R. Kelly Williams Jr.
About R. Kelly Williams Jr.
R. Kelly Williams Jr. (born 1971) serves as President of Eaton Vance Enhanced Equity Income Fund (EOI) and has held this officer role since 2023; he is concurrently President and Chief Operating Officer of Atlanta Capital Management Company, LLC, an Eaton Vance affiliate . He signed the Fund’s 2024 and 2025 definitive proxies in his capacity as President, evidencing continuing tenure and responsibility for Fund shareholder communications . As a performance context during his tenure, EOI delivered a 1-year NAV total return of 31.26% and a 10-year NAV total return of 10.83% as of March 31, 2024 (market-price 1-year 29.67%; 10-year 11.48%) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Atlanta Capital Management Company, LLC | President & Chief Operating Officer | Past five years (as disclosed) | Senior operating leadership of the Fund’s affiliated adviser supporting fund management and operations |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Eaton Vance/BMR registered investment companies | Officer of multiple registered funds | 2024: officer of 20 funds; 2025: officer of 18 funds | Demonstrates broad governance/operational oversight across the complex |
| Atlanta Capital Management Company, LLC | Authorized Signatory on Schedule 13G/A filings | 2025 | Signed as “Kelly Williams” for Atlanta Capital and an affiliated fund on multiple 13G/A submissions, indicating legal/filing authority at the adviser and related entities |
Fixed Compensation
Fund proxies disclose remuneration for noninterested Trustees but do not provide cash or equity compensation details for Fund officers; officers are employees of the adviser (Eaton Vance/affiliates) and, due to their positions and Morgan Stanley stock ownership, benefit indirectly from advisory/administration fees paid by the Fund to Eaton Vance .
Trustee remuneration schedule (for context on disclosed compensation at the Fund level):
| Component | Amount | Notes |
|---|---|---|
| Annual retainer (noninterested Trustees) | $325,000 | Pro rata charged to each fund in complex |
| Chairperson of noninterested Trustees (additional) | $150,000 | Additional annual retainer |
| Committee service (additional) | $82,500 | Additional annual retainer |
| Four or more Committees (additional) | $15,000 | Additional annual retainer |
| Committee Chairperson (additional) | $35,000 | Additional annual retainer, split if co-chairs |
Performance Compensation
Not disclosed for Fund officers in the proxy; no targets, weightings, or payout formulas for EOI officers are provided. Officers are employees of Eaton Vance affiliates and compensation is determined at the adviser level rather than by the Fund .
Equity Ownership & Alignment
- Officers’ alignment with Fund economics is indirect: “Because of their positions with Eaton Vance and their ownership of Morgan Stanley stock, the officers of the Fund will benefit from any advisory and/or administration fees paid by the Fund to Eaton Vance.” This ties economic interest to advisory fee/AUM dynamics rather than direct EOI share ownership .
- Trustee share ownership (for board alignment context): as of April 29, 2025, one Trustee (Keith Quinton) held $50,001–$100,000 of EOI shares; no other Trustee held Fund shares, while Trustees generally reported “Over $100,000” in the Eaton Vance fund family aggregate .
Employment Terms
The EOI proxy does not disclose officer employment contracts, severance, change-of-control terms, clawbacks, non-compete/non-solicit, or consulting arrangements for Fund officers. Officers serve indefinite terms of office and are affiliated with the adviser .
Fund Performance Context (TSR proxy)
| Metric | Ten Years | Five Years | One Year | Six Months |
|---|---|---|---|---|
| Fund at NAV (average annual total returns as of 3/31/2024) | 10.83% | 13.03% | 31.26% | 24.13% |
| Fund at Market Price (average annual total returns as of 3/31/2024) | 11.48% | 13.00% | 29.67% | 19.57% |
| S&P 500 Index (for reference) | 12.95% | 15.03% | 29.88% | 23.48% |
Additional distribution/valuation context (as of 3/31/2024): Distribution rate at NAV 6.96%; distribution rate at market price 7.21%; premium/discount to NAV of (3.49%) .
Governance Notes Relevant to Compensation Alignment
- Officers hold indefinite terms; as adviser-affiliated personnel, they may hold comparable positions across many Eaton Vance funds (18–20 funds), concentrating influence and creating economies of scale but aligning primary incentives with adviser outcomes .
- Board compensation is standardized and paid pro rata across the fund complex; the proxy includes extensive detail on trustee fees but not on officer pay structures, indicating officer compensation is outside the Fund’s purview .
Investment Implications
- Pay-for-performance visibility at the Fund level is limited for officers: EOI does not set or disclose officer cash/equity incentives or performance metrics; officer pay is determined by the adviser (Eaton Vance/Atlanta Capital), so investor evaluation should focus on adviser-level incentives (advisory fees/AUM, firm performance) rather than EOI-specific equity awards .
- Alignment is indirect: officers benefit via Morgan Stanley stock and advisory/administration fees; this can align with AUM growth and long-term performance but may not directly tie to EOI discount management or distribution policy—areas that drive shareholder TSR in closed-end funds .
- Retention and key-person risk sit at the adviser: Williams’ broad responsibilities (officer of 18–20 registered funds; President & COO of Atlanta Capital) imply scale and continuity; retention risk is more dependent on Atlanta Capital’s compensation and career path than on EOI board decisions .
- Trading signals: No EOI officer insider transaction details are disclosed in the proxy, and officer Form 4 analytics were not available in these documents; investors should monitor future Section 16 filings for any material selling/buying by Fund officers or trustees. The presence of Williams as an authorized signatory on adviser-related 13G/As signals operational authority but not personal EOI share activity .