Martin Luther King III
About Martin Luther King III
Martin Luther King III (born 1957) is an Independent Director of TCW Strategic Income Fund, Inc. (TSI), serving since 2024 . He is President & CEO of The King Center (since 1998), CEO of Realizing the Dream (since January 2006), and has been an independent motivational lecturer since 1980 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The King Center | President & Chief Executive Officer | Since 1998 | National community leadership; governance experience with nonprofits |
| Realizing the Dream | Chief Executive Officer | Since Jan 2006 | Humanitarian initiatives; executive leadership |
| Self | Independent Motivational Lecturer | Since 1980 | Public advocacy and engagement |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| TCW Metropolitan West Funds | Trustee/Director | Current | Not disclosed |
| TCW ETF Trust | Trustee/Director | Current | Not disclosed |
| TCW Funds, Inc. | Director | Current | Not disclosed |
| TCW Private Asset Income Fund | Director | Current | Not disclosed |
Board Governance
- Independence: Classified as an Independent Director under the 1940 Act; not an “interested person” of the Company .
- Committee memberships and independence: Serves on both the Audit Committee and the Nominating & Governance Committee; all members of both committees are Independent Directors under NYSE standards .
- Committee leadership context: Nominating & Governance Committee chaired by Peter McMillan; Audit Committee chaired by Robert G. Rooney effective Dec 9, 2024; Ms. Rogers served as Audit Chair through Dec 9, 2024 .
- Board leadership: Independent Chair of the Board is Andrew Tarica; Independent Vice Chair is Patrick C. Haden .
- Attendance: Board met five times in FY 2024; each incumbent Nominee attended at least 75% of Board and applicable committee meetings .
- Scope within fund complex: Oversees 33 portfolios in the Fund Complex as of 2025 (32 in 2024) .
Fixed Compensation
| Item | Amount | Effective Dates/Notes |
|---|---|---|
| Independent Director annual fee | $17,000 | 1/1/2022 – 2/29/2024 |
| Per meeting fee (in-person joint Board/Committee) | $1,000 | 1/1/2022 – 2/29/2024 |
| Telephonic meeting fee | $250 | 1/1/2022 – 2/29/2024 |
| Chair supplemental retainer (Board / Audit / N&G) | $6,600 / $4,400 / $2,200 | 1/1/2022 – 2/29/2024 |
| Independent Director annual fee | $12,500 | Effective 3/1/2024 |
| Per meeting fee (in-person joint Board/Committee) | $500 | Effective 3/1/2024 |
| Telephonic meeting fee | $250 | Effective 3/1/2024 |
| Supplemental retainers (Board Chair / Vice Chair / Audit Chair / N&G Chair) | $4,500 / $3,000 / $750 / $750 | Effective 3/1/2024 |
| Expense reimbursement | Travel and out-of-pocket expenses reimbursed | Ongoing |
| Deferred Compensation Plan | Available to Independent Directors; unfunded, unsecured; returns track selected funds; distributions typically lump sum | Plan adopted 7/1/2013 |
| Director Compensation – 2024 | Aggregate Compensation From TSI | Pension/SERP Accrual | Est. Annual Benefits | Total From Fund Complex |
|---|---|---|---|---|
| Martin Luther King III | $3,625 | $0 | $0 | $332,875 |
| Note | Elected as TSI Director on 9/10/2024 |
| Director Compensation – 2023 | Aggregate From TSI | Pension/SERP Accrual | Est. Annual Benefits | Total From Fund Complex |
|---|---|---|---|---|
| Martin Luther King III | N/A (not a TSI Director) | N/A | N/A | $220,000 |
Observation: Proxy compensation tables present cash retainers/meeting fees and do not include equity or option awards for directors .
Performance Compensation
| Element | Details |
|---|---|
| Equity awards (RSUs/PSUs) | Not disclosed for directors in proxy tables; compensation reflects cash retainers/meeting fees |
| Stock options | Not disclosed for directors |
| Performance metrics (revenue, EBITDA, TSR, ESG) | Not disclosed/applicable for Independent Director compensation |
| Clawbacks | Not disclosed for directors |
Other Directorships & Interlocks
| Company/Entity | Role | Notable Notes |
|---|---|---|
| TCW Metropolitan West Funds | Trustee/Director | Within TCW fund complex |
| TCW ETF Trust | Trustee/Director | Within TCW fund complex |
| TCW Funds, Inc. | Director | Within TCW fund complex |
| TCW Private Asset Income Fund | Director | Within TCW fund complex |
| Portfolios overseen in Fund Complex | 33 (2025); 32 (2024) | Breadth of oversight across complex |
Related interlocks/conflicts context: Proxy states none of the Independent Director Nominees or immediate family owned securities in the Advisor or its affiliates as of June 30, 2024 and June 30, 2025, reducing direct related-party exposure .
Expertise & Qualifications
- Profile: “Nationally prominent community leader and organizer”; long-tenured nonprofit executive and public lecturer .
- Audit Committee Financial Expert designation: Board designated Ms. Rogers, Mr. Rooney, and Mr. Swell as audit committee financial experts; Mr. King is not listed among designated experts .
- Governance skill relevance: Serves on Audit and Nominating & Governance Committees; the latter oversees annual board self-assessments and director nominations/compensation recommendations .
Equity Ownership
| As of Date | Shares Beneficially Owned (TSI) | Dollar Range in TSI | Aggregate Dollar Range in Family of Investment Companies |
|---|---|---|---|
| July 31, 2024 | 0 | None | $1–$10,000 |
| July 31, 2025 | None (0) | None | $1–$10,000 |
Additional alignment note: Directors and officers as a group owned <1% of outstanding TSI shares in 2024 and 2025 . The proxy also notes no securities owned in the Advisor by Independent Director Nominees or immediate family as of the referenced dates .
Governance Assessment
-
Strengths for investor confidence
- Independent status; no Advisor/affiliate securities holdings reported for Independent Director Nominees .
- Active committee service on Audit and Nominating & Governance—key levers for financial oversight and board effectiveness; both committees comprised entirely of independent directors .
- Attendance: All incumbent nominees met at least the 75% threshold in FY 2024 across Board and applicable committees; Board met five times, indicating regular engagement cadence .
-
Potential risk indicators / monitoring items
- Low direct share ownership in TSI (None) and minimal aggregate dollar range across the fund complex ($1–$10k), suggesting limited economic alignment with TSI shareholders; this is a common pattern for registered fund boards but is still a watch item for alignment-focused investors .
- Not designated as an audit committee financial expert; financial literacy and depth are provided by other members (Rogers, Rooney, Swell), which helps mitigate but places reliance on peers for complex accounting/judgment areas .
- Compensation concentration from the fund complex ($332,875 in 2024) versus modest TSI-specific cash ($3,625 in 2024 post-election) reflects multi-fund workload; monitor time commitment and potential diffusion of attention across 33 portfolios .
-
Compensation structure developments
- As of March 1, 2024, fees were reduced (annual retainer and per-meeting fees), signaling cost discipline; chair/vice chair and committee chair retainers were reset to lower levels .
- Deferred Compensation Plan allows directors to defer fees into fund-linked returns; while not equity in TSI, it aligns some economics with the broader complex’s performance choices .
-
Related-party/transactions
- Proxy disclosures indicate no beneficial ownership in Advisor or its controlled affiliates for Independent Director Nominees; no related-party transactions disclosed for Mr. King in the proxy materials reviewed .