Stephanie Vitiello
About Stephanie Vitiello
Stephanie Vitiello (born 06/21/1983) serves as Secretary (since April 2021) and Chief Compliance Officer (CCO) and Anti-Money Laundering Officer (since November 2021) of Highland Global Allocation Fund (HGLB), with an indefinite term of office . She is Chief Compliance Officer and Counsel at Skyview Group (since February 2021) and previously held legal and distressed investing roles at Highland Capital Management, L.P. (HCMLP) . As an executive officer of the Fund, she receives no direct remuneration from HGLB; compensation is paid by the adviser and affiliates, limiting visibility into pay-for-performance alignment at the fund level . She is an authorized SEC filing signatory for HGLB (e.g., DEF 14A notice, N-PX, Schedule 13G/A), reflecting core compliance and governance credentials .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Highland Capital Management, L.P. (HCMLP) | Managing Director – Distressed; Assistant General Counsel; Associate General Counsel; In-House Counsel | Prior to Feb 2021 | Legal and distressed investing expertise supporting complex transactions and compliance |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Skyview Group | Chief Compliance Officer and Counsel | Feb 2021–present | Provides compliance oversight and legal support; Skyview provides operational support to NexPoint (the adviser), with dual-employees structure; compensation borne by adviser, not the Fund . |
| Highland Global Allocation Fund (registrant role) | Authorized SEC filing signatory (Secretary/CCO) | 2021–present | Ensures regulatory compliance and governance through timely SEC filings . |
Fixed Compensation
Executive officers of HGLB receive no direct remuneration from the Fund; compensation is paid by the adviser and affiliates. The proxy does not disclose base salary, bonus targets/actuals, or perquisites for Fund officers.
| Component | 2024 | Notes |
|---|---|---|
| Base Salary | Not disclosed | Officers receive no direct remuneration from HGLB . |
| Target Bonus % | Not disclosed | Not disclosed for Fund officers . |
| Actual Bonus Paid | Not disclosed | Not disclosed for Fund officers . |
| Perquisites | Not disclosed | Trustees’ fees disclosed separately; officer perquisites not disclosed . |
Performance Compensation
The proxy provides no detail on RSUs/PSUs/options, performance metrics, weighting, targets, payouts, or vesting for Fund officers.
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for Fund officers | — | — | — | — | — |
The Fund’s proxy focuses on trustee compensation; executive officer incentive structures, if any, reside with NexPoint/Skyview and are not reported at the HGLB registrant level .
Equity Ownership & Alignment
| Item | Data |
|---|---|
| Total beneficial ownership (Stephanie Vitiello) | Not disclosed at individual officer level . |
| Officer/Trustee group ownership | Less than 0.01% of outstanding Common Shares (as of Feb 28, 2025) . |
| Shares outstanding (record date) | 23,182,517 (as of Apr 30, 2025) . |
| Vested vs. unvested shares | Not disclosed . |
| Options (exercisable/unexercisable) | Not disclosed . |
| Shares pledged/hedged | Not disclosed . |
| Stock ownership guidelines/compliance | Not disclosed for officers . |
Employment Terms
| Term | Disclosure |
|---|---|
| Current Fund roles | Secretary since April 2021; CCO and AML Officer since November 2021 . |
| Term length | Indefinite (officers serve at the pleasure of the Trustees) . |
| Employment start date (Fund) | April 2021 (Secretary); November 2021 (CCO/AML) . |
| Contract term/expiration | Not disclosed (no officer contracts disclosed in proxy) . |
| Auto-renewal | Not disclosed . |
| Severance/change-of-control economics | Not disclosed at Fund level . |
| Clawback provisions | Not disclosed for officers . |
| Non-compete/non-solicit | Not disclosed for officers . |
| Garden leave/consulting | Not disclosed . |
| Filing compliance | Fund believes officers complied with Section 16(a)/30(h) reporting requirements in the past fiscal year . |
Related Party & Governance Considerations
- Adviser and affiliates provide services; Skyview supports NexPoint under a Services Agreement; certain Skyview personnel became dual-employees of NexPoint Services, Inc.; compensation of adviser/Skyview/dual-employees is borne by the adviser, not the Fund .
- The Board oversees conflicts through governance/committee structures and CCO reporting; co-investment/allocation policies described to address conflicts across affiliated vehicles .
- Stephanie serves as the Fund’s Secretary/CCO and is regularly involved in regulatory filings (e.g., DEF 14A, N-PX, Schedule 13G/A) .
Performance & Track Record
- Role profile centers on compliance/governance; the proxy does not attribute Fund TSR, revenue, or EBITDA outcomes to executive officers nor disclose officer-level performance metrics or payouts .
- Fund-level operating and portfolio data are provided in shareholder reports (e.g., net assets $282.2 million as of March 31, 2025), but these are not linked to officer compensation in the proxy .
Investment Implications
- Compensation alignment: Because Fund officers receive no direct remuneration from HGLB and compensation resides with NexPoint/Skyview, investors lack visibility into Ms. Vitiello’s cash/equity mix, performance metrics, and vesting—reducing pay-for-performance signal quality at the registrant level .
- Insider ownership/pressure: With trustees/officers as a group holding less than 0.01% of shares, insider selling pressure and pledging risks appear low at the Fund level, but individual officer ownership, pledging, and hedging are not disclosed—limiting skin‑in‑the‑game analysis for Ms. Vitiello .
- Retention/transition risk: Employment terms are at‑will with indefinite tenure and no disclosed severance or change‑of‑control protections at the Fund level; retention dynamics likely governed by adviser policies and contracts not filed with HGLB, muting explicit retention risk signals from Fund filings .
- Trading signals: As CCO/Secretary, her role is governance‑oriented; absent Form 4 activity and officer‑level ownership disclosures, there are minimal direct trading signals attributable to Ms. Vitiello from HGLB filings. Continue monitoring for any Item 5.02 8‑Ks and Section 16 filings naming her specifically .
Data limitations note: Closed‑end fund proxies (HGLB) disclose trustee compensation and governance but do not report officer compensation or individual officer ownership; compensation flows through the adviser and affiliates per the Services Agreement .