Kelly A. Coyne
About Kelly A. Coyne
Kelly A. Coyne (year of birth: 1968) serves as an Assistant Secretary of PGIM funds and is Director, Investment Operations at Prudential Mutual Fund Services LLC since 2010, with fund officer tenure since September 2022 . Her roles span PGIM Retail Funds (Assistant Secretary since March 2015) and PGIM Alternatives Funds (Assistant Secretary since March 2022), reflecting long-standing operational leadership across Prudential/PGIM’s fund complexes . Filings do not attribute individual TSR, revenue growth, or EBITDA growth measures to Ms. Coyne; PGIM-managed funds indicate officers are compensated by the Manager and the funds do not maintain equity compensation plans, limiting disclosure of performance-linked pay elements .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Prudential Mutual Fund Services LLC | Director, Investment Operations | 2010–present | — |
| PGIM Retail Funds | Assistant Secretary | March 2015–present | — |
| PGIM Alternatives Funds | Assistant Secretary | March 2022–present | — |
| PGIM Private Credit Fund | Assistant Secretary | September 2022–present | — |
| PGIM Credit Income Fund | Assistant Secretary | September 2023–present | — |
| PGIM Private Real Estate Fund, Inc. | Assistant Secretary | March 2022–present | — |
External Roles
- No external public-company board roles or committee positions are disclosed for Ms. Coyne in PGIM’s proxy and annual report filings reviewed .
Fixed Compensation
- Officers (including Ms. Coyne) do not receive compensation from PGIM Investments-managed funds; under the Management Agreement the Manager pays all compensation and expenses of officers and fees/expenses of Interested Board Members .
- PGIM-managed funds state no equity compensation plans exist, implying no RSUs/PSUs/options at the fund level .
| Item | Disclosure | Notes |
|---|---|---|
| Base salary | Not disclosed by fund | Officers paid by Manager; fund does not disclose salaries |
| Target bonus % | Not disclosed by fund | No officer cash bonus details in fund filings |
| Actual bonus | Not disclosed by fund | — |
| Equity awards (RSUs/PSUs) | None at fund level | “We do not have any equity compensation plans” |
| Options | None at fund level | — |
| Perquisites | Not disclosed by fund | — |
| Pension/SERP | Not disclosed by fund | — |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| — | — | — | — | — | — |
- Fund filings provide no metric-based incentive framework for officers; compensation and expenses are paid by the Manager (Prudential), not the fund .
- No equity compensation plan exists at the fund level to tie awards to TSR or operating metrics .
Equity Ownership & Alignment
| Metric | FY 2023 | As of 6/30/2024 | As of 6/30/2025 |
|---|---|---|---|
| Beneficial Ownership (Shares) | — (no holdings reported for Coyne) | — (no holdings reported for Coyne) | — (no holdings reported for Coyne) |
- PGIM-managed funds disclose no equity compensation plans, limiting “skin-in-the-game” via fund equity awards .
- Fund ownership is dominated by Prudential affiliates (e.g., PICA 99.9% as of 2024; Pruco Life 89.41% as of 2025), emphasizing sponsor control rather than officer share ownership .
Employment Terms
| Term | Disclosure |
|---|---|
| Fund officer start date | Since September 2022 |
| Contract term length | — |
| Severance provisions | — |
| Change-of-control provisions | — |
| Non-compete / Non-solicit | — |
| Garden leave / consulting | — |
Notes: Filings indicate officers are employees of the Manager (Prudential) and are compensated by the Manager rather than the fund; employment contract/severance/change-of-control terms for individual officers (including Ms. Coyne) are not disclosed at the fund level .
Investment Implications
- Lack of disclosed equity awards and absence of fund-level equity compensation plan materially reduces direct insider selling pressure and diminishes pay-for-performance alignment via fund equity; trading signals tied to officer equity vesting/selling are minimal .
- Officer compensation is paid by Prudential (the Manager) and not by the fund; retention risk and incentive alignment are governed by Prudential’s internal policies/contracts, which are not disclosed in PGIM fund filings—limiting transparency for investors assessing individual officer incentives .
- No individual share ownership reported for Ms. Coyne across 2023–2025 filings further reduces “skin-in-the-game” alignment at the fund entity; sponsor affiliates (PICA/Pruco Life) control the majority of shares, anchoring governance and capital decisions at the sponsor level rather than via officer ownership .