Regents approve fiscal 2024–25 incentive pay for chief investment officer; later governance vote records two abstentions

The University of California Board of Regents approved incentive compensation for fiscal year 2024–25 for Jagdeep Buckner, chief investment officer and vice president, Investments, Office of the President. The item was taken as a consent item and recorded as approved; the governance committee later presented the same item for a committee vote, which passed with two abstentions.

The consent vote to move and approve item G1 — “incentive compensation for fiscal year 2024–25 for chief investment officer and vice president” — was taken early in the meeting and recorded as approved. Regents recorded as voting “aye” during the consent action include Regent Agiano, Regent Cohen, Regent Liebe, Regent Milliken, Regent Riley and others in the roll call. Item G1 was subsequently presented in the governance committee report as “incentive compensation using non‑state funds for fiscal year 24‑25 for Jagdeep Buckner, chief investment officer and vice president, investments, Office of the President.” That governance committee vote passed with two recorded abstentions: Regent Brooks and Regent Kunalakis; other members of the committee recorded aye votes.

Meeting minutes and committee reports show the approvals but do not specify the dollar amount of the incentive or detailed performance metrics tied to the award. The governance presentation identified the funding source for the second vote as non‑state funds; no further funding breakdown or contract language was provided in the meeting record. The transcript does not specify any conditions, amendments, or follow‑up tasks tied to the award.

Regents and staff did not offer substantive debate or readbacks of performance measures during the recorded discussion; the item was handled as a consent and committee action and concluded with roll‑call votes.

Ending: The record reflects approval of the incentive for fiscal 2024–25 and, separately, a governance committee vote noting the use of non‑state funds and two abstentions. No additional implementation timeline or payment schedule was provided in the meeting record.