Valerie Mosley
About Valerie A. Mosley
Independent Trustee since 2014 (Class I; current term expires 2027). Born 1960. Background in institutional investing: Partner/SVP, Portfolio Manager and Investment Strategist at Wellington Management (1992–2012); CIO at PG Corbin Asset Management (1990–1992); institutional corporate bond sales at Kidder Peabody (1986–1990). Founder/CEO of Valmo Ventures and founder of Upward Wealth, Inc. (BrightUp). Education: BA (Duke), MBA (Wharton); was a CFA charterholder during her investment career .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Wellington Management Company, LLP | Partner, SVP, Portfolio Manager, Investment Strategist | 1992–2012 | Senior investment leadership and strategy |
| PG Corbin Asset Management | Chief Investment Officer | 1990–1992 | Led asset management CIO function |
| Kidder Peabody | Institutional Corporate Bond Sales | 1986–1990 | Fixed income market coverage |
External Roles
| Company/Organization | Role | Tenure | Notes |
|---|---|---|---|
| DraftKings, Inc. | Director | Since Sep 2020 | Public company board; digital sports entertainment |
| Envestnet, Inc. | Director | 2018–2024 | Public company; wealth management technology |
| Dynex Capital, Inc. | Director | 2013–2020 | Public company; mortgage REIT |
| Groupon, Inc. | Director | 2020–2022 | Public company; e-commerce |
| Caribou Financial, Inc. | Board member | Not specified | Auto loan refinancing; private company |
| Progress Investment Management Company | Director | Until 2020 | Manager of emerging managers; private |
Board Governance
- Independence: Serves as a noninterested Trustee; Governance Committee members are independent under NYSE/NYSE American listing standards .
- Committee memberships (current): Contract Review Committee (member); Portfolio Management Committee (member); Governance Committee (member). Governance Committee chaired by Susan Sutherland in 2025; Mosley was Governance Committee Chair in 2023 .
- Attendance/engagement: FY ended Sep 30, 2024—Board met 8 times; Audit (10), Contract Review (5), Governance (4), Portfolio Management (7), Compliance (8). Each Trustee attended at least 75% of Board/Committee meetings on which they serve; none attended the Funds’ 2024 Annual Meeting of Shareholders .
- Board composition: Nine noninterested Trustees; acting Chairperson is Susan J. Sutherland .
| Committee | Role | Chair Status | Reference |
|---|---|---|---|
| Contract Review Committee | Member | Not Chair | |
| Portfolio Management Committee | Member | Not Chair | |
| Governance Committee | Member (2025) | Not Chair (Chair: S. Sutherland) | |
| Governance Committee | Chair (2023) | Chair |
Fixed Compensation
- Structure: Cash-only fee schedule—annual retainer, committee service component, incremental retainers for serving on ≥4 committees and for committee chair roles; out-of-pocket expenses reimbursed. Pro rata paid by each fund based on net assets share of the Eaton Vance family .
- Fee schedule (2024 calendar year basis; adopted by Boards):
- Annual retainer: $325,000
- Chairperson of noninterested Trustees: +$150,000
- Committee service: +$82,500
- Four or more committees: +$15,000
- Committee chairperson: +$35,000 (split if co-chairs)
- Out-of-pocket expenses
| Year | Annual Retainer | Committee Service | ≥4 Committees Increment | Committee Chair Increment | Total Compensation from Fund Complex (Mosley) |
|---|---|---|---|---|---|
| 2022 | $305,000 | $82,500 | $15,000 | $35,000 (if chair) | $414,118 |
| 2024 | $325,000 | $82,500 | $15,000 | $35,000 (if chair) | $430,000 |
Performance Compensation
| Performance Metric Tied to Director Compensation | Detail |
|---|---|
| None disclosed | Trustee compensation is fixed cash retainers/committee fees; no equity, options, or performance-linked awards disclosed |
Other Directorships & Interlocks
- Public boards: DraftKings (current); prior Envestnet, Dynex Capital, Groupon .
- Potential interlocks/conflicts: No related-party transactions concerning Mosley disclosed; committees are composed solely of noninterested Trustees; Contract Review Committee oversees service-provider conflicts including any involving Eaton Vance affiliates .
- Sector overlap: EVM is a municipal bond fund; DraftKings/gaming and wealth-tech (Envestnet) have no apparent direct transactional ties to EVM’s portfolio management; monitoring remains appropriate given broad network .
Expertise & Qualifications
- Deep institutional investment expertise from Wellington, PG Corbin; prior fixed income sales at Kidder Peabody .
- Governance experience across multiple public company boards (technology, gaming, REIT), plus financial services non-profits/endowments .
- Education: BA (Duke), MBA (Wharton); prior CFA charterholder, indicating financial rigor .
Equity Ownership
- Fund-level: As of July 14, 2025, no Trustee beneficially owned EVM equity securities .
- Aggregate across Eaton Vance family of funds: "Over $100,000" dollar range for Mosley (as of July 14, 2025; may include deferred compensation plan holdings); same "Over $100,000" as of May 30, 2023 .
| Date | EVM Shares Beneficially Owned | Aggregate Dollar Range in Eaton Vance Family of Funds |
|---|---|---|
| May 30, 2023 | None | Over $100,000 |
| July 14, 2025 | None | Over $100,000 (may include deferred comp) |
Governance Assessment
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Strengths
- Independent trustee with robust investment background; service since 2014 provides continuity and fund industry expertise .
- Active committee roles on Governance, Contract Review, and Portfolio Management—aligned with oversight of conflicts, board composition, and performance/risk .
- Attendance met minimum thresholds; Board/committee cadence demonstrates substantive oversight (e.g., Audit 10x; PM 7x) .
- Compensation primarily fixed cash; no performance-linked or equity awards—reduces misalignment risk and pay-for-performance concerns in fund context .
- Personal investments across the Eaton Vance family of funds suggest alignment with fund complex outcomes, though not specifically EVM shares .
-
Watch items / RED FLAGS
- None of the Trustees attended the Funds’ 2024 Annual Meeting of Shareholders—a potential engagement signal to monitor, albeit common in closed-end fund boards .
- Multiple external commitments (e.g., DraftKings, prior Envestnet/Groupon/Dynex) warrant continued monitoring for time allocation; no related-party transactions disclosed .
- Change from Governance Committee Chair (2023) to member (2025) reduces direct agenda-setting influence; neutral for independence but relevant for board dynamics .
-
Net view: Mosley’s independence, investment acumen, and committee footprint support board effectiveness. Compensation is transparent and cash-based; no conflicts disclosed. Engagement should be tracked, particularly annual meeting participation and workload across external boards .