Jennifer Conrad
About Jennifer Conrad
Independent Board Member of DWS Municipal Income Trust (KTF), born 1959, serving as a Class I trustee since 2024 with a term running to the 2027 annual meeting. She is an emerita professor of finance at UNC’s Kenan-Flagler Business School, with prior roles including interim dean (2022–2023) and distinguished professor (2003–2025), reflecting deep expertise in investments, derivatives, and corporate finance . She is classified as a non-interested, Independent Board Member under the Investment Company Act; all standing committees are composed solely of independent members .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| UNC Kenan-Flagler Business School | Emerita Professor of Finance | Since 2025 | Academic leadership and finance expertise |
| UNC Kenan-Flagler Business School | Interim Dean | 2022–2023 | School leadership; governance experience |
| UNC Kenan-Flagler Business School | Dalton McMichael Sr. Distinguished Professor of Finance | 2003–2025 | Research and teaching in investments/derivatives/corporate finance |
| Four Corners Center for Research on Index Investments | Director | 2021–2023 | Led index investment research initiatives |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | Other public company directorships in past five years: None |
Board Governance
- Independence: Classified as an Independent Board Member; committees comprised solely of independent trustees per NYSE standards for closed-end funds .
- Committees: Audit Committee Vice Chair; Audit Committee held six meetings in 2024 .
- Other committees: Not listed on Nominating and Governance or Operations Committees; those committees’ current memberships do not include Conrad .
- Attendance and engagement: In 2024, the Board held five regular and one special meeting; each Board Member attended at least 75% of Board and applicable committee meetings .
- Scope of oversight: Oversees 66 portfolios in the DWS fund complex .
Fixed Compensation
| Component | FY 2024 | Notes |
|---|---|---|
| KTF cash compensation | $667 | Most recently completed fiscal year for KTF ended Nov 30, 2024 |
| Total compensation from DWS fund complex | $35,497 | Compensation across 67 funds as of Dec 31, 2024; elected effective Sep 20, 2024 |
- Structure: Independent Board Members receive retainer fees and specified amounts for committee service; no employee benefits (pension, retirement, health insurance) from the Funds .
Performance Compensation
- No performance-based pay disclosed for directors; no stock awards or options are described in the proxy for Independent Board Members. Compensation is retainer-based with committee-role fees (e.g., chairs) where applicable .
Other Directorships & Interlocks
| Company | Role | Years | Committee Roles |
|---|---|---|---|
| None reported | — | — | — |
- The proxy lists “Other Directorships Held by Board Member During the Past Five Years: None” for Jennifer Conrad .
Expertise & Qualifications
- Finance expertise: Deep subject-matter expertise across investments, derivatives, and corporate finance, cited by the Nominating and Governance Committee as key attributes for board service .
- Academic leadership: Interim dean experience evidences governance acumen and organizational oversight capability .
Equity Ownership
| Metric | As of Aug 1, 2025 |
|---|---|
| KTF common shares beneficially owned (number) | 0 |
| KTF dollar range of equity securities | $0 |
| Aggregate dollar range across all DWS funds overseen | $0 |
| Preferred shares owned | 0 (Independent Board Members and executive officers did not own any Preferred Shares) |
| Ownership % of KTF common outstanding | 0.000% (0 of 39,172,837.98 common shares outstanding) |
Insider Trades
| Date | Form | Transaction Type | Shares | Price | Notes |
|---|---|---|---|---|---|
| — | — | — | — | — | Proxy notes all required Section 16(a) filings were timely for FY ended Nov 30, 2024; no specific transactions disclosed . |
Governance Assessment
- Strengths: Independent status, Audit Committee vice-chair role, and documented committee activity (six Audit Committee meetings in 2024) indicate active oversight of financial reporting, valuations, and audit independence . Board process includes independent legal counsel and private sessions, supporting robust governance practices .
- Alignment considerations: No share ownership in KTF or other DWS funds overseen as of Aug 1, 2025, which may limit direct economic alignment with shareholders . Oversight of 66 portfolios suggests significant breadth; time demands could diffuse focus, though not necessarily impacting effectiveness .
- Attendance: Meets minimum attendance thresholds (≥75%) alongside peers in 2024, supporting baseline engagement .
- Conflicts and related-party exposure: None disclosed; independent classification and committee compositions mitigate conflict risk . Section 16 compliance reported as timely .
- RED FLAGS: Zero ownership in KTF; consider as a potential alignment gap for investors prioritizing “skin in the game” .