David Lamb
About David Lamb
David J. Lamb is Chief Administrative Officer (Principal Executive Officer) of the Nuveen Mortgage & Income Fund (ticker: JLS). He has served as an officer of the Nuveen fund complex since 2015 and is also a Senior Managing Director of Nuveen Fund Advisors, LLC, Nuveen Securities, LLC, and Nuveen, with a business address at 333 West Wacker Drive, Chicago, IL 60606 . His year of birth is 1963; education details are not disclosed in the Fund’s filings reviewed . As the Fund’s principal executive officer, Lamb signs Sarbanes–Oxley (SOX) certifications on the Fund’s reports and served as signatory on the Fund’s N-PX filing, evidencing responsibility for disclosure controls and reporting .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen (fund complex) | Various positions prior to CAO role | Pre-2015 | Internal leadership roles within Nuveen prior to appointment as Fund CAO; details not itemized in proxy . |
Fixed Compensation
Officers receive no compensation from the Fund; they are employees of and compensated by Nuveen and/or its affiliates. Accordingly, base salary and cash bonus figures for David Lamb are not disclosed in JLS filings.
| Item | Disclosure |
|---|---|
| Base salary | Not disclosed by Fund; officers receive no compensation from the Fund . |
| Target bonus % | Not disclosed by Fund . |
| Actual bonus paid | Not disclosed by Fund . |
| Cash retainers/allowances | Not disclosed by Fund . |
Performance Compensation
No Fund-paid equity or performance awards are disclosed for officers (officers are compensated by the Adviser and its affiliates, not the Fund).
| Metric/Instrument | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Fund-linked incentives (RSUs/PSUs/options) | Not disclosed by Fund | Not disclosed | Not disclosed | Not disclosed | Not disclosed . |
Equity Ownership & Alignment
| Item | Disclosure |
|---|---|
| Individual beneficial ownership (David Lamb) | Not individually disclosed in the proxy; officers reported only as part of the “Board Members and Officers as a Group” . |
| Officers/Board as a group – JLS (Mortgage & Income) | 499 shares owned in aggregate as of December 31, 2024 . |
| Section 16(a) compliance | The Fund believes its Board Members and officers complied with all applicable Section 16(a) filing requirements during the last fiscal year and the prior year . |
| Shares pledged as collateral | Not disclosed in the proxy filings reviewed . |
| Stock ownership guidelines (officers) | Not disclosed in the proxy filings reviewed . |
Employment Terms
| Term | Details |
|---|---|
| Title | Chief Administrative Officer (Principal Executive Officer) . |
| Length of service | Since 2015 . |
| Term/renewal | Officers are elected annually by the Board; term is indefinite and continues until successors are elected and qualified . |
| Employer/affiliations | Senior Managing Director of Nuveen Fund Advisors, LLC; Nuveen Securities, LLC; Nuveen . |
| SOX Section 302/906 certifications | Signed Form N-CSR certifications dated September 5, 2024 as CAO/PEO . |
| N-PX signatory | Signed Form N-PX as Chief Administrative Officer on August 14, 2025 . |
| Severance/change-of-control | Not disclosed by the Fund (officers are compensated by Adviser) . |
| Non-compete / non-solicit | Not disclosed by the Fund . |
| Clawbacks / tax gross-ups | Not disclosed by the Fund . |
Performance Compensation (Detailed Plan Design)
No Fund-level performance metrics are tied to officer compensation in the proxy (officers receive no compensation from the Fund).
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed (officers paid by Adviser) | — | — | — | — | — . |
Additional Governance and Context (Fund-Level)
- Principal shareholders of JLS as of February 18, 2025 included Sit Investment Associates, Inc. with 1,517,612 shares (27.71%) and First Trust entities with 282,999 shares (5.17%) .
- The Board reports that officers and Board Members complied with Section 16(a) reporting requirements in the latest and prior fiscal years .
- Board and committee meeting cadence and oversight (including Audit Committee composition and responsibilities) are disclosed, underscoring a structured governance framework over reporting and controls .
Investment Implications
- Pay-for-performance alignment: Because Fund officers receive no compensation from the Fund and officer compensation is not disclosed, there is no direct line of sight between JLS performance metrics (e.g., TSR, NAV returns, discount management) and Lamb’s pay; alignment must be inferred through Nuveen’s broader compensation programs rather than Fund-specific incentives .
- Insider selling pressure: Individual insider ownership for Lamb is not disclosed; the aggregate “Board and officers as a group” held 499 JLS shares as of 12/31/2024, implying minimal insider float exposure and limited direct selling/buying signal at the Fund level .
- Retention risk: Long-tenured service (since 2015) as CAO/PEO and continuing senior roles across Nuveen entities suggest organizational continuity; no employment agreement terms or severance/change-in-control economics are disclosed at the Fund level .
- Governance/controls: Regular SOX certifications by Lamb as principal executive officer and an active Audit Committee framework reduce reporting/control risk; Section 16(a) compliance further indicates process discipline .
- Ownership concentration: Significant stake held by Sit Investment Associates (27.71%) indicates concentrated shareholder influence that may drive governance priorities (e.g., discount management, distribution policy), overshadowing executive compensation as a performance lever at the Fund level .