Joseph T. Castro
About Joseph T. Castro
Joseph T. Castro is Vice President of the Nuveen S&P 500 Buy‑Write Income Fund (BXMX), elected as an officer in 2025, with a business address at 333 West Wacker Drive, Chicago, IL, and year of birth 1964 . He concurrently serves at Nuveen as Executive Vice President, Chief Risk and Compliance Officer (formerly Senior Managing Director and Head of Compliance), and has held senior roles at Nuveen Fund Advisors, LLC, Nuveen Securities, LLC and Nuveen, LLC . Officers of the Fund receive no compensation from BXMX; officer compensation (e.g., for the CCO) is paid by the Adviser (Nuveen) and not by the Fund, with only limited reimbursements applicable to the CCO’s incentive compensation . Officers are elected annually by the Board to serve until successors are elected and qualified; Mr. Castro’s term is indefinite, with length of service at the Funds since 2025 .
Past Roles
| Organization | Role/Title | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Executive Vice President, Chief Risk and Compliance Officer | Not disclosed | Not disclosed |
| Nuveen | Senior Managing Director and Head of Compliance (former) | Not disclosed | Not disclosed |
| Nuveen Fund Advisors, LLC | Senior Managing Director (former) | Not disclosed | Not disclosed |
| Nuveen Securities, LLC | Senior Managing Director (former) | Not disclosed | Not disclosed |
| Nuveen, LLC | Senior Managing Director (former) | Not disclosed | Not disclosed |
External Roles
| Organization | Role/Title | Years | Notes |
|---|---|---|---|
| None disclosed in BXMX proxy and related Nuveen Fund filings | — | — | No external directorships/committee roles disclosed for Mr. Castro . |
Fixed Compensation
| Component | Amount/Terms | Source/Notes |
|---|---|---|
| Base salary | Not paid by BXMX (officers receive no compensation from the Funds) | Compensation set and paid by the Adviser (Nuveen) . |
| Target bonus % | Not disclosed by the Fund | — |
| Actual bonus paid | Not disclosed by the Fund | — |
| Perquisites | Not disclosed by the Fund | — |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting | Notes |
|---|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — | BXMX does not disclose officer equity/bonus metrics; officers are compensated by the Adviser, not the Fund . |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership (individual) | Not individually disclosed for officers in BXMX proxy . |
| Officers/Board as a group ownership | Less than 1% of outstanding shares of each Fund as of Feb 18, 2025 . |
| Vested vs unvested | Not disclosed . |
| Options (exercisable/unexercisable) | Not disclosed . |
| Shares pledged as collateral | Not disclosed for officers . |
| Stock ownership guidelines | Governance principle applies to Board Members (invest at least one year of compensation), not officers . |
Employment Terms
| Term | Detail | Citation |
|---|---|---|
| Position | Vice President (BXMX) | |
| Start/Length of Service | Since 2025; term indefinite | |
| Election/Removal | Officers elected by the Board annually; serve until successors are elected and qualified | |
| Duties (Vice President) | Perform duties as assigned by Trustees, Chair, or Chief Administrative Officer | |
| Compensation setting | Compensation of officers, if any, is fixed by the Trustees | |
| Severance/Change‑of‑control | Not disclosed | — |
| Non‑compete/Non‑solicit/Garden leave | Not disclosed | — |
| Clawbacks/Tax gross‑ups | Not disclosed | — |
Performance & Track Record
- No executive‑specific performance metrics (e.g., TSR, revenue/EBITDA targets) are disclosed for Fund officers; officer compensation and performance evaluation occur at the Adviser (Nuveen) and are not detailed in the BXMX proxy .
Risk Indicators & Red Flags
- Section 16(a) compliance: The Fund reports that its Board Members and officers complied with all applicable Section 16(a) filing requirements during the last fiscal year and the prior year .
- No disclosures of related‑party transactions, hedging/pledging policies for officers, or legal proceedings specific to Mr. Castro were found in the BXMX proxy .
Compensation Committee Analysis
- Not applicable to Mr. Castro (officer, not director). BXMX discloses Board committee structure and compensation only for Independent Board Members; officers receive no compensation from the Funds .
Investment Implications
- Pay‑for‑performance and trading signals at the Fund level are limited: officers (including Mr. Castro) are not compensated by BXMX and individual officer ownership is not disclosed, reducing direct alignment indicators observable at the Fund entity . Retention risk, incentive mix, and vesting schedules reside at the Adviser (Nuveen) and are not detailed in the Fund’s proxy, which constrains analysis of compensation levers and potential insider selling pressure tied to Fund shares . Pending additional disclosure from Nuveen/TIAA at the parent level, investors should treat officer‑level incentives as opaque at the Fund and focus governance assessment on Board structure/oversight and Fund performance relative to mandate .