George J. Gorman

About George J. Gorman

George J. Gorman (year of birth: 1952) serves as Chairperson of the Board and noninterested Trustee for Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) and related Eaton Vance closed-end funds; he has been a Trustee since 2014 and Chairperson since 2021, with his current ETW term classified as Class II expiring in 2025 . He is Principal at George J. Gorman LLC and formerly a Senior Partner at Ernst & Young LLP (1974–2009), and is designated by the Board as an “audit committee financial expert” . The Board is comprised entirely of noninterested Trustees under the Investment Company Act of 1940 .

Past Roles

External Roles

Board Governance

• Independence: Noninterested Trustee; Audit Committee members (incl. Gorman) are independent under NYSE standards; Gorman designated audit committee financial expert .
• Board/Committee activity and attendance: Board met 8 times in FY2024; Audit 10; Contract Review 5; Governance 5; Portfolio Management 7; Compliance 8; Closed-End predecessor committee met 10; each Trustee attended at least 75% of the Board/committee meetings on which they serve; none attended the Funds’ 2024 Annual Meeting of Shareholders .

• Board Chair responsibilities: The Chairperson (Gorman) sets agendas, presides over meetings, liaises with service providers, and may perform other functions as requested; the Board remains noninterested and has established six committees for oversight .

Fixed Compensation

• Compensation structure (pro rata by fund assets across the Eaton Vance fund complex):
  • Annual retainer: $325,000
  • Additional retainer for Chairperson of noninterested Trustees: $150,000
  • Committee service retainer: $82,500
  • Additional retainer for serving on ≥4 committees: $15,000
  • Committee Chair retainer: $35,000 (split if Co-Chairs)
  • Out-of-pocket expenses reimbursed (aggregate across Trustees): $96,845 in calendar 2024

Performance Compensation

• No performance-based pay (no RSUs/PSUs/options or explicit performance metrics for Trustees) disclosed in the proxy .

Other Directorships & Interlocks

Expertise & Qualifications

• Principal at George J. Gorman LLC; formerly Senior Partner at Ernst & Young LLP (1974–2009) .
• Board-designated audit committee financial expert; supports robust oversight of financial reporting and auditor independence .
• Board member is noninterested under the 1940 Act; Board has defined qualifications including ethical standards, financial/technical expertise, and commitment to attendance and collaboration .

Equity Ownership

Governance Assessment

• Strengths

  • Independence and oversight: Board entirely noninterested; Gorman is designated as an audit committee financial expert and serves on key oversight committees (Audit, Contract Review, Governance), enhancing financial rigor and conflict monitoring .
  • Chair leadership: As Board Chairperson, Gorman shapes agendas and facilitates effective information flow between service providers and the Board .
  • Conflict controls: Contract Review Committee explicitly reviews service provider arrangements (including adviser/administrator) and conflicts—Gorman’s membership is a positive signal for investor protection .

• Areas to monitor

  • Engagement optics: None of the Trustees attended the Funds’ 2024 Annual Meeting of Shareholders despite ≥75% committee/Board attendance; this can be perceived as a minor engagement gap .
  • Alignment with ETW specifically: While aggregate holdings across the fund complex exceed $100,000, Trustees held no ETW shares as of the record date—alignment with ETW’s outcomes may rely on deferred compensation elections rather than direct ownership .
  • Compensation scale: As Chair, Gorman’s complex-level cash compensation is substantial ($545,000), with incremental retainers for role and committee service; investors should watch for any upward ratcheting absent clear workload increases .

• RED FLAGS

  • None of the Trustees attended the 2024 Annual Meeting of Shareholders (engagement optics) .
  • No ETW-specific share ownership by Trustees as of Jan 28, 2025 (alignment optics) .

Additional Notes

• Election status: For ETW, Gorman is a Class II Trustee up for election in 2025; the Board recommends voting FOR Trustee nominees .
• Retirement policy: Noninterested Trustees must retire by the first July 1 following their 76th birthday or by December 31 of their 20th year of service (with limited exceptions to maintain Section 16 compliance) .
• Adviser/sub-adviser: Eaton Vance (administrator/adviser; indirect wholly owned subsidiary of Morgan Stanley) and Parametric Portfolio Associates LLC (sub-adviser to ETW) are overseen by the Board and committees; these relationships heighten the importance of Contract Review oversight .

Insider Trades and Section 16 Compliance