Matthew Prasse
About Matthew Prasse
R. Matthew Prasse (Year of Birth: 1983) serves as Chief Legal Officer (since 2022) and Secretary (since 2021) of the Allspring Utilities and High Income Fund (ERH). He is Managing Counsel in the Allspring Legal Department (since 2023), after serving as Senior Counsel (2021–2023); previously Senior Counsel at the Wells Fargo Legal Department (2018–2021), Counsel at Barings LLC (2015–2018), and Associate at Morgan, Lewis & Bockius LLP (2008–2015) . Fund proxies disclose that officers’ compensation is paid by Allspring affiliates (not the Fund), and the Fund’s principal executive officers received no compensation or expense reimbursement from ERH in FY2022–FY2025 . On appointment as Secretary (effective Oct 13, 2021), his initial Form 3 reported no beneficial ownership of ERH shares .
Past Roles
| Organization | Role | Years | Strategic impact/notes |
|---|---|---|---|
| Allspring Legal Department | Managing Counsel | 2023–present | Officer of ERH; Chief Legal Officer since 2022; Secretary since 2021 |
| Allspring Legal Department | Senior Counsel | 2021–2023 | Legal support for fund complex |
| Wells Fargo Legal Department | Senior Counsel | 2018–2021 | Legal counsel prior to Allspring transaction |
| Barings LLC | Counsel | 2015–2018 | Buy-side legal role |
| Morgan, Lewis & Bockius LLP | Associate | 2008–2015 | Law firm experience |
| Allspring Utilities and High Income Fund (ERH) | Secretary | Since Oct 13, 2021 (effective date) | Fund officer; signed Fund proxy materials |
| Allspring Utilities and High Income Fund (ERH) | Chief Legal Officer | Since 2022 | Fund officer |
External Roles
No external directorships or committee roles were disclosed for Mr. Prasse in ERH’s proxy statements .
Fixed Compensation
Fund-level compensation is not paid to ERH officers; remuneration for officers employed by Allspring affiliates is borne by those affiliates. The Fund reports no compensation or expense reimbursement to principal executive officers across FY2022–FY2025.
| Metric | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Officer compensation from ERH ($) | $0; paid by Allspring affiliate | $0; paid by Allspring affiliate | $0; paid by Allspring affiliate | $0; paid by Allspring affiliate |
Performance Compensation
- The ERH proxy does not disclose base salary, target/actual bonuses, equity awards, or performance metric frameworks for officers, as officer compensation is paid by Allspring affiliates rather than the Fund .
Equity Ownership & Alignment
| Filing | Date | Reported beneficial ownership | Notes |
|---|---|---|---|
| Form 3 (Initial Statement) | Oct 18, 2021 | No securities beneficially owned | Filed as “Prasse Richard Matthew”; title shown as Secretary |
| Proxy disclosure (Section 16 access) | Oct 26, 2023 | Forms 3/4/5 accessible via Allspring site; no holdings table provided in proxy | General Section 16 compliance statement |
| Proxy disclosure (Section 16 access) | Oct 23, 2024 | Forms 3/4/5 accessible via Allspring site; no holdings table provided in proxy | General Section 16 compliance statement |
- Pledging/hedging: No pledging or hedging of ERH stock by Mr. Prasse is disclosed in ERH proxies; his Form 3 reported zero holdings as of appointment .
Employment Terms
| Item | Detail |
|---|---|
| Appointment dates | Secretary effective Oct 13, 2021; Chief Legal Officer since 2022 |
| Employment affiliation | Employed within the Allspring Legal Department (Managing Counsel since 2023; previously Senior Counsel) |
| Contract/severance/CoC | Not disclosed at the Fund level; officers’ compensation borne by Allspring affiliates |
Investment Implications
- Alignment and selling pressure: With no ERH shares reported on the initial Form 3, near-term insider selling pressure from Mr. Prasse appears negligible, and direct “skin-in-the-game” via ERH ownership is limited absent subsequent filings .
- Pay-for-performance observability: Because ERH does not pay its officers and compensation is borne by Allspring affiliates, pay mix, targets, and vesting schedules are not observable in ERH filings, limiting assessment of Fund-level pay/performance alignment for this role .
- Role scope vs. value creation: Mr. Prasse’s responsibilities are legal/governance; proxies do not tie his compensation to ERH TSR or fund performance metrics, and no officer performance metric framework is disclosed at the Fund level .