Russ Shupak
Treasurer and Principal Accounting Officer at PGIM Short Duration High Yield Opportunities Fund
Executive
About Russ Shupak
Russ Shupak (born 1973) is Treasurer and Principal Accounting Officer of PGIM Short Duration High Yield Opportunities Fund (SDHY), serving as a Fund officer since inception; he is a Vice President within PGIM Investments Fund Administration (since 2017), previously Director (2013–2017) . His responsibilities span treasury, accounting, and financial reporting across PGIM Investments-managed registered funds; prior roles include Assistant Treasurer positions across PGIM funds and trusts, reflecting deep fund administration and controls expertise . SDHY does not disclose executive-specific TSR or fund performance metrics tied to officer compensation in its proxy materials .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| PGIM Investments Fund Administration | Vice President | Since 2017 | Senior oversight of fund administration, enabling robust treasury and accounting controls for PGIM mutual funds, ETFs, closed-end and annuity funds . |
| PGIM Investments Fund Administration | Director | 2013–2017 | Led fund administration initiatives and operational process improvements supporting scalable fund operations . |
| PGIM Retail Funds (PGIM mutual funds, ETFs, closed-end funds) | Treasurer & Principal Accounting Officer | Since March 2023 | Principal financial oversight of PGIM Retail Funds; ensures accuracy of financial reporting and compliance with auditing standards . |
| PGIM Credit Income Fund | Treasurer & Principal Accounting Officer | Since September 2023 | Establishes and oversees financial reporting frameworks for a credit fund, coordinating with auditors and board . |
| PGIM Private Real Estate Fund, Inc. | Treasurer & Principal Accounting Officer; Assistant Treasurer | Treasurer/PAO since July 2022; Assistant Treasurer Mar–Jul 2022 | Built and transitioned treasury/accounting processes during fund growth; maintained reporting integrity . |
| PGIM Rock ETF Trust | Assistant Treasurer | Since September 2023 | Supports ETF treasury functions and principal accounting processes . |
| PGIM Private Credit Fund | Assistant Treasurer | Since September 2022 | Oversees assistant treasurer duties across private credit vehicles . |
| Prudential Annuities Funds (Advanced Series Trust, The Prudential Series Fund, Prudential’s Gibraltar Fund) | Assistant Treasurer | Since October 2019 | Supports treasury and accounting functions for annuity-related funds within Prudential . |
External Roles
No external public-company directorships or roles for Shupak are disclosed in SDHY’s proxy statements; officer biographies list only roles within PGIM/Prudential complex .
Fixed Compensation
- Officers (including the Treasurer/PAO) are compensated by PGIM Investments (the Manager) under the Management Agreement; the Fund does not pay officer compensation and does not disclose officer base salary, bonus, equity awards, or perquisites in its proxy .
- Independent Board Members receive Fund-level compensation; Interested Board Members and officers do not receive compensation from PGIM Investments-managed funds and are therefore excluded from compensation tables .
Performance Compensation
- No Fund-level disclosure of performance metrics (e.g., revenue growth, EBITDA, TSR, ESG goals) tied to officer compensation; as PGIM employees, officer incentive structures are determined by the Manager and not reported in SDHY proxy materials .
- No disclosure of RSUs/PSUs/options granted by SDHY to officers; closed-end fund officers are not recipients of Fund equity compensation under SDHY’s governance .
Equity Ownership & Alignment
- Officer share ownership in SDHY is not disclosed in the proxy; share ownership tables cover Board Members only (Independent and Interested), and report “None” for SDHY holdings across Board Members as of the stated dates .
- Section 16(a) compliance: the Fund reports all required ownership/change-in-ownership filings met during the fiscal year ended July 31, 2024 (and 2023), with no delinquent reports, implying no recorded insider trading activity for Fund insiders in those periods .
- No disclosure of officer pledging/hedging; proxy materials do not present pledging data for officers .
- 5% beneficial owners disclosed separately (e.g., 1607 Capital Partners at 7.92% as of Dec. 31, 2024), not related to officer ownership .
Employment Terms
| Term | Disclosure | Notes |
|---|---|---|
| Fund officer role | Treasurer & Principal Accounting Officer; Fund officer since inception | Officer service “Since Fund Inception”; role elevated from Assistant Treasurer (2024) to Treasurer/PAO (2025) . |
| Contract term/expiration | Not disclosed in proxy | Officers are PGIM employees; Fund does not disclose individual employment contracts in proxy . |
| Severance/change-of-control | Not disclosed in proxy | No Fund-level severance or CoC economics for officers described; compensation handled by Manager . |
| Non-compete/non-solicit/garden leave | Not disclosed in proxy | No related employment terms described for Fund officers . |
| Term limits | No set limit on number of officer terms disclosed; Board has retirement policy (age 75) for Board Members only | Officer term/retirement policy not specified; Board retirement policy applies to Trustees . |
Board Governance (context)
- Standing committees: Audit, Nominating & Governance, Dryden Investment, Compliance; all chaired and composed by Independent trustees, with meeting frequency disclosed (Audit: 4 meetings in FY2024; others 3–4) .
- Independent Chair; Board met eight times in FY2024 with full attendance; independent counsel engaged; leadership/committee structure deemed appropriate .
Investment Implications
- Alignment: As a PGIM employee, Shupak’s compensation and incentives are set by the Manager, not by SDHY; there is no Fund-level equity or cash incentive disclosure for officers, limiting direct pay-for-performance alignment signals relative to SDHY outcomes .
- Insider pressure: Absence of officer ownership disclosure and confirmation of timely Section 16 filings imply low observable insider selling pressure signals at the Fund level; trading signals from officer activity are therefore minimal in SDHY’s proxies .
- Retention risk: Tenured fund administration executive (Vice President since 2017; officer since Fund inception) across multiple PGIM vehicles suggests strong institutional continuity; no disclosed severance or CoC entitlements at Fund level reduces shareholder-funded retention risk, but underlying PGIM employment terms are not visible to SDHY investors .
- Governance quality: Independent committee oversight and regular meetings, plus clear auditor independence and fee disclosures, support operational rigor in financial reporting—relevant given Shupak’s PAO remit .