Judy Slotkin
About Judy Slotkin
Independent director of Sixth Street Specialty Lending, Inc. (TSLX) since 2019; currently Audit Committee Chair and member of the Compensation and Nominating & Corporate Governance Committees; designated “audit committee financial expert.” Former Bank of America Managing Director (private wealth management, NY market), Chief Risk Officer at Everspan Financial Guaranty, and senior leadership roles at Citigroup; B.S. in Accounting (Fairleigh Dickinson) and M.B.A. in Finance (Fordham). Birth year 1953; director in TSLX fund complex portfolios overseen: 2 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Bank of America | Managing Director; led business development & relationship management for NY market in private wealth management | 2010–2015 | Senior leadership in client development; retired 2015 |
| Everspan Financial Guaranty | Chief Risk Officer | Prior to 2010 | Enterprise risk oversight |
| Citigroup | Department Head, Corporate Finance Division; also Credit Head of Corporate Finance; Municipal Credit Head, Public Finance | Not stated | Led origination, trading & sales of ABS, agency CP, loan note trading, and IG loan syndications; credit leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Sixth Street Lending Partners | Trustee; Audit Committee Chair | Since 2022 | Part of TSLX “fund complex” |
| SIGA Technologies, Inc. | Director; Chair of Nominating & Corporate Governance; Audit Committee member | Prior service | Prior public-company board role as disclosed |
| Nephros, Inc. | Director; Audit Committee Chair | Prior service | Prior public-company board role as disclosed |
Board Governance
- Independence: Classified as a non-interested, Independent Director under the 1940 Act and NYSE rules .
- Committee assignments: Audit (Chair), Compensation (Member), Nominating & Corporate Governance (Member); designated “audit committee financial expert” .
- Meetings and attendance: Board met 4 times in 2024; Audit 8, Compensation 3, Nominating 1; no incumbent director attended fewer than 75% of Board and relevant committee meetings .
- Board leadership: No Lead Independent Director; Independent Directors hold executive sessions with the CCO; during executive sessions, the Audit Committee Chair (or designee) acts as presiding director .
- Risk oversight: Audit Committee oversees financial reporting/internal controls; Risk Management Committee (majority independent voting members) oversees capital/liquidity risk; coordination between Audit and Risk committees .
Fixed Compensation
| Metric | 2024 | 2025 Policy |
|---|---|---|
| Annual cash retainer (Independent Directors) | $110,000 [policy] | $125,000 effective Jan 1, 2025 |
| Board meeting fee (per meeting) | $2,500 | $2,500 |
| Monthly telephonic update meeting (per call) | $1,500 | $1,500 |
| Committee meeting fee (per meeting) | $1,000 | $1,000 |
| Chair fee – Audit Committee | $15,000 per year | $15,000 per year |
| Chair fee – Nominating & Corporate Governance | $10,000 per year | $10,000 per year |
| Judy Slotkin – Total fees earned (cash) | $157,500 (FY2024) | N/A |
Notes: Independent directors are reimbursed for reasonable out-of-pocket expenses .
Performance Compensation
| Component | Details |
|---|---|
| Equity awards (RSUs/PSUs/Options) | None; Company reports no equity compensation plans . |
| Performance metrics tied to director pay | None disclosed for directors . |
| Hedging/Derivatives | Directors and officers prohibited from short sales and transactions in publicly traded options; hedging discouraged and requires approval . |
| Pledging/Margin | Directors and officers may not hold TSLX securities in margin or pledge as collateral, with limited case-by-case exceptions requiring approval . |
Other Directorships & Interlocks
| Entity | Relationship to TSLX | Interlock/Conflict Commentary |
|---|---|---|
| Sixth Street Lending Partners | Same fund complex; Ms. Slotkin is Trustee & Audit Chair | Common governance across fund complex; she remains independent of the Adviser under 1940 Act; no specific related-party transaction disclosed involving her . |
| Adviser (Sixth Street Specialty Lending Advisers, LLC) | External manager to TSLX (structural) | Board discloses allocation/co-investment framework and potential Adviser-related conflicts handled via exemptive order and independent director approvals; not specific to Slotkin personally . |
Expertise & Qualifications
- Audit and risk oversight: Designated “audit committee financial expert”; extensive credit and structured finance background; former CRO .
- Capital markets: Led origination, trading, and sales of ABS; investment-grade loan syndications; corporate finance leadership at Citigroup .
- Education: B.S. Accounting (Fairleigh Dickinson University); M.B.A. Finance (Fordham University) .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Dollar Range of Ownership |
|---|---|---|---|
| Judy Slotkin | 19,775 | <0.1% | Over $100,000 |
| As of | March 31, 2025 | Based on 93,964,358 shares outstanding | Determined per NYSE closing price on March 31, 2025 |
| Sources |
Additional notes:
- No pledging or margin of Slotkin’s TSLX shares is disclosed; pledging footnotes in the table apply to certain executives but not to Slotkin .
- Company policy restricts hedging and prohibits margin/pledging absent approved exceptions .
Governance Assessment
Strengths
- Independent, financially sophisticated director; Audit Committee Chair and designated audit committee financial expert enhance financial reporting oversight .
- Strong engagement indicators: Board/committee meeting cadence and attendance above 75% threshold; Audit Committee met 8 times in 2024; Audit Committee report supports internal control effectiveness and auditor independence .
- Conservative director pay design: 100% cash; no equity grants; clear fee schedule; 2025 retainer increase disclosed .
Watch items
- No Lead Independent Director; mitigated by independent executive sessions with the CCO and Audit Chair presiding .
- Externally managed BDC structure entails inherent Adviser-related conflicts (fees on gross assets, allocation of opportunities); mitigated via independent committees, annual renewals of advisory/administration agreements, and SEC co-invest exemptive order requiring “required majority” independent director approvals; not specific to Slotkin .
RED FLAGS
- None specific to Ms. Slotkin identified: no related-party transactions disclosed; no litigation adverse to the Company involving directors/nominees; no pledging disclosures for her shares .