Kimberly Ann Flynn
About Kimberly Ann Flynn
Kimberly Ann Flynn (year of birth: 1977) serves as Vice President of MCN since 2024 and is President of XA Investments LLC (XAI) since 2024; she previously served as Managing Director at XAI (2016–2024) and held product development leadership roles at Nuveen Investments (2004–2016) . Fund officer compensation is not paid by MCN; officers may be compensated by the adviser (XAI), and as of December 31, 2024, Flynn owned no MCN shares . MCN’s long-term track record (annualized total returns as of 5/31/2024) reflects consistent income-oriented performance, with NAV returns of 5.47% since inception and 6.46% over 10 years; price returns were 6.08% since inception and 8.39% over 10 years .
| MCN Annualized Total Returns (as of 5/31/2024) | ITD | 10Y | 5Y | 3Y | 1Y |
|---|---|---|---|---|---|
| NAV Return | 5.47% | 6.46% | 10.99% | 6.08% | 10.62% |
| Price Return | 6.08% | 8.39% | 13.99% | 6.02% | 8.22% |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| XA Investments LLC | President | 2024–present | Publicly articulated MCN shareholder benefits: scale efficiencies, continuity of PM team/strategy, enhanced IR, and pursuit of improved secondary market trading . |
| XA Investments LLC | Managing Director | 2016–2024 | Senior leadership at adviser to closed-end funds, bringing CEF market expertise . |
| MCN (Fund) | Vice President | 2024–present | Executive officer role following adviser transition; no compensation paid by Fund . |
| Nuveen Investments | SVP, Head of Product Development; VP; AVP; Associate | 2004–2016 | Product development and fund strategy roles; progression through leadership ranks . |
Fixed Compensation
MCN does not pay compensation to its officers; compensation (if any) is paid by the adviser (XAI).
| Year | Role at MCN | Compensation from Fund | Notes |
|---|---|---|---|
| FY 2024 | Vice President | $0 | “The Fund’s officers receive no compensation from the Fund but may be officers or employees of the Adviser and may receive compensation in such capacities.” |
The Fund does not accrue or pay retirement/pension benefits to Trustees; officer pension/retirement details are not disclosed .
Performance Compensation
No Fund-level performance incentives (bonus metrics, RSUs/PSUs, options, vesting schedules) are disclosed for MCN officers; compensation and any performance metrics reside at XAI and are not included in MCN filings .
Equity Ownership & Alignment
| Name | Beneficial Ownership (Shares) | Ownership % of Shares Outstanding | Pledged as Collateral | Notes |
|---|---|---|---|---|
| Kimberly Ann Flynn | None | 0% (context: 21,116,722 shares outstanding as of 6/20/2025 record date) | Not disclosed | Officers and Trustees as a group owned <1% as of 12/31/2024 . |
- Stock ownership guidelines and compliance status: not disclosed for MCN officers .
- Options/RSUs and exercisable/unexercisable breakdown: not disclosed .
Employment Terms
| Term | Detail |
|---|---|
| MCN Position | Vice President (since 2024) |
| Employment contract term/expiration | Not disclosed in Fund filings |
| Severance provisions | Not disclosed |
| Change-of-control triggers | Not disclosed for officers; Fund board reconstitution and advisory/sub-advisory changes approved Oct 15, 2024 |
| Clawback provisions | Not disclosed |
| Non-compete / Non-solicit / Garden leave | Not disclosed |
| Post-termination consulting | Not disclosed |
Investment Implications
- Alignment: Flynn’s MCN officer compensation is $0 and she owned no MCN shares as of 12/31/2024, limiting direct Fund-level pay-for-performance signals; alignment likely resides within XAI’s compensation framework, which is not disclosed in MCN filings .
- Retention/contract risk: No employment agreement, severance, or change-of-control economics are disclosed for MCN officers; retention and incentives depend on XAI, outside MCN filings .
- Trading signals: No insider ownership by Flynn; Section 16 reporting noted timely compliance for applicable persons in FY2024, with no delinquent filings disclosed .
- Execution focus: Flynn emphasized IR and secondary-market improvements (including scale efficiencies and trading support) following the adviser transition and Fund rebrand—key levers for CEF valuation, liquidity, and premium/discount dynamics .
- Governance context: MCN’s Board has Audit and Governance committees; no compensation committee exists, consistent with CEF structures where officers are compensated by the adviser rather than the Fund .
Overall, analyst attention should center on XAI-level incentives and MCN secondary-market outcomes (premium/discount, volume, ATM program efficacy). Fund filings support Flynn’s strategic emphasis but do not provide XAI compensation details, making direct pay-for-performance assessment incomplete from MCN documents alone .