Brett E. Black
About Brett E. Black
Brett E. Black (born 1972) serves as Vice President and Chief Compliance Officer (CCO) of the Nuveen S&P 500 Buy-Write Income Fund (BXMX) and related Nuveen funds; he has served in these officer roles since 2022. Officers are elected annually by the Board to serve until successors are elected and qualified and receive no compensation from the Funds; Black is a Managing Director and CCO at Nuveen (the adviser) and previously held senior compliance roles at BMO Funds, Inc. . The proxy does not tie officer compensation to fund TSR or operating performance; it notes only that officers receive no compensation from the Funds . The Board’s Compliance Committee meets quarterly and receives written and oral reports from the Funds’ CCO, who also provides an annual report to the full Board regarding compliance programs .
Past Roles
| Organization | Role | Years | Strategic Impact / Notes |
|---|---|---|---|
| BMO Funds, Inc. | Vice President; Deputy Chief Compliance Officer (2014–2017); Chief Compliance Officer and Anti-Money Laundering Compliance Officer (2017–2022) | 2014–2022 | Senior leadership of fund compliance and AML programs prior to joining Nuveen |
| Nuveen | Managing Director, Chief Compliance Officer (principal occupation) | Noted as current | Serves as CCO of Nuveen in addition to officer roles across Nuveen funds |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| None disclosed in BXMX proxy filings | — | — | Officer bios list principal occupations only; no external directorships disclosed for Black |
Fixed Compensation
| Component | Disclosure | Source |
|---|---|---|
| Base salary | Not disclosed by the Fund; officers receive no compensation from the Funds (compensation, if any, is at adviser Nuveen) | |
| Target/actual cash bonus | Not disclosed by the Fund; officers receive no compensation from the Funds | |
| Perquisites | Not disclosed | |
| Pension/SERP | Not disclosed | |
| Deferred compensation | Not disclosed |
Officers are elected annually by the Board to serve until successors are elected and qualified .
Performance Compensation
| Metric | Weighting | Target | Actual/Payout | Instrument | Vesting |
|---|---|---|---|---|---|
| Not disclosed in Fund proxy (officers receive no compensation from the Funds) | — | — | — | — | — |
| Notes | The proxy contains no officer incentive plan metrics (e.g., TSR, revenue, EBITDA) for Fund officers; compensation is not paid by the Funds |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Individual BXMX share ownership by Brett E. Black | Not individually disclosed in proxy appendices (officer holdings not itemized) |
| Officers as a group ownership | Board Members and executive officers as a group beneficially owned less than 1% of the outstanding shares of each Fund as of Feb 18, 2025 |
| “All Board Members/Nominees and Officers as a Group” share count (S&P Buy-Write, as of Dec 31, 2024) | 6,690 shares (group total across that fund) |
| Ownership as % of shares outstanding | Not provided for officers individually; each Board Member’s individual holdings <1%, and officers as a group <1% for each Fund |
| Shares pledged/hedging by officers | No pledging/hedging disclosures for officers in the proxy; not disclosed |
Employment Terms
| Term | Detail |
|---|---|
| Position | Vice President and Chief Compliance Officer (Fund officer) |
| Term/Election | Term: Indefinite; officers are elected annually by the Board to serve until successors are elected and qualified |
| Length of service in role | Since 2022 |
| Compensation source | Officers receive no compensation from the Funds (paid by adviser/affiliates if applicable) |
| Severance / Change-in-control (CIC) | Not disclosed in Fund proxy filings |
| Clawbacks, non-compete, non-solicit | Not disclosed in Fund proxy filings |
| Compliance oversight cadence | Compliance Committee meets quarterly; CCO reports quarterly and provides annual report to full Board |
Risk Indicators and Governance Notes
- Section 16(a)/1940 Act Section 30(h) compliance: Based on furnished forms, each Fund believes Board Members and officers, the Adviser and affiliates complied with applicable filing requirements during the last fiscal year and the previous fiscal year .
- Board structure and oversight: Seven standing committees, including Compliance, Risk Management and Regulatory Oversight; CCO engagement is formalized via quarterly and annual reporting .
Investment Implications
- Pay-for-performance linkage at the Fund level appears minimal for officers: compensation is not paid by the Funds and the proxy provides no performance metric ties for officers; this limits direct compensation alignment with BXMX’s TSR or NAV performance at the Fund level .
- Insider selling pressure analysis is constrained: officer-level BXMX holdings are not individually disclosed; Board and officer holdings as a group are <1% of outstanding shares, suggesting immaterial ownership-driven trading impact at the Fund level .
- Governance/compliance continuity: As CCO (and Managing Director at Nuveen), Black’s remit is centered on compliance oversight rather than portfolio or capital allocation; quarterly committee interface and annual reporting support process stability, not direct performance catalysts .
- Retention/CIC risk can’t be quantified from Fund filings: no employment contract, severance or CIC terms are disclosed for Fund officers; tracking would require adviser-level (Nuveen/TIAA) disclosures not included in BXMX’s proxy .