Ted P. Becker
About Ted P. Becker
Ted P. Becker (born 1951) serves as Chief Compliance Officer (CCO) of Western Asset Investment Grade Income Fund Inc. (NYSE: PAI) and has held this officer role since 2007 . He is Vice President, Global Compliance at Franklin Templeton (since 2020) and CCO of Franklin Templeton Fund Adviser, LLC (FTFA) (since 2006), with prior compliance leadership roles at Legg Mason including Director of Global Compliance (2006–2020) and Managing Director of Compliance at Legg Mason & Co. (2005–2020) . Fund documents disclose that officers (including Mr. Becker) receive no remuneration from the Fund; compensation is paid by the investment adviser or affiliates, and Mr. Becker held no PAI common stock as of the most recent officer ownership disclosures .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Legg Mason | Director of Global Compliance | 2006–2020 | Not disclosed |
| Legg Mason & Co. | Managing Director of Compliance | 2005–2020 | Not disclosed |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Franklin Templeton | Vice President, Global Compliance | Since 2020 | Not disclosed |
| Franklin Templeton Fund Adviser, LLC (FTFA) | Chief Compliance Officer | Since 2006 | Not disclosed |
| Various Franklin/Legg funds | Chief Compliance Officer of certain funds | Since 2006 | Not disclosed |
Fixed Compensation
| Fiscal Year | Fund-paid Officer Remuneration to Mr. Becker | Evidence |
|---|---|---|
| FY 2022 | None (Fund paid no remuneration to its officers) | |
| FY 2023 | None (Fund paid no remuneration to its officers) | |
| FY 2024 | None (Fund paid no remuneration to its officers) |
Officers of the Fund are employees of the Investment Adviser or its affiliates; compensation specifics (base salary, bonus, equity) are not disclosed by the Fund .
Performance Compensation
- No cash bonus, equity awards, or performance-based incentive details are disclosed for Fund officers; the Fund reports paying no remuneration to officers, and does not include officer incentive design (metrics, weighting, vesting) in its proxy .
Equity Ownership & Alignment
| Metric | As of Mar 30, 2023 | As of Mar 30, 2024 | As of Mar 30/Dec 31, 2024–Mar 30, 2025 |
|---|---|---|---|
| Ted P. Becker – Common Stock Beneficially Owned | None | None | None (officer table, Mar 30, 2025) |
| Directors and Officers as a Group – % of Outstanding | <1% (Record Date) | <1% (Record Date) | <1% (Record Date) |
Shares pledged/hedged, stock ownership guidelines for officers, and compliance status are not disclosed in PAI’s proxies; director dollar ranges are disclosed separately, but Ted P. Becker’s beneficial ownership is “None” in officer tables .
Employment Terms
| Item | Disclosure |
|---|---|
| Officer Title | Chief Compliance Officer |
| Service Began | Since 2007 |
| Term of Office | Each officer holds office until a successor is chosen and qualified, or until earlier death, resignation, removal (with or without cause), or disqualification |
| Severance/Change-in-Control/Clawback/Non-compete | Not disclosed in Fund proxy (Fund pays no officer remuneration) |
Board Governance Context (for Fund oversight)
- Board committees: Audit; Executive and Contracts; Governance and Nominating; Investment and Performance. Each committee is chaired by an Independent Director; Independent Directors are >75% of the Board .
- Audit Committee independence and charter described; governance processes and meeting frequencies disclosed for FY2024 (and prior years) .
Investment Implications
- Pay-for-performance linkage cannot be assessed for Mr. Becker using Fund disclosures: the Fund pays no officer remuneration and provides no officer incentive metric design; compensation is determined by the adviser/affiliates and not reported at the Fund level .
- Insider selling pressure from this officer is de minimis: beneficial ownership of PAI common stock is disclosed as “None,” limiting potential forced sales or discretionary selling signals tied to vesting or guideline compliance .
- Retention risk signals are limited in Fund documents: long-standing tenure (“since 2007”) indicates role continuity, but employment contract economics (severance, change-in-control) and restrictive covenants are not disclosed by the Fund .
- Governance is anchored by an independent Board and committee oversight (Audit/Governance/Contracts/Performance), but there is no separate compensation committee at the Fund level to analyze officer pay frameworks, consistent with closed-end fund structures where officers are compensated by the adviser .