Daniel J. Beckman

About Daniel J. Beckman

Daniel J. Beckman (year of birth 1962) serves as President and Principal Executive Officer of Tri‑Continental Corporation (the “Corporation”) and as a Director (Interested, affiliated with the investment manager). He has been President since June 2021 and a Director since November 2021; he oversees 172 funds in the Columbia Funds Complex as of the 2025 proxy . His background is in product strategy and fund administration at Columbia Management Investment Advisers, with prior leadership as Head of North America Product (2015–2023) and ongoing executive roles across affiliated fund complexes . As of December 31, 2024, Mr. Beckman beneficially owned $10,001–$50,000 of the Corporation’s common stock and “Over $100,000” across funds in the complex; directors and officers as a group owned less than 1% of TY common stock .

Past Roles

External Roles

Board Service & Governance

• Board service history and elections: Director since November 2021; re‑elected June 24, 2025 for a term expiring at the 2028 Annual Meeting .
• Independence status: “Interested Director Nominee Affiliated with Investment Manager”; no committee assignments .
• Committee structure: Board committees (Audit, Compliance, Contracts, Investment Review, Board Governance) are comprised solely of Independent Directors; the independent Chair (Pamela G. Carlton) serves as point of contact between Independent Directors and the Manager .
• Attendance: Each incumbent Director attended at least 75% of Board and committee meetings held during 2024 .
• Dual‑role implications: Management representation (Mr. Beckman) on the Board is balanced by an independent Chair and fully independent committees; the Board has previously stated management participation can facilitate communication and alignment with stockholders’ interests while preserving independent oversight through structure and process .

Fixed Compensation

Officers and Directors who are employees of the Manager or its affiliates (like Mr. Beckman) receive no compensation from the Corporation; only the CCO’s compensation is partially paid by funds in the complex .

Context on independent director pay (governance reference):

• 2025 schedule: Independent Directors receive $10,000/year from the Closed‑End Funds (TY plus one other) and from other funds $275,000 annual retainer; committee Chairs +$25,000; sub‑committee chairs +$15,000; $6,000/day in‑person Board meetings; $3,000/day in‑person committee meetings (if separate); $3,000 per special virtual meeting; Chair receives $575,000 plus Closed‑End Funds fees .
• 2024 schedule: Similar structure; independent Directors retainer $275,000 and Chair $550,000 (Closed‑End Funds fee $10,000) .

Performance Compensation

Not disclosed by the Corporation. Because Mr. Beckman is employed by the Manager and receives no compensation from the Corporation, the proxy does not provide base salary, bonus targets, equity awards, or performance metric weightings/vesting related to TY. Any such incentives would be governed by Manager‑level arrangements not included in TY’s proxy .

Equity Ownership & Alignment

Additional alignment context:

• Directors and officers as a group beneficially owned less than 1% of TY’s common stock as of December 31, 2024 (no preferred stock owned) .
• The proxy does not disclose pledging/hedging policies specific to TY directors, nor stock ownership guidelines for directors/officers in the TY filing; our targeted searches of the 2025 proxy for “hedging,” “pledging,” and “ownership guidelines” returned no results (searched DEF 14A 2025 for hedging/pledging/ownership policy terms) [8].

Employment Terms

TY’s proxy provides no employment agreement, severance, change‑of‑control, non‑compete, or clawback details for Mr. Beckman. As an employee of the Manager, any such terms would be set by the Manager and are not included in TY’s filings; the Corporation pays no compensation to such officers .
We also searched recent 8‑Ks for appointments/compensation changes and found only meeting and distribution announcements; no Item 5.02 executive employment disclosures related to Mr. Beckman were present (reviewed 2025/2024 8‑Ks) .

Investment Implications

• Pay‑from‑manager structure: Because Mr. Beckman receives no compensation from the Corporation, TY cannot tie his pay directly to TY’s NAV or TSR; incentive alignment with TY shareholders is indirect through his role at the Manager .
• Skin‑in‑the‑game: His direct TY ownership is disclosed only as a dollar range ($10,001–$50,000) and has been stable across 2022–2024; aggregate complex ownership is over $100,000, while directors and officers collectively hold under 1% of TY common stock, indicating modest direct alignment at the TY security level .
• Governance mitigants: Independence safeguards include an independent Chair and fully independent standing committees; Mr. Beckman holds no committee roles, and the Board confirms adequate attendance thresholds (≥75%) in 2024, supporting oversight quality amid management affiliation .
• Board continuity: Re‑election in 2025 for a term through 2028 suggests Board support and governance stability, with the Board expressly noting benefits of having a senior Manager officer on the Board to enhance communication with independent members .

Note on data gaps: TY’s proxies do not disclose Mr. Beckman’s base salary, bonus targets, equity award vesting, severance/change‑of‑control terms, hedging/pledging policies, or ownership guidelines; these would reside with the Manager (Columbia/Ameriprise) and are not provided in TY filings .