James Dykas
President and Chief Executive Officer at FIRST TRUST SENIOR FLOATING RATE INCOME FUND II
CEO
Executive
About James Dykas
James M. Dykas (born 1966) serves as President and Chief Executive Officer of the First Trust fund complex, including First Trust Senior Floating Rate Income Fund II (ticker FCT), since an election in December 2015 effective January 2016 . He concurrently serves as Managing Director and Chief Financial Officer of First Trust Advisors L.P. and First Trust Portfolios L.P., and as Chief Financial Officer of BondWave LLC (software development) and Stonebridge Advisors LLC (investment advisor) . He is the principal executive officer signing SEC certifications and shareholder reports (e.g., Form N-CSR and Form N-PX) for FCT, underscoring accountability for reporting and controls . Fund filings do not disclose TSR or operating metrics tied to his pay; executive officers receive no compensation from the funds for serving in such capacities, with compensation handled at the advisor level and not reported in fund documents .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| First Trust Advisors L.P. | Managing Director and Chief Financial Officer | Past 5 years (ongoing) | Senior financial leadership across First Trust Fund Complex portfolios (312 portfolios referenced in current filings) |
| First Trust Portfolios L.P. | Managing Director and Chief Financial Officer | Past 5 years (ongoing) | Finance and reporting oversight supporting fund administration |
| BondWave LLC | Chief Financial Officer (Software Development Company) | Past 5 years (ongoing) | CFO responsibilities for affiliate technology business |
| Stonebridge Advisors LLC | Chief Financial Officer (Investment Advisor) | Past 5 years (ongoing) | CFO responsibilities for affiliate investment advisor |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| BondWave LLC | Chief Financial Officer | Past 5 years (ongoing) | Software development company affiliation |
| Stonebridge Advisors LLC | Chief Financial Officer | Past 5 years (ongoing) | Investment advisor affiliation |
Fixed Compensation
| Component | Status |
|---|---|
| Compensation from FCT (and other funds in complex) | Executive officers and the Interested Trustee receive no compensation from the funds for serving in such capacities |
| Base salary and target/actual bonus | Not disclosed in fund filings; handled by First Trust Advisors L.P. (advisor-level compensation not reported in the fund proxy) |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed by funds; executive compensation is set/paid by the Advisor, and the funds do not report RSU/PSU/option metrics or outcomes for executive officers | — | — | — | — | — |
Equity Ownership & Alignment
| Metric | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|
| Group beneficial ownership (Trustees, Nominees, and executive officers) – FCT shares | 5,062 shares; less than 1% of shares outstanding | 1,166 shares; less than 1% of shares outstanding |
| Individual holdings for James M. Dykas | Not individually disclosed in proxy (only aggregate group holdings are provided) |
- The proxy includes an Independent Trustee investment expectation (aggregate equal to one year’s annual retainer within three years), but no executive officer stock ownership guidelines are disclosed for Dykas .
- Section 16/30(h) compliance is affirmed; filings reviewed showed compliance for the fiscal year ended May 31, 2025 .
- A Power of Attorney framework designates James M. Dykas among authorized attorneys-in-fact for Forms 3/4/5 filings, indicating operational responsibility for insider reporting mechanics across the complex .
Employment Terms
| Term Element | Detail |
|---|---|
| Role and capacity | President and Chief Executive Officer of the funds; principal executive officer |
| Start date | Elected December 2015; effective January 2016 |
| Term length | Indefinite term (executive officers serve indefinite terms) |
| Employment agreement, severance, change-of-control | Not disclosed in fund filings; executive employment economics are at the Advisor level and not reported by the funds |
| Non-compete / non-solicit / garden leave | Not disclosed in fund filings |
Investment Implications
- Tenure and scope: Dykas has led as President & CEO across the First Trust fund complex since January 2016 and signs core SEC reports, evidencing continuity and accountability for controls and disclosure quality .
- Pay-for-performance transparency: The funds do not compensate executive officers; therefore, no disclosed salary, bonus targets, RSU/PSU metrics, or option packages exist at the fund level. Alignment must be evaluated at the Advisor level, which is not disclosed in the fund’s proxy, limiting visibility into incentive levers and severance/change-of-control economics .
- Ownership alignment: Aggregate insider holdings at FCT are below 1% of shares outstanding, with a decline in group shares from 5,062 to 1,166 YoY, offering limited direct equity-alignment signals; individual holdings for Dykas are not disclosed, constraining analysis of potential insider selling pressure and vesting overhangs .
- Governance and reporting: Affirmed compliance with Section 16/30(h) and regular officer certifications on N-CSR/N-PX signal disciplined reporting processes; the attorney-in-fact authority facilitates timely insider filings, but does not itself indicate economic exposure or hedging/pledging practices .