Catherine James Paglia
About Catherine James Paglia
Independent director of Columbia Seligman Premium Technology Growth Fund, Inc. (the Fund) since October 2009; current term 2023–2026; born 1952. Core credentials: former Morgan Stanley Managing Director (Investment Banking and Equity Research), former Managing Director/Partner at Interlaken Capital, and former CFO of two public companies; Director of Enterprise Asset Management, Inc. since 1998. She currently oversees 172 portfolios across the Columbia Funds Complex (as of 2025). She previously served as Chair of the Fund’s Board (January 2020 through 2022), with the Chair role now held by an independent director.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Morgan Stanley | Associate/Vice President Investment Banking; later Principal/Managing Director | 1976–1989 | Senior deal and capital markets experience cited in director qualifications |
| Interlaken Capital, Inc. | Managing Director and Partner | 1989–1997 | Private equity/asset management operating experience |
| Two public companies (not named) | Chief Financial Officer | Not disclosed | CFO experience cited among credentials |
| Columbia Seligman Premium Technology Growth Fund, Inc. | Chair of the Board | Jan 2020–Dec 2022 | Led Board prior to current Chair; governance leadership experience |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Enterprise Asset Management, Inc. (private real estate/asset manager) | Director | Since Sep 1998 | Ongoing board-level asset management oversight |
| Valmont Industries, Inc. (public; irrigation systems) | Director | Since 2012 | Public company board service and oversight |
| Carleton College | Trustee (Investment Committee) | Since 1987 | Endowment oversight/investment governance |
| Carnegie Endowment for International Peace | Trustee (Investment Committee) | Since 2009 | Endowment oversight/investment governance |
Board Governance
| Attribute | Detail |
|---|---|
| Independence | Classified as Independent Director; all standing committees comprised solely of Independent Directors |
| Current committee assignments | Board Governance; Compliance; Contracts; Investment Review |
| Board/committee attendance | Each incumbent Director attended at least 75% of Board and each Committee meetings in 2024 (and 2023) |
| Board structure and leadership | Independent Chair structure; Chair acts as point of contact; committees reconstituted effective Jan 1, 2024 |
| Committee meeting cadence (FY 2024) | Governance (6); Compliance (4); Contracts (5); Investment Review (4); Audit (6) |
| Portfolios overseen | 172 portfolios in the Columbia Funds Complex (2025) |
Fixed Compensation
| Component | 2023 | 2024 | Notes |
|---|---|---|---|
| Aggregate compensation from the Fund (STK) | $3,553 | $3,619 | Fund-level fees for director/committee service |
| Total compensation from Columbia Funds Complex | $466,000 | $426,000 | Complex-wide retainers/fees for overseeing 161–163 portfolios |
| Pension/retirement benefits as part of Fund expenses | $0 | $0 | No pension under Fund expenses |
Director fee schedule and structure (effective dates noted):
- Effective Jan 1, 2025 (complex-wide): annual retainer $275,000 for independent directors; committee Chairs +$25,000; subcommittee Chairs +$15,000; meeting fees: $6,000/day for in‑person Board; $3,000/day for in‑person committee (if not same day as Board); $3,000 per special virtual meeting; Board Chair receives $575,000 total cash (plus Closed-End Funds $10,000). Closed-End Funds (including STK): $10,000 annual fee to independent directors (ex Chair).
- Prior schedule (Jan 1, 2024): same retainer and chair adders; meeting fees $6,000 Board in‑person; $3,000 committee in‑person; no payment for special telephone meetings; Board Chair $550,000 (plus $10,000 from Closed-End Funds).
Deferred Compensation Plan:
- Independent directors may defer up to 100% of fees; deferrals notionally invested in eligible Columbia funds with payout based on selected fund performance; plan is unfunded for tax purposes; distributions via lump sum or installments.
Performance Compensation
| Performance-based element | Terms/metrics | FY 2024 Payout |
|---|---|---|
| Performance-based incentives (directors) | None disclosed; compensation consists of retainers and meeting fees; no performance metrics stated | Not applicable |
Other Directorships & Interlocks
| Company/Institution | Sector | Role | Potential interlock relevance |
|---|---|---|---|
| Valmont Industries, Inc. | Industrials (irrigation systems) | Director (since 2012) | No supplier/manager relationship to STK disclosed in proxy |
| Carleton College | Academic endowment | Trustee (Investment Committee) (since 1987) | Investment governance expertise; no conflict disclosed |
| Carnegie Endowment for International Peace | Non-profit endowment | Trustee (Investment Committee) (since 2009) | Investment governance expertise; no conflict disclosed |
Expertise & Qualifications
- Capital markets and corporate finance: Eight years at Morgan Stanley culminating as Managing Director; earlier Vice President/Principal roles; prior Dean Witter Investment Banking roles.
- Private equity/asset management: Managing Director/Partner at Interlaken Capital and long-serving Director at Enterprise Asset Management, Inc.
- Public company finance: Served as CFO of two public companies; public and non-profit board experience.
- Fund complex oversight: Oversees 172 Columbia portfolios, indicating breadth across strategies and governance processes.
Equity Ownership
| Holder | STK ownership (dollar range) | Aggregate ownership across Columbia Funds Complex | Notes |
|---|---|---|---|
| Catherine James Paglia | $1–$10,000 | Over $100,000 (includes deferred comp notionally invested in Columbia funds) | Footnote (a) clarifies inclusion of deferred comp value |
| Directors and officers as a group | <1% of Fund’s common stock | — | As of Dec 31, 2024 |
Governance Assessment
Key positives
- Tenured independent director with prior service as Board Chair (2020–2022) and extensive committee engagement (Board Governance, Compliance, Contracts, Investment Review), supporting board effectiveness and continuity.
- Attendance threshold met (≥75% in 2024 and 2023) and strong committee activity cadence, including 2024 meetings: Governance (6), Compliance (4), Contracts (5), Investment Review (4).
- Compensation framework is transparent and benchmarked against peer fund complexes; optional deferred compensation links pay to fund returns selected by directors (alignment with fund performance).
Monitoring items
- Direct STK share ownership is in the $1–$10,000 range; while typical for fund boards, it indicates limited direct STK exposure; alignment partially addressed via complex-wide fee deferrals into Columbia funds.
- Long tenure (since 2009) is a potential entrenchment consideration, though independence and committee-only Independent Director structure mitigate managerial conflicts.
No specific related-party transactions involving Ms. Paglia are disclosed in the reviewed proxy sections; committees are comprised solely of Independent Directors, and the Audit Committee is explicitly independent under NYSE standards.