Robert J. Ostrowski
Chief Investment Officer and Senior Vice President at Federated Hermes Premier Municipal Income Fund
Executive
About Robert J. Ostrowski
Robert J. Ostrowski serves as Chief Investment Officer and Senior Vice President of Federated Hermes Premier Municipal Income Fund (FMN), having begun service to the Fund in February 2010. He joined Federated Hermes, Inc. in 1987 as an Investment Analyst, became a Portfolio Manager in 1990, and was named Chief Investment Officer of Federated Hermes’ taxable fixed‑income products in 2004; he is also a Senior Portfolio Manager. He holds the Chartered Financial Analyst designation and an M.S. in Industrial Administration from Carnegie Mellon University; birth date: April 26, 1963. Officers of the Fund do not receive compensation from FMN; officer compensation is paid by affiliated service providers and not disclosed in the Fund’s proxy.
Past Roles
| Organization | Role | Years | Strategic Impact/Notes |
|---|---|---|---|
| Federated Hermes, Inc. | Investment Analyst | 1987–1990 | Joined firm as analyst in fixed income platform. |
| Federated Hermes, Inc. | Portfolio Manager | 1990–present (per biography) | Advanced to PM; later Senior Portfolio Manager. |
| Federated Hermes, Inc. | Chief Investment Officer, Taxable Fixed‑Income Products | 2004–present | Leads taxable fixed‑income CIO function. |
| Fund’s Adviser (Federated Investment Management Company) | Senior Vice President | 1997–2009 | Senior leadership at the Adviser. |
| Fund’s Adviser (Federated Investment Management Company) | Executive Vice President | 2009–present | Promoted to EVP at Adviser. |
| Federated Hermes Premier Municipal Income Fund (FMN) | Chief Investment Officer and Senior Vice President (Officer of the Fund) | Began Feb 2010 | Elected annually by Board as Fund officer. |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | None disclosed in FMN’s 2024–2025 proxy statements | — | Officer biography lists Federated roles; no external directorships disclosed. |
Fixed Compensation
| Component | Amount/Status | Source/Notes |
|---|---|---|
| Base salary | Not paid by the Fund; officers receive no compensation from FMN | Officers do not receive any compensation from any fund in the Federated Hermes Complex, including FMN. |
| Target/Actual bonus | Not disclosed by the Fund | Compensation for officers is at affiliated adviser level; not disclosed in FMN proxy. |
| Cash retainers/perquisites | Not applicable at Fund level | No officer cash compensation from FMN. |
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| Equity awards (RSU/PSU), options | Not disclosed by the Fund | — | — | — | — |
| Annual/long‑term incentive plans | Not disclosed by the Fund | — | — | — | — |
FMN’s proxy does not disclose adviser‑level performance metrics or payouts for Fund officers.
Equity Ownership & Alignment
| Metric | As of | Value | Notes |
|---|---|---|---|
| Beneficial ownership of FMN shares | June 30, 2025 | 0 shares | “As of June 30, 2025, no other officer or Trustee of the Fund beneficially owned any shares of the Fund.” (Only J. C. Donahue owned 6,630 common.) |
| Officers/Trustees aggregate ownership | June 30, 2025 | <1% of each class | Collective ownership less than 1% of outstanding shares. |
| Pledging/hedging disclosure | — | Not disclosed | Proxy lists ownership ranges and names; no pledging details for officers are provided. |
| Ownership guidelines (officers) | — | Not disclosed | Fund proxy does not include officer ownership guideline compliance. |
Employment Terms
| Term | Detail |
|---|---|
| Role and start date at FMN | Chief Investment Officer and Senior Vice President; began serving February 2010. |
| Election/term | Executive officers are elected annually by the Board; hold office until qualification of a successor. |
| Contract term, severance, change‑of‑control | Not disclosed by the Fund (officers are personnel of affiliated adviser). |
| Non‑compete/non‑solicit, garden leave | Not disclosed by the Fund. |
| Clawbacks, tax gross‑ups | Not disclosed by the Fund. |
Performance & Track Record
- Tenure and platform: Long‑tenured fixed‑income leader at Federated Hermes (joined 1987; CIO of taxable fixed‑income since 2004) and officer of FMN since 2010, indicating deep continuity in investment leadership for the Federated Hermes complex.
- Fund‑level TSR and KPI disclosure: FMN’s proxy does not present officer‑linked TSR, revenue, or EBITDA metrics; the Board receives performance and risk reports each meeting, but no officer incentive metric disclosure is provided.
Investment Implications
- Alignment: Ostrowski holds no FMN shares, and officers receive no compensation from FMN; alignment with FMN shareholders is indirect and primarily through adviser‑level incentives not disclosed in the Fund’s proxy. This reduces direct, fund‑specific pay‑for‑performance transparency.
- Insider selling pressure: With zero reported ownership of FMN shares, near‑term insider selling pressure from Ostrowski appears minimal at the fund level.
- Retention and execution: His multi‑decade tenure at Federated Hermes and long service to FMN suggest low immediate retention risk and stable fixed‑income leadership, though actual retention levers (contracts, severance, CIC terms) are not disclosed at the Fund level.
- Governance context: Officers are elected annually and are not compensated by the Fund; oversight resides with the Board (which receives performance and risk reports), implying that performance accountability operates through adviser governance rather than fund‑level compensation mechanisms.