John McGovern
Treasurer and Principal Financial and Accounting Officer at Neuberger High Yield Strategies Fund
Executive
About John McGovern
John M. McGovern (born 1970) serves as Treasurer and Principal Financial and Accounting Officer of Neuberger Berman High Yield Strategies Fund Inc. (NHS) and sister funds, roles he has held since 2006 at NHS and since 2013 at NML; he is a Managing Director at Neuberger Berman (since 2022) and has been with NBIA since 1993, previously Senior Vice President and Vice President in fund finance and administration . As PFAO, he signs Sarbanes‑Oxley certifications for fund reports (e.g., Section 906 certifications for NML dated August 7, 2025), evidencing accountability for fair presentation of financial condition and results of operations . Fund-level officer compensation metrics (TSR, revenue, EBITDA growth linked to pay) are not disclosed in the DEF 14A; officers who are NBIA employees serve without compensation from the Funds .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Neuberger Berman Investment Advisers LLC (NBIA) | Managing Director | 2022–present | Senior finance leadership for registered funds; oversight of fund treasury, financial reporting, and certifications as PFAO |
| Neuberger Berman / NBIA | Senior Vice President | 2007–2021 | Expanded responsibilities in fund administration and financial controls across NB fund complex |
| Neuberger Berman | Vice President | 2004–2006 | Fund finance and operations roles preceding appointment as Treasurer/PFAO |
| NB Funds (NHS/NRO/NML) | Assistant Treasurer | 2002–2005 | Supported treasury operations and financial reporting for registered funds |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| — | — | — | No external board or outside directorships are disclosed for McGovern in the DEF 14A . |
Fixed Compensation
| Component | Disclosure | Notes |
|---|---|---|
| Fund-level cash compensation | None | Officers who are NBIA employees serve without any compensation from the Funds; officer compensation is at NBIA and not disclosed in the DEF 14A . |
| Base salary (NBIA) | Not disclosed | Compensation determined by NBIA; no fund-level disclosure . |
| Target bonus % (NBIA) | Not disclosed | Compensation determined by NBIA; no fund-level disclosure . |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Fund-linked variable pay (officer) | N/A | N/A | N/A | N/A | N/A |
| Note | Officers are not compensated by the Funds; any NBIA-level incentive metrics are not disclosed in the DEF 14A . |
Equity Ownership & Alignment
| Item | Disclosure | Notes |
|---|---|---|
| Beneficial ownership in NHS/NML/NRO | Not disclosed for officers | DEF 14A provides director holdings; officer holdings (including McGovern) are not presented . |
| Pledging of company stock | Not disclosed | No pledging disclosures for officers in DEF 14A . |
| Stock ownership guidelines | Not disclosed for officers | DEF 14A discusses director compensation; no officer ownership guidelines are disclosed . |
| Compliance/Code of Ethics | Disclosed | Ethics & Compliance Committee oversees Codes restricting personal securities transactions, including fund shares, for employees, officers, and directors . |
Employment Terms
| Term | Detail |
|---|---|
| Current role and tenure | Treasurer and Principal Financial and Accounting Officer since 2006 (NHS), 2005 (NRO), 2013 (NML) |
| Officer service conditions | Officers serve at the pleasure of the Directors and may be removed at any time with or without cause (bylaws) |
| Certifications/signatory | Signs Sarbanes‑Oxley Section 906 certifications for fund reports (e.g., NML Form N‑CSR, August 7, 2025) |
| Contract term/auto renew | Not disclosed for officers in DEF 14A |
| Severance/change-of-control | Not disclosed for officers; no fund-level golden parachute or CoC terms disclosed for officers |
| Non‑compete/non‑solicit/garden leave | Not disclosed for officers |
Performance & Track Record
| Indicator | Evidence |
|---|---|
| Financial stewardship | Long-tenured fund PFAO with responsibility for fair presentation certifications (SOX 906) |
| Governance & oversight environment | Robust committee oversight (Audit; Ethics & Compliance; Closed-End Funds; Contract Review; Investment Performance) supporting financial controls and compliance frameworks across funds |
Board Governance (Context)
| Governance Element | NHS Fund Board Framework |
|---|---|
| Audit Committee | Oversees accounting, financial reporting, fair value determinations; composed entirely of Independent Directors; met seven times in FY 2024 |
| Ethics & Compliance Committee | Oversees code of ethics and compliance program; addresses personal trading restrictions for employees/officers/directors |
| Chair of the Board | Independent Chair structure; leadership and agenda-setting responsibilities |
Investment Implications
- Compensation alignment and trading signals: McGovern receives no fund-level cash/equity pay as an officer; compensation occurs at NBIA and is not disclosed, limiting direct pay-for-performance signals linked to NHS/NML/NRO outcomes . The funds’ Codes of Ethics restrict personal securities transactions, reducing insider selling/pledging risk signals from officers .
- Retention/transition risk: Extended tenure in the PFAO role (since 2006 at NHS) and continued SOX certification responsibilities indicate institutional continuity; officers serve at Board pleasure, enabling swift changes without severance obligations disclosed at the fund level .
- Governance and execution: Strong committee oversight (Audit, Ethics & Compliance, Investment Performance) provides structured control over reporting, valuation, and compliance; McGovern’s PFAO role operates within this framework, supporting reliable reporting and mitigated compliance risk .