William Meyers
About William T. Meyers
William T. Meyers (Year of Birth: 1966) is a Class III Trustee of XAI Octagon Floating Rate & Alternative Income Trust (XFLT), serving since 2024. He is classified as an “Interested Trustee” due to his prior position as Senior Advisor to the Trust’s investment adviser, XA Investments LLC (2021–2023). Meyers brings over 35 years of investment management experience, including senior roles at Nuveen Securities and Nuveen Fund Advisors, and currently serves as President of Rivendell Financial Group, LLC .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| XA Investments LLC (Adviser to XFLT) | Senior Advisor | 2021–2023 | Prior affiliation makes Meyers an “Interested Trustee” under 1940 Act |
| Nuveen Securities, LLC; Nuveen Fund Advisors, LLC | Senior Managing Director; Managing Director | 2017–2020 | Senior leadership in distribution and fund advisory |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Rivendell Financial Group, LLC | President | 2021–present | Current occupation |
Board Governance
- Classification and term: Class III Trustee; term continues until the 2026 annual meeting or until a successor is elected and qualified .
- Independence: Classified as “Interested Trustee” because of prior role as Senior Advisor to XA Investments LLC; therefore not independent under Section 2(a)(19) of the 1940 Act .
- Committee assignments: XFLT’s standing committees (Audit; Governance) are composed solely of Independent Trustees (Cupps, Dingens, Franklin, Jones). Meyers is not a member of either committee .
- Board leadership: Independent Chair (Gregory G. Dingens); Independent Trustees represented by independent counsel and meet outside management .
- Meeting cadence and attendance: FY2024—Board held 6 meetings; Audit 4; Governance 2. All Trustees attended the annual meeting on May 21, 2024 . FY2023—Board held 7 meetings; Audit 4; Governance 2 .
Fixed Compensation
| Component | FY 2023 | FY 2024 | FY 2025 Policy (effective 1/1/2025) |
|---|---|---|---|
| Aggregate cash retainer (Fund Complex) | $0 (appointed 1/1/2024) | $50,000 | $66,000 aggregate annual retainer; Audit Chair +$17,500; Board Chair +$10,000; Governance Chair +$5,000 (allocated by managed assets across funds) |
| Pension/retirement benefits | None | None | None |
| Meeting fees | Not disclosed (no per-meeting fees indicated) | Not disclosed | Not disclosed |
Performance Compensation
- No performance-based compensation disclosed for Trustees (no bonus, RSUs/PSUs, option awards, or performance metrics tied to director pay) .
- The Trust does not accrue or pay retirement or pension benefits to Trustees .
Other Directorships & Interlocks
| Company | Role | Status | Notes |
|---|---|---|---|
| None disclosed | — | — | No other public company directorships listed for the past five years . |
Expertise & Qualifications
- Over 35 years in investment management, including senior distribution and advisory roles at Nuveen; current financial firm leadership at Rivendell .
- The Board cites financial, regulatory and investment expertise as rationale for service .
Equity Ownership
| Metric | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|
| Common shares owned | 2,150 | 2,493 |
| % of outstanding common shares | <1% | <1% |
| Dollar range of holdings in XFLT | $10,001–$50,000 | $10,001–$50,000 |
| Aggregate dollar range across fund complex | $10,001–$50,000 | $10,001–$50,000 |
Governance Assessment
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Independence and conflicts: Meyers is not independent; his prior advisory role with XA Investments (XFLT’s Adviser) classifies him as an “Interested Trustee.” This limits his eligibility for Audit and Governance committees and may be perceived as a potential alignment/conflict consideration, though independent committee structure mitigates risk .
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Committee effectiveness: Key oversight (Audit; Governance) rests exclusively with Independent Trustees; Meyers’ exclusion is consistent with good practice for conflicted directors but reduces his direct involvement in core oversight .
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Attendance and engagement: Board is active (6 meetings in FY2024; 7 in FY2023), and all Trustees attended the 2024 annual meeting, indicating engagement; however, director-specific attendance rates are not disclosed .
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Compensation and alignment: Director compensation is cash-based, modest, and without equity; Meyers’ beneficial ownership remains small (<1%). Absence of equity grants limits equity alignment, common for registered investment company boards but still a consideration for investors focused on “skin-in-the-game” .
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Structural governance signals: Independent Chair; independent counsel; executive sessions; and defined committee charters support governance quality. The presence of control-share statute disclosures and irrevocable proxy arrangements with Eagle Point clients is a broader governance context to monitor, not specific to Meyers but relevant to voting dynamics in XFLT .
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RED FLAGS:
- Not independent due to prior affiliation with Adviser (potential perceived conflict) .
- Limited ownership (<1%)—modest investor alignment .
- No role on Audit or Governance committees—reduced direct oversight influence .