Will Mabry
About Will Mabry
Will Mabry (born July 2, 1986) serves as Assistant Treasurer of Highland Opportunities and Income Fund (HFRO) since April 2021 with an indefinite term; Fund officers serve at the pleasure of the Trustees. He is Director, Fund Analysis at Skyview Group since February 2021; prior roles include Senior Manager – Fund Analysis, Manager – Fund Analysis, and Senior Fund Analyst at Highland Capital Management, L.P. HFRO’s proxy officer listings do not disclose education or executive performance metrics (e.g., TSR, revenue, EBITDA) for fund officers. As of February 28, 2025, Trustees and officers of the Fund as a group owned less than 0.01% of the Fund’s outstanding shares, and executive officers receive no direct remuneration from the Fund.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Highland Capital Management, L.P. (HCMLP) | Senior Fund Analyst | Prior to Feb 2021 | Fund analysis supporting investment operations across the platform. |
| Highland Capital Management, L.P. (HCMLP) | Manager – Fund Analysis | Prior to Feb 2021 | Led fund analysis processes and reporting. |
| Highland Capital Management, L.P. (HCMLP) | Senior Manager – Fund Analysis | Prior to Feb 2021 | Oversaw fund analytics teams and tools. |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Skyview Group | Director, Fund Analysis | Feb 2021–present | Provides administrative and operational support services to NexPoint/Adviser to enable advisory services to the Fund. |
Fixed Compensation
- HFRO discloses that “The executive officers of the Fund receive no direct remuneration from the Fund”; any cash compensation would be paid by the Adviser/Skyview and is not reported in HFRO’s proxy.
Performance Compensation
| Item | Terms | Status | Notes |
|---|---|---|---|
| Long-Term Incentive Plan (LTIP) for trustees and officers | Company intended to seek shareholder approval to implement an LTIP after deregistration (context during 2021 conversion discussion) | Contemplated in 2021 | No subsequent adoption details in later proxies; HFRO remained a registered closed-end fund. |
No RSUs/PSUs/options, performance metric weightings, targets, or payouts are disclosed for fund officers in HFRO’s proxies.
Equity Ownership & Alignment
| Metric | Value | As-of |
|---|---|---|
| Trustees and officers as a group – % of shares outstanding | <0.01% | Feb 28, 2025 |
- Trustee-level dollar ranges are disclosed (not applicable to Mabry as he is an officer, not a Trustee): Ethan Powell $10,001–$50,000; Dr. Bob Froehlich $10,001–$50,000; Bryan Ward None; Dorri McWhorter None; John Honis $1–$10,000 (2025 table).
- No disclosure of individual officer share holdings, vested vs. unvested shares, options, pledging, or ownership guideline compliance for officers.
Employment Terms
| Item | Detail | Citation |
|---|---|---|
| HFRO Role | Assistant Treasurer | |
| Start Date | April 2021 | |
| Term of Office | Indefinite; officers serve at the pleasure of the Trustees | |
| Principal Occupation | Director, Fund Analysis at Skyview Group since Feb 2021 | |
| Compensation from Fund | Executive officers receive no direct remuneration from the Fund | |
| Proxy Appointment (governance duty) | Appointed as attorney-in-fact/proxy for HFRO’s annual meeting proxy cards (2024 and 2025) |
No employment contract terms (non-compete, non-solicit, garden leave), severance or change-of-control provisions (single vs double trigger, multiples, accelerated vesting), clawback provisions, tax gross-ups, or deferred compensation disclosures are provided for officers in HFRO proxies.
Investment Implications
- Pay-for-performance visibility is limited: HFRO does not disclose officer cash or equity compensation; executive incentives, vesting schedules, and performance metric linkages (e.g., TSR, revenue, EBITDA) are unknown at the Fund level, constraining alignment analysis.
- Ownership alignment appears minimal at the Fund level (<0.01% combined officer and trustee ownership), implying low direct insider-driven selling pressure but also limited personal capital-at-risk alignment for officers.
- Retention risk resides at the Adviser/Skyview (where Mabry is employed); HFRO proxies provide no severance, COC, non-compete, or clawback terms for officers—monitor Adviser's disclosures and any Item 5.02 8-Ks for officer appointments/departures.
- Role scope suggests administrative/financial reporting responsibilities rather than investment decision-making; trading signals tied specifically to Mabry are likely limited; focus monitoring on broader HFRO governance, committee oversight (Audit/Governance/Administration) and any shifts in adviser arrangements or board composition.