Pamela Wheelock
About Pamela Wheelock
Independent Trustee of Allspring Utilities and High Income Fund (ERH). Trustee since January 2020; previously served as Trustee from January 2018 to July 2019 and Advisory Board member in 2017. Appointed Chair Liaison in July 2024. Year of birth: 1959. Background spans senior finance and operating leadership across public, private, and nonprofit sectors, including interim CEO roles and state finance leadership. Oversees 92 portfolios in the Allspring fund complex as of August 31, 2025 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| McKnight Foundation | Interim President and CEO | 2020 | Executive leadership during transition |
| Minnesota Department of Human Services | Acting Commissioner; Consultant (part-time) | Jul–Sep 2019; Oct–Dec 2019 | State agency leadership and advisory support |
| Twin Cities Habitat for Humanity | Chief Operating Officer | 2017–2019 | Operations leadership at nonprofit |
| University of Minnesota | Vice President for University Services (COO of the University) | 2012–2016 | University operations leadership |
| Blue Cross and Blue Shield of Minnesota | Interim President & CEO | 2011–2012 | Payer executive leadership |
| Minnesota Wild (NHL) | EVP & Chief Financial Officer | 2002–2008 | Corporate finance executive |
| Minnesota Department of Finance | Commissioner | 1999–2002 | State finance leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Destination Medical Center Corporation | Chair of the Board of Directors | Current | Board leadership |
| College of Saint Benedict & Saint John’s University | Board of Trustees (Member) | Since 2025 | Higher education governance |
| Minnesota Wild Foundation | Board Member | 2009–2024 | Nonprofit board service; prior corporate CFO role with Minnesota Wild |
Board Governance
- Independence: The ERH Board is composed of Independent Trustees (not “interested persons” under the 1940 Act); the Audit and Nominating & Governance Committees are comprised of Independent Trustees under applicable listing standards .
- Committee memberships: The Board has a standing Nominating & Governance Committee and a standing Audit Committee, each made up of the Trustees listed in the proxy table—thus Ms. Wheelock serves on both committees .
- Leadership roles: Chair Liaison (appointed July 2024) to coordinate Trustee communications and governance inquiries; this role serves for a one-year term and may be extended by the Board .
- Committee chairs: Nominating & Governance Committee Chair—James G. Polisson (since 2024); Audit Committee Chair—Jane A. Freeman (since 2025) .
- Committee chair fees (structure): The Nominating & Governance Committee Charter provides an additional annual fee to the Committee Chair for added duties (Board-determined) .
- Meeting cadence: Board typically holds four regular in-person meetings and a fifth regular video conference annually; additional special meetings as needed .
- Annual meeting attendance: Ms. Wheelock attended the prior year’s Annual Meeting of Shareholders telephonically, along with other Trustees .
- Election status: Nominee (Class III) for a term expiring at the 2028 Annual Meeting (or until successor elected/qualified) .
Fixed Compensation
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Compensation From ERH (USD) | $2,793 | $2,793 | $4,291 |
| Total Compensation From Fund Complex (USD) | $352,000 | $352,000 | $394,750 |
| Pension/Retirement Benefits | None | None | None |
| Expense Reimbursement Policy | Reimburses Board meeting expenses | Reimburses Board meeting expenses | Reimburses Board meeting expenses |
Notes:
- Trustee compensation is paid by each fund within the Allspring complex; officers’ compensation borne by adviser affiliates (no officer compensation from ERH) .
Performance Compensation
- The trustee compensation disclosures enumerate fixed fees and reimbursements; there is no description of performance-based metrics (e.g., revenue/TSR targets) for Trustees in the proxy compensation section for FY 2023–FY 2025 .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Public company directorships (past 5 years) | None |
| Nonprofit/academic boards | Destination Medical Center Corporation (Chair); CSB/SJU Boards of Trustees; Minnesota Wild Foundation (through 2024) |
| Potential interlocks with ERH ecosystem | None disclosed in proxy; no other public company boards listed |
Expertise & Qualifications
- Finance and operations leadership: Former EVP & CFO (Minnesota Wild), state Finance Commissioner, university operations executive (COO), and interim CEO roles in healthcare and philanthropy—relevant to audit oversight, budgeting, and complex multi-stakeholder governance .
- Fund governance familiarity: Advisory Board member (2017), Trustee (2018–2019; since 2020), and current Chair Liaison—indicating sustained engagement with fund governance .
- Portfolio oversight: Oversees 92 portfolios in the fund complex (as of Aug 31, 2025), implying breadth of oversight exposure .
Equity Ownership
| Metric | Aug 31, 2023 | Aug 31, 2024 | Aug 31, 2025 |
|---|---|---|---|
| Dollar Range of Equity Securities in ERH | $1–$10,000 | $1–$10,000 | $1–$10,000 |
| Aggregate Dollar Range in Fund Complex | Over $100,000 | Over $100,000 | Over $100,000 |
Additional ownership/disclosure notes:
- Section 16(a) reporting: The Fund believes all required ownership reports by officers and Trustees were filed on a timely basis in FY 2023–FY 2025; Forms 3/4/5 available via Allspring website .
Governance Assessment
- Strengths: Independent trustee with deep finance/operations background; serves on both Audit and Nominating & Governance Committees; appointed Chair Liaison to enhance board communications; attended prior annual meeting; no other public company board service reduces interlock risk; audit and governance committees comprised entirely of independent trustees under applicable standards .
- Alignment: Direct ownership in ERH is modest ($1–$10,000), but she holds over $100,000 across the Allspring fund complex, signaling broader platform alignment; no pension benefits; compensation increased in FY 2025 versus FY 2024 consistent with complex-wide fee schedule updates .
- Oversight/Process: Board meets regularly (4 in-person + 1 virtual) with independent counsel; committee charters emphasize independence and oversight rigor; N&G Committee reviews trustee compensation and share ownership policies for independent trustees, supporting governance discipline .
- Watch items: ERH-specific “skin-in-the-game” remains in the lowest dollar band despite long-standing board involvement; no performance-linked trustee pay elements are described (typical for funds but reduces direct pay-for-performance signaling) .
Appendices
- Election slate: Class III nominee with term through 2028 Annual Meeting .
- Committee chair fee provision (N&G): Chair entitled to additional annual fee per charter .
- Annual meeting attendance: Wheelock attended prior year’s meeting telephonically .