George S. Batejan
About George S. Batejan
Independent director of STK since January 2018 with a current term running 2024–2027; born 1954. He brings 40+ years in financial services, including senior technology and operations roles at Janus Capital, Evergreen Investments, OppenheimerFunds, AIG, and an 18-year career at Chase Manhattan Bank; he has served on ethics, risk, and cybersecurity committees at a major investment manager. He oversees 172 funds in the Columbia Funds Complex and is classified as an Independent Director.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Janus Capital Group, Inc. | Executive Vice President, Global Head of Technology & Operations | 2010–2016 | Led technology and operations supporting mutual fund functions (fund accounting, treasury, tax, transfer agent, proxy, corporate actions, operational risk, business continuity, cybersecurity) |
| Evergreen Investments, Inc. | Senior Vice President & Chief Information Officer | Not specified | Technology leadership for investment operations |
| OppenheimerFunds, Inc. | Executive Vice President & Chief Information Officer | Not specified | Technology leadership for investment operations |
| American International Group | Head of International P&C Operations & Systems / Senior Vice President | Not specified | Operations and systems oversight |
| Chase Manhattan Bank, N.A. | Private Banking Vice President; Division Executive, Americas’ Service Delivery Group | 18-year veteran; progressed to VP/Division Executive | Service delivery leadership; progressed through private banking and service delivery roles |
| Major investment manager (not named) | Member of Ethics Committee, Global Risk Committee, Cyber Security Committee | Not specified | Risk, ethics, and cybersecurity oversight |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| NICSA (National Investment Company Service Association) | Chair; Executive, Nominating & Governance Committees | 2014–2016 | Chaired NICSA; served on Executive, Nominating, Governance Committees |
| Intech Investment Management | Director | 2011–2016 | Board service |
| Metro Denver Chamber of Commerce | Board Member | 2015–2016 | Board service |
| University of Colorado Business School | Advisory Board Member | 2015–2018 | Advisory function |
| Chase Bank International | Board Member | 1993–1994 | Board service |
Board Governance
- Independence: Listed among Independent Directors; all standing committees comprise solely Independent Directors.
- Committee assignments (current): Compliance Committee; Contracts Committee; Investment Review Committee. No chair roles disclosed.
- Tenure and term: Director since January 2018; current term 2024–2027; oversees 172 funds in the complex.
- Attendance: The Fund confirms each incumbent director attended at least 75% of Board and applicable committee meetings during 2024.
- Committee activity (FY 2024 meetings): Board Governance (6); Compliance (4); Contracts (5; excludes subcommittee meetings); Investment Review (4); Audit (6).
Fixed Compensation
- Compensation framework (effective Jan 1, 2025, complex-wide): Independent directors annual retainer $275,000; committee chairs +$25,000; subcommittee chairs +$15,000; in-person Board meetings $6,000/day; in-person committee meetings $3,000/day (if not same day as Board); special virtual meetings $3,000; independent directors also receive $10,000 annually from the two Closed-End Funds; Board Chair total annual cash $575,000 (plus $10,000 from Closed-End Funds and $3,000 per special virtual meeting).
| Metric | 2023 | 2024 |
|---|---|---|
| Aggregate Compensation From STK (cash) | $3,553 | $3,619 |
| Pension/Retirement Benefits Accrued as Fund Expenses | $0 | $0 |
| Total Compensation From Fund + Columbia Funds Complex | $469,000 | $438,000 |
| Deferred Amount (STK portion, elected) | $178 | $181 |
- Deferred Compensation Plan: Directors may elect to defer up to 100%; deferred amounts are treated as if invested in selected Columbia funds; distributions can be lump sum or over years; plan is unfunded for tax purposes.
Performance Compensation
| Feature | Description |
|---|---|
| Equity/Options for Directors | Not disclosed for independent directors; compensation is cash-based with optional deferral. |
| Performance linkage | Deferred compensation returns are tied to the performance of selected Columbia funds as if invested at deferral date. |
| Clawback | Not disclosed for directors in proxy; no clawback provisions noted. |
Other Directorships & Interlocks
| Company/Entity | Type | Role | Tenure |
|---|---|---|---|
| NICSA | Industry association | Chair | 2014–2016 |
| Intech Investment Management | Investment manager | Director | 2011–2016 |
| Metro Denver Chamber of Commerce | Non-profit/business org | Board Member | 2015–2016 |
| University of Colorado Business School | Academic | Advisory Board Member | 2015–2018 |
| Chase Bank International | Financial | Board Member | 1993–1994 |
No current public company directorships are disclosed for Batejan in the latest proxy; listed roles above are prior/external.
Expertise & Qualifications
- Technology and operations leadership across major asset managers (Janus, Evergreen, OppenheimerFunds), including fund accounting, treasury, tax, transfer agency, trading, and cybersecurity.
- Risk oversight experience via Ethics, Global Risk, and Cyber Security committees at a major investment manager.
- Broad governance exposure through NICSA chairmanship and multiple board/advisory posts.
Equity Ownership
| Category | STK Ownership (Dollar Range) | Aggregate Dollar Range Across Columbia Funds Complex | Notes |
|---|---|---|---|
| As of Dec 31, 2024 | $1–$10,000 | Over $100,000 | Aggregate includes value of deferred comp treated as if invested in Columbia funds. |
- Group ownership: Directors and officers as a group owned less than 1% of STK common stock as of Dec 31, 2024.
Governance Assessment
- Independence and committee coverage: Batejan is an Independent Director serving on Compliance, Contracts, and Investment Review—committees comprised solely of independent directors—supporting strong oversight of compliance, service-provider contracts, and investment management.
- Attendance: Met the minimum attendance standard (≥75% of Board and assigned committee meetings in 2024), indicating baseline engagement.
- Compensation alignment: While director pay is cash-based, the Deferred Compensation Plan ties any deferred amounts to fund performance, modestly aligning incentives; no pension benefits accrued as fund expenses.
- Ownership alignment: Holds STK in the $1–$10,000 range and aggregate Columbia complex exposure over $100,000 (including deferred comp), providing some “skin in the game” albeit not a large direct STK stake; group holds <1%.
- Potential conflicts and red flags: No related-party transactions or pledging disclosed for Batejan; no chair roles or outsized governance influence indicated; compensation structure and meeting fees are standard for complex size. (RED FLAGS: none observed in filings reviewed.)