Brian J. Lockhart
About Brian J. Lockhart
Brian J. Lockhart (born 1974) serves as Vice President of Nuveen Real Estate Income Fund (JRS) and is Senior Managing Director and Head of Investment Oversight at Nuveen; he is also Senior Managing Director of Nuveen Fund Advisors, LLC and holds CFA and FRM designations . He has served as an officer of the Fund since 2019, with an indefinite term and annual election by the Board; officers receive no compensation from the Fund (paid by the adviser where applicable) . Fund-level TSR or KPI attribution to Lockhart is not disclosed in the proxy; investment performance oversight is managed at the Board level via the Investment Committee receiving quarterly reports from Nuveen’s investment oversight and risk groups .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Senior Managing Director and Head of Investment Oversight | Past 5 years (current) | Oversees fund performance and investment risk reporting to the Board; supports complex-wide investment oversight . |
| Nuveen Fund Advisors, LLC | Senior Managing Director | Past 5 years (current) | Senior leadership of adviser to the Fund Complex, aligning oversight and governance across funds . |
| Nuveen Funds (Fund Officer) | Vice President, Nuveen Real Estate Income Fund (JRS) | Since 2019 | Fund officer with indefinite term; supports governance and operations under the unitary board framework . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Professional Certifications | Chartered Financial Analyst (CFA); Certified Financial Risk Manager (FRM) | Not stated | Technical credentials supporting investment oversight and risk management . |
| — | No public company directorships or external boards disclosed | — | — |
Fixed Compensation
- Officers of the Funds serve without any compensation from the Funds; the Funds’ CCO compensation is paid by the Adviser, with partial reimbursement of incentive costs by the Funds .
- No base salary, bonus targets, or perquisites for Lockhart are disclosed at the Fund level; compensation would be paid by Nuveen/TIAA entities rather than JRS .
Performance Compensation
- No equity or cash performance awards for Fund officers are disclosed at the Fund level; there are no option/RSU/PSU grants, metrics, or vesting schedules reported for Lockhart in the proxy .
Equity Ownership & Alignment
- Board members and executive officers as a group beneficially owned less than 1% of each Fund’s outstanding shares as of February 18, 2025 .
- JRS outstanding common shares: 28,892,471 .
- Group beneficial ownership (Board members and officers) in JRS as of December 31, 2024: 1,344 shares .
| Metric | JRS |
|---|---|
| Outstanding Common Shares | 28,892,471 |
| Group Beneficial Ownership (Board + Officers) | 1,344 |
- No disclosure of Lockhart’s individual ownership, pledging, hedging, or compliance with any stock ownership guidelines at the Fund level .
Employment Terms
- Position: Vice President (Fund officer) with indefinite term; elected annually by the Board, serving since 2019 .
- Contracts: No employment contract, severance, or change‑of‑control provisions are disclosed at the Fund level for officers; the Funds have no employees .
- Section 16(a) compliance: The Funds state Board members and officers complied with applicable filing requirements in the last fiscal year .
Investment Implications
- Pay-for-performance alignment at the JRS level is limited for Fund officers: compensation is paid by the adviser and not by the Fund, with no disclosed KPIs, equity grants, or vesting that would create direct selling pressure or fund-level incentive alignment for Lockhart .
- Insider signal visibility is low: individual officer ownership and transactions are not disclosed in the proxy; group ownership in JRS is immaterial (<1%), suggesting negligible insider-driven float dynamics at the Fund level .
- Retention risk cannot be assessed from Fund documents: no severance, non‑compete, or CoC terms are disclosed for officers; tenure since 2019 indicates continuity, but actual economics are governed by Nuveen/TIAA employment arrangements outside the Fund proxy .
- Governance and execution oversight are robust at the Board/committee level (Investment Committee and Compliance/Risk Committee), with structured quarterly reporting from Nuveen’s investment oversight and risk groups; this supports process discipline but does not translate into individual executive compensation metrics or signals for Lockhart .