Geoffrey Black
About Geoffrey Black
Geoffrey E. Black (Year of Birth: 1961) serves as Secretary of Thornburg Income Builder Opportunities Trust since 2024 and is Director, Fund Operations at Thornburg Investment Management, Inc. since May 2024 . He is an officer of the Trust (not a Trustee) and was named as one of the designated proxy holders for the March 10, 2025 annual meeting . The Trust disclosed a late Form 3 filing upon his appointment and that Mr. Black does not own any securities of the Trust . Education, broader biography, and performance metrics (TSR, revenue growth, EBITDA growth) are not disclosed in the Trust’s filings.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Thornburg Investment Management, Inc. | Director, Fund Operations | Since May 2024 | Not disclosed |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Not disclosed | — | — | — |
Fixed Compensation
| Component | FY Reference | Amount/Terms | Notes |
|---|---|---|---|
| Salary from Trust | Policy | $0; Trust pays no salaries/compensation to officers | Compensation is not paid by the Trust to its officers |
| Bonus from Trust | Policy | $0 | — |
| Equity/Options from Trust | Policy | $0 | — |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — |
Equity Ownership & Alignment
| Item | Value | Notes |
|---|---|---|
| Total beneficial ownership | 0 shares | “Mr. Black does not own any securities of the Trust.” |
| Ownership as % of shares outstanding | 0% | 32,081,883 Common Shares outstanding on record date; Mr. Black holds none |
| Vested vs unvested shares | Not applicable | No holdings disclosed |
| Options (exercisable/unexercisable) | Not applicable | No holdings disclosed |
| Shares pledged as collateral | None disclosed | — |
| Stock ownership guidelines | Not disclosed | — |
| Compliance status | Not applicable | No holdings disclosed |
Employment Terms
- Role and tenure: Secretary since 2024; officer (not Trustee) .
- Service terms: Officers manage day-to-day operations and “serve at the pleasure of the Trust’s Board” .
- Employment start date (exact) and contract term/expiration: Not disclosed .
- Severance and change-of-control provisions (single/double trigger, multiples, accelerated vesting): Not disclosed .
- Non-compete, non-solicit, garden leave, post-termination consulting: Not disclosed.
- Clawbacks, tax gross-ups, deferred compensation, pension/SERP, perquisites: Not disclosed.
Governance and Filings Compliance
- Section 16/30(h) compliance: One late Form 3 filed with respect to his appointment; otherwise filings timely for applicable persons; Mr. Black has no Trust securities ownership .
- Meeting proxy authority: Appointed as proxy holder alongside CFO for March 10, 2025 meeting .
- Trustee status: Not a Trustee; officers listed separately from Trustees .
Performance & Track Record
- Fund/stock performance during his tenure and executive achievements/controversies: Not disclosed in the proxy statements – –.
Compensation Structure Analysis
- Cash vs equity mix: For Trust-paid compensation, officers receive no cash or equity; compensation from the Trust is $0 .
- Incentive alignment: Absent Trust-paid incentives and with zero Trust ownership, direct pay-for-performance alignment via Trust mechanisms is minimal; compensation (if any) would be at the Adviser level, which is not disclosed in Trust filings .
- Repricing/modification of equity awards: Not disclosed.
Related Party Transactions
- Transactions involving Mr. Black or family: Not disclosed.
Risk Indicators & Red Flags
- Late Form 3 at appointment (procedural/administrative compliance flag) .
- Hedging/pledging: None disclosed .
- Legal proceedings, investigations, bankruptcies, option repricing, related-party transactions, say-on-pay: Not disclosed.
Compensation Peer Group and Say-on-Pay
- Compensation benchmarking peer group, percentile targets, say-on-pay vote history, shareholder proposals and feedback: Not disclosed.
Expertise & Qualifications
- Education, technical expertise, industry experience details, board qualifications, patents/publications/speaking: Not disclosed.
- Role-based credential: Director, Fund Operations at the Adviser since May 2024 .
Work History & Career Trajectory
- Prior employers/roles, progression, notable employers, career transitions, M&A experience: Not disclosed.
Compensation Committee Analysis
- Committee composition, consultants, conflicts, changes: Governance details for Trustees are disclosed broadly, but do not cover officer compensation oversight; the Trust pays no compensation to officers . Specific compensation committee practices tied to officer pay are not applicable/disclosed.
Investment Implications
- Alignment: With no Trust share ownership and no Trust-paid compensation, Mr. Black’s direct alignment with TBLD’s share price/NAV outcomes is limited in Trust disclosures; incentives, if any, may exist at the Adviser level but are not provided .
- Insider selling pressure: None—no shares owned, no vesting schedules or options disclosed .
- Retention risk: Officers “serve at the pleasure of the Board,” and no employment contract/severance/change-of-control terms are disclosed—suggesting standard fund-officer arrangements without bespoke retention economics .
- Trading signals: Absent ownership, Form 4 activity is not present; the late Form 3 is a minor compliance note rather than a directional signal .