Sandra L. Yeager
About Sandra L. Yeager
Independent director since June 2020; born 1964. Over 26 years in investment management, including senior leadership roles in global equity research and portfolio management; retired after founding and leading Hanoverian Capital, LLC (2008–2016) . Current term proposed 2025–2028; oversees 172 funds within the Columbia Funds Complex .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| AllianceBernstein | Senior Vice President; began as equity analyst; advanced to global portfolio manager | 1990–2004 | Progressed from research to portfolio management for institutional and mutual fund clients |
| Morgan Stanley Investment Management | Managing Director; Head of Global Equity Research | 2004–2006 | Led a team of thirty people in global equity research |
| DuPont Capital | Managing Director; Head of International Equities | 2006–2008 | Led international equities; senior investment leadership |
| Hanoverian Capital, LLC | President & Founder; Chief Investment Officer (SEC-registered RIA) | 2008–2016 | Founded boutique specializing in international equities for institutional clients |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| NAPE (National Alliance for Partnerships in Equity) Education Foundation | Director | Oct 2016–Oct 2020 | Non-profit board service |
| Jennersville YMCA | Advisory Board | Jun 2022–Jun 2023 | Community advisory role |
Board Governance
- Independence: Listed among Independent Director Nominees; Director since June 2020; term proposed 2025–2028 .
- Committee assignments: Audit; Contracts; Investment Review .
- Audit engagement: Signatory to Audit Committee Report with Brian J. Gallagher and Patricia M. Flynn .
- Attendance: The proxy states each incumbent director attended at least 75% of Board and committee meetings in 2024 .
- Scope of oversight: Oversees 172 funds in the Columbia Funds Complex .
Fixed Compensation
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Aggregate Compensation From the Corporation ($) | $6,503 | $6,447 | $6,381 |
| Total Compensation From the Corporation and the Columbia Funds Complex ($) | $496,000 | $484,000 | $448,000 |
- Effective Jan 1, 2025, independent directors (other than Board Chair) receive: $275,000 annual retainer; committee chair additional $25,000; sub-committee chair additional $15,000; $6,000 per day for in-person Board meetings; $3,000 per day for in-person committee meetings (not same day as Board); $3,000 per special virtual meeting; plus $10,000 annually from the two closed-end funds including the Corporation. Board Chair cash compensation set at $575,000 (plus $10,000 closed-end funds and $3,000 per special virtual meeting) .
Performance Compensation
| Deferred Compensation Elections (from Corporation pay) | FY 2023 | FY 2024 |
|---|---|---|
| Amount Ms. Yeager elected to defer ($) | $3,223 | $3,190 |
- No stock, option, RSU/PSU awards disclosed for independent directors; compensation is cash-based with optional deferral into fund-tracked accounts under the Deferred Compensation Plan (treated as if invested in selected Columbia funds; paid based on performance of those investments; unfunded; distributions lump sum or over years) .
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Public company boards (past 5 years) | None disclosed for Yeager; non-profit roles listed (NAPE; Jennersville YMCA) . |
| Committee roles at other companies | Not disclosed . |
| Interlocks with competitors/suppliers/customers | None disclosed in proxy materials . |
Expertise & Qualifications
- Deep investment management expertise: global equity research leadership; international equities; institutional portfolio management; founder/CIO of SEC-registered RIA .
- Financial oversight: Audit Committee member and report signatory, with discussions encompassing auditor independence and PCAOB-required communications .
- Board experience across complex structures: Oversight across 172 funds, indicating familiarity with compliance, contracts, and investment review processes .
Equity Ownership
| Metric | As of Dec 31, 2023 | As of Dec 31, 2024 |
|---|---|---|
| Dollar Range of TY equity owned by Ms. Yeager | $10,001–$50,000 | $10,001–$50,000 |
| Aggregate Dollar Range of equity across Columbia Funds Complex | Over $100,000 (includes value of deferred compensation elections tracked to fund shares) | Over $100,000 (includes value of deferred compensation elections tracked to fund shares) |
| Directors and officers as a group—% of TY common stock | Less than 1% | Less than 1% |
Governance Assessment
- Strengths: Independent status; Audit Committee participation and oversight (including auditor independence); consistent attendance threshold met in 2024; substantive investment and research leadership background aligned with fund oversight .
- Alignment: Holds $10,001–$50,000 of TY and over $100,000 across the Columbia Funds Complex; participation in Deferred Compensation Plan aligns compensation with fund performance rather than guaranteed cash alone .
- Compensation structure: Cash-based retainer and meeting fees, with transparent fee schedule and peer-complex benchmarking (aiming at or below median) set by independent board members; YOY total compensation from the Columbia Funds Complex decreased from $496,000 (2022) to $448,000 (2024) .
- Potential watch items: High oversight load (172 funds) necessitates ongoing monitoring of engagement; however, attendance met proxy threshold in 2024. No Section 16(a) late filing noted for Yeager; one late filing was noted for a different director (Carrig) in 2023 .
No related-party transactions, hedging/pledging disclosures, stock/option grants, clawbacks, or change-of-control provisions are disclosed for independent directors in the proxy materials reviewed; governance risk indicators specific to Ms. Yeager are not flagged in the filings cited .