Jeffrey L. Weiss
About Jeffrey L. Weiss
Jeffrey L. Weiss (age 64) is a Class I independent director of Eagle Point Income Company Inc. (EIC), serving since inception, with his current term expiring at the 2027 annual meeting. He is the Board’s Lead Independent Director and chairs the Audit Committee; he also serves on the Nominating Committee. Weiss is Managing Partner of Colter Lewis Investment Partners LLC (since January 2018) and a private investor (since 2012). He previously held senior leadership roles at Lehman Brothers and Barclays, including Global Head of Financial Institutions at Barclays (2008–2012). He holds a B.S. from the University of Wisconsin .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Barclays | Global Head of Financial Institutions | 2008–2012 | Senior leadership of FIG businesses |
| Lehman Brothers | Managing Director; Management Committee member | MD tenure prior to 2008; Management Committee 2005–2008 | Responsible for financial institutions group businesses (2007–2008) |
| Colter Lewis Investment Partners LLC | Managing Partner | Since Jan 2018 | Private investment leadership |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Eagle Point Credit Company Inc. | Independent Director | Current | Chair, Audit Committee; Member, Nominating Committee |
| Eagle Point Institutional Income Fund | Independent Trustee | Current | Chair, Audit Committee; Member, Nominating Committee |
| Eagle Point Enhanced Income Trust | Independent Trustee | Current | Chair, Audit Committee; Member, Nominating Committee |
| Eagle Point Defensive Income Trust | Independent Trustee | Current | Chair, Audit Committee; Member, Nominating Committee |
Board Governance
- Independence: Weiss is one of four Independent Directors meeting 1940 Act, SEC Rule 10A-3, and NYSE independence standards; he serves as Lead Independent Director .
- Committee assignments: Chair, Audit Committee; Member, Nominating Committee .
- Attendance: In FY2024 the Board held 5 meetings; Audit Committee 5; Nominating Committee 3; each Director attended at least 75% of Board and committee meetings on which they served; all six Directors attended the 2024 annual meeting .
- Other public boards: No director (including Weiss) served on public company boards outside the Eagle Point fund complex in the last five years .
Committee Structure and Mandates
- Audit Committee: All Independent Directors are members; financially literate, with at least one member having accounting/financial management expertise. Oversees independent auditor, functions as Qualified Legal Compliance Committee, and manages confidential reporting of material violations. Weiss serves as Chair; charter available on company website .
- Nominating Committee: All Independent Directors; oversees Board/committee self-assessments, selection and nomination of Independent Directors, and recommends Independent Director compensation (no separate compensation committee). Appleby serves as Chair; charter available on company website .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual Independent Director fee (EIC) | $60,000 | Standard cash retainer |
| Audit Committee Chair fee (EIC) | $10,000 | Additional cash for chair responsibilities |
| Total Aggregate Compensation from EIC (FY2024) | $70,000 | Per compensation table; timing footnotes apply |
| Aggregate Compensation from Fund Complex (FY2024) | $207,500 | Sum across EIC, ECC, EIF, EEIT, EDIT; timing footnotes apply |
| Expenses | Reasonable out-of-pocket | Reimbursed for meeting attendance |
| Pensions/Retirement | None | Directors do not receive pension/retirement benefits |
Performance Compensation
| Metric Type | Disclosure | Details |
|---|---|---|
| Equity awards (RSUs/PSUs) | None disclosed | No stock awards for directors in proxy |
| Stock options | None disclosed | No options or option-related terms disclosed |
| Bonus/variable pay | None disclosed | Director pay is fixed cash retainer plus chair fees |
| Performance metrics (TSR, revenue, EBITDA, ESG) | None disclosed | No director performance metrics tied to compensation |
| Clawbacks/COC/Severance | None disclosed | Not applicable to director compensation framework |
Assessment: Director compensation is predominantly fixed cash with committee-chair differentials; no equity or performance-linked incentives were disclosed, aligning with typical closed-end fund governance where director independence and oversight—not pay-for-performance—are prioritized .
Other Directorships & Interlocks
| Counterparty | Relationship | Potential Interlock/Conflict Consideration |
|---|---|---|
| Stone Point Capital | Affiliate of Adviser; certain principals sit on Adviser’s Board of Managers | James R. Matthews (interested director) is a Stone Point Managing Director; Adviser primarily owned by Trident Funds via intermediaries, with Enstar affiliate indirect interest—heightens related-party awareness; mitigated by independent-only committee membership and Audit Committee QLCC role |
| Eagle Point Credit Management LLC / Eagle Point Income Management LLC | Adviser/Administrator affiliates | Independent Directors and immediate family members did not own securities of the Adviser or its control persons as of record date (reduces direct financial conflicts) |
Expertise & Qualifications
- Extensive financial institutions and capital markets experience (Lehman, Barclays), including senior leadership and management committee roles .
- Audit committee leadership across multiple registered investment companies; the Audit Committee is composed entirely of Independent Directors, financially literate, with accounting/financial management expertise among members .
- Education: B.S., University of Wisconsin .
Equity Ownership
| Ownership Metric | Value | Notes |
|---|---|---|
| Common shares beneficially owned | 3,500 | As of Mar 31, 2025 record date |
| Percent of common shares outstanding | ~0.0138% | 3,500 ÷ 25,409,702 outstanding |
| Preferred shares beneficially owned | None disclosed | No preferred holdings listed for Weiss |
| Dollar range (Company) | $10,001–$50,000 | Based on SEC-defined ranges |
| Dollar range (Fund Complex aggregate) | Over $100,000 | Fund complex includes EIC, ECC, EIF, EEIT, EDIT |
| Pledged/hedged shares | Not disclosed | No pledging/hedging disclosure for Weiss |
| Adviser/affiliate securities owned (Ind. Directors) | None | Company reports none for Independent Directors or immediate family members |
Governance Assessment
-
Strengths:
- Lead Independent Director and Audit Committee Chair roles underscore board independence and financial oversight rigor .
- Full independent membership on Audit and Nominating Committees, with documented charters and QLCC function—robust compliance and audit independence .
- Attendance threshold met (≥75%) across Board and committees; active participation indicated by five Board and five Audit meetings in FY2024 .
- No independent director ownership of Adviser securities reduces direct related-party exposure .
-
Watch items / potential conflicts:
- Adviser governance includes Stone Point principals; an interested director (Matthews) is affiliated with Stone Point, and Adviser ownership includes Trident Funds and Enstar affiliates—necessitates continued vigilance over related-party transactions and fee arrangements; current structure mitigated by independent-only committees and QLCC oversight .
- Ownership alignment is modest in absolute share count; while typical for closed-end funds, investors may prefer higher personal stake to strengthen alignment .
-
Net view: Weiss’s profile reflects strong audit/compliance leadership, independence, and relevant financial institutions expertise. The principal governance sensitivity is the broader fund complex/adviser affiliation structure; EIC’s independent committee design and QLCC role are appropriate mitigants supporting investor confidence .
References:
- Board composition, independence, Lead Independent Director designation .
- Director biography, age, roles, education .
- Committee charters, membership, mandates (Audit/Nominating) and Weiss as Audit Chair .
- Meetings and attendance statistics .
- Director compensation structure and amounts (EIC and fund complex) .
- Beneficial ownership counts and ranges; no Adviser securities owned by Independent Directors .
- Adviser/Administrator ownership and related-party disclosures .