Alice Tham
About Alice Tham
Alice H. Tham is Secretary of Herzfeld Credit Income Fund, Inc. (HERZ), serving since 2019. She is age 35 and, in parallel, serves as Operations Manager at Thomas J. Herzfeld Advisors, Inc. (the Fund’s adviser) from 2012 to present . The proxy does not disclose individual performance metrics (e.g., TSR, revenue, EBITDA) tied to her role; no officer-specific performance data are provided in the filing .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Thomas J. Herzfeld Advisors, Inc. | Operations Manager | 2012–present | Operations role at the Fund’s adviser; additional detail not disclosed |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Thomas J. Herzfeld Advisors, Inc. | Operations Manager | 2012–present | Supports adviser operations external to the Fund; additional detail not disclosed |
Fixed Compensation
- The proxy statement does not disclose officer salary, bonus, or other cash compensation. Officers are employees of the Adviser (as evidenced by principal occupation listings), and the Fund provides no officer-level compensation table. The filing explicitly notes only that “directors and executive officers of the Fund do not receive pension or retirement benefits from the Fund.” No salary/bonus amounts are provided .
Performance Compensation
- No disclosure of RSU/PSU grants, option awards, performance metric weightings, vesting schedules, or payout outcomes for Fund officers in the proxy statement .
Equity Ownership & Alignment
| Metric | As of Date | Value | Notes |
|---|---|---|---|
| Total Beneficial Ownership (shares) | Sep 30, 2025 | “-” | No specific share count reported for Alice H. Tham in the beneficial ownership table |
| Percent of Class | Sep 30, 2025 | “*” (less than 1%) | Per table footnote: “* Less than 1%” |
| Shares Outstanding (for % calc context) | Sep 30, 2025 | 16,908,652 | Company-wide shares outstanding cited for ownership table |
| Vested vs Unvested Shares | — | Not disclosed | No breakdown provided |
| Options (Exercisable/Unexercisable) | — | Not disclosed | No option holdings listed |
| In-the-money Option Value | — | Not disclosed | Not provided |
| Shares Pledged as Collateral | — | Not disclosed | No pledging disclosure specific to officers |
| Ownership Guidelines (Officers) | — | Not disclosed | No officer stock ownership guideline disclosure in proxy |
Additional context:
- Executive officers and directors as a group beneficially own 7,181,444 shares (42.47% of the Fund’s common stock) as of Sep 30, 2025, indicating significant insider/control alignment at the group level; this group number is driven in part by holdings reported for other insiders (e.g., Erik M. Herzfeld) .
Employment Terms
| Term | Detail |
|---|---|
| Current Role | Secretary, HERZ (2019–present) |
| Employment Start Date (HERZ) | 2019 (Secretary) |
| Employer (Principal Occupation) | Thomas J. Herzfeld Advisors, Inc., Operations Manager (2012–present) |
| Contract Term/Expiration | Not disclosed in proxy |
| Severance | Not disclosed in proxy |
| Change-in-Control | Not disclosed in proxy |
| Clawback | Not disclosed in proxy |
| Non-Compete/Non-Solicit | Not disclosed in proxy |
| Pensions/SERP | The Fund states directors and executive officers do not receive pension or retirement benefits from the Fund |
| Perquisites/Tax Gross-ups | Not disclosed in proxy |
Investment Implications
- Alignment via ownership: No individual share count is reported for Tham and her beneficial ownership is denoted as less than 1% of the class, suggesting limited direct equity alignment at the individual level; however, insider/control alignment is high at the group level (42.47% as a group) which can influence governance and strategic direction .
- Compensation transparency and incentives: The proxy provides no officer compensation detail (cash or equity) and no performance metrics/vesting for officers, limiting visibility into pay-for-performance alignment and potential insider selling pressure from award vesting cycles .
- Retention and contract risk: No employment contract, severance, or change-of-control economics are disclosed for officers, which reduces insight into retention protections or departure costs; absence of disclosed clawbacks or ownership guidelines for officers limits governance signal extraction .
- Trading signals: The proxy references specific Form 4s for other insiders (e.g., Brigitta and Erik M. Herzfeld) but none for Tham; without Form 4 activity, there are no current officer-specific trading signals (buy/sell/withhold for taxes) to incorporate into near-term sentiment screens .