Paul Kazarian
About Paul Kazarian
Paul Kazarian is Chief Executive Officer of Saba Capital Income & Opportunities Fund II and a Portfolio Manager at Saba Capital Management. He became CEO in November 2024 and is listed among the Fund’s Named Executive Officers; previously he served as a Trustee until resigning from the Board on July 20, 2024 . The proxy does not disclose education or prior employers; performance metrics such as TSR, revenue growth, or EBITDA growth for his tenure are not provided in this filing .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Saba Capital Management, L.P. | Portfolio Manager | Not disclosed in proxy | Not disclosed in proxy |
External Roles
No external directorships or roles for Paul Kazarian are disclosed in the Fund’s proxy filing .
Fixed Compensation
Officer compensation for the Fund’s executives (including the CEO) is paid by the Adviser, Saba Capital Management, not by the Fund; the proxy provides no base salary, bonus, or perquisite details for Fund officers. Independent Trustee compensation is disclosed separately; Paul received $0 as a Trustee in FY2024 and resigned from the Board on July 20, 2024 .
| Component | 2024 Disclosure | Notes |
|---|---|---|
| Base Salary (Fund) | Not paid by the Fund | Officers are compensated by Saba Capital or affiliates |
| Target Bonus % | Not disclosed | No officer bonus framework disclosed by the Fund |
| Actual Bonus Paid | Not disclosed | Not disclosed by the Fund |
| Perquisites | Not disclosed | Not disclosed by the Fund |
| Trustee Fees (if applicable) | $0 | Paul resigned as Trustee on 7/20/2024; table shows $0 for FY2024 |
Performance Compensation
The proxy does not disclose any short-term or long-term incentive plan metrics (e.g., revenue growth, EBITDA, TSR) for Fund officers; officer compensation is handled by the Adviser and not detailed here .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
Equity Ownership & Alignment
| Item | Data | Date/Source |
|---|---|---|
| Fund shares beneficially owned | None | As of March 31, 2025; Named Executive Officers table lists “None” for Paul |
| Ownership as % of shares outstanding | Not applicable | Fund had 28,255,264 shares outstanding as of record date (context) |
| Vested vs. unvested shares | Not applicable | No Fund share ownership disclosed |
| Options/RSUs/PSUs | Not disclosed | No officer equity awards disclosed by the Fund |
| Shares pledged as collateral | Not disclosed | No pledging disclosure for Paul in proxy |
| Ownership guidelines | Not disclosed | Not disclosed by the Fund |
| Insider trading/hedging policy | Code of Ethics governs personal trading; short-term trading of the Fund’s shares by covered persons is prohibited | Codes of Ethics section |
Employment Terms
| Term | Disclosure |
|---|---|
| Role and start date | Chief Executive Officer since November 2024 |
| Employment agreement term/expiration | Not disclosed by the Fund (officers are employed/compensated by the Adviser) |
| Severance provisions | Not disclosed by the Fund |
| Change-of-control provisions | Not disclosed by the Fund |
| Non-compete / Non-solicit | Not disclosed by the Fund |
| Clawback provisions | Not disclosed by the Fund; no officer-specific clawback terms in proxy |
| Say-on-pay / Compensation committee | The Board has no standing compensation committee; officer pay not set/paid by the Fund |
Additional Governance and Reporting Context
- Section 16(a) reporting: The Fund states that, based on its review and representations, Reporting Persons complied with applicable filing requirements for the fiscal year ended October 31, 2024 .
- 5%+ holders context: Boaz R. Weinstein (individually) and Saba Capital Management, L.P. are listed as beneficial owners of 11.62% and 11.23% of Fund shares, respectively, as of April 29, 2025 (context for adviser alignment and potential control dynamics) .
- Board structure: No standing compensation committee; Independent Trustees collectively consider Trustee and officer compensation matters for the Fund, but officer compensation is paid by the Adviser .
Investment Implications
- Alignment: As of March 31, 2025, Paul held no Fund shares, reducing direct “skin-in-the-game” linkage to Fund NAV/market price; however, the Adviser’s principal and the Adviser itself are significant shareholders, which can indirectly align management with shareholder outcomes .
- Incentive transparency: Compensation structure, performance metrics, vesting schedules, and severance/CIC protections for Paul are not disclosed by the Fund because officers are paid by the Adviser; this opacity limits assessment of pay-for-performance and retention risk from public filings .
- Trading pressure: With no disclosed Fund share ownership by Paul, near-term insider selling pressure from the CEO appears limited; the Code of Ethics also prohibits short-term trading by covered persons, reducing churn risk signals from insiders .
- Governance checks: The absence of a standing compensation committee and the Adviser-paid officer structure place greater emphasis on Board oversight and Adviser governance; investors may focus due diligence on Adviser-level agreements and incentives not contained in Fund filings .