Navid Tofigh
About Navid Tofigh
Navid J. Tofigh is Vice President and Secretary of Templeton Emerging Markets Income Fund (TEI), serving as Vice President since 2015 and Secretary since 2023; his year of birth is 1972 and he is based at One Franklin Parkway, San Mateo, CA . He is a Senior Associate General Counsel at Franklin Templeton and serves as an officer across certain funds in the Franklin Templeton complex . In fund governance, he regularly signs proxy materials (“By Order of the Board of Trustees”) and supports board processes; he is also designated attorney-in-fact on Section 13/16 filings for Franklin-affiliated reporting entities, evidencing his legal and compliance responsibilities .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Franklin Templeton | Senior Associate General Counsel | “During at least the past five years” | Legal oversight and governance for funds; officer of certain funds in the complex |
| Templeton Emerging Markets Income Fund (TEI) | Vice President | Since 2015 | Fund executive officer supporting board and governance administration |
| Templeton Emerging Markets Income Fund (TEI) | Secretary | Since 2023 | Secretary role including proxy execution and board documentation |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed | — | — | No external directorships or roles disclosed in TEI filings |
Fixed Compensation
| Component | Amount/Terms | Source |
|---|---|---|
| Fund-paid compensation to officers | Not paid by the Fund; salaries and expenses of officers are paid by the Investment Manager or its affiliates | |
| Pension/retirement benefits (Fund expense) | None accrued as part of Fund expenses | |
| Base salary, target bonus %, actual bonus | Not disclosed by TEI; officer pay is managed by Franklin Templeton (Investment Manager) and not detailed in Fund proxy |
Key takeaway: TEI does not disclose officer cash compensation; officers are paid by Franklin Templeton affiliates rather than by the Fund .
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — | — |
- TEI filings do not disclose revenue/EBITDA/TSR-linked metrics, PSUs/RSUs/options, or vesting schedules for fund officers; compensation is not borne by the Fund and is not detailed in the proxy .
Equity Ownership & Alignment
| Category | Detail | Source |
|---|---|---|
| TEI beneficial ownership | No securities beneficially owned as reported on Form 3 (2015) | |
| Insider transactions | No Form 4 transactions for Tofigh found in TEI filings search; limited power of attorney designates him to sign filings for others | |
| Shares pledged as collateral | Not disclosed | |
| Stock ownership guidelines | Board members have investment requirements; officer ownership guidelines for TEI not disclosed (board policy applies to Trustees) | |
| Vested vs unvested shares | Not disclosed |
Note: Tofigh signed as Attorney-In-Fact on a 2024 Form 3 for another officer (Jeffrey W. White), further indicating his role in compliance filings; that filing also reflected “No securities are beneficially owned” for the reporting person, with Tofigh signing .
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Appointment and term | Officers are appointed by Trustees and serve at the pleasure of the Board | |
| Start dates | Vice President since 2015; Secretary since 2023 | |
| Severance & change-of-control | Not disclosed in TEI filings for officers | |
| Non-compete/solicit, garden leave | Not disclosed | |
| Clawback provisions | Not disclosed for officers | |
| Attorney-in-fact authority | Limited POA authorizes Tofigh to prepare/execute/file Section 13/16 reports for Franklin and affiliated closed-end funds |
Investment Implications
- Compensation alignment: TEI officers, including Tofigh, are not compensated by the Fund; no disclosed incentive linkage to Fund TSR, NAV performance, or income metrics. This reduces direct pay-for-performance alignment at the Fund level, with compensation set by Franklin Templeton affiliates and not transparent in TEI proxy .
- Insider selling pressure: Form 3 indicates Tofigh held no TEI securities when reported in 2015; no TEI insider ownership or vesting schedules disclosed, implying limited direct selling/vesting overhang signals for TEI from this officer .
- Governance and retention: Officers serve at the pleasure of the Board without disclosed employment contracts, severance, or change-of-control economics in TEI filings, suggesting flexibility for board changes but limited visibility on retention incentives .
- Risk indicators: No disclosures of pledging, hedging, or related-party transactions linked to Tofigh in TEI documents; his role as attorney-in-fact underscores compliance governance rather than economic exposure to TEI .