Company: NCZ-PA
Filing Date: 2025-04-11
Form Type: N-CSR
Source: 0001193125-25-079060
Chunk: 91

Company: Virtus Convertible & Income Fund II
Filing Date: 2025-04-11
Form: N-CSR
Chunk 91
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:                   |     |              |  6 |     |               |  1,518 |     |                 | 0 |     |                 | 0 |
| Ethan Turner              |     | Registered Investment Companies:  |     |              |  8 |     |               |  9,236 |     |                 | 0 |     |                 | 0 |
|                           |     | Other Pooled Investment Vehicles: |     |              |  1 |     |               |     57 |     |                 | 0 |     |                 | 0 |
|                           |     | Other Accounts:                   |     |              |  4 |     |               |  1,118 |     |                 | 0 |     |                 | 0 |

(a)(3) Compensation Structure of Portfolio Manager(s) or Management Team Members

As of January 31, 2025, the following explains the compensation structure of each individual employed by Voya Investment Management who share primary
responsibility for day-to-day portfolio management of the Fund:

The
compensation system for investment professionals with Voya Investment Management (“Voya IM”) is based on base salary, performance bonus, and equity or equity-like incentives or other long-term retention programs.

Voya IM realizes that its success is largely dependent on its ability to attract and retain key investment professionals. Voya IM’s compensation
philosophy is to align compensation closely with performance and to leverage the variable side of the compensation equation. Annually, the firm participates in comprehensive industry surveys and compares the relevant data to ensure that its
compensation plans remain competitive.

Key investment professionals such as portfolio managers and traders are paid competitive base salaries, are
eligible for discretionary bonuses and generally participate in the firm’s long-term compensation program. Portfolio managers of private funds may be eligible for carried interest allocations.

Bonus Program. The overall design of the annual incentive plan for investment professionals was developed to tie pay to both portfolio performance and
profitability and is structured to drive performance and promote retention of top talent. Individual bonus target awards are based on external market data and internal comparators. Investment performance is measured on both relative and absolute
performance in all areas, and performance goals are set to appropriately reflect requirements for the investment team. The results for overall Voya IM include a review of firm profitability, team performance and the investment professional’s
individual performance, all of which influence the outcome of the discretionary bonus award recommendation process. The measures for each team are reviewed annually