Stuart Parker
About Stuart Parker
Stuart S. Parker (born 1962) is an Interested Board Member and President of PGIM Short Duration High Yield Opportunities Fund (SDHY) since fund inception; he serves concurrently as President, Chief Executive Officer, and Officer in Charge of PGIM Investments LLC (since January 2012) and is President and Principal Executive Officer of PGIM Alternatives and PGIM Retail Funds; previously Executive Vice President of Jennison Associates LLC and Head of Retail Distribution at PGIM Investments (2005–2011), and formerly Chief Operating Officer of PGIM Investments (2012–2024) . He oversees 104 portfolios across the PGIM fund complex and sits on the Investment Company Institute’s Board of Governors (since May 2012) . Fund-level TSR, revenue, and EBITDA growth metrics tied specifically to Parker are not disclosed in the SDHY proxy .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| PGIM Investments LLC | President, CEO, Officer in Charge | 2012–present | Leads PGIM Investments and affiliates servicing SDHY and broader fund complex; overall distribution/management leadership . |
| PGIM Investments LLC | Chief Operating Officer | 2012–2024 (former) | Operational leadership across PGIM Investments; transition to CEO responsibilities retained post-2012 . |
| Jennison Associates LLC / PGIM Investments | EVP; Head of Retail Distribution | 2005–2011 | Grew retail distribution footprint; senior executive experience informs fund governance and oversight . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Investment Company Institute (ICI) | Board of Governors (member) | Since May 2012 | Industry policymaking and governance; information flow on asset management trends and regulation . |
| Public company boards | None | N/A | No external public company interlocks, reducing conflict exposure . |
Fixed Compensation
- SDHY pays Independent Board Members only; the Manager (PGIM Investments LLC) pays all compensation and expenses of Fund officers and Interested Board Members (including Parker). Interested Board Members do not receive compensation from PGIM Investments–managed funds; thus Parker receives no cash retainer or meeting fees from SDHY .
Performance Compensation
- The SDHY proxy does not disclose Parker’s bonus, stock/option awards, performance metrics (e.g., TSR percentile, revenue/EBITDA growth), or vesting schedules. Compensation is paid by PGIM Investments (affiliated manager) and not by the Fund; therefore, Fund-level performance compensation details for Parker are not provided in SDHY’s proxy .
Equity Ownership & Alignment
| Category | Detail |
|---|---|
| Beneficial ownership in SDHY | None . |
| Aggregate dollar range of holdings in PGIM-registered investment companies overseen | Over $100,000 . |
| Shares outstanding (for context) | 24,673,056 common shares as of record date (Feb 27, 2025) . |
| Vested vs. unvested shares; options | Not disclosed in the SDHY proxy . |
| Pledging/hedging policy | Not disclosed in the SDHY proxy . |
| Stock ownership guidelines; compliance | Not disclosed in the SDHY proxy . |
Employment Terms
- Employment agreement terms (base salary, target bonus, severance multiples, change-of-control triggers, single vs. double trigger, accelerated vesting, clawbacks, tax gross-ups, non-compete/non-solicit, deferred comp, pension/SERP, perquisites) for Parker are not disclosed in SDHY’s proxy because the Manager pays all compensation and expenses of Fund officers and Interested Board Members . No SDHY-specific change-of-control or severance economics for Parker are disclosed in the proxy .
Board Governance
| Attribute | Detail |
|---|---|
| Board role | Class I Trustee nominee; Interested Board Member & President . |
| Board independence status | Interested (affiliated with PGIM Investments) . |
| Years of service on SDHY Board | Since October 2020 (all Board Members joined then) . |
| Committee memberships | Audit, Nominating & Governance, Dryden Investment, and Compliance committees are comprised of Independent Board Members; Parker is not listed as a member . |
| Independent Chair | Keith F. Hartstein (Independent Chair) . |
| Board meeting attendance | FY2024: Board met 8 times; each Board Member attended all Board and committee meetings of which they were a member . FY2023: Board met 7 times; each Board Member attended all such meetings . |
| Executive sessions | Committee charters available; frequency noted via committee meetings; no separate executive session frequency disclosed in proxy . |
Director Compensation
| Component | Amount/Status |
|---|---|
| Fund-level cash retainer (SDHY) | Not paid to Interested Board Members (Manager pays their fees/expenses); Parker receives no SDHY retainer . |
| Committee fees (SDHY) | Independent-only; Parker does not receive committee fees . |
| Equity grants (SDHY) | None disclosed for directors; Independent directors are cash-paid; Interested receive none from Fund . |
| Ownership guidelines (director) | Not disclosed for SDHY directors in proxy . |
Performance & Track Record
- Background/credentials: Senior executive across PGIM Investments; prior EVP at Jennison; oversees 104 portfolios; ICI Board of Governors member since 2012 .
- Attendance/engagement: 100% attendance record in FY2024 and FY2023 as per Board-wide disclosure .
- Fund performance linkage: Proxy does not tie Parker’s compensation to specific Fund TSR or financial metrics; compensation is paid by Manager and not itemized in the Fund proxy .
Compensation Peer Group & Say-on-Pay
- Not applicable/undisclosed for SDHY: The proxy does not present an executive compensation peer group, target percentile, or say-on-pay results; SDHY pays Independent Board Members fixed fees and does not disclose executive compensation for Interested Board Members .
Risk Indicators & Red Flags
- Section 16(a) compliance: The Fund reports all filing requirements were met for the fiscal year ended July 31, 2024 and FY2023, indicating no delinquent filings by Board Members/officers .
- Hedging/pledging, gross-ups, option repricing, related party transactions: Not disclosed in SDHY proxy; committees are Independent-led, with an Independent Chair and independent legal counsel engaged by Independent Board Members, which mitigates governance risks associated with interested trustees .
Dual-Role Implications (CEO-level affiliate + Board)
- Parker is both President of SDHY and an Interested Board Member due to his executive role at PGIM Investments (the Manager), creating inherent affiliation and independence considerations; however, SDHY maintains an Independent Chair and four Independent committees (Audit, Nominating & Governance, Dryden Investment, Compliance) to oversee the Manager and mitigate conflicts .
- SDHY does not compensate Parker directly; his compensation is borne by the Manager, reducing Fund-level pay-for-performance transparency and shifting analysis to Prudential/PGIM governance frameworks rather than SDHY disclosures .
Investment Implications
- Alignment: Parker holds no SDHY shares, and Fund-level compensation is not paid to him; this limits direct SDHY equity alignment but reflects standard practice for closed-end funds managed by affiliates. Oversight safeguards include an Independent Chair and committee structure with independent membership .
- Retention/pressure: Without disclosed bonus targets, vesting schedules, or ownership guidelines at the Fund level, insider selling pressure and pay-for-performance levers cannot be assessed from SDHY documents; monitoring Prudential/PGIM public disclosures would be required for further analysis .
- Trading signals: Governance structure shows robust independent oversight (committee charters, 100% attendance, independent chair), but lack of Fund-level disclosure on Parker’s compensation metrics reduces capacity to link management incentives to SDHY-specific outcomes; investors should focus on portfolio management performance, committee oversight outputs (e.g., Audit Committee reports), and external manager communications to infer alignment and execution quality .