J. Christopher Donahue
About J. Christopher Donahue
J. Christopher Donahue is President and an Interested Trustee (Class II) of Federated Hermes Premier Municipal Income Fund (FMN), having begun service in December 2002; he is also Chairman, President, and Chief Executive Officer of Federated Hermes, Inc. . He was born on April 11, 1949 (age 76 as of November 2025, calculated from disclosed birth date) . FMN’s board is led by an independent Chair and Donahue is not the Chair, supporting governance separation at the fund level . Fund-level performance metrics (TSR, revenue/EBITDA growth) tied to Donahue’s compensation are not disclosed in the FMN proxy.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Federated Hermes Premier Municipal Income Fund (FMN) | President and Trustee (Class II) | Began Dec 2002 | Executive leadership and oversight of fund operations as an officer/trustee |
| Federated Investment Counseling | President (prior) | Previously (years not disclosed) | Led investment advisory operations |
| Federated Investment Management Company | President & CEO (prior) | Previously (years not disclosed) | Oversaw investment management platform |
| Federated Global Investment Management Corp. | President & CEO (prior) | Previously (years not disclosed) | Led global investment management activities |
| Passport Research Ltd. | President & CEO (prior); Chairman (prior) | Previously (years not disclosed) | Managed cash management JV operations |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Federated Hermes, Inc. | Chairman, President, CEO, Director | Current (past five years listed) | Corporate leadership across the asset manager’s enterprise |
| Federated Advisory Services Company | Trustee and Chairman | Current | Oversight of advisory services entity |
| Federated Investment Management Company | Director/Trustee and Chairman | Current | Governance of core investment management subsidiary |
| Federated Global Investment Management Corp. | Director/Trustee and Chairman | Current | Governance of global investment management entity |
| Federated Equity Management Company of Pennsylvania | Director/Trustee and Chairman | Current | Equity portfolio oversight |
| Federated MDTA LLC | Director/Trustee and Chairman | Current | Managed portfolios/technical advisory oversight |
| Federated Administrative Services; Federated Administrative Services, Inc. | Trustee; Director | Current | Corporate administration services governance |
| Federated Investment Counseling | Trustee | Current | Advisory oversight |
| Federated Shareholder Services Company; Federated Services Company | Trustee; Director | Current | Shareholder and services support governance |
Fixed Compensation
| Component | Amount / Terms | Source |
|---|---|---|
| Aggregate Compensation from FMN (past fiscal year) | $0 | |
| Total Compensation from Fund and Federated Hermes Complex (calendar year 2024) | $0 (for Fund/Complex trustee fees) | |
| Officer compensation from funds | Officers do not receive any compensation from any fund in the Federated Hermes Complex, including FMN |
Notes:
- FMN’s proxy discloses $0 trustee/complex fees for Donahue and clarifies fund officers are uncompensated by funds; any corporate-level pay (salary/bonus/equity at Federated Hermes, Inc.) is not disclosed in FMN’s proxy and therefore cannot be analyzed here .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed in FMN proxy | — | — | — | — | — |
No fund-level performance metric frameworks (e.g., revenue growth, EBITDA, TSR, ESG) tied to Donahue’s compensation are disclosed in FMN’s proxy.
Equity Ownership & Alignment
| Item | Detail | Source |
|---|---|---|
| FMN shares owned (Common) | 6,630 | |
| FMN Common shares outstanding (Record Date: Jun 30, 2025) | 7,818,701 | |
| Ownership % of FMN Common | ~0.085% (6,630 / 7,818,701) | |
| Dollar range of FMN fund shares owned | $50,001 – $100,000 | |
| Aggregate dollar range across Federated Hermes family of investment companies | Over $100,000 | |
| Section 16 compliance | All Reporting Persons made timely filings in FY2024 (FMN) | |
| Pledging/Hedging | Not disclosed in FMN proxy | — |
| Stock ownership guidelines & compliance | Not disclosed in FMN proxy | — |
Employment Terms
| Term | Disclosure | Source |
|---|---|---|
| Employment contract, start date as fund officer/trustee | Began serving as President/Trustee: Dec 2002 (fund-level) | |
| Severance provisions | Not disclosed in FMN proxy | — |
| Change-of-control (single/double trigger; acceleration) | Not disclosed in FMN proxy | — |
| Clawback provisions | Not disclosed in FMN proxy | — |
| Non-compete / non-solicit / garden leave | Not disclosed in FMN proxy | — |
| Deferred compensation / pension / SERP | Not disclosed in FMN proxy | — |
| Perquisites (aircraft, security, club, relocation) | Not disclosed in FMN proxy | — |
Board Governance
| Attribute | Detail | Source |
|---|---|---|
| Independence status | Interested Trustee (due to Federated Hermes roles and beneficial ownership) | |
| Board Chair | Independent Chair (G. Thomas Hough); Chair is independent and unaffiliated per settlements | |
| Committees | Executive Committee member (Donahue); Audit Committee (Independent members only); Nominating Committee (Independent Trustees only) | |
| Executive Committee composition | Donahue, Hough, Reilly, Walsh (met once in FY2024) | |
| Audit Committee composition | Carson, O’Neill (Chair), Reilly, Walsh; O’Neill and Walsh designated financial experts; met seven times in FY2024 | |
| Nominating Committee composition | All Independent Trustees; Walsh as Chairman; met once in FY2024 | |
| Board meeting attendance | Each Trustee attended at least 75% of Board and committee meetings in FY2024 | |
| Control Beneficial Interest Statute | Delaware control share statute applies; limits voting above 10% thresholds unless reinstated |
Director Compensation (Fund-level)
| Component | Amount | Source |
|---|---|---|
| Trustee/Complex compensation for Donahue | $0 |
Note: Independent Trustees receive fund/complex compensation; Interested Trustees (Donahue) do not –.
Investment Implications
- Alignment: Donahue holds 6,630 FMN common shares (~0.085% of outstanding), indicating some direct alignment with fund shareholders; however, fund-level ownership remains small and officers/trustees collectively own less than 1% of each class .
- Dual-role governance: Donahue’s status as CEO/Chairman of Federated Hermes, Inc. and Interested Trustee/President of FMN raises potential independence concerns typical of externally managed funds; FMN’s independent Chair and Independent-only Audit/Nominating Committees mitigate these risks .
- Compensation signal: Donahue receives no fund/complex trustee compensation and officers are not paid by FMN; any pay-for-performance insights require the Federated Hermes, Inc. proxy (not in FMN materials). Absence of disclosed bonus/equity metrics at FMN limits inference on near-term selling pressure or vesting-related trading signals at the fund level .
- Trading/insider activity: FMN reports timely Section 16 filings but does not disclose specific transactions; no pledging/hedging disclosure appears. Monitoring Form 4s would be necessary for live trading signals .
Overall: Governance structure is designed to buffer fund-level independence concerns (independent Chair and committees), while Donahue’s modest FMN shareholding provides limited direct alignment. Compensation, retention risk, and change‑of‑control economics for Donahue are not determinable from FMN’s proxy and require Federated Hermes, Inc. disclosures; fund-level signals should focus on ongoing committee oversight, meeting cadence, and any future insider filings.