Albin Moschner

About Albin F. Moschner

Albin F. Moschner (born 1952) is an Independent Board Member of the Nuveen Mortgage & Income Fund (ticker: JLS) within Nuveen’s unitary fund board structure; he joined the Nuveen Funds boards in 2016. He is Founder and CEO of Northcroft Partners, LLC (management consulting) since 2012, and previously held senior operating roles in telecom and consumer electronics, including COO and CMO at Leap Wireless, President of Verizon Card Services, and CEO of Zenith Electronics; he holds a B.E. in Electrical Engineering (City College of New York, 1974) and an M.S. in Electrical Engineering (Syracuse University, 1979) . For funds without preferred shares (including JLS), he serves as a Class III Board Member with a term to the 2027 annual meeting; JLS has no preferred shares outstanding . All Nuveen fund trustees, including Mr. Moschner, are deemed Independent Board Members (not “interested persons”) under the 1940 Act .

Past Roles

External Roles

Board Governance

• Independence and service: Nuveen’s board is unitary; all trustees, including Mr. Moschner, are Independent Board Members (not “interested persons”) .
• Committee roles (Nuveen Funds board):
  • Closed-End Fund Committee: Chair (oversees discounts/premiums, leverage, market dynamics, actions to address discounts) .
  • Compliance, Risk Management and Regulatory Oversight Committee: Member .
  • Nominating and Governance Committee: Member .
  • Investment Committee: Member .
  • Audit Committee: Not listed as a member, but designated by the Board as an “audit committee financial expert” (with Nelson, Starr, Young) .
• Attendance: Each Board Member attended at least 75% of Board and committee meetings of which he/she was a member during the last fiscal year .
• Meeting cadence (JLS last fiscal year): Regular Board 5; Special Board 9; Executive 5; Dividend 10; Compliance 5; Audit 14; Nominating & Governance 5; Investment 4; Closed-End Fund 4 .

Fixed Compensation

• Independent Board Members compensation structure (effective Jan 1, 2024; increases noted for 2025):
  • Annual base retainer: $350,000; Committee membership retainers: Audit $30k ($35k in 2025), Compliance/Risk $30k ($35k in 2025), Investment $20k ($30k in 2025), Dividend/Nominating/Closed-End $20k ($25k in 2025); Board Chair add’l $140k ($150k in 2025); Committee Chair add’l $20–30k (rising to $25–35k in 2025); ad hoc meetings $1,000–$2,500; special assignment committee stipends (quarterly) from $1,250 (chair) and $5,000 (members) .
• No pension: Funds do not have retirement/pension plans; a Deferred Compensation Plan allows directors to defer fees into fund equivalents with chosen distributions .

Performance Compensation

Other Directorships & Interlocks

Expertise & Qualifications

• Designated audit committee financial expert; deep operating background in telecom, consumer electronics, and marketing; experience as public company CEO and director .
• Education: B.E. Electrical Engineering (City College of New York, 1974); M.S. Electrical Engineering (Syracuse University, 1979) .
• Closed-end funds oversight: Chairs Closed-End Fund Committee, with remit over discounts/premiums, leverage and market dynamics, and actions to address discounts; participates in workshops on discount management and leverage strategies .

Equity Ownership

Board policy expects each trustee to invest at least the equivalent of one year of compensation across the fund complex; individual fund holdings by each trustee constitute less than 1% of outstanding shares for each fund as of Feb 18, 2025 .

Governance Assessment

• Strengths:

  • Independent director with multi-industry operating experience and prior public-company board leadership; designated audit committee financial expert, boosting financial oversight credibility .
  • Chairs the Closed-End Fund Committee, a critical role for discount/leverage oversight and secondary market dynamics—highly relevant to closed-end fund investor outcomes .
  • Attendance compliance (≥75%) and participation across Compliance/Risk, Nominating & Governance, and Investment Committees indicate engagement breadth .

• Potential concerns / watch items:

  • Alignment at the fund level: 0 JLS shares owned; while policy targets aggregate investment across the complex, lack of JLS ownership may be viewed as weaker fund-specific alignment by some investors .
  • Board compensation increased meaningfully in 2024 (and again in 2025 for certain roles), raising governance cost scrutiny; however, structure remains cash retainer/fees with deferred comp option, and applies complex-wide .
  • No related-party transactions or conflicts disclosed for Mr. Moschner; continue to monitor annual proxy appendices and Section 16 filings (funds reported full compliance in the last fiscal year) .

Board and Committee Activity Snapshot (JLS – last fiscal year)