Eli Jones
About Eli Jones
Dr. Eli Jones (born 1961) is an Independent Trustee of Invesco Pennsylvania Value Municipal Income Trust (VPV), serving on the Invesco closed‑end funds’ Board since 2016 and on VPV’s Board since 2019 . He is Professor of Marketing, Lowry and Peggy Mays Eminent Scholar, and Dean Emeritus of Mays Business School at Texas A&M University; he holds a B.S. (1982), MBA (1986), and Ph.D. (1997) from Texas A&M University . He oversees 151 funds in the Invesco Fund Complex .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| University of Arkansas, Sam M. Walton College of Business | Dean; Sam M. Walton Leadership Chair in Business | 2012–2015 | Academic leadership |
| Louisiana State University, E.J. Ourso College of Business | Dean; Ourso Distinguished Professor of Business | 2008–2012 | Academic leadership |
| University of Houston, C.T. Bauer College of Business | Professor of Marketing; Associate Dean | 2007–2008; previously faculty since 1997 | Led Program for Excellence in Selling and Sales Excellence Institute (Executive Director 1997–2007) |
| Quaker Oats; Nabisco; Frito‑Lay | Sales and sales management roles | Pre-1997 | Fortune 100 operating experience |
| Arvest Bank | Director (past) | Not disclosed | Board service |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| Insperity, Inc. (formerly Administaff) | Director | Since 2020 | Previously Chair, Compensation Committee; member Nominating & Corporate Governance; Director 2004–2016 |
| First Financial Bank Texas (regional board) | Board Member | Since 2021 | Banking board role |
| First Financial Bankshares, Inc. (Texas) | Board Member | Since 2022 | Holding company board role |
Board Governance
- Independence: Classified as an Independent Trustee (not affiliated with the Adviser) and included among “Independent Trustees” in the compensation disclosure .
- Tenure and coverage: Invesco closed‑end funds Board since 2016; VPV Trustee since 2019; oversees 151 funds .
- Committees:
- Investments Committee: Serves on the Investments Committee; named among members of its Sub‑Committees, with text indicating sub‑committee chairs include Dr. Jones and Dr. Mathai‑Davis (Jones serves on/helps lead an Investments Sub‑Committee) .
- Governance Committee: Membership listed as Vandivort (Chair), Brown, Hostetler, Motley, Mathai‑Davis (Jones is not listed) .
- Compliance Committee: Membership listed as Motley, Perkin, Brown, Deckbar, Krentzman (Chair), Mathai‑Davis (Jones is not listed) .
- Attendance: The Board met 14 times in fiscal year ended Feb 28, 2025; each Independent Trustee attended at least 75% of Board and relevant committee meetings during their service period (meets minimum standard) .
- Lead Independent/Chair roles: Not disclosed for Jones in provided excerpts (no listing as Board Chair/Lead Independent in these sections) .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Aggregate Compensation from the Trust | $21,094 | Fiscal year ended Feb 28, 2025; “Trust” per proxy Annex B |
| Total Compensation from Invesco Fund Complex | $427,500 | Calendar year ended Dec 31, 2024 basis per Annex B header; paid to Trustees from the Complex |
| VPV Fund – Aggregate Compensation (per‑fund) | $1,721.49 | VPV’s fiscal year ended Feb 28, 2025; per‑fund breakdown table (JONES) |
Notes: Annex B shows no equity or option awards line items for Trustees; amounts reflect cash compensation (retainers/fees). Deferred compensation is available; across all trustees the total deferred (incl. earnings) was $67,148.69 in the fiscal year ended Feb 28, 2025 (individual elections not specified) .
Performance Compensation
- No performance‑based equity or option awards are presented for Trustees in the disclosed table; compensation appears cash‑based (no RSUs/PSUs/options disclosed for Trustees in Annex B) .
- No trustee‑specific performance metrics (TSR, revenue, EBITDA, ESG goals) are tied to trustee pay in the excerpts reviewed .
Other Directorships & Interlocks
| Company | Sector | Role | Potential Interlock/Conflict Considerations |
|---|---|---|---|
| Insperity, Inc. | HR services | Director; previously Comp Committee Chair and Nominating & Governance member (2004–2016) | If Invesco funds hold Insperity, this is a related issuer directorship; Board committees (e.g., Compliance) oversee conflicts generally, though Jones is not on Compliance Committee . |
| First Financial Bank Texas; First Financial Bankshares, Inc. | Banking | Regional board member (2021–); Board member (2022–) | Similar monitoring applies if funds invest in these issuers; conflicts oversight resides with Board/committees . |
Monitoring point: These are standard outside public company boards; the proxy describes the Compliance Committee’s role in overseeing potential conflicts reported by Invesco/CCO/independent advisors, and the Governance Committee reviews Board composition and Independent Trustee compensation (Jones not a member of either committee per listings) .
Expertise & Qualifications
- Academic/leadership expertise: Former Dean at three major business schools (Texas A&M, University of Arkansas, LSU) with deep marketing and sales scholarship and program leadership; extensive faculty leadership and executive program experience .
- Corporate operations experience: Early‑career sales leadership at Quaker Oats, Nabisco, and Frito‑Lay (Fortune 100) .
- Public company governance: Insperity director; prior service as Compensation Committee Chair and on Nominating & Corporate Governance .
Equity Ownership
- The proxy states Trustee ownership of fund shares and other Invesco funds is disclosed in Annex D in dollar‑range amounts; specific individual ranges for Dr. Jones are not included in the provided excerpts .
Governance Assessment
- Positives:
- Independent Trustee with significant public board and compensation committee experience (Insperity) and broad academic leadership credentials, supporting board effectiveness on strategy and human capital .
- Active participation standard met (≥75% attendance; 14 Board meetings held during the year) .
- Service on (and indicated leadership within) an Investments Committee Sub‑Committee aligns with fund oversight of performance and investment risk .
- Considerations/Risk indicators:
- External directorships (Insperity; First Financial Bank/Bankshares) can create potential related‑issuer interlocks if the funds invest in those companies; reliance on Compliance Committee processes to manage conflicts (Jones is not listed on Compliance/Governance Committees) .
- No red flags in filings: Section 16(a) reporting was in compliance for the fiscal year; no legal proceedings or related‑party transactions are flagged in excerpts reviewed .
Appendix: Source Notes
- Trustee elections and slates include Eli Jones as a nominee for VPV in 2025 .
- Trustee biographies and “Trustee Since” matrices (showing VPV service since 2019; Invesco funds Board member since 2016) .
- Committee compositions (Governance and Compliance) and functions .
- Investments Committee and Sub‑Committee membership/leadership references including Dr. Jones .
- Compensation tables and per‑fund breakdowns (Annex B) for Eli Jones (duplicative annex excerpts appear across the joint proxy for each fund).
- Board meetings and attendance standard .
- Ownership and Section 16 compliance statements .