Laura T. Donovan
About Laura T. Donovan
Laura T. Donovan (born 1976) serves as Chief Compliance Officer (CCO) of Eaton Vance Municipal Income 2028 Term Trust and was first elected an officer of the Eaton Vance fund family in 2024; she is a Vice President of Eaton Vance and Boston Management and Research (BMR) and an officer across 122 registered investment companies managed by Eaton Vance or BMR . Officers hold indefinite terms; the business address is One Post Office Square, Boston, MA 02109 . Fund-level disclosures do not present Donovan-specific TSR, revenue, or EBITDA metrics; trustees and executive officers of the Fund, individually and as a group, owned beneficially less than 1% of outstanding Common Shares as of both 2024 and 2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Eaton Vance Management & Boston Management and Research (BMR) | Vice President | Past five years (per proxy disclosure) | Compliance leadership across the Eaton Vance fund complex; officer of 122–127 registered investment companies managed by Eaton Vance/BMR |
External Roles
- Not disclosed in the Fund’s proxy statements .
Fixed Compensation
- Officers are employees of Eaton Vance/BMR; due to their positions with Eaton Vance and ownership of Morgan Stanley stock, officers benefit indirectly from advisory and/or administration fees paid by the Fund to Eaton Vance. The Fund does not disclose officer-level salary, bonus, or equity compensation; only trustee compensation is reported .
Performance Compensation
- Not disclosed for officers at the Fund level (no Donovan-specific targets, metrics, RSU/PSU/option grants, vesting schedules, or payouts reported) .
Equity Ownership & Alignment
| Metric | As of Sep 3, 2024 | As of Aug 26, 2025 |
|---|---|---|
| Trustees and executive officers (group) beneficial ownership (% of outstanding) | Less than 1% | Less than 1% |
| 5%+ beneficial owners | None ≥5% | Rockefeller Capital Management L.P./Rockefeller Financial LLC: 585,604 shares (5.30%) |
- Individual officer (Donovan) holdings, vesting/pledging status, and stock ownership guideline compliance are not disclosed in Fund proxy statements .
Employment Terms
| Item | Disclosure |
|---|---|
| Officer term | Indefinite term of office for Fund officers |
| Employment agreement | Not disclosed (officers are employees of Eaton Vance/BMR, not the Fund) |
| Severance / change-of-control | Not disclosed at the Fund level |
| Clawback / non-compete / non-solicit | Not disclosed at the Fund level |
| Section 16 filings | Trustees and officers complied with Section 16 filings in the most recent fiscal year; no Donovan-specific exceptions noted |
Board Governance (CCO Interface)
| Committee | 2023 Composition | 2024 Composition | 2025 Composition | CCO Interface |
|---|---|---|---|---|
| Compliance Reports & Regulatory Matters Committee | Sutherland (Chair), Wiser, Fetting, Quinton | Sutherland (Chair), Stefani, Fetting, Quinton | Stefani (Chair), Sutherland, Bowser, Quinton | Serves as liaison between the Board and the Fund’s CCO; oversight of compliance issues and regulatory matters |
| Board risk oversight | — | — | — | Board relies on reports from the CCO and service providers for compliance and risk oversight; CCO oversees implementation/testing of the compliance program |
Investment Implications
- Limited pay-for-performance visibility: Officer compensation, incentive design, and vesting mechanics are not disclosed at the Fund level, constraining analysis of alignment, retention levers, and potential insider selling pressure tied to vesting events .
- Ownership alignment appears low at the group level: Trustees and executive officers collectively own less than 1% of outstanding shares, suggesting modest personal capital at risk for Fund insiders; individual officer holdings are not provided .
- Governance interface is robust for compliance: The CRRM Committee formally liaises with the CCO and the Board’s risk oversight processes depend on CCO reporting, which supports strong compliance governance but does not translate into Donovan-specific performance metrics or trading signals .
- Actionable monitoring: Given disclosure limits, monitor Form 3/4/5 filings for Donovan to assess any ownership changes and potential selling pressure, and Item 5.02 8-Ks for officer appointment/compensation changes; current ETX filings do not include Donovan-specific compensation or contract terms .