Peter J. Germain
About Peter J. Germain
Peter J. Germain serves as Chief Legal Officer, Secretary and Executive Vice President of Federated Hermes Premier Municipal Income Fund (FMN), having begun serving in January 2005; his birth date is September 3, 1959 . Officers in the Federated Hermes fund complex are elected annually by the Board; unless otherwise noted, each Officer is elected annually . The FMN proxy does not include an executive compensation program for fund officers because “Officers do not receive any compensation from any fund in the Federated Hermes Complex, including the Fund” . The proxy focuses on board elections and fund governance and does not disclose officer-specific FMN-linked performance metrics such as TSR, revenue, or EBITDA for incentive purposes .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Federated Hermes, Inc. | Deputy General Counsel; Special Counsel; Managing Director of Mutual Fund Services | Not disclosed | Not disclosed |
| Federated Services Company | Senior Vice President | Not disclosed | Not disclosed |
| Federated Hermes, Inc. | Senior Corporate Counsel | Not disclosed | Not disclosed |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Not disclosed in FMN proxy biography | — | — | — |
Fixed Compensation
Officers do not receive any compensation from the Fund; the FMN proxy does not disclose base salary or bonus details for officers.
| Component | Value |
|---|---|
| Base salary | Not disclosed by FMN; officers do not receive compensation from the Fund |
| Target annual bonus % | Not disclosed by FMN; officers do not receive compensation from the Fund |
| Actual bonus paid (latest fiscal year) | Not disclosed by FMN; officers do not receive compensation from the Fund |
Performance Compensation
No FMN-level performance incentives are disclosed for officers; the fund states officers do not receive compensation from any fund in the Federated Hermes complex.
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not applicable at FMN | — | — | — | — | — |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| FMN shares beneficially owned by Germain (as of Jun 30, 2025) | 0; the proxy states “no other officer or Trustee of the Fund beneficially owned any shares of the Fund” other than the single holding disclosed for the President |
| Ownership as % of shares outstanding | Not disclosed (0 shares held) |
| Vested vs. unvested FMN equity | Not applicable; no FMN equity awards disclosed for officers |
| Options (exercisable/unexercisable) | Not disclosed at FMN; no officer equity awards reported |
| Shares pledged as collateral | Not disclosed in FMN proxy; no pledging disclosure for officers |
| Stock ownership guidelines (officers) | Not disclosed in FMN proxy |
| Compliance with guidelines | Not disclosed in FMN proxy |
Note: FMN’s “Board Ownership” table shows that only the President held 6,630 common shares; all other officers and Trustees had no holdings in FMN as of the referenced date .
Employment Terms
| Term | Detail |
|---|---|
| Current FMN roles | Chief Legal Officer, Secretary and Executive Vice President |
| FMN service start | Began serving January 2005 |
| Election/term mechanics | Officers are elected annually by the Board (unless otherwise noted) |
| Employment agreement with FMN | Not disclosed; officers are fund complex officers and receive no compensation from the Fund |
| Severance / Change-in-control (FMN) | Not disclosed at FMN level |
| Clawback provisions (FMN) | Not disclosed at FMN level |
| Non-compete / non-solicit (FMN) | Not disclosed at FMN level |
Board and Governance Context (Fund-Level)
- Committees listed in the proxy are Executive, Audit (independent, with designated financial experts), and Nominating; a compensation committee is not listed in the FMN proxy .
- Section 16(a) reports: Based on a review of filings and written representations, the Fund believes all Reporting Persons made timely ownership filings for fiscal year ended November 30, 2024 .
Investment Implications
- Limited FMN-level pay-for-performance signals: The Fund explicitly states officers do not receive compensation from any fund in the Federated Hermes complex, so there is no FMN-linked cash or equity incentive structure to assess for Germain at the Fund level .
- Minimal insider selling pressure at FMN: As of June 30, 2025, the proxy shows no FMN share ownership for officers other than the President’s disclosed holding; the proxy lists 0 holdings for other officers, including the Chief Legal Officer/Secretary/EVP, implying negligible direct alignment or selling pressure tied to FMN shares .
- Retention and incentive alignment likely determined outside FMN: Officer roles are elected annually by the Board and compensated outside the Fund; any employment terms relevant to retention (severance, CIC, performance metrics) are not disclosed at FMN and would not be Fund obligations per the proxy’s compensation statement .
- Governance stability: The proxy reflects a standard closed-end fund governance framework with independent Audit and Nominating committees; risk oversight and audit processes are active and recurring, which may support operational continuity but do not directly inform officer pay alignment at FMN .
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