Kenneth P. Onorio
About Kenneth P. Onorio
Kenneth P. Onorio serves as Chief Financial Officer (CFO) and Chief Operating Officer (COO) of Eagle Point Income Company Inc. (EIC) since inception and is age 57 . He also serves as Senior Principal, CFO and COO of the Adviser and affiliated entities; prior to joining Eagle Point Credit Management LLC in 2014, he was an Executive Director in Private Equity and Hedge Fund Administration at JPMorgan Alternative Investment Services from September 2008 to July 2014, and holds a B.S. from Fordham University with Certified Public Accountant (inactive) status . Officers of EIC are considered interested persons due to their affiliations with the Adviser and its affiliates .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| JPMorgan Alternative Investment Services | Executive Director, Private Equity and Hedge Fund Administration | Sep 2008 – Jul 2014 | Managed hedge fund and private equity fund administration operations |
External Roles
| Organization | Role | Tenure/Years | Notes |
|---|---|---|---|
| Eagle Point Income Company Inc. (EIC) | CFO and COO | Since inception | Officer address c/o EIC; officers are interested persons due to Adviser affiliations |
| Eagle Point Credit Company Inc. | CFO since Jul 2014; COO since Nov 2014 | Ongoing | Also serves as CFO/COO across other Eagle Point vehicles |
| Eagle Point Institutional Income Fund | CFO, Principal Accounting Officer, and COO since Jan 2022 | Ongoing | Fund complex affiliation |
| Eagle Point Enhanced Income Trust | CFO and COO since Aug 2023 | Ongoing | Fund complex affiliation |
| Eagle Point Defensive Income Trust | CFO and COO since Feb 2024 | Ongoing | Fund complex affiliation |
| Adviser and affiliates (Eagle Point Credit Management LLC; Enhanced Income Management LLC; Defensive Income Management LLC) | Senior Principal, CFO and COO | Various: EPCM CFO since Jul 2014; COO since Aug 2014; Adviser roles since Oct 2018; Enhanced since Jun 2023; Defensive since Sep 2023 | Executive leadership across Adviser platform |
Fixed Compensation
- EIC discloses that “none of the Company’s officers is directly compensated by the Company,” indicating base salary, cash bonus, and equity compensation for officers are paid by the Adviser, not EIC .
| Component | Company-level Disclosure | Notes |
|---|---|---|
| Base Salary | Not paid by EIC | Officers are compensated by the Adviser |
| Target/Actual Bonus | Not paid by EIC | No Company-level bonus disclosures for officers |
| Equity Awards (RSUs/PSUs/Options) | Not granted/disclosed by EIC | No Company-level executive equity plans disclosed for officers |
| Pension/SERP/Deferred Comp | Not disclosed by EIC | Officer compensation not at Company level |
| Perquisites/Tax Gross-ups | Not disclosed by EIC | Officer compensation not at Company level |
Performance Compensation
- EIC does not provide officer performance incentive metrics, weightings, or payouts because officers are not compensated by the Company; any incentive structures would be at the Adviser level and are not disclosed in EIC’s proxy .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed by EIC | — | — | — | — | — |
Equity Ownership & Alignment
| Ownership Metric | Value | Notes |
|---|---|---|
| Shares beneficially owned (Common) | 6,691 | Represents less than 1.0% of outstanding common shares |
| Common shares outstanding (Record Date) | 25,409,702 | As disclosed in proxy |
| Preferred shares outstanding (Record Date) | 5,842,532 | As disclosed in proxy |
| Pledged shares | Not disclosed | Proxy does not specify pledging by officers |
| Stock ownership guidelines (officers) | Not disclosed | No officer guidelines detailed; officers are Adviser-affiliated |
Also disclosed: Directors and officers as a group (9 persons) beneficially owned 40,128 common shares and 1,100 preferred shares, each “less than 1.0%” of outstanding .
Employment Terms
| Term | Disclosure |
|---|---|
| Term of Office | Officers “hold office at the pleasure of the Board and until their successors are chosen and qualify, or until their earlier resignation or removal” |
| Officer Status | Officers are “interested persons” due to affiliations with the Adviser and its affiliates |
| Compensation Source | Officers are not directly compensated by EIC (paid by Adviser) |
| Severance / Change-in-Control | Not disclosed in EIC proxy |
| Non-compete / Non-solicit / Garden Leave | Not disclosed in EIC proxy |
| Address (for officers) | c/o Eagle Point Income Company Inc., 600 Steamboat Road, Suite 202, Greenwich, CT 06830 |
Investment Implications
- Limited Company-level pay-for-performance visibility: EIC’s externally managed structure means officer compensation is at the Adviser; therefore base/bonus/equity terms, performance metrics, vesting schedules, and clawbacks are not available in EIC’s proxy, constraining direct alignment analysis at the Company level .
- Small direct ownership in EIC: Onorio’s beneficial ownership of 6,691 common shares is de minimis (<1%), offering limited “skin-in-the-game” alignment via EIC shares, though he holds multiple leadership roles across the Adviser and related funds which reflect platform integration rather than Company-specific equity alignment .
- Governance and retention lens: Officers serve at the pleasure of the Board without Company-level severance/CIC terms disclosed; combined with external compensation at the Adviser, this suggests retention and incentives are primarily governed by Adviser policies and employment arrangements rather than EIC-specific contracts .
- Data gaps on hedging/pledging/clawbacks: The proxy focuses on director compensation and beneficial ownership; officer-level policies on hedging/pledging or clawbacks are not disclosed by EIC, reducing the ability to assess enforcement rigor or potential selling pressure from policy design .