Deidre E. Walsh
About Deidre E. Walsh
Deidre E. Walsh (year of birth: 1971) serves as Vice President and Chief Legal Officer of Eaton Vance Municipal Income Trust (EVN) and has been an officer of the Eaton Vance fund complex since 2021; her business address is One Post Office Square, Boston, MA 02109 . She is also Vice President of Eaton Vance, Boston Management and Research (BMR), and Calvert Research and Management (CRM), and serves as an officer across numerous registered investment companies within the complex; she is listed as agent for service on EVN filings and signs SEC reports on behalf of the Trust . The fund’s disclosure notes that, because of their positions with Eaton Vance and ownership of Morgan Stanley stock, officers may benefit from advisory and/or administrative fees paid by the Fund to Eaton Vance; however, the proxy does not disclose officer-level salary/bonus or equity awards at the fund level . EVN’s recent semiannual performance context (May 31, 2025): NAV total return six months −5.79% and one-year −0.12%; market price total return six months −2.14% and one-year 8.90%; premium/discount at period end −2.29% .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Eaton Vance Municipal Income Trust (EVN) | Vice President & Chief Legal Officer | 2021–present | Senior legal officer for EVN; signs SEC filings and supports governance and compliance . |
| Eaton Vance & BMR | Vice President | 2021–present | Officer across 123 registered investment companies managed by Eaton Vance/BMR; central legal/compliance oversight . |
| Calvert Research and Management (CRM) | Vice President; officer of 45 funds | 2021–present | Legal/governance roles supporting additional funds advised/administered by CRM . |
| EVN (Agent for Service) | Agent for service (legal) | As of FY 2025 reporting | Maintains legal service-of-process role at One Post Office Square, Boston, MA 02109 . |
External Roles
- None disclosed in EVN filings for Ms. Walsh .
Fixed Compensation
| Component | Latest Disclosure |
|---|---|
| Base Salary | Not disclosed by EVN; officers are employees of Eaton Vance affiliates; proxy provides no officer-level pay details . |
| Target Bonus % | Not disclosed . |
| Actual Bonus Paid | Not disclosed . |
| Perquisites | Not disclosed . |
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual cash/PSU/RSU/Options | Not disclosed for officers in EVN proxy; only trustee remuneration is detailed | — | — | — | — | — . |
EVN’s proxy details trustee remuneration but does not include executive officer salary/bonus/equity schedules at the fund level; officers are affiliated with the adviser (Eaton Vance/BMR/CRM) .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Individual beneficial ownership (Walsh) | Not separately disclosed . |
| Officers/Trustees beneficial ownership (group) | Trustees and executive officers of each Fund, individually and as a group, owned beneficially less than 1% of outstanding Common Shares as of Dec 30, 2024 . |
| Shares pledged/hedged | Not disclosed . |
| Stock ownership guidelines | Not disclosed for officers at fund level . |
| Compliance with guidelines | Not disclosed . |
Employment Terms
| Term | Detail |
|---|---|
| Officer since | 2021 (officer in the Eaton Vance fund family; EVN role listed as VP & Chief Legal Officer) . |
| Term length | Officers hold indefinite terms of office . |
| Severance/change-of-control | Not disclosed at fund level . |
| Non-compete/non-solicit/garden leave | Not disclosed . |
| Clawback/governance policies | Not disclosed for officers; board committee structures and charters are disclosed . |
Performance & Fund Context
| Metric | Periods | EVN Value |
|---|---|---|
| Average Annual Total Return at NAV | Six months; One year; Five years; Ten years | −5.79%; −0.12%; −0.13%; 3.16% . |
| Average Annual Total Return at Market Price | Six months; One year; Five years; Ten years | −2.14%; 8.90%; 1.36%; 2.62% . |
| Bloomberg Municipal Bond Index | Six months; One year; Five years; Ten years | −2.40%; 2.03%; 0.55%; 2.13% . |
| Premium/Discount to NAV | As of period end | −2.29% . |
| Total distributions per share | Period to May 31, 2025 | $0.31 . |
| Distribution rate at NAV | As of period end | 5.87% . |
| Taxable-equivalent distribution rate at NAV | As of period end | 9.91 . |
| Total leverage (RIB financing) | As of period end | 32.70% . |
Governance Notes (context for legal/compliance role)
- EVN’s Board comprises noninterested Trustees only and operates six standing committees (Audit; Contract Review; Governance; Portfolio Management; Compliance Reports & Regulatory Matters; Closed-End Fund), with charters detailing oversight responsibilities across reporting, valuation, and compliance—areas directly intersecting with the CLO function .
- Walsh signs EVN 8-K current reports as Vice President & Chief Legal Officer, evidencing her role in disclosure controls and regulatory filings .
Investment Implications
- Pay-for-performance assessment not possible: EVN discloses trustee fees but not officer cash/equity compensation, targets, or payout formulas; thus, no insight into Walsh’s cash vs. equity mix, revenue/EBITDA/TSR-linked metrics, or vesting calendars that would inform selling pressure or alignment indicators .
- Ownership alignment appears limited at the fund level: Trustees and executive officers as a group held less than 1% of EVN shares; no individual Walsh ownership or pledging disclosures—limiting direct “skin-in-the-game” signals for trading or governance alignment analysis .
- Retention risk hard to gauge: Officers hold indefinite terms; no employment agreement, severance, or change-of-control details are disclosed at the fund level—typical for closed-end funds where officers are employees of the adviser (Eaton Vance/BMR/CRM) .
- Process/controls strength vs. execution risk: Detailed committee structures and audit/compliance governance (with financial experts designated on the Audit Committee) support robust disclosure and control environments—salient to a CLO’s remit but not directly tied to EVN market returns; Walsh’s frequent signatory role underscores responsibility for timely and compliant filings .
Net: For trading signals (insider selling pressure, forced sales on vest dates) and pay alignment, EVN filings do not provide officer-level comp/vesting data. Monitoring future 8‑Ks or adviser-level disclosures would be necessary to assess compensation levers, equity overhang, or change‑of‑control economics tied to Ms. Walsh. Current fund-level filings emphasize governance structures and legal oversight rather than officer incentives .