Laura Donovan
About Laura Donovan
Laura T. Donovan (born 1976) serves as Chief Compliance Officer (CCO) of Eaton Vance Floating-Rate Income Trust (EFT) and has held the officer role since 2024; she is a Vice President of Eaton Vance and Boston Management and Research (BMR) and an officer across the Eaton Vance fund complex of registered investment companies . Officers of the Fund hold indefinite terms of office, and their business address is One Post Office Square, Boston, MA 02109 . The Board’s Compliance Reports and Regulatory Matters Committee serves as a liaison to the Fund’s CCO, reflecting formal governance interaction with the compliance function . As of December 30, 2024, the Trustees and executive officers, individually and as a group, beneficially owned less than 1% of the Fund’s outstanding Common Shares and/or VRTPS, underscoring limited insider equity exposure at the fund level .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Eaton Vance Floating-Rate Income Trust (EFT) | Chief Compliance Officer | 2024–Present | Fund-level compliance leadership; liaison via Board’s Compliance Reports and Regulatory Matters Committee |
| Eaton Vance and Boston Management and Research (BMR) | Vice President | Past five years (per proxy) | Officer across 123–127 registered investment companies in the Eaton Vance complex, supporting governance/compliance across the platform |
External Roles
No external directorships or roles are disclosed for Donovan in the EFT proxy officer biographies .
Fixed Compensation
- The proxy provides detailed remuneration only for noninterested Trustees; it does not disclose officer-level base salary, target/actual bonuses, or cash compensation for Fund officers (officers are listed only with positions and affiliations to Eaton Vance/BMR) .
- Because of their positions with Eaton Vance and their ownership of Morgan Stanley stock, officers will benefit from any advisory and/or administration fees paid by the Fund to Eaton Vance (indicating compensation is set at the adviser level, not the Fund) .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for Fund officers in DEF 14A | — | — | — | — | — |
| Notes: The proxy does not disclose performance metrics, incentive plan structures (e.g., PSUs/RSUs/options), or payout outcomes for Fund officers . |
Equity Ownership & Alignment
| Item | Value | As Of | Source |
|---|---|---|---|
| Trustees and executive officers beneficial ownership (group) | <1% of outstanding Common Shares and/or VRTPS | Dec 30, 2024 | |
| Laura Donovan – individual fund share ownership | Not individually disclosed | Dec 30, 2024 | |
| Pledging/hedging disclosures | Not disclosed for officers | — | |
| Alignment via adviser affiliation | Officers are employees of Eaton Vance/BMR and, due to positions and Morgan Stanley stock ownership, will benefit from advisory/administration fees paid by the Fund to Eaton Vance | Jan 27, 2025 |
Employment Terms
| Term | Details | Source |
|---|---|---|
| Office/role | CCO of EFT; officer since 2024 | |
| Term of office | Officers hold indefinite terms of office | |
| Employer affiliation | Vice President of Eaton Vance and BMR; officer across 123 registered investment companies | |
| Board/CCO interface | Compliance Reports and Regulatory Matters Committee serves as liaison with the Fund’s CCO | |
| Business address | One Post Office Square, Boston, MA 02109 | |
| Severance/COC/contract terms | Not disclosed for Fund officers | |
| Non-compete/non-solicit/garden leave | Not disclosed for Fund officers | |
| Clawbacks/tax gross-ups | Not disclosed for Fund officers |
Additional Governance/Disclosure Notes
- Section 16(a) compliance: Based on review of forms received, all Trustees and officers complied with Section 16(a) filings for the most recent fiscal year .
- Trustee compensation context (for governance benchmarking): Noninterested Trustees receive retainers and committee-related fees paid pro rata by funds in the complex; individual trustee compensation amounts are disclosed, but these do not pertain to officer pay .
Investment Implications
- Low insider ownership and absence of disclosed officer equity awards suggest minimal direct insider selling pressure from Fund officers; group beneficial ownership was <1% as of Dec 30, 2024 .
- Compensation disclosure indicates officers are adviser employees (Eaton Vance/BMR) who “will benefit” from fees paid by the Fund and have Morgan Stanley stock ownership, aligning their incentives more with the adviser’s broader business than with EFT’s share price, which may dilute fund-level pay-for-performance alignment for the CCO role .
- Governance and compliance oversight are formalized: the Compliance Reports and Regulatory Matters Committee directly liaises with the CCO, indicating structured compliance risk management—a positive for operational and regulatory risk mitigation .
- No red flags surfaced in the proxy regarding Section 16(a) delinquencies, severance/change-of-control terms, hedging/pledging by officers, or related party transactions beyond standard adviser affiliation disclosures .