Christopher Berarducci
About Christopher Berarducci
Christopher Berarducci is Treasurer and Principal Financial Officer of ClearBridge Energy Midstream Opportunity Fund Inc. (EMO), serving since 2019; his birth year is 1974 . He is Vice President, Fund Administration and Reporting at Franklin Templeton (since 2020) and previously held roles at Legg Mason & Co. as Managing Director (2020), Director (2015–2020), and Vice President (2011–2015) . As EMO’s Principal Financial Officer, he certifies reports (SOX 906 certification for the period ended May 31, 2025, signed July 29, 2025) and signs registration statements (Aug 14, 2025; Sep 12, 2025), underscoring accountability for financial reporting and controls .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Franklin Templeton | Vice President, Fund Administration and Reporting | 2020–present | — |
| EMO | Treasurer and Principal Financial Officer | 2019–present | — |
| Legg Mason & Co. | Managing Director | 2020 | — |
| Legg Mason & Co. | Director | 2015–2020 | — |
| Legg Mason & Co. | Vice President | 2011–2015 | — |
External Roles
No external board or public company roles are disclosed for Berarducci in EMO’s officer biographies and related officer listings reviewed .
Fixed Compensation
Officers (including Treasurer/Principal Financial Officer) receive no compensation from the Fund; they may be reimbursed for reasonable out-of-pocket travel expenses to attend Board meetings . EMO’s filings do not disclose Franklin Templeton (adviser) employment pay details for Berarducci .
| Component | EMO Pays? | Notes |
|---|---|---|
| Base salary | No | “Officers of the Fund receive no compensation from the Fund” |
| Target/actual cash bonus | No | Not paid by EMO; not disclosed at Fund level |
| Pension/SERP from EMO | No | No officer compensation from EMO |
| Perquisites from EMO | Limited | Travel expense reimbursement only |
Performance Compensation
EMO does not pay performance-based compensation (bonuses, stock, or options) to officers; no Fund-level performance metric linkages (revenue, EBITDA, TSR, ESG) are disclosed for officers .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not applicable (no Fund-paid incentives for officers) | — | — | — | — | — |
Equity Ownership & Alignment
- Directors, nominees, and officers of the Fund as a group beneficially owned less than 1% of EMO’s outstanding Common and Preferred Shares as of Feb 7, 2025, indicating limited group equity exposure at the Fund level .
- Individual officer ownership levels, pledging, or hedging by Berarducci are not disclosed in the reviewed filings .
Employment Terms
- Officers are elected annually by the Board and serve until successors are elected and qualified; EMO does not compensate officers aside from potential travel reimbursement .
- EMO’s filings do not disclose employment agreements, severance, change-of-control provisions, non-competes, or consulting arrangements for officers (these individuals are employees of Franklin Templeton affiliates, not the Fund) .
Additional Accountability/Compliance Signals
| Item | Detail |
|---|---|
| SOX 906 certification | Berarducci certified the Form N-CSR for period ended May 31, 2025 on July 29, 2025 as Principal Financial Officer |
| Registration signatures | Signed N-2/A shelf documents on Aug 14, 2025 and POS EX on Sep 12, 2025 as Treasurer and PFO |
| Section 16 compliance | EMO believes all Section 16(a) filing requirements were met for FY ended Nov 30, 2024 (covers directors and officers) |
Investment Implications
- Pay-for-performance alignment at the Fund level is minimal for officers because EMO does not pay them; incentives and retention risk sit at Franklin Templeton (not disclosed here), reducing direct Fund-level alignment and insider selling pressure tied to EMO awards .
- Low disclosed equity ownership at the group level (<1%) suggests limited “skin in the game” at EMO among directors/officers collectively; individual officer ownership details are not provided, limiting visibility into direct alignment for Berarducci .
- Strong compliance/accountability posture is evidenced by repeated PFO signatures on registration statements and timely SOX certifications, which supports confidence in reporting rigor but does not by itself signal performance alpha .