Courtney B. Fandrick
About Courtney B. Fandrick
Courtney B. Fandrick, age 42, serves as Secretary of Eagle Point Institutional Income Fund (“EIIA”) since inception and is Principal and Chief Compliance Officer of the Adviser and affiliated administrators; previously Deputy Chief Compliance Officer at Eagle Point entities and Senior Compliance Associate at Bridgewater Associates, LP. She holds a B.A. in Mathematics and Statistics from Miami University and an MBA from the University of Phoenix . EIIA’s proxy indicates fund officers are not directly compensated by the Fund, and no officer-specific performance pay, TSR, or operational performance metrics tied to her compensation are disclosed .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Bridgewater Associates, LP | Senior Compliance Associate | Prior to Dec 2014 | Institutional compliance experience at a large asset manager |
| Eagle Point Credit Management LLC | Deputy Chief Compliance Officer | Dec 2014–Mar 2020 | Built compliance program for credit strategies; promoted thereafter |
| Eagle Point Income Management LLC | Deputy Chief Compliance Officer | Oct 2018–Mar 2020 | Supported compliance infrastructure for income strategies |
| Adviser and affiliates (Eagle Point Income Management LLC; Eagle Point Enhanced Income Management LLC; Eagle Point Defensive Income Management LLC) | Principal and Chief Compliance Officer | Since Mar 2020 (EPIM); Since Jun 2023 (EPEIM); Since Sep 2023 (EPDIM) | Leads firm-wide compliance across multi-credit platforms |
External Roles
| Organization | Role | Start | Notes |
|---|---|---|---|
| Eagle Point Credit Company Inc. | Secretary | Aug 2015 | Closed-end investment company in same fund complex |
| Eagle Point Income Company Inc. | Secretary | Oct 2018 | Closed-end investment company in same fund complex |
| Eagle Point Enhanced Income Trust | Secretary | Aug 2023 | Closed-end investment trust in same fund complex |
| Eagle Point Defensive Income Trust | Secretary | Feb 2024 | Closed-end investment trust in same fund complex |
Fixed Compensation
- Officers are not directly compensated by the Fund; officer compensation is administered through the Administrator with costs allocated to the Fund (covers CFO/COO/CCO and support staff) .
- FY2024 Administrator expenses allocated to the Fund totaled $0.5 million; advisory base management and incentive fees paid to the Adviser totaled $3.6 million for FY2024 (fund-level, not officer-specific) .
Performance Compensation
- The proxy does not disclose any officer-specific incentive plans (bonuses, RSUs/PSUs, options) or performance metric targets for officers; no pay-for-performance framework is provided for the Secretary role .
Equity Ownership & Alignment
- Beneficial ownership at record date (Mar 31, 2025): 1,000 common shares; represents less than 1% of shares outstanding (12,423,963 common shares) .
- No disclosures on pledging, hedging, stock ownership guidelines, or compliance status for officers .
Ownership across filings:
| Metric | Aug 31, 2022 | Feb 29, 2024 | May 31, 2024 | Aug 30, 2024 | Feb 28, 2025 | May 30, 2025 | Aug 29, 2025 |
|---|---|---|---|---|---|---|---|
| Shares Owned (#) | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 |
Notes:
- Filings repeatedly show a stable 1,000-share position with no reported changes around periodic issuer tender offers .
- The proxy’s beneficial ownership table confirms 1,000 shares at the 2025 record date; percent marked “*” (<1.0%) .
Employment Terms
- Officers “hold office at the pleasure of the Board and until their successors are chosen and qualify, or until their earlier resignation or removal” .
- The Board nominates and selects officers; no separate compensation committee exists (Nominating Committee also makes recommendations on Independent Trustee compensation) .
- Several issuer tender offer documents state there are no plans for “any change in any material term of the employment contract of any executive officer,” but specific employment agreement terms, severance, change-of-control, non-compete, or clawbacks for the Secretary are not disclosed .
Investment Implications
- Alignment: Her direct equity stake is minimal at 1,000 shares; no pledging or hedging disclosures are provided, and officers are not paid directly by the Fund, limiting transparency into pay-for-performance alignment at the officer level .
- Retention: Long-tenured compliance leadership with multi-entity responsibilities suggests institutional continuity; however, the absence of disclosed severance/change-of-control terms makes retention economics opaque .
- Trading signals: No insider trading forms or programmatic sales were identified in available fund filings; repeated confirmations of a steady 1,000-share balance across multiple tender-offer documents imply low near-term insider selling pressure from her holdings .
- Governance: Role concentration as Secretary and CCO across the complex underscores reliance on compliance rigor; board oversight occurs via Audit and Nominating Committees, but officer compensation and incentive alignment are not disclosed, limiting evaluative granularity for pay-risk analysis .