Anita L. DeFrantz
About Anita L. DeFrantz
Anita L. DeFrantz (born 1952) is an Independent Trustee of Western Asset Premier Bond Fund (WEA) and has served on the Board since 1998. Her background includes leadership in international sport governance and nonprofits: President of Tubman Truth Corp. (since 2015), Vice President of the International Olympic Committee (IOC) (since 2017), IOC Executive Board member (since 2013) and IOC member (since 1986); she previously led LA84 (formerly the Amateur Athletic Foundation of Los Angeles) from 1987–2015 and is President Emeritus (since 2015). She oversees 49 portfolios within the fund complex and is categorized as independent; no other public company board service is listed in the past five years .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| LA84 (formerly Amateur Athletic Foundation of Los Angeles) | President; Director; later President Emeritus | President 1987–2015; Director 1990–2015; President Emeritus since 2015 | Led prominent sports foundation and legacy programs |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Tubman Truth Corp. | President | Since 2015 | Nonprofit leadership role |
| International Olympic Committee (IOC) | Vice President; Executive Board Member; Member | VP since 2017; Exec Board since 2013; Member since 1986 | Senior governance roles in global sports body |
| LA84 | President Emeritus | Since 2015 | Post-leadership honorary role |
Board Governance
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Independence and structure
- Independent Trustees constitute more than 75% of the Board; Board Chair (William E. B. Siart) is an Independent Trustee, with all standing committees chaired by Independent Trustees .
- DeFrantz is an Independent Trustee (not an “interested person”) and is not an officer of the Fund .
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Committee assignments and chairs
- Memberships: Audit; Governance and Nominating; Executive and Contracts; Investment and Performance (DeFrantz is a member of all four) .
- Committee chairs: Audit (Robert Abeles, Jr.); Governance and Nominating (Jaynie Miller Studenmund); Executive and Contracts (William E. B. Siart); Investment and Performance (Susan B. Kerley) .
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Meetings and attendance (FY ended Dec 31, 2024)
- Meetings held: Board 8; Audit 6; Governance 3; Performance 5; Contracts 2 .
- Attendance: Each Trustee attended at least 75% of the total number of Board and committee meetings on which they served .
Fixed Compensation
| Fiscal Year Ended | Aggregate Compensation from WEA ($) | Pension/Retirement Benefits Accrued ($) | Estimated Annual Benefits Upon Retirement ($) | Total Compensation from Fund Complex ($) |
|---|---|---|---|---|
| Dec 31, 2024 | 1,152 | 0 | 0 | 366,000 |
- Compensation structure: Independent Trustees receive an annual retainer plus fees for attending regular and special meetings; additional fees apply for Board/committee leadership roles; expenses related to meeting attendance are reimbursed .
Performance Compensation
| Component | Disclosure |
|---|---|
| Annual/Target Bonus | Not disclosed for Trustees; proxy describes retainers/meeting fees only . |
| Stock/Option Awards | No equity awards disclosed for Trustees; proxy does not indicate equity-based director compensation . |
| Performance Metrics (TSR/EBITDA/ESG) | None disclosed for Trustees . |
| Clawback/COC/Severance | Not applicable/disclosed for Trustees . |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards (last 5 years) | None |
| Potential interlocks (competitors/suppliers/customers) | None indicated in proxy . |
| Portfolios overseen in complex | 49 |
Expertise & Qualifications
- The Board cites DeFrantz’s “business expertise and experience as a president, board member and/or executive officer of various businesses and non-profit and other organizations” among the qualifications supporting overall Board effectiveness .
Equity Ownership
| Holder | Dollar Range of Equity Securities in WEA | Aggregate Dollar Range in Family of Investment Companies |
|---|---|---|
| Anita L. DeFrantz | None | $10,001 to $50,000 |
- As of December 31, 2024, all Trustees and officers as a group beneficially owned less than 1% of WEA’s outstanding shares; DeFrantz specifically reported “None” for WEA holdings .
Governance Assessment
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Strengths
- Independent status with long board tenure (since 1998), and service on all key committees supports oversight breadth; Board and committee leadership are independent, with >75% independent composition—a strong governance posture for a closed-end fund .
- Attendance threshold met (≥75%) with regular committee activity; the Board held 8 meetings and committees were active across Audit, Governance, Performance, and Contracts during FY 2024, indicating ongoing engagement .
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Potential investor considerations
- Ownership alignment: DeFrantz reported no direct holdings in WEA as of Dec 31, 2024 (though she holds $10,001–$50,000 across the fund family). Some investors view direct fund ownership as a signal of alignment; the proxy does not disclose director stock ownership guidelines for WEA .
- Tenure: Very long service (since 1998) can raise independence-perception questions for some governance frameworks, although she is designated independent under the 1940 Act and NYSE audit independence criteria .
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Conflicts and red flags
- No related-party transactions, loans, pledging/hedging, or other conflicts were disclosed for DeFrantz in the proxy; she is not an “interested” Trustee, and no other public company boards/conflicts are listed .