Nancy Wiser Stefani
About Nancy Wiser Stefani
Independent Trustee (noninterested under the 1940 Act) of Eaton Vance Senior Income Trust since 2022; born 1967; Class III Trustee with current term expiring in 2025. She chairs the Compliance Reports and Regulatory Matters Committee and brings 35+ years of investment management operations and governance experience, including EVP, Global Head of Operations and Treasurer roles at Wells Fargo Asset Management, and COO/CCO roles at LightBox Capital Management and GMN Capital Management. She holds a B.S. in Business Administration from Providence College and has served as a corporate Director at Rimes Technologies (2022–2024, prior to its acquisition in 2024). She serves on the University of Minnesota Foundation Board of Trustees (since 2022).
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Wells Fargo Asset Management | Executive Vice President, Global Head of Operations; Treasurer of Wells Fargo Funds | 2011–2021 (EVP), 2012–2021 (Treasurer) | Oversaw operations and governance; chaired boards for WFAM UK and Luxembourg legal entities and Luxembourg funds |
| LightBox Capital Management | Chief Operating Officer & Chief Compliance Officer | 2008–2011 | Oversaw all non‑investment activities (COO/CCO) |
| GMN Capital Management | Chief Operating Officer & Chief Compliance Officer | 2006–2007 | Oversaw all non‑investment activities (COO/CCO) |
External Roles
| Organization | Role | Tenure | Public/Private/Non‑profit |
|---|---|---|---|
| Rimes Technologies (London) | Corporate Director | 2022–2024 (prior to acquisition) | Private company director |
| University of Minnesota Foundation | Board of Trustees | Since 2022 | Non‑profit trustee |
| Providence College Business Advisory Board; Boston Scores; National Black MBA Advisory Board | Board member (prior service) | Not specified | Non‑profit board service |
Board Governance
- Independence: Noninterested Trustee under the Investment Company Act of 1940; board composed entirely of noninterested Trustees.
- Committee leadership and memberships: Chairperson, Compliance Reports & Regulatory Matters Committee (2025); member, Contract Review Committee (2025); member, Audit Committee (FY ended June 30, 2024).
- Board structure & leadership: Acting Chairperson of the Board is Susan J. Sutherland (noninterested Trustee) following the passing of former Chair Mark R. Fetting in August 2025; six standing committees including Closed‑End Fund Committee.
- Attendance: During FY ended June 30, 2024, each Trustee attended at least 75% of Board and Committee meetings on which they serve; none of the Trustees attended the Fund’s 2023 Annual Meeting of Shareholders.
- Retirement policy: Noninterested Trustee retirement shifted to the first day of July following the 76th birthday (from 74), or December 31 of the 20th year of service, subject to compliance with SEC rules.
FY 2024 Board and Committee Meeting Activity
| Committee | Meetings (FY ended Jun 30, 2024) |
|---|---|
| Board of Trustees | 10 |
| Audit Committee | 8 |
| Contract Review Committee | 3 |
| Governance Committee | 2 |
| Portfolio Management Committee | 6 |
| Compliance Reports & Regulatory Matters Committee | 7 |
| Ad Hoc Committee for Closed‑End Fund Matters | 5 |
Fixed Compensation
- Compensation structure (Trustees): Annual retainer plus committee service fees; pro‑rated to each fund based on average net assets within the Eaton Vance family of funds. No pension or retirement plan for Trustees; optional Deferred Compensation Plan allows deferral of fees into Eaton Vance funds.
| Component | FY 2024 Schedule | FY 2025 Schedule |
|---|---|---|
| Annual retainer (noninterested Trustee) | $315,000 | $325,000 |
| Additional retainer – Chairperson of noninterested Trustees | $150,000 | $150,000 |
| Committee service retainer | $82,500 | $82,500 |
| Additional retainer – four or more committees | $15,000 (excluding Ad Hoc) | $15,000 |
| Committee Chair retainer | $35,000 (split if co‑chairs) | $35,000 (split if co‑chairs) |
| Ad Hoc Committee Chair | $5,000 per six‑month period (when active) | Not separately described in 2025 schedule |
| Out‑of‑pocket expenses | Reimbursed; $95,050 aggregate (CY 2023) | Reimbursed; $96,845 aggregate (CY 2024) |
Actual Compensation – Nancy Wiser Stefani
| Metric | FY 2024 (Fund) | FY 2025 (Fund) | CY 2023 (Fund Complex) | CY 2024 (Fund Complex) |
|---|---|---|---|---|
| Total compensation | $1,013 | $1,012 | $402,500 | $410,000 |
Notes: Fund payments reflect EVF’s pro‑rata share based on EVF’s average net assets relative to the fund complex. Trustees may defer fees; deferred amounts are indicated for certain Trustees; the Fund does not have a pension or retirement plan for Trustees.
Performance Compensation
| Category | Disclosure | Notes |
|---|---|---|
| Stock awards (RSUs/PSUs) | Not part of Trustee compensation schedule | Trustee pay is cash‑based retainers and committee fees; no equity awards disclosed |
| Option awards | Not part of Trustee compensation schedule | No options disclosed |
| Performance metrics (EBITDA, TSR, ESG) | Not applicable to independent Trustees | Compensation not tied to operating/market performance metrics |
| Clawback provisions | Not disclosed for Trustee fees | Deferred Compensation Plan mechanics described; no clawback section |
| Severance/COC provisions | Not applicable | Trustee role; no employment agreement terms disclosed |
Other Directorships & Interlocks
| Company/Organization | Role | Public company? | Potential interlock/conflict |
|---|---|---|---|
| Rimes Technologies | Corporate Director (2022–2024; prior to acquisition) | No (private) | None disclosed with EVF ecosystem |
| University of Minnesota Foundation | Board of Trustees (since 2022) | Non‑profit | None disclosed |
| Other public company boards | None disclosed | N/A | N/A |
Expertise & Qualifications
- 35+ years in investment management and financial services; deep operations, compliance, and fund governance expertise.
- Held Treasurer role for Wells Fargo open‑end and closed‑end funds (2012–2021); chaired WFAM UK and Luxembourg legal entities and Luxembourg funds.
- Education: B.S. in Business Administration, Providence College.
- Experience aligns with audit/compliance oversight demands of closed‑end funds.
Equity Ownership
- EVF‑specific ownership: No shares held by Nancy Wiser Stefani as of July 30, 2024 and July 29, 2025; only Trustee Keith Quinton held EVF shares ($10,001–$50,000).
- Aggregate holdings across Eaton Vance funds overseen: “Over $100,000” for Nancy Wiser Stefani.
| Metric | As of Jul 30, 2024 | As of Jul 29, 2025 |
|---|---|---|
| EVF shares beneficially owned | $0 (no shares held) | $0 (no shares held) |
| Aggregate dollar range in Eaton Vance funds overseen | Over $100,000 | Over $100,000 |
Insider Filings
| Form | Filing Date | Key Disclosure |
|---|---|---|
| Form 3 (Initial Statement of Beneficial Ownership) | Apr 12, 2022 | No securities beneficially owned at filing; capacity indicated as Trustee |
Governance Assessment
- Strengths: Independent status; chair of Compliance Committee; prior Audit Committee membership; extensive fund operations and governance background—supports robust oversight of compliance and financial reporting for a closed‑end fund.
- Engagement: Board and committees active (FY 2024 meeting cadence); each Trustee met at least 75% attendance threshold; Nancy leads the compliance function as Chair.
- Pay and alignment: Cash‑based retainers with committee and chair fees; optional fee deferral into Eaton Vance funds—some alignment to broader fund family performance, though not EVF‑specific.
- Ownership signal: No EVF share ownership by Nancy in 2024–2025; while common for fund trustees, EVF‑specific “skin in the game” is limited—investors may view this as a modest alignment gap.
- Conflicts: Contract Review Committee (which includes Nancy) explicitly oversees service‑provider contracts and potential conflicts of interest; no Nancy‑specific related‑party transactions disclosed.
RED FLAGS / Watch Items
- No EVF‑specific share ownership by Nancy across consecutive years (2024–2025).
- None of the Trustees attended the Fund’s 2023 Annual Meeting of Shareholders—potential optics issue on shareholder engagement.
- Trustee compensation increased (base retainer $315k → $325k) amid unchanged EVF‑specific ownership—monitor pay‑for‑alignment narrative.
Overall: Nancy Wiser Stefani’s compliance leadership and deep operations background bolster board effectiveness. The absence of EVF share ownership is a mild alignment concern, partially mitigated by optional fee deferrals into the fund complex and strong committee oversight structures.