G. Thomas Hough
About G. Thomas Hough
Independent Class III Trustee of Federated Hermes Premier Municipal Income Fund (FMN); began service in January 2016. Born February 28, 1955. Former Americas Vice Chair of Assurance at Ernst & Young LLP; currently chairs the Board of Directors/Trustees of the Federated Hermes Fund Complex. Current Class III term runs through the 2027 annual meeting .
Past Roles
| Organization | Role | Tenure (if disclosed) | Committees/Impact |
|---|---|---|---|
| Ernst & Young LLP | Americas Vice Chair of Assurance (formerly Vice Chair) | Not disclosed | Senior leadership in audit/assurance practice |
| Publix Super Markets, Inc. | Director | Previously served | Member of Audit, Governance, and Compensation Committees |
External Roles
| Organization | Role | Status | Committees/Impact |
|---|---|---|---|
| Equifax, Inc. | Director | Current | Chair, Audit Committee; Member, Compensation Committee |
| Haverty Furniture Companies, Inc. | Lead Director | Current | Member, Audit; Member, Nominating & Corporate Governance |
| University of Alabama | President’s Cabinet; Business School Board of Visitors | Current | Governance/Advisory roles |
| Wake Forest University | Business School Board of Visitors | Former | Advisory role |
| United States Golf Association | Executive Committee member | Former | Executive Committee service |
Board Governance
| Item | Detail |
|---|---|
| Independence | Independent Trustee (Class III) |
| Service start | January 2016 |
| Term expiration | 2027 annual meeting |
| Committees (FMN) | Executive Committee member ; Nominating Committee member (all Independent Trustees), Chair: John S. Walsh ; Not listed on FMN Audit Committee (members: Carson, O’Neill (Chair), Reilly, Walsh) |
| Meetings and attendance | Board met 4 times in fiscal 2024; each Trustee attended ≥75% of Board and applicable committee meetings |
| Committee activity (FY 2024) | Audit Committee met 7 times ; Nominating Committee met once ; Executive Committee met once |
| Shareholder meeting engagement | Fund has no policy requiring Board attendance at annual meetings; no Board member attended the 2024 annual meeting |
Fixed Compensation
Director compensation is paid across the Federated Hermes Fund Complex and allocated to each fund. Disclosed amounts for Mr. Hough:
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Aggregate Compensation From FMN (past fiscal year) | $1,270.79 | $1,313.80 |
| Total Compensation From Federated Hermes Complex (calendar year) | $365,000 (CY 2023) | $395,000 (CY 2024) |
Notes: The proxy discloses only cash compensation totals for trustees; no equity awards are reported for fund trustees in these filings .
Performance Compensation
| Component | Disclosure |
|---|---|
| Stock/Option awards | No stock or option awards disclosed for trustees of FMN |
| Performance metrics (e.g., TSR, revenue/EBITDA goals) | Not disclosed/applicable for fund trustees |
| Clawbacks / change-in-control terms | Not disclosed for trustees in FMN proxy |
Other Directorships & Interlocks
| Company | Exchange/Type | Role | Potential Interlock Considerations |
|---|---|---|---|
| Equifax, Inc. | Public company | Director; Chair Audit; Member Compensation | Unrelated to FMN’s municipal bond investment strategy; governance expertise additive |
| Haverty Furniture Companies, Inc. | Public company | Lead Director; Member Audit; Member Nominating & Corporate Governance | Unrelated to FMN’s strategy; leadership and audit oversight experience |
Expertise & Qualifications
- Deep audit and financial reporting expertise from senior EY leadership and chairing a public-company Audit Committee .
- Broad board leadership experience as chair of the Federated Hermes Fund Complex board and lead director at a public company .
- Active governance roles at educational institutions, indicating engagement with risk oversight and advisory functions .
Equity Ownership
| Metric | As of 7/31/2024 | As of 6/30/2025 |
|---|---|---|
| Dollar Range of Shares Owned in FMN | None | None |
| Aggregate Dollar Range in Federated Hermes Family of Investment Companies | Over $100,000 (as of 12/31/2023) | Over $100,000 (as of 12/31/2024) |
Additional disclosure: As of June 30, 2025, no FMN trustee other than the President owned shares of FMN; officers and trustees collectively owned <1% of each class .
Governance Assessment
-
Strengths
- Significant audit and financial reporting expertise; currently chairs Equifax’s Audit Committee and previously held senior audit leadership at EY, which supports robust oversight of FMN’s financial reporting and valuation processes .
- Active committee roles at FMN: member of Executive Committee and Nominating Committee of independent trustees, with documented committee meeting cadence in FY 2024; Board-wide attendance threshold met (≥75%) .
- Independent trustee with Class III term through 2027, providing continuity .
-
Watch items / potential red flags
- No personal share ownership in FMN as of the last two reporting dates, which may be viewed as weaker alignment for a closed-end fund board (though he has >$100,000 across the Federated Hermes family) .
- The Fund’s independent auditor is Ernst & Young LLP (EY) for FY 2023 and FY 2024 while Mr. Hough is a former EY Americas Assurance Vice Chair; he is not on FMN’s Audit Committee, which mitigates perceived independence concerns, but the historical affiliation bears monitoring in auditor oversight and rotation deliberations .
- Shareholder engagement optics: the Fund does not require Board attendance at shareholder meetings and no Board member attended the 2024 meeting .
Overall implication: Mr. Hough brings high-caliber audit, risk, and governance expertise that bolsters Board effectiveness. Alignment could be strengthened by personal ownership of FMN shares; the legacy EY affiliation is mitigated by his non-membership on FMN’s Audit Committee but should remain under periodic review given EY’s auditor role .