Madeline Arment
About Madeline Arment
Madeline Arment serves as Assistant Treasurer of XAI Madison Equity Premium Income Fund (NYSE: MCN) since 2025; year of birth 1989. Her current primary role is Director of PFO Services at PINE Advisor Solutions (2022–present), with prior roles as Fund Controller at SS&C ALPS (2018–2022) and Manager, Investment Operations at Shelton Capital Management (2016–2018) . The Fund’s officers receive no compensation from the Fund, and her beneficial ownership is reported as “None” as of December 31, 2024 and “No securities are beneficially owned” on her Form 3 dated February 27, 2025 . The proxy and filings do not disclose company TSR or financial performance metrics tied to her role; MCN had 21,116,722 common shares outstanding as of the June 20, 2025 record date for the 2025 annual meeting .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| PINE Advisor Solutions | Director of PFO Services | 2022–present | Not disclosed (biographical title only) |
| SS&C ALPS | Fund Controller | 2018–2022 | Not disclosed (biographical title only) |
| Shelton Capital Management | Manager, Investment Operations | 2016–2018 | Not disclosed (biographical title only) |
Fixed Compensation
| Component | Disclosure | Notes |
|---|---|---|
| Base salary | Not paid by the Fund | Officers receive no compensation from the Fund; any compensation would be through PINE Advisor Solutions or other employers |
| Target bonus % | Not disclosed | Not disclosed in Fund proxy |
| Actual bonus paid | Not disclosed | Not disclosed in Fund proxy |
| Perquisites | Not disclosed | Not disclosed in Fund proxy |
The Fund states: “The Fund’s officers receive no compensation from the Fund…” . Ms. Arment serves pursuant to a Services Agreement with PINE Advisor Solutions, which receives an annual fee (payable monthly) and expense reimbursement; officer designations must be approved by the Board .
Performance Compensation
| Incentive type | Grant date | Shares/options | Fair value | Vesting schedule | Performance metrics | Payout/vesting status |
|---|---|---|---|---|---|---|
| RSUs/PSUs | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Stock options | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
No equity awards for Fund officers are disclosed; officers are compensated outside the Fund via service providers (PINE) .
Equity Ownership & Alignment
| Item | As of Dec 31, 2024 | As of Feb 27, 2025 | Notes |
|---|---|---|---|
| Direct/indirect shares owned | None | No securities beneficially owned (Form 3) | Initial Section 16 statement indicates zero holdings |
| Options (exercisable/unexercisable) | Not disclosed | Not disclosed | No derivative holdings reported on Form 3 |
| RSUs/PSUs (vested/unvested) | Not disclosed | Not disclosed | No beneficial ownership reported |
| Shares pledged as collateral | Not disclosed | Not disclosed | No pledging disclosure specific to Ms. Arment |
| Ownership guidelines | Not disclosed | Not disclosed | No officer ownership guideline disclosure for the Fund |
| Shares outstanding (context) | 21,116,722 (record date June 20, 2025) | — | For context on potential ownership percentage |
Employment Terms
| Term | Disclosure |
|---|---|
| Appointment | Officers serve at the pleasure of the Board until successor appointed or earlier resignation/removal |
| Services Agreement | Ms. Arment serves pursuant to a Services Agreement with PINE Advisors, LLC; PINE receives an annual fee (payable monthly) and reimbursement of expenses |
| Designation approvals | Officer designations (CFO/Treasurer, CCO, Assistant Treasurer) must be approved by the Board; CCO approval requires majority of Independent Trustees |
| Severance provisions | Not disclosed in proxy |
| Change-of-control provisions | Not disclosed in proxy |
| Clawback/hedging/pledging policies | Not disclosed specific to officers; no individual pledging disclosed for Ms. Arment |
| Non-compete/non-solicit | Not disclosed |
| Garden leave/consulting | Not disclosed |
Investment Implications
- Alignment: With zero reported beneficial ownership and no Fund-paid officer compensation, alignment to Fund shareholder returns appears limited; Ms. Arment’s role is provided via PINE’s service agreement rather than direct Fund incentives .
- Insider selling pressure: Form 3 shows no securities owned and there are no disclosed Form 4 transactions, implying minimal near-term insider selling pressure from this executive .
- Retention/continuity: Continuity is tied to the PINE Advisor Solutions service agreement and Board approvals rather than an employment contract with Fund-level severance or change-of-control economics; changes to service provider arrangements could impact tenure .
- Compensation risk: Absence of disclosed performance-linked pay, vesting schedules, or equity awards at the Fund level reduces typical pay-for-performance signals; monitoring of service provider terms and Board approvals is more relevant than traditional executive comp benchmarking .