David L. DiLorenzo
About David L. DiLorenzo
David L. DiLorenzo is President of MFS Government Markets Income Trust (MGF) and the other MFS closed-end funds; he has served as an officer since July 2005 and previously served as Treasurer from January 2012 through December 2016 . He is a Senior Vice President at Massachusetts Financial Services Company (MFS), which serves as investment adviser and administrator; certain MFS employees serve as the Trusts’ officers, including the principal executive officer . The proxy does not disclose executive performance metrics (e.g., TSR, revenue or EBITDA growth) for officers; it focuses on trustee elections and trustee compensation .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| MFS closed-end funds (including MGF) | Treasurer | Jan 2012 – Dec 2016 | Role tenure disclosed; no impact commentary provided |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not a director/trustee of public companies | N/A | N/A | Officers do not serve as directors or trustees of public companies |
Fixed Compensation
- Officers are MFS employees who serve as the Trusts’ officers; the proxy does not include officer salary, bonus, or equity compensation tables. Only trustee cash compensation is disclosed, and “Interested Trustee(s) receives no compensation from any Trust for their services as Trustee(s)” .
Performance Compensation
- No disclosure of officer performance-based pay designs (RSUs, PSUs, options), metrics, weightings, targets, realizations, or vesting schedules in the proxy; content centers on trustee elections/compensation and fund governance .
Equity Ownership & Alignment
- The proxy includes Schedule B listing shareholders who beneficially own more than 5% of outstanding shares; it does not provide officer-level beneficial ownership breakdowns (vested/unvested, options, pledged shares) .
- Section 16(a) compliance: Based on the Trusts’ review, all Section 16(a) transactions were reported timely, except a late Form 3 for Treasurer Kasey Phillips due to administrative oversight; no late filings were indicated for Mr. DiLorenzo .
Employment Terms
- Officers hold office until a successor is chosen and qualified, or until retirement, resignation, or removal .
- Indemnification: Under the Trust’s Declaration of Trust, Trustees and officers are indemnified against liabilities and expenses in connection with litigation arising from their offices, subject to good faith and conduct standards; this indemnification provision applies to officers such as Mr. DiLorenzo .
- The proxy does not disclose officer employment contracts, severance, change-of-control terms, non-compete, non-solicit, garden leave, consulting arrangements, or clawback provisions; those would be governed by MFS employment policies, not fund-level disclosures .
Investment Implications
- Pay-for-performance assessment is not possible at the fund level: officer compensation is handled by MFS and not reported in the Trust proxy; alignment must be inferred from MFS governance/oversight rather than fund-specific incentive metrics .
- No disclosed officer ownership or pledging data; Section 16(a) review shows no issues for DiLorenzo, limiting visibility into insider trading pressure signals .
- Tenure continuity: President/officer since July 2005 and prior Treasurer role suggest stability in fund administration and operations, reducing execution risk, but quantitative performance metrics during tenure are not provided in the proxy .