Sandra G. Sponem
About Sandra G. Sponem
Sandra G. Sponem (year of birth: 1958) is an Independent Trustee of Guggenheim Strategic Opportunities Fund (GOF) since 2019 and chairs the Audit Committee. She is a retired finance executive and a Certified Public Accountant (inactive), previously serving as CFO of Piper Jaffray Companies (now Piper Sandler) and Senior Vice President & CFO of M.A. Mortenson Companies. The Board has determined she qualifies as an “audit committee financial expert” under SEC rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Piper Jaffray Companies (now Piper Sandler Companies) | Chief Financial Officer | Not disclosed | Financial leadership; basis for audit expertise |
| U.S. Bancorp Piper Jaffray, Inc. | Chief Financial Officer | Not disclosed | Financial leadership |
| M.A. Mortenson Companies (construction & real estate development) | Senior Vice President & Chief Financial Officer | 2007–2017 | Corporate finance and accounting oversight |
External Roles
| Organization | Role | Tenure |
|---|---|---|
| SPDR Series Trust (85 funds) | Trustee | 2018–present |
| SPDR Index Shares Funds (25 funds) | Trustee | 2018–present |
| SSGA Active Trust (32 funds) | Trustee | 2018–present |
| SSGA Master Trust (1 fund) | Trustee | 2018–2020 (former) |
Board Governance
- Classification and tenure: GOF Trustee (Class II), nominated to serve until the 2027 annual meeting; has served as Trustee of GOF since 2019 .
- Independence: Classified as an Independent Trustee under the 1940 Act and NYSE rules; as of Dec 31, 2024, neither she nor her immediate family members had any interest in the Adviser/Sub-Adviser or their control persons .
- Committee assignments:
- Audit Committee – Chair; responsible for oversight of financial reporting, internal controls, auditor independence and appointment (charter available online) .
- Executive Committee – Member (with Independent Chair Ronald E. Toupin, Jr. as Chair) .
- Nominating & Governance Committee – Member .
- Contracts Review Committee – Member .
- Valuation Oversight Committee – Member .
- Board leadership context: Independent Chair of the Board is Ronald E. Toupin, Jr. .
- Attendance and engagement: In FY ended 5/31/2024, GOF held 6 Board meetings; Audit 7; Nominating/Governance 3; Contracts Review 2; Valuation Oversight 4; each Trustee attended at least 75% of the meetings of the Board and their committees .
- Executive Committee meetings: Did not meet in FY ended 5/31/2024 .
Fixed Compensation
| Measure | GOF Amount (CY 2024) | GBAB Amount (CY 2024) | GUG Amount (CY 2024) | Fund Complex Total (CY 2024) |
|---|---|---|---|---|
| Aggregate compensation (Independent Trustee) | $38,107 | $18,729 | $21,126 | $397,500 |
- Structure: Independent Trustees receive a general annual retainer across covered boards, plus additional annual retainers for chairs (Board, Audit, Contracts Review, Nominating & Governance, Valuation Oversight) and fees for special meetings; reasonable travel/out-of-pocket expenses reimbursed; compensation amounts changed effective Jan 1, 2025; no pension or retirement benefits accrue .
Performance Compensation
- No performance-linked compensation metrics for Independent Trustees were disclosed in the proxy; compensation is described as retainers and meeting fees with committee chair premiums; no equity grants or performance measures are mentioned .
Other Directorships & Interlocks
| Entity | Type | Role | Overlap/Interlock Notes |
|---|---|---|---|
| SPDR Series Trust; SPDR Index Shares Funds; SSGA Active Trust | Registered investment companies (State Street Global Advisors sponsored) | Trustee | External fund governance roles; no disclosed interest in GOF’s Adviser/Sub-Adviser mitigating direct conflict risk |
Expertise & Qualifications
- CPA (inactive); prior securities licenses; deep accounting and finance expertise; audit committee financial expert designation by the Board .
- Former CFO roles at a public broker-dealer (Piper Jaffray/Piper Sandler) and a large private construction/development company (M.A. Mortenson), supporting oversight of complex financial reporting and controls .
Equity Ownership
| Fund | Dollar Range of Beneficial Ownership (as of Dec 31, 2024) |
|---|---|
| GOF | None |
| GBAB | None |
| GUG | $10,001–$50,000 |
| Aggregate across all funds overseen | Over $100,000 |
- Group ownership: Trustees and officers as a group owned less than 1% of outstanding Shares of each Fund as of Dec 31, 2024 .
Governance Assessment
- Strengths:
- Audit Committee chaired by a qualified “audit committee financial expert,” with full independence under NYSE and the 1940 Act; robust chartered responsibilities and auditor oversight .
- Broad committee participation (Executive, Nominating & Governance, Contracts Review, Valuation Oversight), indicating high engagement across governance processes; documented meeting cadence and attendance thresholds met in FY 2024 .
- No interests for Independent Trustees or immediate family in Adviser/Sub-Adviser or their control persons, reducing related-party conflict risk .
- Alignment considerations:
- No stated GOF share ownership for Ms. Sponem may be viewed as a potential alignment gap specific to GOF, though aggregate complex ownership is over $100,000 .
- Compensation structure:
- Cash-based retainers and chair premiums with no disclosed equity or performance metrics; absence of a standing compensation committee for the Board (common for fund boards) places compensation oversight within Nominating & Governance and full Board processes .
- RED FLAGS:
- None disclosed for related-party transactions or adviser/sub-adviser interests; however, zero GOF beneficial ownership could be perceived as a weak “skin-in-the-game” signal for this specific fund .