Marc Cardella
About Marc Cardella
Marc Cardella serves as Vice President and Controller (Principal Financial Officer) of Nuveen Quality Municipal Income Fund (ticker: NAD). He has served in this officer role since 2024 and was born in 1984; officers are elected annually and serve until successors are elected and qualified . He signs Sarbanes–Oxley Section 302 and 906 certifications for NAD’s semi-annual reports, reflecting responsibility for disclosure controls and internal control over financial reporting as the principal financial officer . Fund filings do not disclose education, TSR, revenue growth, or EBITDA growth for Cardella; those items are not reported at the fund level .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Quality Municipal Income Fund (NAD) | Vice President and Controller (Principal Financial Officer) | Since 2024 | Principal financial officer for NAD; signs SOX certifications and is responsible for disclosure controls and internal control over financial reporting |
| Nuveen | Senior Managing Director; Head of Public Investment Finance | Past 5 years (principal occupations) | Leads public investment finance at Nuveen; senior management capacity across fund affiliates |
| Nuveen Fund Advisors, LLC | Senior Managing Director | Past 5 years | Senior management across adviser operations supporting funds |
| Nuveen Asset Management, LLC | Senior Managing Director | Past 5 years | Senior management, asset management affiliate alignment |
| Teachers Advisors, LLC | Senior Managing Director | Past 5 years | Senior role at affiliate advising mutual funds in the complex |
| TIAA-CREF Investment Management, LLC | Senior Managing Director | Past 5 years | Senior role in investment management affiliate within fund complex |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Teachers Insurance and Annuity Association of America (TIAA) | Managing Director | Past 5 years | Senior leadership at TIAA supporting affiliated funds |
| TIAA SMA Strategies LLC | Managing Director | Past 5 years | Senior leadership for separate accounts strategies |
| TIAA Separate Account VA‑1 | Principal Financial Officer, Principal Accounting Officer, Treasurer | Past 5 years | Financial reporting leadership for variable annuity account |
| College Retirement Equities Fund (CREF) | Principal Financial Officer, Principal Accounting Officer, Treasurer | Past 5 years | Financial reporting leadership for CREF |
Fixed Compensation
Officers receive no compensation from the Funds; the Funds have no employees. Compensation for the Funds’ Chief Compliance Officer is paid by the Adviser (Nuveen), with Board review and input; the Funds reimburse an allocable portion of the Adviser’s cost of the CCO’s incentive compensation. Fund filings do not disclose base salary or bonus amounts for officers, including Marc Cardella, as their compensation is not paid by the Funds .
| Component | Fund-Level Disclosure | Notes |
|---|---|---|
| Base salary | Not disclosed; officers receive no compensation from the Funds | Compensation, if any, is paid by affiliates (Adviser/related entities), not by NAD |
| Target bonus % | Not disclosed | — |
| Actual bonus paid | Not disclosed | — |
| Perquisites | Not disclosed | — |
| Pension/SERP | Funds do not have retirement or pension plans | Applies to fund governance; officer comp not fund-paid |
Performance Compensation
Fund filings do not disclose performance-based incentives for officers since officers are not compensated by the Funds. No metrics (revenue growth, EBITDA, TSR, ESG goals) or vesting schedules tied to fund-paid compensation are reported for Marc Cardella .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — |
Equity Ownership & Alignment
Form 3 filed December 3, 2024, indicates Marc Cardella as VP and Controller of NAD with no securities beneficially owned. Officers and Board Members as a group beneficially owned less than 1% of outstanding shares of each Fund as of June 20, 2025. No pledging, hedging, options, or derivative holdings are disclosed for Cardella in fund filings .
| Item | Value | Date/Context |
|---|---|---|
| Beneficial ownership (common shares) | 0 shares | Event date: 12/02/2024; Form 3 filed 12/03/2024 |
| Derivative securities (options/warrants) | None disclosed; “No securities are beneficially owned.” | Form 3 |
| Ownership as % of shares outstanding | <1% for officers and Board Members as a group | As of 06/20/2025 |
| Shares pledged as collateral | None disclosed; no beneficial ownership reported | As of Form 3 filing |
| Stock ownership guidelines | None disclosed for officers (Board Members have a principle to invest at least one year of compensation) | Board principle; not applicable to officers |
Employment Terms
| Term/Provision | Disclosure |
|---|---|
| Title | Vice President and Controller (Principal Financial Officer) |
| Term of office | Indefinite; elected annually by the Board; serves until successor elected and qualified |
| Length of time served | Since 2024 |
| Employment agreement | Not disclosed at the Fund level |
| Severance & change-of-control | Not disclosed at the Fund level |
| Clawback policy | “Recovery of Erroneously Awarded Compensation” marked Not applicable in N‑CSR |
| SOX certifications | Section 302 and 906 certifications signed July 7, 2025 |
| Non‑compete / non‑solicit | Not disclosed at the Fund level |
| Garden leave / consulting | Not disclosed at the Fund level |
| Address on file | 8500 Andrew Carnegie Blvd, Charlotte, NC 28262 |
Investment Implications
- Pay-for-performance alignment at the fund level is minimal for officers: NAD does not pay officer compensation, and filings provide no fund-tied incentive metrics or vesting schedules for Cardella. This limits direct fund-level compensation levers as signals for execution or alignment analysis .
- Insider selling pressure risk appears low as of the latest disclosure: Cardella reported zero beneficial ownership on Form 3 (event date 12/02/2024), implying no current position to sell; subsequent ownership changes are not disclosed in fund filings reviewed .
- Governance and control assurance signal: Cardella’s role includes signing SOX 302 and 906 certifications, indicating responsibility for disclosure controls and internal control over financial reporting; this underscores reliance on internal process quality rather than incentive alignment at the fund level .
- Retention risk assessment cannot be made from fund filings: employment contracts, severance, and change‑of‑control economics for officers are not disclosed by NAD; officers are employees of affiliates (Nuveen/TIAA), and compensation/terms would reside there rather than the Fund .