John G. Carson
About John G. Carson
John G. Carson (born May 15, 1965) is an Independent Trustee of Federated Hermes Premier Municipal Income Fund (FMN), elected separately by Preferred Shareholders; he began serving in January 2024 and, if re-elected, his term runs to the 2026 Annual Meeting . He serves on the Fund’s Audit Committee and is classified as independent under NYSE listing standards; the Audit Committee met seven times in fiscal 2024, indicating active oversight . Carson is CEO and CIO of Northstar Asset Management and previously served as its Chief Compliance Officer; earlier career roles include VP at Glenmede Trust, Managing Director at Oppenheimer & Co., Director of Institutional Sales at Bank of America/Merrill Lynch, and positions at Wertheim Schroder/Schroders PLC and Drexel Burnham Lambert .
Past Roles
| Organization | Role | Notes |
|---|---|---|
| Northstar Asset Management | Chief Executive Officer; Chief Investment Officer | Formerly Chief Compliance Officer |
| Glenmede Trust Company | Vice President | Financial services |
| Oppenheimer & Company | Managing Director | Institutional sales |
| Bank of America/Merrill Lynch | Director of Institutional Sales | More than a decade tenure per biography |
| Wertheim Schroder/Schroders PLC | Institutional sales roles | Prior positions |
| Drexel Burnham Lambert | Institutional sales roles | Early career |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Northstar Asset Management | CEO; CIO | Not disclosed | Executive leadership; prior CCO role |
| Other public company directorships | None | — | No other SEC-registered boards disclosed |
Board Governance
- Committee memberships: Audit Committee member (Chair: Thomas M. O’Neill); members are independent under NYSE rules; O’Neill and Walsh designated financial experts (Carson is not designated) .
- Nominating Committee: Consists of all Independent Trustees; Chair: John S. Walsh (Carson, as an Independent Trustee, is a member) .
- Executive Committee: Members are J. Christopher Donahue, G. Thomas Hough, Madelyn A. Reilly, and John S. Walsh; Carson is not a member .
- Attendance: Board met four times in fiscal 2024; each Trustee attended at least 75% of Board and applicable committee meetings during their service period .
- Shareholder meeting attendance policy: No policy to attend annual shareholder meetings; no Board members attended the 2024 annual meeting .
- Election/tenure: Preferred Shareholders elect Carson to one-year terms; if elected in 2025, term expires at 2026 Annual Meeting .
Fixed Compensation
| Compensation Element | FY 2023 | FY 2024 | Notes |
|---|---|---|---|
| Aggregate Compensation From FMN (past fiscal year) ($USD) | $0 | $1,031.08 | Paid by FMN specifically |
| Total Compensation From FMN and Federated Hermes Complex (calendar year) ($USD) | $0 (2023) | $242,570.94 (2024) | Aggregate across Federated Hermes funds complex |
- The proxy presents aggregate and complex-wide cash compensation amounts for Independent Trustees; specific annual retainer, committee fees, chair fees, or meeting fees are not itemized in FMN’s 2025 proxy .
Performance Compensation
- No performance-based compensation metrics (e.g., TSR, revenue, EBITDA, ESG goals), equity awards (RSUs/PSUs), or options are disclosed for Independent Trustees in FMN’s proxy materials; compensation is presented as cash amounts only .
- Change-of-control, severance, clawbacks, tax gross-ups, deferred compensation, and perquisites are not disclosed for Independent Trustees in the FMN proxy .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed |
| Registered investment company boards | Trustee within Federated Hermes Funds complex (role described in biography) |
| Shared directorships with competitors/suppliers/customers | Not disclosed |
| Prior public company boards | Not disclosed |
| Private/non-profit/academic boards | Not disclosed |
Expertise & Qualifications
- Financial services and institutional distribution: Leadership at Northstar (CEO, CIO, former CCO), institutional sales senior roles at Merrill Lynch, Oppenheimer; experience at Glenmede and Schroders/Drexel .
- Governance: Independent Trustee; active role on Audit Committee overseeing financial reporting, internal controls, auditor oversight .
- Audit and risk oversight context: Audit Committee met seven times in fiscal 2024, indicating sustained engagement with financial reporting and compliance matters .
Equity Ownership
| Ownership Item | As of Date | Carson |
|---|---|---|
| Shares owned in FMN (Common/Preferred) | June 30, 2025 | None; only J. Christopher Donahue reported owning 6,630 common shares; all other Trustees/Officers (including Carson) reported no beneficial ownership |
| Dollar range in FMN | June 30, 2025 | None |
| Aggregate dollar range in Federated Hermes family of funds | Dec 31, 2024 | None |
| Shares pledged/hedged | — | Not disclosed in proxy |
| Officers/Trustees collective ownership | June 30, 2025 | Less than 1% of each class |
Governance Assessment
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Positive signals
- Independence and committee service: Carson serves on the Audit Committee; the Committee’s members are independent under NYSE rules, and it met seven times in fiscal 2024, reflecting active oversight of financial reporting and auditor independence .
- Attendance: Board met four times in fiscal 2024; each Trustee achieved at least 75% attendance of Board and applicable committees, indicating baseline engagement .
- Section 16 compliance: Fund believes all Reporting Persons timely made all required beneficial ownership filings for fiscal year ended Nov 30, 2024 .
- Nominating Committee membership: All Independent Trustees (including Carson) participate in director nomination, supporting independent governance of board composition .
-
Potential concerns and monitoring items
- RED FLAG: No FMN share ownership; Carson reported no holdings in FMN and no aggregate dollar range holdings across the Federated Hermes family of funds, which may limit direct alignment with shareholder outcomes .
- Financial expert designation: Carson is not designated an audit committee financial expert (designation is limited to O’Neill and Walsh), which may constrain deep accounting oversight relative to designated peers .
- External executive role: As CEO/CIO of Northstar Asset Management, continued monitoring is warranted for any related-party transactions or conflicts; none are disclosed in FMN’s proxy .
- Shareholder meeting presence: The Fund does not have an attendance policy for annual shareholder meetings, and no trustees attended in 2024; while common among funds, it reduces direct shareholder engagement optics .
-
Compensation structure implications
- Carson’s complex-wide compensation in 2024 was $242,570.94 versus $0 in 2023 due to his start date in Jan 2024; FMN paid $1,031.08 in the past fiscal year. The proxy does not disclose performance-tied elements or equity awards for Independent Trustees, suggesting a cash-based structure that emphasizes fixed governance service rather than pay-for-performance alignment .