Thomas Dusenberry
About Thomas Dusenberry
Thomas Dusenberry is identified as President in MHI’s June 10, 2025 joint proxy statement and served as one of the designated proxy holders for the July 17, 2025 special meeting to consider liquidation of the fund . Background details such as age, education, prior roles, and tenure are not disclosed in MHI’s proxy materials; likewise, fund-level performance metrics (TSR, revenue, EBITDA) tied to his role are not presented .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Pioneer Municipal High Income Fund, Inc. (MHI) and affiliated Pioneer funds | President (signatory) | 2025 | Led shareholder communications for special meeting on fund liquidation |
| Pioneer Municipal High Income Fund, Inc. (MHI) | Proxy appointee (with others) | 2025 | Designated as attorney/proxy holder for the July 17, 2025 special meeting |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed in MHI proxy materials | — | — | — |
Fixed Compensation
| Item | Value/Notes |
|---|---|
| Base salary | Not disclosed; the fund pays $0 to executive officers (executive officers are compensated by Amundi US or its affiliates) |
| Target bonus % | Not disclosed in fund proxies |
| Actual bonus paid | Not disclosed in fund proxies |
| Perquisites | Not disclosed; fund pays a portion of Chief Compliance Officer compensation, but no details for President role |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed (fund executive officers are paid by adviser) | — | — | — | — | — |
Equity Ownership & Alignment
| Item | Details |
|---|---|
| Total beneficial ownership | Not disclosed for Dusenberry individually; aggregate beneficial ownership of directors, nominees, and executive officers was less than 1% of outstanding shares as of Dec 31, 2023 |
| Vested vs unvested shares | Not disclosed |
| Options (exercisable vs unexercisable) | Not disclosed |
| Shares pledged as collateral | Not disclosed |
| Stock ownership guidelines & compliance status | Not disclosed |
Employment Terms
- Structure: Executive officers of the funds (including President) are employees of Amundi US or its affiliates; the funds themselves do not pay salaries, bonuses, or equity to executive officers, and do not disclose advisory-firm employment terms (severance, change-of-control, non-compete, etc.) .
- Role during 2025 transition: As President and proxy appointee, Dusenberry oversaw communications and proxy logistics for the special meeting to approve liquidation; no employment agreement terms are described in the fund proxy .
Investment Implications
- Limited pay-for-performance visibility: Compensation and incentive mechanics for the President are outside fund disclosures (paid by adviser), preventing analysis of bonus metrics, vesting schedules, or clawbacks; investors cannot assess alignment or potential insider selling pressure from fund proxies alone .
- Ownership alignment appears minimal at fund level: Aggregate director/nominee/executive ownership was under 1%, suggesting low insider equity exposure and limited fund-level alignment signals; individual holdings and pledging practices are not disclosed .
- Transitional governance context: The Board recommended liquidation amid activist pressure and failed advisory vote approvals; Dusenberry’s 2025 President role was tied to facilitating the liquidation process rather than long-term value creation, which reduces relevance of retention risk and performance-linked incentives at the fund level .
- Process and cost signals: Victory Capital is bearing an estimated ~$670,000 of certain liquidation costs (excluding transaction costs), indicating sponsor-level support for the process; however, this has no disclosed link to executive compensation economics for Dusenberry at the fund level .