Jeffrey Zlot
About Jeffrey L. Zlot
Independent Class III Trustee of the Fund since July 2013 (current term expires 2026). Year of birth: 1971. Managing Director at Tiedemann Advisors since 1997; prior roles include Chief Financial Officer of The Presidio Group LLC (1997–2007), Chief Compliance Officer of Presidio Merchant Partners, and Research Analyst at Peter Hart Research Associates. Education: B.A. in Government from Colby College; Certified Financial Planner (CFP). Serves as President of the Board of Camp Tawonga (non‑profit) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Tiedemann Advisors (formerly Tiedemann Wealth Management) | Managing Director | Since 1997 | Senior leadership in investment consulting and wealth management |
| The Presidio Group LLC | Chief Financial Officer | 1997–2007 | Oversight of finance and controls |
| Presidio Merchant Partners, LLC | Chief Compliance Officer | Previously (dates not specified) | Regulatory compliance leadership |
| Peter Hart Research Associates | Research Analyst | Previously (dates not specified) | Research and analytics |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Camp Tawonga | President of the Board | Not specified | Non‑profit board leadership |
| Other public company directorships | None | — | No Exchange Act registrant directorships disclosed |
Board Governance
- Committee memberships: Audit Committee member; Nominating Committee member and Chair .
- Independence: Meets SEC and 1940 Act independence standards for audit and governance committees .
- Board/Committee activity: Board met 6 times in FY ended Oct 31, 2024; Audit Committee met 2 times; Nominating Committee met 2 times .
- Attendance: Each Trustee (including Zlot) attended at least 75% of Board and applicable Committee meetings in FY 2024 .
- Annual meeting attendance policy: The Fund does not require Trustees to attend the Annual Meeting of Shareholders .
Fixed Compensation
| Component | Amount (USD) | Notes |
|---|---|---|
| Annual Retainer | $52,500 | Independent Trustees only |
| Regular Board Meeting Fees (annual, assuming quarterly meetings) | $21,000 | Cash meeting fees |
| Special Telephonic Meeting Fees (annual) | $3,750 | Cash meeting fees |
| Committee Meeting Fees (excluding Audit) | $6,000 | Cash meeting fees |
| Audit Committee Meeting Fee | $6,750 | Cash meeting fees |
| FY2024 Aggregate Compensation from KIO (Zlot) | $35,625 | Paid/allocated for Fund service |
| FY2024 Total Compensation from Fund Complex (Zlot) | $71,250 | Across Fund Complex entities |
- Deferred compensation plan: Independent Trustees may elect to defer part or all fees; deferrals are placed in a deferral account and deemed invested in a Fund offered under the Plan .
- FY2024 deferral: Zlot participated; $71,250 was directed to the Plan on his behalf .
Performance Compensation
- Equity/Options: No stock awards, performance share units (PSUs), restricted stock units (RSUs), or option awards for Independent Trustees are described; compensation framework comprises cash retainer/meeting fees and optional fee deferral .
- Performance metrics: No revenue/EBITDA/TSR or ESG performance metrics tied to director pay disclosed .
| Metric Category | Details |
|---|---|
| Equity grants (RSUs/PSUs) | None disclosed |
| Option awards | None disclosed |
| Performance metrics used for director pay | None disclosed |
| Clawbacks / CoC provisions | Not disclosed for Trustees |
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Public company boards | None disclosed for Zlot |
| Registered investment companies overseen | 2 within the Fund Complex |
| Interlocks with competitors/suppliers/customers | None disclosed |
Expertise & Qualifications
- Finance and compliance leadership: CFO and CCO roles indicating strong financial oversight and regulatory acumen .
- Investment advisory experience: >25 years at Tiedemann Advisors; relevant for fund governance and investor alignment .
- Education/credentials: B.A. in Government (Colby College); Certified Financial Planner .
Equity Ownership
| Item | Value |
|---|---|
| Dollar range of KIO shares beneficially owned (Zlot) | Over $100,000 |
| Aggregate dollar range across Fund Complex | Over $100,000 |
| Shares pledged as collateral | Not disclosed |
| Insider group ownership | Trustees/officers as a group owned <1% of outstanding shares (as of Jan 31, 2025) |
| Holdings in Adviser/affiliates by independent trustees/immediate family | None (no securities owned) |
Governance Assessment
- Strengths: Independent status; Chair of Nominating Committee; service on Audit Committee; documented ≥75% attendance; relevant finance/compliance background; meaningful personal capital aligned via “Over $100,000” beneficial ownership and fee deferral tied to Fund performance .
- Compensation framework: Cash-based with transparent fee schedule; optional deferral plan that is economically linked to Fund returns; no equity/options or performance-linked director pay—reduces pay-for-performance complexity and potential misalignment risks for a closed‑end fund .
- Conflicts/related-party exposure: No ownership in Adviser or control affiliates by independent trustees/immediate family; no related-party transactions disclosed involving Zlot—low direct conflict indicators .
- Considerations: The Fund does not require annual meeting attendance (neutral but worth monitoring for shareholder engagement optics) . Group ownership <1% may limit aggregate insider alignment but Zlot’s personal “Over $100,000” stake and deferral participation mitigate this concern .
Overall signal: Independent governance with active committee leadership (Chair of Nominating; Audit member), solid attendance, and personal economic alignment through beneficial ownership and deferral participation. No red‑flag conflicts or pay anomalies identified in the latest proxy disclosures .