Amy Lancellotta
About Amy Lancellotta
Amy B. R. Lancellotta is an independent Board Member of Nuveen Core Equity Alpha Fund (JCE), serving since 2021, and currently a Class II trustee with a term running until the 2026 annual meeting; she was born in 1959 and oversees 218 portfolios across the Nuveen fund complex . She is the former Managing Director of the Independent Directors Council (IDC) of the Investment Company Institute (ICI), has three decades of fund governance experience, and holds a B.A. (Penn State, 1981) and J.D. (George Washington University Law School, 1984) . The Nuveen boards classify her as an Independent Board Member (not an “interested person” of the Funds or adviser) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Independent Directors Council (IDC), ICI | Managing Director | 2006–2019 | Led governance, policy, and education for fund independent directors |
| Investment Company Institute (ICI) | Various positions | 1989–2006 | Regulatory, legislative, industry initiatives for funds |
| Washington, D.C. law firms | Associate | Pre-1989 | Fund/financial services legal roles (associate) |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Jewish Coalition Against Domestic Abuse (JCADA) | President; Director | President since 2023; Director since 2020 | Non-profit leadership; only directorship disclosed in past five years |
Board Governance
| Governance Aspect | Detail |
|---|---|
| Independence | Independent Board Member; not an “interested person” of the Funds/adviser and never an employee/director of TIAA/Nuveen |
| Board tenure (JCE) | Board member since 2021; Class II term through 2026 annual meeting |
| Portfolios overseen | 218 portfolios in the fund complex |
| Chair/leadership | Co‑Chair, Investment Committee |
| Committee memberships | Investment (Co‑Chair); Audit; Dividend; Nominating & Governance |
| Not on | Executive; Closed‑End Fund; Compliance, Risk Management & Regulatory Oversight |
| Audit committee financial expert | Not designated (experts: Moschner, Nelson, Starr, Young) |
| Attendance | Each Board Member attended ≥75% of Board and committee meetings in the last fiscal year |
| Board chair | Independent Chair: Robert L. Young |
Fixed Compensation
Compensation is cash-only; no equity is granted to directors. Structure increased effective Jan 1, 2024 (and again on some retainers Jan 1, 2025) .
| Component | 2023 | 2024 | 2025 | Notes |
|---|---|---|---|---|
| Annual director retainer | $210,000 | $350,000 | $350,000 | Flat fee; allocated across funds |
| Audit Committee member retainer | Per‑meeting fees in 2023 (e.g., $2,500/meeting) | $30,000 | $35,000 | Lancellotta is a member |
| Compliance/Risk Committee member retainer | Per‑meeting fees in 2023 | $30,000 | $35,000 | Not a member |
| Investment Committee member retainer | Per‑meeting fees in 2023 | $20,000 | $30,000 | Lancellotta is Co‑Chair |
| Dividend / Nominating & Governance / Closed‑End member retainer (each) | Per‑meeting fees in 2023 | $20,000 | $25,000 | Member of Dividend and N&G; not Closed‑End |
| Board Chair retainer | $140,000 | $140,000 | $150,000 | Board Chair is Young (not Lancellotta) |
| Committee Chair retainers | Most committee chairs $20–30k (2023) | $20–30k (varies by committee) | $25–35k (varies) | Lancellotta is Co‑Chair of Investment Committee |
| Ad hoc meeting fees | N/A | $1,000 or $2,500 per meeting | $1,000 or $2,500 per meeting | Time/urgency based |
| Special assignment committees | N/A | Chair/co‑chair quarterly fee from $1,250; members from $5,000 | Same |
Actual FY compensation paid (last fiscal year shown in proxy):
- JCE (Core Equity Alpha) paid Lancellotta $634; total from all funds in the complex was $469,250 .
| Payee | Amount ($) |
|---|---|
| JCE aggregate paid to Lancellotta (last FY) | 634 |
| Total compensation from funds in the Fund Complex | 469,250 |
Deferred compensation plan (optional): Directors may defer fees into notional fund investments; distributions elected as lump sum or over 2–20 years; no pension plans . Selected deferred fee amounts attributed to Lancellotta across participating funds (includes assumed investment returns) :
- JCE $210; JQC $1,420; BXMX $1,375; QQQX $1,169; JPC $3,277; NPV (Virginia Municipal) $395; SPXX $280 .
Performance Compensation
- No target bonus, no performance bonus, and no equity (RSUs, PSUs, options) for directors; compensation is cash retainers/fees only, with optional deferral into notional fund accounts .
- No performance metrics (revenue/EBITDA/TSR/ESG) are tied to director pay; no severance, change‑of‑control provisions, or perquisites disclosed for directors .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company directorships | None disclosed for Lancellotta |
| Non‑profit/other boards | JCADA – President since 2023; Director since 2020 |
| Interlocks or related‑party exposure | None listed for Lancellotta; the proxy’s related‑holdings table identifies only Mr. Kenny (not Lancellotta) with securities in entities advised by affiliates |
| Section 16 compliance | Funds report compliance with Section 16(a) filings for Board Members and officers during last FY |
Expertise & Qualifications
- 30+ years in fund governance and policy, including Managing Director of IDC, extensive work with ICI, and legal training/experience as an attorney in Washington, D.C. .
- Active committee leadership (Co‑Chair, Investment Committee) and memberships (Audit; Dividend; Nominating & Governance) demonstrate oversight across portfolios, performance risk, distribution policy, and board processes .
- Not designated an “audit committee financial expert” (others on the Audit Committee hold that designation) .
Equity Ownership
| Item | Detail |
|---|---|
| JCE dollar range owned | $0 |
| JCE shares owned | 0 shares |
| Aggregate range across family of investment companies | Over $100,000 |
| Ownership as % of shares outstanding | Each Board Member individually held <1% of any Fund; group also <1% |
| Ownership guideline | Board’s governance principle expects each Board Member to invest at least the equivalent of one year of compensation in funds in the Fund Complex (directly or deferred) |
| Pledging/hedging | Not disclosed |
| Insider trades | Not disclosed in the proxy; Section 16(a) compliance reported |
Governance Assessment
- Strengths / confidence signals:
- Independent status, robust committee workload, and Investment Committee co‑chair role support strong oversight of performance and risk .
- Attendance at or above the Board’s ≥75% threshold; broad portfolio coverage (218 portfolios) indicates scale experience .
- No related‑party holdings/exposures disclosed for Lancellotta; Section 16 compliance affirmed for Board Members .
- Potential alignment watch‑items:
- JCE‑specific ownership is $0 and 0 shares, though aggregate holdings across the registered fund family exceed $100,000; the Board encourages investment equivalent to one year of compensation, but individual compliance status is not disclosed .
- Director cash compensation increased materially beginning 2024 (annual retainer to $350,000, with higher committee/chair retainers in 2025), which may draw investor scrutiny on board cost vs. value; however, structure is complex‑wide and aligned with expanded committee retainers and responsibilities .
Overall, Lancellotta brings deep fund‑governance expertise and meaningful committee leadership to JCE’s board. Key monitoring items for investor alignment are personal JCE share ownership (currently none) versus aggregate fund‑family exposure, and ensuring that higher cash retainers continue to translate into visible oversight outcomes (e.g., performance, discount policy, distribution oversight) .