Susan Kerr
About Susan Kerr
Susan Kerr (year of birth: 1949) serves as Vice President – AML Compliance at Franklin Limited Duration Income Trust (FTF) and has held this officer role since 2021 . Her recent professional background includes Senior Compliance Analyst at Franklin Templeton; Chief Anti-Money Laundering Compliance Officer at Legg Mason & Co. or affiliates; Anti-Money Laundering Compliance Officer; and Senior Compliance Officer at Franklin Distributors, LLC, alongside officer roles for certain funds in the Franklin Templeton fund complex . Officers are appointed by the Trustees and serve at the pleasure of the Board; salaries and officer expenses are paid by the investment manager or affiliates, and no pension or retirement benefits are accrued as Fund expenses .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Franklin Templeton | Senior Compliance Analyst | Past 5 years | Not disclosed |
| Legg Mason & Co. or affiliates | Chief Anti-Money Laundering Compliance Officer | Past 5 years | Not disclosed |
| Franklin Distributors, LLC | Senior Compliance Officer | Past 5 years | Not disclosed |
| Franklin Templeton fund complex | Officer of certain funds | Past 5 years | Not disclosed |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Franklin Templeton fund complex | Officer of certain funds | Past 5 years | Not disclosed |
| Franklin Templeton Institutional entities | Compliance-related roles | Past 5 years | Not disclosed |
Fixed Compensation
- Officer salaries and expenses are paid by Franklin Advisers, Inc. or affiliates; the Fund does not disclose individual officer base salary, bonus, or cash compensation amounts for officers, and no pension or retirement benefits are accrued as Fund expenses .
Performance Compensation
- The Fund’s proxy statements do not disclose individual officer performance-based pay structures, targets, or payouts for Susan Kerr; officers are employees of the investment manager/affiliates, and related compensation frameworks are not detailed in the Fund’s filings .
Equity Ownership & Alignment
- As of August 4, 2023 and August 5, 2024, no Trustee owned 1% or more of outstanding Common Shares; officers and Trustees as a group owned less than 1% of outstanding shares (individual officer holdings are not itemized) .
- Board policy (not directed at officers) requires Trustees to invest one-third of trustee fees in Franklin funds until holdings reach at least five times annual retainer and regular meeting fees; a three-year phase-in applies to new Trustees .
Employment Terms
- Appointment and tenure: Officers are appointed by the Trustees and serve at the pleasure of the Board; Susan Kerr has served as Vice President – AML Compliance since 2021 .
- Contract terms: No employment agreement, severance provisions, change-of-control terms, non-compete, non-solicit, garden leave, consulting arrangements, or clawback provisions are disclosed for officers in the Fund’s filings .
Investment Implications
- Pay-for-performance and trading signals: Because officer compensation is paid by the investment manager/affiliates and not disclosed at the Fund level, there is limited transparency into Susan Kerr’s cash/equity mix, performance metrics, vesting schedules, or insider selling pressure—reducing the ability to assess direct alignment with FTF shareholders or anticipate compensation-driven trading catalysts .
- Ownership alignment: Fund filings indicate officers and Trustees collectively hold less than 1% of outstanding shares and provide no individual officer ownership detail, limiting visibility into personal “skin-in-the-game” or pledging risk for Susan Kerr .
- Retention/contract risk: Officers serve at the pleasure of the Board and no severance or change-of-control economics are disclosed, suggesting employment flexibility but limited insight into retention incentives or protections for Susan Kerr .
- Governance context: Robust Board-level audit/compliance structures exist via committee charters and procedures, but they do not substitute for executive-level compensation disclosure for officers of a closed-end fund advised by Franklin Templeton .