Jeremy May
About Jeremy May
Jeremy May is President and Principal Executive Officer of Clough Global Dividend and Income Fund (GLV) and sister funds GLQ and GLO, serving as an officer since 2023; he was appointed effective April 17, 2023 in connection with the Funds’ transition of administration from ALPS to Paralel Technologies LLC . Born in 1970, he is Founder and CEO of Paralel Technologies LLC and its affiliates since June 2020, and previously was President and Director at ALPS Fund Services, ALPS Distributors, and ALPS Portfolio Solutions Distributor, and Executive Vice President and Director at ALPS Holdings and ALPS Advisors from 1995 to 2019 . GLV filings do not disclose officer-specific performance metrics (TSR, revenue, EBITDA) or incentive scorecards; officers employed by Paralel receive no compensation from the Funds, and the Funds do not have a compensation committee or say‑on‑pay items in the proxy .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| ALPS Fund Services, ALPS Distributors, ALPS Portfolio Solutions Distributor; ALPS Holdings; ALPS Advisors | President and Director (ALPS operating entities); Executive Vice President and Director (ALPS Holdings, ALPS Advisors) | 1995–2019 | Led fund administration, distribution, and portfolio solutions operations; senior leadership across ALPS entities . |
| Magnifi LLC | Chief Operating Officer | 2020–2021 | Technology operations leadership at an information technology firm . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Paralel Technologies LLC (administrator to GLV/GLQ/GLO) | Founder & CEO | Since June 2020 | Oversees fund administration, accounting, compliance; provides executive officers to the Funds . |
| Paralel Advisors (RIA); Paralel Distributors (broker/dealer) | Founder & CEO | Since June 2020 | Registered adviser and distributor supporting the Funds’ operations . |
Fixed Compensation
Officers employed by Paralel receive no compensation or expense reimbursement from the Funds. Details of Jeremy May’s salary, bonus, and benefits are not disclosed in Fund filings.
| Component | 2025 | Notes |
|---|---|---|
| Base Salary (Fund-paid) | Not applicable | Officers employed by Paralel receive no compensation from the Funds . |
| Target Bonus % (Fund-paid) | Not applicable | No Fund-paid officer compensation . |
| Actual Bonus Paid (Fund-paid) | Not applicable | No Fund-paid officer compensation . |
| Perquisites (Fund-paid) | Not applicable | No Fund-paid officer compensation . |
The Funds do not have a compensation committee; proxies do not include executive pay programs or say‑on‑pay proposals .
Performance Compensation
No Fund-paid equity or incentive programs for officers are disclosed; officers employed by Paralel are not compensated by the Funds. Performance metric linkages (revenue, EBITDA, TSR, ESG) and vesting/payout structures for Jeremy May are not disclosed in Fund filings.
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — |
| Notes: Funds have no compensation committee; officer pay is not Fund-paid . |
Equity Ownership & Alignment
Jeremy May reports zero beneficial ownership in each of the Funds and is identified as Principal Executive Officer; proxies do not disclose officer ownership guidelines or pledging/hedging by officers.
| Fund | Total Shares Owned | % of Shares Outstanding |
|---|---|---|
| GLV | 0 | 0% |
| GLQ | 0 | 0% |
| GLO | 0 | 0% |
Additional alignment indicators:
- Shares pledged as collateral: Not disclosed; with zero share ownership, pledging appears not applicable .
- Stock ownership guidelines (officers): Not disclosed in proxies .
- Section 16 reporting: Funds believe all Reporting Persons timely filed required reports for FY 2024; no officer ownership reported for May across funds .
Employment Terms
The Funds’ officer arrangements are governed by the administration and fund accounting agreement with Paralel; officers are elected annually by the Board.
- Officer election cadence: Officers are elected annually and serve until a successor is elected .
- Appointment date: Jeremy May appointed President effective April 17, 2023 (Item 5.02) .
- Compensation by the Funds: Officers employed by Paralel receive no compensation from the Funds .
- Administration Agreement term: Initial three-year term from April 17, 2023, then successive annual renewals unless non‑renewed; termination for cause enumerated (e.g., material breach, insolvency, certain actions) .
- Indemnification/coverage: Administrator indemnification and limitations of liability; officers provided by Administrator covered by the Funds’ D&O/E&O policy per agreement terms .
- Secondary market support: Paralel (or affiliates) to provide secondary market support up to a specified amount included in fees (budget noted in Appendix A) .
- Non-compete/non-solicit; severance; change‑of‑control economics: Not disclosed in Fund filings for Jeremy May specifically; no golden parachute or accelerated vesting terms disclosed by the Funds .
Investment Implications
- Pay-for-performance linkage risk: Absence of Fund-paid compensation disclosures and no compensation committee suggests Jeremy May’s incentives are set at Paralel, a private administrator; investors lack visibility into his variable pay and performance metrics, reducing clarity on alignment with Fund outcomes .
- Insider selling pressure: Zero reported beneficial ownership across GLV/GLQ/GLO implies minimal near-term selling pressure from officer holdings; Section 16 reporting indicates compliance with no officer holdings reported for May .
- Retention risk and continuity: Jeremy May’s role is anchored to the Paralel Administration Agreement (three-year initial term, annual renewals, termination provisions); changes to the agreement or administrator relationship could trigger officer transitions, posing operational continuity risk .
- Governance structure: Officers are annually elected; with administration centralized under Paralel and no compensation committee at the Funds, oversight of executive incentives occurs outside shareholder purview, warranting investor monitoring of administrator performance and contract renewals .
Key disclosures to monitor: any future proxies or 8‑Ks that introduce officer compensation reporting, changes to the Paralel Agreement (fees, services, terminations), ownership changes for officers, and secondary market support execution metrics .