Dino Capasso
About Dino Capasso
Dino Capasso (year of birth: 1974) is Chief Compliance Officer of PGIM High Yield Bond Fund, Inc. (ISD) and other PGIM funds, serving in the role since July 2024; he is also a Vice President of PGIM Investments LLC since June 2024 . He previously served as Chief Compliance Officer and Vice President of T. Rowe Price Associates, Inc., T. Rowe Price Investment Management, Inc., and the T. Rowe Price mutual fund complex from May 2022 to May 2024, and earlier was Chief Compliance Officer of PGIM Investments LLC and AST Investment Services, Inc., including CCO for the PGIM Retail Funds and Prudential Annuities Funds (2019–2022) . In his earlier tenure with PGIM, he had been a fund officer of ISD since March 2018, following senior legal roles at PIMCO (2012–2017) .
Note: ISD’s proxy does not provide TSR, revenue growth, or EBITDA growth metrics for officers; ISD’s officers are paid by the Manager (PGIM Investments), and officer compensation is not disclosed by the Fund .
Past Roles
| Organization | Role | Years | Strategic impact / scope |
|---|---|---|---|
| T. Rowe Price Associates, Inc.; T. Rowe Price Investment Management, Inc.; T. Rowe Price mutual fund complex | Chief Compliance Officer and Vice President | May 2022 – May 2024 | CCO for the T. Rowe Price mutual fund complex per ISD proxy biography |
| PGIM Investments LLC; AST Investment Services, Inc. | Chief Compliance Officer | Sept 2019 – Apr 2022 | CCO for PGIM Retail Funds and Prudential Annuities Funds; also CCO of PGIM Private Real Estate Fund, Inc. (Mar–Apr 2022) |
| PGIM Investments LLC; ASTIS | Vice President and Deputy Chief Compliance Officer | Jun 2017 – Sept 2019 | Deputy CCO across PGIM Investments/ASTIS prior to promotion to CCO |
| Pacific Investment Management Company (PIMCO) | Senior Vice President & Senior Counsel (earlier VP & Counsel) | Jan 2016 – Jun 2017 (SVP/Senior Counsel); Feb 2012 – Dec 2015 (VP/Counsel) | Senior legal roles at PIMCO before joining PGIM in 2017 |
External Roles
- No external board or committee roles for Mr. Capasso are disclosed in ISD’s proxy; officer biographies are limited to fund and industry roles .
Fixed Compensation
ISD is a registered investment company whose officers are paid by the Manager (PGIM Investments). As a result, the Fund does not disclose officer-level salary/bonus/equity compensation.
| Component | Disclosure status | Source |
|---|---|---|
| Payor | Manager (PGIM Investments) pays all compensation and expenses of officers and employees of the Fund | |
| Base salary | Not disclosed by the Fund | |
| Target/Actual bonus | Not disclosed by the Fund | |
| Director pay (context) | Only Independent Directors’ compensation is paid by the Fund and disclosed; Interested Directors and officers do not receive compensation from PGIM Investments–managed funds |
Performance Compensation
| Element | Metrics/weighting | Targets/actuals | Payout/vesting | Disclosure status |
|---|---|---|---|---|
| Annual incentive plan (cash) | — | — | — | Not disclosed by the Fund; officers are compensated by the Manager (PGIM Investments) |
| Equity awards (RSUs/PSUs/options) | — | — | — | Not disclosed by the Fund; any equity would be at the Manager level, not the Fund |
| Clawback/anti-hedging/pledging policies | — | — | — | Not disclosed in the proxy materials reviewed |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Officer beneficial ownership (ISD) | Not reported for officers; the proxy provides a director share ownership table, but no officer ownership breakdown |
| Section 16(a) compliance | For FY ended July 31, 2024, the Fund believes all Section 16 filing requirements were met by Directors, officers, >10% holders, and certain affiliates |
| Pledging/hedging | No pledging/hedging disclosure specific to officers found in the proxy materials reviewed |
| Stock ownership guidelines | No officer stock ownership guidelines disclosed for the Fund; directors’ ownership ranges are disclosed (directors only) |
Employment Terms
| Term | Detail |
|---|---|
| Current ISD role start | Chief Compliance Officer since July 2024; Vice President of PGIM Investments since June 2024 |
| Prior ISD tenure | Served as a fund officer since March 2018 in earlier PGIM tenure |
| Employment agreement / Severance / Change-in-control | No officer employment contracts, severance, or change-in-control economics disclosed by the Fund (officers are compensated by the Manager) |
| Governance interface | The Board’s Compliance Committee serves as liaison with the CCO and met four times in FY ended July 31, 2024 |
Investment Implications
- Pay-for-performance evaluability: Because ISD’s officers are compensated by PGIM Investments and officer pay is not disclosed by the Fund, investors cannot assess Capasso’s salary/bonus/equity mix, performance metrics, or vesting schedules from ISD filings, limiting direct pay-for-performance analysis at the Fund level .
- Retention/transition context: Capasso rejoined PGIM in mid-2024 after serving as CCO at T. Rowe Price (May 2022–May 2024), indicating a recent leadership transition in the CCO role; earlier tenure at PGIM implies institutional continuity and familiarity with PGIM’s fund complex .
- Ownership alignment and trading signals: Officer-level beneficial ownership and any pledging/hedging disclosures are not provided in the proxy; Section 16(a) compliance is noted, but investors would need to review individual Form 4s on EDGAR to evaluate insider buying/selling pressure for Capasso specifically .
- Oversight rigor: The Board’s Compliance Committee met four times in FY2024 and explicitly serves as the liaison with the CCO, suggesting structured oversight mechanisms around compliance and regulatory risk management for the Fund .
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