Marc A. De Oliveira
About Marc A. De Oliveira
Marc A. De Oliveira serves as Secretary and Chief Legal Officer of LMP Capital and Income Fund Inc. (SCD) and has held the role since 2023; he is also Associate General Counsel at Franklin Templeton since 2020 and previously was Managing Director and Associate General Counsel at Legg Mason & Co. from 2005–2020 . His birth year is 1971 . Executive officers at SCD are appointed annually by the Board and receive no compensation from the Fund (only reimbursement for reasonable out-of-pocket travel expenses to attend Board meetings) . SCD officers and directors as a group beneficially owned less than 1% of outstanding shares at the 2025 record date .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Franklin Templeton | Associate General Counsel | Since 2020 | Legal counsel across fund complex; Secretary and Chief Legal Officer of certain funds associated with Legg Mason & Co. or its affiliates |
| Legg Mason & Co. | Managing Director and Associate General Counsel | 2005–2020 | Senior legal leadership supporting registered funds and affiliates |
| SCD (Fund) | Secretary and Chief Legal Officer | Since 2023 | Fund officer responsible for legal oversight; appointed annually by the Board |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Not disclosed in SCD filings | — | — | SCD’s 2025 and 2024 proxy officer biographies list Marc’s principal occupations without external directorships |
Fixed Compensation
| Component | Amount/Terms | Notes |
|---|---|---|
| Base Salary | Not paid by SCD | Officers receive no compensation from the Fund |
| Target Bonus % | Not paid by SCD | Officers receive no compensation from the Fund |
| Actual Bonus Paid | Not paid by SCD | Officers receive no compensation from the Fund |
| Perquisites | Reimbursement only | Officers may be reimbursed for reasonable out-of-pocket travel expenses to attend Board meetings |
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| None paid by SCD | — | — | — | — | — | — |
| Notes | Officers receive no compensation from the Fund; any employer-level (Franklin Templeton) compensation is not disclosed in SCD filings |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership (officers/directors as group) | Less than 1% of outstanding common shares as of Feb 7, 2025 |
| Individual officer holdings | Not disclosed in SCD proxies; “dollar range” ownership tables are provided for Directors, not officers |
| Vested vs. unvested breakdown | Not disclosed in SCD filings |
| Options (exercisable/unexercisable; ITM value) | Not disclosed in SCD filings |
| Shares pledged as collateral | Not disclosed in SCD filings |
| Stock ownership guidelines | Not disclosed for officers in SCD filings |
| Compliance status with ownership guidelines | Not disclosed in SCD filings |
Employment Terms
| Item | Detail |
|---|---|
| Employment start date at SCD | Since 2023 (Secretary and Chief Legal Officer) |
| Years in current role | Not disclosed (Officer biographies provide “since” dates) |
| Appointment/term | Executive officers are chosen each year at a regular Board meeting and hold office until successors are duly elected and qualified |
| Severance provisions | Not disclosed in SCD filings |
| Change-of-control (single/double trigger; multiples; acceleration) | Not disclosed in SCD filings |
| Non-compete/non-solicit | Not disclosed in SCD filings |
| Garden leave/post-termination consulting | Not disclosed in SCD filings |
| Clawback provisions | Not disclosed in SCD filings |
| Section 16 reporting status | Fund indicates required Section 16(a)/30(h) filings were met for the FY ended Nov 30, 2024 |
Additional Context Relevant to Governance and Trading Signals
- Officer roster and titles in recent shareholder reports include Marc A. De Oliveira as Secretary and Chief Legal Officer .
- SCD’s semi-annual report reiterates the Fund’s managed distribution policy; Board-authorized monthly distribution at a fixed rate of $0.1200 per share, subject to adjustment, with potential components including income, capital gains and/or return of capital .
- Recent registration filing lists Marc A. De Oliveira, Esq. among legal contacts for copies, consistent with his role in fund legal matters .
Investment Implications
- Pay-for-performance alignment at the fund level is minimal for officers: SCD pays no officer compensation, so there are no Fund-linked cash or equity incentives disclosed for Marc; any incentive alignment (metrics, vesting) resides at the Franklin Templeton employer level and is not available in SCD filings .
- Skin-in-the-game appears limited at the entity level: officers and directors collectively own less than 1% of outstanding shares, and no individual officer ownership details are provided—reducing direct equity alignment signals from Marc within SCD .
- Retention/contractual economics are low-risk from the Fund’s perspective: officers are appointed annually and no severance or change-of-control terms are disclosed at SCD, suggesting limited Fund-level financial obligations tied to officer departures; monitor employer-level terms separately if relevant .
- Trading signals from insider activity are currently not available in SCD filings for Marc (no Form 4 data in these documents); given Section 16 compliance was met for FY2024, ongoing monitoring of EDGAR insider filings remains prudent for detecting selling pressure or hedging/pledging behaviors .