Molly Fisher
About Molly Fisher
Molly Fisher is Chief Compliance Officer (CCO) of Thornburg Income Builder Opportunities Trust (TBLD), appointed in 2024; she previously served as Deputy CCO at Thornburg Investment Management in 2023 and Compliance Officer from 2014–2023 . Year of birth: 1979 . TBLD is a diversified, closed-end management investment company; the Trust’s documents do not disclose executive performance metrics like TSR, revenue growth or EBITDA growth for officers, and there is no officer-specific performance framework reported in the proxy or semiannual report .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Thornburg Income Builder Opportunities Trust (TBLD) | Chief Compliance Officer | Since 2024 | Establishes and maintains the Trust’s compliance oversight; the Trust also pays a portion of the CCO’s compensation, recorded in Trustee and officer fees . |
| Thornburg Investment Management, Inc. | Deputy Chief Compliance Officer | 2023 | Senior responsibilities in firm-level compliance supporting registered funds and adviser operations . |
| Thornburg Investment Management, Inc. | Compliance Officer | 2014–2023 | Core compliance program execution for the adviser and funds complex . |
External Roles
No external directorships or outside roles for Molly Fisher are disclosed in the Trust’s 2025 definitive proxy; the officer biography lists only her Thornburg roles .
Fixed Compensation
The Trust states it pays no salaries or compensation to any of its interested trustees or its officers in the proxy disclosure; however, the semiannual report clarifies the Trust pays a portion of the Chief Compliance Officer’s compensation, recorded as Trustee and officer fees in the Statement of Operations .
| Compensation Element | Amount | Notes |
|---|---|---|
| Base salary | Not disclosed | Proxy notes “no salaries or compensation” to officers; semiannual report indicates Trust pays a portion of CCO compensation but does not quantify or break down salary/bonus . |
| Target/actual bonus | Not disclosed | No officer bonus disclosures in proxy or semiannual report . |
| Other cash retainers | Not disclosed | Not applicable to officers; independent trustees receive retainers, but officer cash detail for CCO is not itemized . |
Performance Compensation
No performance-based compensation framework for officers (e.g., PSUs, RSUs tied to revenue/EBITDA/TSR, ESG goals) is disclosed in the proxy or semiannual report; vesting schedules and equity award details for officers are absent .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Officer/trustee aggregate direct investments | 2.73% of the Trust’s shares directly held by Trustees and officers as of the six months ended March 31, 2025 . |
| Individual ownership for Molly Fisher | Not disclosed in proxy or semiannual report . |
| Shares pledged as collateral | No pledging disclosures for officers; none reported for Trustees in the proxy ownership table; officer-specific pledging not provided . |
| Stock ownership guidelines for officers | Not disclosed; the proxy presents trustee retainers and trustee ownership ranges, without officer guidelines . |
| Section 16/30(h) compliance | The Trust reports required beneficial ownership filings were met during the last fiscal year, noting one late Form 3 for another officer (Geoffrey E. Black); no exceptions noted for Molly Fisher . |
Employment Terms
| Term | Disclosure |
|---|---|
| Employment start in current role | 2024 (Chief Compliance Officer) . |
| Contract term/expiration | Not disclosed . |
| Severance provisions | Not disclosed . |
| Change-of-control | Not disclosed . |
| Clawbacks/tax gross-ups | Not disclosed . |
| Non-compete / non-solicit / garden leave | Not disclosed . |
| Post-termination consulting | Not disclosed . |
Investment Implications
- Compensation alignment: As a CCO of a closed-end fund, Molly Fisher’s pay is not broken out into salary/bonus/equity components in shareholder documents; the Trust indicates no officer compensation in the proxy while the semiannual report records a portion of CCO compensation paid by the Trust, implying cost-allocation rather than incentive equity—reducing conventional pay-for-performance signaling (e.g., TSR/EBITDA gates) .
- Insider selling pressure: There are no disclosures of officer equity awards, vesting schedules, or Form 4 trading activity for Molly Fisher in the proxy or semiannual report, limiting insights into potential selling pressure; aggregate officer/trustee direct holdings are modest at 2.73% .
- Ownership alignment: Individual officer ownership and pledging data are not provided; trustees show modest dollar-range ownership and no adviser/underwriter holdings, but officer-level alignment details for Molly Fisher remain undisclosed .
- Retention/contract economics: No employment agreement, severance, change-of-control, clawback, or tax gross-up terms are disclosed for the CCO—reducing visibility into retention risk or contingent payout obligations .
- Governance context: The Trust is a diversified, closed-end management investment company with independent trustee oversight via Audit and Nominating/Governance committees; compliance oversight is explicitly among Audit Committee responsibilities, reinforcing structural checks around the CCO role .