Graham Cole
About Graham Cole
Graham Cole (born 1984) serves as Vice President and Assistant Treasurer of Putnam Premier Income Trust (PPT) and has held this officer role since 2024; his principal occupation over the past five years is Director, Global Fund Tax at Franklin Templeton, and his officer address on file is 5000 Yonge St, Toronto, ON, Canada M2N0A7 . Officers of the fund are employees of Franklin Advisers or its affiliates and “benefit indirectly” from management and servicing fees; officer terms are indefinite, serving until resignation, retirement, death, or removal . As context for fund scale, PPT reported net assets of $360,158,654.72 as of December 31, 2024 and 95,567,536.775 common shares outstanding as of February 6, 2025 .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Franklin Templeton | Director, Global Fund Tax | Past 5 years (as disclosed) | Oversight of fund tax matters within Franklin Templeton (per principal occupation disclosure) |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Franklin Templeton | Director, Global Fund Tax | Past 5 years (as disclosed) | Employer of fund officers; officers are employees of Franklin Advisers or affiliates |
Fixed Compensation
- Officers (including Cole) are employees of Franklin Advisers or its affiliates; compensation is not paid directly by the fund and thus base salary, bonus, or equity pay for officers are not disclosed in PPT’s proxy materials .
- Trustee compensation (not applicable to Cole, who is an officer) is disclosed separately; interested Trustees receive no fund remuneration, and independent Trustees are paid retainers and meeting fees (see the trustee compensation tables), underscoring that officer pay details are outside the fund’s proxy scope .
Performance Compensation
- PPT does not disclose officer performance metrics, bonus targets, RSU/PSU awards, option grants, vesting schedules, or clawbacks for fund officers; officers are compensated by Franklin Advisers or affiliates, not by the fund .
- The Compensation Committee described in the proxy pertains to Independent Trustee compensation for service on the Board and its committees, not to fund officers .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Section 16(a) compliance | The fund states all applicable officers and Trustees complied with Section 16(a) filing requirements in the most recent fiscal year (review of filed reports and representations) . |
| Examples of officer Form 3s | Multiple fund officers filed Form 3s on April 29–30, 2025 indicating “No securities are beneficially owned” (e.g., Berarducci – Treasurer/PFO; De Oliveira – Secretary/CLO; Mandia – SVP; Jensen – CCO; Kelly – SVP; Sale/Kumar/Agdern – Directors) . |
| Graham Cole holdings | PPT’s document catalog reviewed does not include a Form 3 specifically naming Graham Cole; in absence of a filing, his beneficial holdings are not disclosed in available materials, while Section 16(a) compliance is affirmed at the fund level . |
| Ownership guidelines & pledging | No officer stock ownership guidelines or pledging/hedging disclosures are provided for fund officers in PPT’s proxy . |
Employment Terms
| Term | Detail |
|---|---|
| Role and start | Vice President and Assistant Treasurer; service with Putnam funds since 2024 . |
| Employer | Employee of Franklin Advisers or an affiliate (officers are employees of Franklin Advisers/affiliates) . |
| Term length | Indefinite term; serves until resignation, retirement, death, or removal . |
| Address on file | 5000 Yonge St, Toronto, ON, Canada M2N0A7 (Cole) . |
| Board oversight context | If elected slate takes effect, the Board (Independent Trustees) will operate Audit, Nominating, Compensation, and Pricing & Valuation Committees and oversee financial statements, NAV/market price relationship, fees/expenses, valuation processes, and compliance; committees comprise Independent Trustees . |
Investment Implications
- Compensation alignment and selling pressure: Officer pay is set by Franklin Advisers, with no fund-level disclosure of Cole’s compensation or equity awards; several contemporaneous officer Form 3s report zero beneficial ownership, suggesting limited direct insider selling pressure in PPT common shares among the officer cohort, though Cole’s specific holdings are not disclosed in available filings .
- Retention and governance: Cole’s indefinite officer term and Franklin employment indicate continuity; Board oversight (Independent Trustees with standing committees) focuses on fund operations, valuation, compliance, and fee oversight rather than officer compensation, reducing executive-specific retention or change‑of‑control risks at the fund level .
- Trading signals: With officer ownership commonly reported as none in recent filings and no evidence of equity incentive awards or pledging, executive‑driven trading or selling signals tied to Cole are minimal in disclosed materials; portfolio performance, discount to NAV, and distribution policy remain the primary levers for PPT rather than officer incentives .