George J. Gorman
About George J. Gorman
Independent Trustee of Eaton Vance Senior Income Trust (EVF), year of birth 1952, serving since 2014 and currently a Class III Trustee with term expiring in 2025. Chairperson of the Contract Review Committee; career includes Senior Partner in Ernst & Young LLP’s Asset Management Group (1974–2009) auditing SEC‑registered mutual funds, hedge funds, and private equity funds. Education: B.S., cum laude, Duquesne University; MBA, Amos Tuck School (Dartmouth); licensed CPA in New York and Massachusetts .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ernst & Young LLP | Senior Partner, Asset Management Group | 1974–2009 | Led audit engagement teams for mutual funds, hedge funds, and private equity funds . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Bank of America Money Market Funds Series Trust | Independent Trustee | 2011–2014 | Mutual fund complex . |
| Ashmore Funds | Independent Trustee | 2010–2014 | Mutual fund complex . |
| Other public company directorships (last five years) | None | — | As disclosed in EVF proxy . |
Board Governance
- Independence: Noninterested Trustee under the 1940 Act; Audit Committee members (including Gorman) are independent under NYSE listing standards .
- Committee assignments and roles:
- Audit Committee: Member; designated as an “audit committee financial expert” by the Board .
- Contract Review Committee: Chairperson; oversees service provider contracts and conflicts involving Eaton Vance or affiliates .
- Portfolio Management Committee: Member; oversight of portfolio management, trading policies, risk management, performance monitoring .
| EVF Board and Committee Meetings (FY ended June 30, 2025) | Count |
|---|---|
| Board of Trustees meetings | 10 |
| Audit Committee | 10 |
| Contract Review Committee | 5 |
| Governance Committee | 6 |
| Portfolio Management Committee | 7 |
| Compliance Reports & Regulatory Matters Committee | 8 |
| Closed‑End Fund Committee | 4 (plus predecessor Ad Hoc met 5 times) |
- Attendance and engagement: Each Trustee attended at least 75% of Board and Committee meetings; none of the Trustees attended the Fund’s 2024 Annual Meeting of Shareholders .
Fixed Compensation
- Structure (Fund complex schedule applied pro rata across funds based on average net assets):
- Annual retainer: $325,000
- Chair of noninterested Trustees retainer: $150,000
- Committee service retainer: $82,500
- Additional retainer for serving on four or more committees: $15,000
- Committee Chair retainer: $35,000 (split if co‑chairs)
- Out‑of‑pocket expenses reimbursed .
| Compensation (EVF/EV Fund Complex) | FY 2025 EVF (Fund) | CY 2024 Fund Complex |
|---|---|---|
| Total compensation attributable to EVF | $1,340 (includes $154 deferred) | — |
| Total compensation from Fund Complex | — | $545,000 |
- Deferred Compensation Plan: Trustees may elect to defer fees into Eaton Vance funds; Gorman deferred $154 in 2024; EVF has no pension/retirement plan for Trustees .
Performance Compensation
| Performance‑Based Elements | Details |
|---|---|
| Bonuses / variable cash | None disclosed; trustee pay comprised of retainers and committee fees . |
| Equity awards (RSUs/PSUs), options | None disclosed; only fee deferrals into fund shares are available . |
| Metrics tied to pay (TSR/EBITDA/ESG, etc.) | None disclosed for Trustees . |
| Clawbacks / gross‑ups | Not disclosed for Trustees . |
Other Directorships & Interlocks
| Category | Current | Prior |
|---|---|---|
| Public company boards | None | — |
| Fund complex boards | — | Bank of America Money Market Funds (2011–2014); Ashmore Funds (2010–2014) |
| Interlocks with EVF competitors/suppliers/customers | Not disclosed | — |
Expertise & Qualifications
- Audit and financial reporting expertise; designated audit committee financial expert .
- Decades of asset management audit leadership (EY), covering SEC‑registered funds, hedge funds, private equity funds .
- CPA in NY and MA; MBA (Tuck), BS (Duquesne) .
Equity Ownership
| Ownership Category | Amount |
|---|---|
| EVF shares beneficially owned (as of July 29, 2025) | None (only Mr. Quinton reported EVF holdings; Trustees and officers as a group <1% of EVF outstanding) |
| Aggregate dollar range of equity in Eaton Vance family of funds overseen | Over $100,000 |
| Deferred fees invested (2024) | $154 (via Deferred Compensation Plan) |
| Pledging/hedging of EVF stock | Not disclosed |
Governance Assessment
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Strengths:
- Independence and technical depth: Noninterested Trustee, Audit Committee member, and designated financial expert; strong audit pedigree supports oversight of financial reporting, controls, and auditor independence .
- Conflict oversight: As Chair of the Contract Review Committee, Gorman leads review of service provider contracts and conflicts, including Eaton Vance affiliates—central to protecting shareholders in a managed fund structure .
- Structured compensation with optional deferral into fund shares; no performance‑based incentives that could misalign director judgment .
-
Alignment considerations:
- No direct EVF share ownership disclosed, though Gorman has over $100,000 aggregated across Eaton Vance funds; Trustees and officers collectively own <1% of EVF—indicates limited EVF‑specific “skin‑in‑the‑game” .
-
Risk indicators and monitoring:
- None of the Trustees attended the Fund’s 2024 Annual Meeting—an investor‑engagement concern; monitor 2025 attendance .
- Auditor non‑audit services to Eaton Vance affiliates were modest ($18,490 in 2025 and 2024), and the Audit Committee considered independence—continue oversight given adviser relationships .
-
RED FLAGS:
- Limited direct ownership in EVF shares by Gorman (none disclosed) could be perceived as weak alignment at the individual fund level .
- Absence at the 2024 Annual Meeting (applies to all Trustees) may signal low direct shareholder engagement .