Veronica A. Seaman
About Veronica A. Seaman
Veronica A. Seaman is an executive officer of Tri-Continental Corporation (TY), serving as Vice President as of 2025; she has been Vice President, Global Operations and Investor Services since 2010 and is Director (since 2018) and President (since 2024) of Columbia Management Investment Services Corp. (CMIS), the fund servicing affiliate of Columbia Management/Ameriprise Financial. Year of birth: 1962. As of her initial Section 16 filing in October 2024, she reported no beneficial ownership of TY securities.
Past Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Columbia Management Investment Advisers, LLC | Vice President, Global Operations & Investor Services | Since 2010 | Global ops/investor services leadership across Columbia Threadneedle funds |
| Tri-Continental Corporation (TY) | Vice President (officer of the Corporation) | 2025 | Elected officer serving at pleasure of the Board |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Columbia Management Investment Services Corp. (CMIS) | Director | Since 2018 | Fund servicing affiliate within Columbia Funds Complex |
| Columbia Management Investment Services Corp. (CMIS) | President | Since 2024 | Leads shareholder servicing operations (CMIS) |
Fixed Compensation
- Tri-Continental does not pay compensation to officers employed by the Manager or its affiliates (except a portion of the CCO’s compensation); officer compensation is paid by Columbia Management/Ameriprise Financial.
- Columbia Management’s compensation framework for investment professionals consists of base salary and annual incentive awards with a mix of cash bonus, Ameriprise equity (restricted stock/options for senior employees), and deferred compensation; base salary is set using market data and internal equity.
- Deferred compensation is credited based on performance of specified Columbia funds; equity awards vest over multiple years to aid retention.
Performance Compensation
- Incentive awards for Columbia Management investment professionals are discretionary and consider investment team performance (scorecards), peer/management review, and plan funding linked to Columbia Threadneedle revenues/profitability (AUM-driven) and Ameriprise profitability; largest weighting is on 3-year results.
| Metric | Weighting | Notes |
|---|---|---|
| 1-year performance vs benchmark/peers | 10% | As disclosed in prior fund filings |
| 3-year performance vs benchmark/peers | 60% | Primary weight in scorecards |
| 5-year performance vs benchmark/peers | 30% | Long-term alignment |
Note: TY’s proxy does not disclose individual metrics, targets, or payouts for officers; the structure above reflects Columbia Management’s investment professional framework and may not precisely apply to operations leaders such as Ms. Seaman.
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| TY common shares beneficially owned | 0 shares; Form 3 states “No securities are beneficially owned.” |
| Ownership % of common shares outstanding | 0%; common shares outstanding were 51,961,090.187 as of April 29, 2025. |
| Derivative securities (options/RSUs) | None reported on Form 3 (no non-derivative or derivative holdings). |
| Pledged/hedged shares | Not disclosed; with zero beneficial ownership, no pledged/hedged TY shares indicated. |
| Stock ownership guidelines (officers) | Not disclosed by TY; officers are employees of the Manager. |
Employment Terms
- Officers serve at the pleasure of the Board; the proxy does not detail individual employment agreements, severance, or change-of-control provisions for officers.
- No clawback, tax gross-ups, or non-compete/non-solicit terms are disclosed for officers in TY’s proxy.
Additional Governance/Disclosure Context
- Ms. Seaman executed a Power of Attorney authorizing designated counsel to file Forms 3, 4, and 5 for TY and other Columbia-managed closed-end funds, dated October 1, 2024.
- TY’s directors and officers as a group owned less than 1% of TY common stock as of December 31, 2024.
Investment Implications
- Alignment: With zero reported beneficial ownership of TY stock and no fund-paid executive compensation, direct pay-for-performance alignment to TY’s share price is limited; officer incentives are set by Columbia Management/Ameriprise frameworks rather than TY-specific metrics.
- Selling pressure: Form 3 shows no holdings, implying low insider selling pressure cues for TY from Ms. Seaman specifically.
- Retention/continuity: Long tenure in ops/investor services (since 2010) and elevation to CMIS President (2024) suggest continuity at the servicing affiliate; retention risk would be driven by Ameriprise/Columbia Management policies rather than TY-level economics.
- Data gaps: TY’s proxy does not disclose officer-specific salary/bonus/equity metrics, vesting schedules, or severance/change-of-control terms; monitoring future Section 16 filings (Forms 4/5) and Ameriprise/Columbia governance updates is prudent to detect any changes impacting alignment or selling pressure.