Jeanne M. Kelly
About Jeanne M. Kelly
Jeanne M. Kelly is Senior Vice President of LMP Capital and Income Fund Inc. (SCD), serving in that officer role since 2009; her birth year is 1951 . She is U.S. Fund Board Team Manager at Franklin Templeton (since 2020), Senior Vice President of the Fund’s investment manager (FTFA/Franklin Templeton Fund Adviser, LLC) since 2006, and President & CEO of Legg Mason Asset Services, LLC (LMAS) and Legg Mason Fund Asset Management, Inc. (LMFAM) since 2015; previously she was Managing Director at Legg Mason & Co. from 2005 to 2020 and Senior Vice President at LMFAM from 2013 to 2015 . Officers of the Fund receive no compensation from the Fund (compensation is not reported at the Fund level), limiting disclosure on any pay-for-performance metrics tied to Fund TSR or operating results .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Legg Mason & Co. | Managing Director | 2005–2020 | Senior leadership at the adviser/affiliate |
| Legg Mason Fund Asset Management, Inc. (LMFAM) | Senior Vice President | 2013–2015 | Senior leadership within fund services affiliate |
| LM Asset Services, LLC (LMAS) & LMFAM | President & CEO | Since 2015 | Executive leadership of affiliate services entities |
| SCD (LMP Capital and Income Fund Inc.) | Senior Vice President | Since 2009 | Fund officer responsibilities |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Franklin Templeton | U.S. Fund Board Team Manager | Since 2020 | Oversight/coordination with U.S. fund boards |
| Franklin Templeton Fund Adviser, LLC (FTFA, the Manager) | Senior Vice President | Since 2006 | Senior role at the Fund’s investment manager |
| LM Asset Services, LLC (LMAS) | President & CEO | Since 2015 | Executive leadership within affiliate |
| Legg Mason Fund Asset Management, Inc. (LMFAM) | President & CEO | Since 2015 | Executive leadership within affiliate |
Fixed Compensation
Officers of the Fund do not receive compensation from the Fund; no base salary, cash bonus, or director-style retainers are paid at the Fund level. Compensation (if any) would be paid by Franklin Templeton/affiliates and is not disclosed in SCD’s proxy or registration filings.
| Component | Amount/Policy | Source |
|---|---|---|
| Base Salary | Not disclosed by the Fund; officers receive no Fund compensation | |
| Target Bonus % | Not disclosed by the Fund | |
| Actual Bonus Paid | Not disclosed by the Fund | |
| Pension/SERP | Not disclosed by the Fund | |
| Perquisites | Not disclosed by the Fund |
Officers may be reimbursed by the Fund for reasonable out-of-pocket travel expenses for attending Board meetings .
Performance Compensation
No officer performance compensation is disclosed at the Fund level; therefore no metrics, weightings, targets, actuals, payouts, or vesting schedules are reported for Jeanne M. Kelly.
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for Fund officers | — | — | — | — | — |
| Policy note | Officers receive no compensation from the Fund | — | — | — |
Equity Ownership & Alignment
Individual officer holdings are not itemized; disclosures state only that directors and officers as a group owned less than 1% of outstanding shares at multiple year-ends.
| Date (as of) | Directors & Officers Group Ownership (% of shares outstanding) | Source |
|---|---|---|
| Jan 23, 2017 | <1% | |
| Jan 22, 2016 | <1% | |
| Feb 20, 2019 | <1% | |
| Feb 8, 2021 | <1% | |
| Feb 8, 2022 | <1% | |
| Feb 7, 2023 | <1% | |
| Feb 7, 2024 | <1% |
- Officers’ individual beneficial ownership, vested/unvested breakdown, options, and pledged shares are not disclosed in Fund filings .
Employment Terms
- Officers are elected each year by the Board and hold office until their successors are duly elected and qualified .
- Officers receive no compensation from the Fund; they may be reimbursed for reasonable out-of-pocket travel expenses for attending Board meetings .
- No employment contract, severance, or change-of-control provisions are disclosed at the Fund level for officers .
Investment Implications
- Compensation alignment: With no Fund-level compensation for officers and no disclosed performance pay metrics, there is limited visibility into direct pay-for-performance alignment with Fund TSR/NAV outcomes at the officer level . Equity alignment appears limited, as directors and officers collectively own <1% of shares outstanding (minimal skin-in-the-game), and individual officer ownership detail is not provided .
- Insider selling/vesting pressure: No officer award vesting schedules or Form 4 trading activity are disclosed in Fund filings; thus, we see no Fund-documented vest-related selling pressure signals for Jeanne M. Kelly .
- Retention/contract risk: Officers are elected annually and serve until successors are elected; there are no disclosed severance or change-of-control economics at the Fund level—suggesting standard at-will-type governance with limited contractual retention features visible to Fund investors .
- Governance context: Her long tenure and senior roles across Franklin Templeton affiliates and fund services (LMAS/LMFAM) indicate deep institutional knowledge and continuity in Fund administration; however, from an investor signal standpoint, the absence of disclosed officer pay metrics and holdings constrains analysis of incentives tied to Fund performance .