Shane Quinlan
About Shane Quinlan
Shane K. Quinlan (Birth Year: 1994) is an Independent Director (Class III) of SRH Total Return Fund, Inc. (“the Fund”), serving since August 2, 2024, with a term expiring in 2027. He is currently a Senior Financial Analyst at Medline Industries LP (since May 2024) and previously held roles in portfolio management and financial advisory. He holds FINRA Series 7 and 66 licenses and a BBA in Finance (minor in Economics) from Loyola University Chicago (2016). The Board cites his broad finance experience and proficiency in financial technologies as rationale for selection.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Medline Industries LP | Senior Financial Analyst | Since May 2024 | Financial analyses and decision support for business planning |
| Gould Financial Group | Portfolio Manager | 2022–2024 | Managed portfolios across equities, ETFs, mutual funds, and bonds |
| Sequoia Wealth Management | Financial Planner | 2019–2021 | Financial planning |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | Financial Advisor | 2018–2019 | Financial advisory |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | The Fund’s proxy lists “Other Directorships Held by Director: None” for Quinlan |
Board Governance
- Independence: Listed as Independent Director; members of Audit and Nominating Committees (including Quinlan) are independent under NYSE standards.
- Committee assignments:
- Audit Committee: Member; committee comprised entirely of Independent Directors; Norgaard is the Audit Committee chair and designated “financial expert.” Audit Committee met 2 times in FY ended Nov 30, 2024.
- Nominating Committee: Member; comprised entirely of Independent Directors; met 2 times in FY ended Nov 30, 2024.
- QLCC: The Audit Committee also serves as the Qualified Legal Compliance Committee; QLCC did not independently meet in FY 2024.
- Attendance: “Each Director currently serving in such a capacity for the entire fiscal year attended at least 75%” of Board and applicable committee meetings. (Quinlan joined Aug 2, 2024; this attendance statement applies to full-year directors.)
- Board structure: Three standing committees (Audit, Nominating, QLCC); no Compensation Committee. Chairman of the Board is also the Principal Executive Officer and an Interested Director (President of the Sub-Adviser); Lead Independent Director is Steven K. Norgaard.
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Quarterly retainer (Independent Directors) | $10,000 per quarter | Cash fee |
| In-person Board meeting fee | $5,000 per meeting | Cash fee |
| Audit Committee meeting fee | $3,000 per meeting | Cash fee; additional $3,000 per meeting for Audit Committee chair (Norgaard) |
| Nominating Committee meeting fee | $1,000 per meeting | Cash fee |
| Telephonic Board meeting fee | $1,000 per meeting | Cash fee |
| Lead Independent Director fee | $3,125 per regular quarterly meeting | Applies to LID (Norgaard), not Quinlan |
| Pension/retirement benefits | None | Directors do not receive pension or retirement benefits from the Fund |
| Director | FY 2024 Aggregate Compensation | Service Notes |
|---|---|---|
| Shane K. Quinlan | $18,000 | Became a director effective Aug 2, 2024 |
Performance Compensation
- No equity-based or performance-based director compensation (e.g., RSUs/PSUs/options) is described; director compensation is disclosed as cash retainers and per-meeting fees.
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None (as disclosed by the Fund) |
| Lead Independent Director (Fund) | Steven K. Norgaard (context) |
| Compensation Committee | The Fund does not have a Compensation Committee (context) |
Expertise & Qualifications
- Finance-focused background across analysis, portfolio management, and planning; proficient with financial technologies.
- FINRA Series 7 and 66; Life, Health, and Long Term Care Insurance licenses.
- BBA in Finance (minor in Economics), Loyola University Chicago, 2016.
- Selected for Board service due to breadth of finance experience and technology proficiency.
Equity Ownership
| Holder | Beneficial Shares | % of Class | Dollar Range in Fund |
|---|---|---|---|
| Shane K. Quinlan | — | <1% | None |
- As of the record date, 96,441,500 shares were outstanding (basis for % of class).
- None of the Independent Directors (including Quinlan) or their immediate family members owned securities of the Adviser, Sub-Adviser, or their control affiliates (other than registered investment companies).
- Pledging/hedging policies or compliance status not disclosed in the proxy.
Governance Assessment
- Strengths:
- Independent Director serving on both Audit and Nominating Committees; committees composed entirely of independent directors; Audit Committee also functions as QLCC.
- Audit Committee oversight includes PCAOB-required communications and independence assessments; Audit Committee met Jan 23, 2025 regarding FY 2024 audit.
- Independent directors’ attendance threshold met for those serving the entire year; committee activity documented (Audit: 2; Nominating: 2).
- Potential concerns / RED FLAGS to monitor:
- Alignment: Quinlan reported no share ownership (“None” dollar range; zero beneficial ownership), and the program discloses only cash fees—no equity grants—limiting direct ownership alignment.
- Board structure: The Chair is an Interested Director (also the Fund’s Principal Executive Officer), which can heighten conflict risk; mitigated in part by independent committee structure and a Lead Independent Director.
- Concentrated ownership: Horejsi-related trusts and affiliates collectively control approximately 47.07% of shares, a factor that can influence governance dynamics and reduce minority investor leverage.
Net view: Quinlan brings contemporary finance and analytical skills and participates in key oversight committees, but currently exhibits low “skin in the game” (no disclosed equity). The independent committee structure and Lead Independent Director role help counterbalance the interested Chair, yet concentrated ownership remains a broader governance consideration.