McDonald is not chair; fee applies to Appleby |
| Meeting fees | Not disclosed (none noted) | Proxy specifies annual fees; no per‑meeting fees indicated |
| Pension/retirement | None | Directors do not receive pension/retirement benefits |
| Aggregate paid – ECC (FY2024) | $95,000 | McDonald’s individual ECC compensation |
| Aggregate paid – Fund Complex (FY2024) | $180,000 | Across ECC, EIC, Institutional, Enhanced, Defensive |
Performance Compensation
- No equity grants (RSUs/PSUs), options, or performance‑based pay disclosed for ECC directors; compensation is cash‑based .
- No disclosed director performance metrics (e.g., TSR, NAV growth) tied to compensation .
| Metric Category | Plan Feature | Detail |
|---|---|---|
| Stock awards (RSUs/PSUs) | Not disclosed | No director stock awards indicated |
| Option awards | Not disclosed | No director options indicated |
| Bonus | Not disclosed | No target/actual bonuses for directors |
| Clawback/COC/severance | Not disclosed | No director‑specific provisions disclosed |
Other Directorships & Interlocks
- McDonald serves on multiple boards within the Eagle Point fund complex (EIC, Institutional Income Fund, Enhanced Income Trust, Defensive Income Trust), with consistent committee memberships (Audit and Nominating) .
- Board includes two “interested” directors: the Adviser’s Managing Partner/CEO (Majewski) and Stone Point’s Managing Director (Matthews); McDonald is independent and not affiliated with Stone Point or the Adviser .
- Independent Directors (including McDonald) and their immediate family members did not own securities of the Adviser or affiliates as of the record date, mitigating advisor interlock conflicts .
Expertise & Qualifications
- 35+ years across credit, derivatives, and asset management roles spanning JP Morgan, BSI Bank, Chemical Bank, Taylor Investment Advisors, Folger Hill, and AltaRock Partners; BA (University of Virginia) .
- Service on audit and nominating committees across ECC and affiliated funds, indicating financial literacy and governance engagement .
Equity Ownership
| Holder | Security | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|---|
| Kevin F. McDonald | Common Stock | 14,321 | <1.0% (per proxy notation) | Address: c/o ECC, Greenwich, CT |
| Kevin F. McDonald | Preferred Stock | — | — | No preferred shares disclosed |
| Dollar Range (ECC) | — | Over $100,000 | — | Proxy dollar range categories |
| Shares Outstanding (reference for % context) | Common | 130,832,939 (Record Date: Oct 24, 2025) | — | Special meeting proxy record date |
No pledging or hedging of ECC stock by Independent Directors (including McDonald) is disclosed; no loans or related‑party transactions involving McDonald are disclosed .
Governance Assessment
- Strengths: Independent status; broad financial and operating background; consistent committee participation; attendance at least 75% in FY2024; no Adviser/affiliate securities ownership by McDonald/family; broad governance activity across fund complex .
- Alignment: Direct beneficial ownership of ECC common stock (14,321 shares; “Over $100,000” category) supports moderate alignment, though directors do not receive equity grants (comp is largely fixed cash) .
- Conflicts: ECC pays material fees to its Adviser/Administrator (e.g., $42.9 million advisory fees in FY2024; $1.4 million admin fees), with interested directors tied to Stone Point/Adviser; McDonald is independent and not affiliated; independent directors/families did not own Adviser/affiliate securities, reducing conflict exposure .
- Engagement: Committee roles and fund‑complex governance breadth suggest high engagement; attendance meets policy thresholds .
RED FLAGS
- Compensation mix: 100% cash retainer and no equity grants can weaken pay‑for‑performance alignment for directors versus equity‑linked structures used at some operating companies .
- Adviser/affiliate interlocks: Presence of two interested directors (Adviser and Stone Point) requires continued robust independent oversight (McDonald is independent) .
- Dilution/governance change risk: Pending conversion to a Delaware statutory trust expands board flexibility to issue unlimited shares and modifies shareholder rights; while board asserts benefits, it increases potential dilution and anti‑takeover defenses; independent directors (including McDonald) supported the proposal .
Overall, McDonald’s profile indicates a financially literate, independent director with strong committee participation and attendance, moderate direct ownership, and limited conflict exposure, set against a fund‑complex governance model with cash‑only director pay and adviser interlocks requiring vigilant independent oversight .