Jerald Francis Wirzman
About Jerald Francis Wirzman
Jerald Francis Wirzman (born 1963) is Chief Compliance Officer (CCO) of Pearl Diver Credit Company Inc. (PDCC) and has served in this role since July 2024; he will serve until a successor is appointed or until his resignation or removal . He brings 30+ years of fund services compliance experience, including senior roles at SS&C, Prudential, and Goldman Sachs; he holds a B.S. in Economics (The College of New Jersey) and an MBA (Rider University) . As CCO, he is directly accountable to PDCC’s Board within the fund’s risk oversight framework, which emphasizes Board- and committee-level oversight of compliance risk . The proxy/registration materials reviewed do not disclose TSR or company-level revenue/EBITDA figures suitable for linking pay to performance for this role .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| SS&C Registered Fund Services | Compliance Manager | 2021–present | Senior compliance leadership; concurrent with PDCC CCO since July 2024 |
| Prudential Insurance Company of America (PRIAC products) | Compliance Director (served as CCO to PRIAC’s Registered Insurance Retirement Products) | 2007–2021 | Oversight and reporting to PRIAC Board; built/ran product compliance |
| Goldman Sachs Asset Management / Goldman Sachs Hedge Fund Strategies | Vice President of Compliance | Prior to 2007 | Approved client-marketing materials; supervised restricted lists; prepared and filed Form ADV; developed/monitored procedures |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed | — | — | No public company directorships or committee roles disclosed for Mr. Wirzman in PDCC’s proxy/registration materials |
Fixed Compensation
PDCC is an externally managed closed-end fund. Company officers are not directly compensated by PDCC; compensation for officer functions (including CCO) flows through the Administrator under a services agreement.
| Component | Terms | Amount/Detail |
|---|---|---|
| Direct cash compensation paid by PDCC to officers | None | $0; “Currently none of the Company’s officers is directly compensated by the Company.” |
| Services Agreement (Administrator) — scope | PDCC pays for administrative services, including “fees and expenses associated with performing compliance functions” and the “allocable portion of the compensation of our chief financial officer, chief compliance officer and … support staff” | Administrator fees for Jul 9–Dec 31, 2024 totaled ~$148,468 (covers multiple functions; not officer-specific) |
Implication: No disclosed base salary/bonus for the CCO from PDCC; compensation is embedded in the Administrator fee structure, with no disclosed performance linkage from PDCC to the CCO .
Performance Compensation
| Incentive type | Metric(s) | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Equity (RSUs/PSUs) to officers | Not disclosed for officers | — | — | — | — | — |
| Cash bonus to officers | Not disclosed for officers | — | — | — | — | — |
- PDCC discloses no officer compensation program or performance metrics (revenue, EBITDA, TSR, ESG, etc.) for the CCO; officers are not directly compensated by PDCC and no equity incentive awards to officers are described in the proxy .
- PDCC has no separate compensation committee; the Governance & Nominating Committee sets Independent Director compensation, while the Board nominates officers, underscoring the externally managed structure with officer compensation running through service providers rather than PDCC .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Individual beneficial ownership (CCO) | Not individually disclosed for officers |
| Officers and directors as a group — common stock | Less than 1% of outstanding common stock |
Implication: There is no disclosed PDCC equity ownership for Mr. Wirzman; aggregate officer/director ownership is de minimis, implying limited direct stock-based alignment for the CCO .
Employment Terms
| Term | Disclosure |
|---|---|
| Start date | July 2024; succeeded Ivana Kovačić, who resigned in July 2024 in connection with her departure from ALPS Fund Services |
| Term/tenure mechanics | Serves as CCO until successor is duly appointed or until resignation or removal |
| Contract, severance, change-of-control | No CCO-specific employment agreement, severance, or CoC provisions are disclosed in the proxy |
| Reporting/oversight | CCO is directly accountable to the Board as part of the fund’s risk oversight system |
| Compensation mechanics | Compensation for the CCO function is covered within the Administrator’s Services Agreement (allocable portion), not paid directly by PDCC |
Investment Implications
- Alignment and pay-for-performance: Officers are not paid directly by PDCC, and no equity or performance-based incentives are disclosed for the CCO. Aggregate officer/director common stock ownership is <1%, suggesting limited direct stock-based alignment for the CCO, and minimal vesting-related selling pressure signals .
- Retention/continuity: The CCO role is delivered via service providers (current employer SS&C; prior CCO departure tied to ALPS), and compensation flows through the Administrator. Continuity and retention may hinge more on service provider arrangements than on PDCC-specific incentives .
- Governance and risk control: The CCO is directly accountable to the Board and embedded in the fund’s risk oversight framework, which should support compliance discipline even without PDCC-specific incentive structures .
- Data gaps and trading signals: With no disclosed CCO equity awards or vesting schedules, there are no officer-related vesting overhangs to monitor. Absent individual ownership or Form 4 data in the proxy/registration materials reviewed, there are no insider-selling pressure indicators for the CCO specifically; monitor future filings for any Section 16 reports and changes in service provider relationships .