Nancy Wiser Stefani

About Nancy Wiser Stefani

Nancy Wiser Stefani (born 1967) is a noninterested Trustee of Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW), serving on the Eaton Vance Fund Boards since 2022, with her ETW Class I term expiring in 2027 . She brings over 30 years of investment management and financial services experience, including governance and operations leadership at Wells Fargo Asset Management (WFAM) from 2011–2021, where she chaired WFAM’s UK and Luxembourg legal entity boards and Luxembourg funds and served as Treasurer for the Wells Fargo Funds from 2012–2021 . She is currently a corporate Director for Rimes Technologies (since 2022) and serves on the University of Minnesota Foundation Board of Trustees (since 2022), with prior non-profit board service including Providence College’s Business Advisory Board, Boston Scores, and the National Black MBA Advisory Board .

Past Roles

External Roles

Board Governance

• Independence: All current Trustees are noninterested under the Investment Company Act of 1940; the ETW Board is composed entirely of noninterested Trustees .
• Committee memberships: Audit Committee member; Audit Committee comprises Messrs. Wennerholm (Chair), Gorman, Quinton and Ms. Stefani; Gorman and Wennerholm designated “audit committee financial experts” and all members are independent under NYSE listing standards .
• Meeting cadence and attendance: In FY2024, the Board met 8 times; Audit Committee met 10; Contract Review 5; Governance 5; Portfolio Management 7; Compliance Reports & Regulatory Matters 8; the predecessor Ad Hoc Closed-End Fund Committee met 10 times; each Trustee attended at least 75% of Board/Committee meetings for which they served .
• Shareholder meeting attendance: None of the Trustees attended the Funds’ 2024 Annual Meeting of Shareholders .
• Tenure policy: Noninterested Trustees must retire by July 1 following their 76th birthday or by December 31 of their 20th year of service (subject to Section 16/SEC compliance constraints) .
• Selection criteria: Governance Committee considers mutual fund knowledge, public company director/officer experience, education, ethics, complementary skills, commitment to attend and collaborate, ability to qualify as noninterested, and potential conflicts when nominating Trustees .

Fixed Compensation

• Structure: Noninterested Trustees receive an annual retainer and a committee service component; additional retainers apply for chair roles and service on ≥4 committees; paid pro rata by each Fund based on average net assets across the Eaton Vance complex .

• Deferred Compensation Plan: Eligible Trustees may defer fees into shares of one or more Eaton Vance funds; deferred fee value is determined by performance of elected investments; no Fund pension or retirement plan for Trustees .

Performance Compensation

Interpretation: ETW’s Trustee pay is retainer-based and committee-linked; there are no disclosed performance metrics, equity awards, options, or incentive structures tied to TSR, revenue, or ESG for Trustees .

Other Directorships & Interlocks

Expertise & Qualifications

• Operations, governance, and compliance expertise from senior roles at WFAM, including cross-border fund/legal entity chair responsibilities and fund treasury leadership, align with audit, valuation, and regulatory oversight needs of closed-end funds .
• Board selection criteria emphasize fund industry knowledge, director/officer experience, ethics, complementary skills, attendance commitment, and conflict-free status; Ms. Stefani’s background matches these attributes .

Equity Ownership

Governance Assessment

• Strengths:

  • Independent director with relevant operations/compliance governance experience, including fund legal entity chair roles and fund treasury oversight, supporting effective risk, valuation, and reporting oversight .
  • Active Audit Committee membership alongside designated “financial experts,” reinforcing financial reporting and audit quality oversight; committee independence aligns with NYSE standards .
  • Attendance met the ≥75% threshold across Board/Committee meetings in FY2024, consistent with governance expectations for engagement .

• Considerations / potential red flags:

  • None of the Trustees attended the 2024 Annual Meeting of Shareholders, which may be perceived as limited direct shareholder engagement for the period .
  • ETW-level alignment: Trustees (including Ms. Stefani) did not beneficially own ETW shares as of Jan 28, 2025; while deferral into the broader fund family is possible, lack of fund-specific ownership may be viewed as weaker direct alignment with ETW outcomes .
  • External role at Rimes Technologies is notable given potential intersections with data and operations; the proxy provides no details on any transactions with ETW, so ongoing monitoring for related-party exposure is prudent .

• Overall signal:

  • Retainer-based, committee-linked compensation structure without performance metrics is standard for closed-end fund Trustees and supports independence; audit committee service and independence status bolster investor confidence in financial oversight .
  • The absence of ETW share ownership and non-attendance at the 2024 shareholder meeting are modest alignment/engagement concerns to track over time .