Mark Czarniecki
About Mark J. Czarniecki
Mark J. Czarniecki is Vice President and Assistant Secretary of Nuveen New York Quality Municipal Income Fund (NAN). He has served in the Nuveen/TIAA fund complex since 2013 and was born in 1979, with current responsibilities spanning legal and governance roles across Nuveen Securities, Nuveen Fund Advisors, Nuveen Asset Management, Teachers Advisors, LLC and TIAA‑CREF Investment Management, LLC . Officers of the Fund receive no compensation from the Fund; compensation is paid by the Adviser, with CCO incentive costs partially reimbursed to the Adviser, and portfolio manager compensation (not Czarniecki’s role) is driven by risk‑adjusted investment performance versus benchmarks, Morningstar peer rankings over 1/3/5 years, and management reviews, with long‑term awards vesting after three years and profits interests vesting over time . He is frequently designated attorney‑in‑fact for trustees to execute registration statements and signed Rule 17g‑1 fidelity bond filings for the Nuveen complex, evidencing operational authority across funds .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen New York Quality Municipal Income Fund (NAN) | Vice President and Assistant Secretary | Since 2013 | Fund governance, officer responsibilities across the closed‑end complex |
| Nuveen Securities, LLC | Managing Director and Assistant Secretary | Not disclosed | Legal/secretarial functions for Nuveen entities |
| Nuveen Fund Advisors, LLC | Managing Director and Assistant Secretary | Not disclosed | Adviser governance and filings support |
| Nuveen (parent) | Managing Director and Associate General Counsel | Not disclosed | Complex‑wide legal leadership |
| Nuveen Asset Management, LLC | Managing Director, Assistant Secretary and Associate General Counsel | Not disclosed | Sub‑adviser governance and documentation |
| Teachers Advisors, LLC | Managing Director, Associate General Counsel and Assistant Secretary | Not disclosed | Legal leadership across TIAA mutual fund complex |
| TIAA‑CREF Investment Management, LLC | Managing Director, Associate General Counsel and Assistant Secretary | Not disclosed | Affiliate governance/operations |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Power of Attorney designations (Nuveen Closed‑End Funds trustees) | Attorney‑in‑Fact | June 2025 | Named to execute N‑2 registration statements and related filings |
| Nuveen Funds (Rule 17g‑1 filings) | Vice President and Secretary (signatory) | 2025 | Signed joint fidelity bond filings for the Nuveen complex |
Fixed Compensation
- Officers of the Funds serve without any compensation from the Funds; the Funds have no employees .
- The Funds’ CCO compensation is paid by the Adviser (Nuveen Fund Advisors) and the Funds reimburse an allocable portion of the CCO’s incentive compensation; no officer‑specific base salary/bonus amounts are disclosed at the Fund level .
- Portfolio manager compensation (not applicable to Czarniecki’s legal/secretarial role) comprises base salary, annual cash bonus tied to risk‑adjusted performance vs benchmark and Morningstar peer rankings over 1/3/5 years, plus long‑term performance awards vesting after three years and profits interests that vest over time .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Risk‑adjusted investment performance vs benchmark (PMs) | Not disclosed | Assessed over 1/3/5 years | Not disclosed | Not disclosed | 3‑year long‑term award; profits interests vest over time |
| Morningstar peer fund ranking (PMs) | Not disclosed | Assessed over 1/3/5 years | Not disclosed | Not disclosed | 3‑year long‑term award; profits interests vest over time |
| Management and peer reviews (PMs) | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
Note: The above compensation metrics apply to portfolio managers at Nuveen Asset Management and are not disclosed for Czarniecki’s officer role .
Equity Ownership & Alignment
- As of April 30, 2025, officers and trustees as a group beneficially owned less than 1% of any class of the Fund’s outstanding securities; individual officer holdings (including Czarniecki) are not separately disclosed .
- DEF 14A Appendix A provides beneficial ownership ranges for Board Members; officers are not listed individually by share count in the Fund’s proxy .
- No Section 16 ownership filings specific to Czarniecki were located for NAN; he is frequently empowered as attorney‑in‑fact to execute filings rather than reported as a beneficial owner . A recent Form 3 for NAN was for another officer (VP/Treasurer) and noted “No securities are beneficially owned” for that filer .
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Office & Tenure | Vice President and Assistant Secretary; Term—Indefinite; Length of Service—Since 2013 | |
| Compensation from Fund | Officers serve without compensation from the Fund | |
| Indemnification | Standard undertaking regarding indemnification under the Securities Act; SEC notes indemnification for liabilities arising under the Act is against public policy and unenforceable | |
| Power of Attorney | Named attorney‑in‑fact to execute N‑2 registration statements and amendments for trustees | |
| Severance/Change‑of‑Control | Not disclosed at Fund level; officers are employed by Adviser/Affiliates | |
| Clawback/Gross‑ups | Not disclosed at Fund level | |
| Non‑compete/Non‑solicit | Not disclosed at Fund level |
Investment Implications
- Pay‑for‑performance linkage is not assessable for Czarniecki at the Fund level: officers receive no Fund compensation and detailed compensation structures apply to portfolio managers, not legal/secretarial officers . This limits direct trading signals from compensation shifts.
- Insider selling pressure appears minimal: officers and trustees as a group hold <1% of NAN; no Czarniecki‑specific ownership or pledging disclosures were found, reducing near‑term selling/pledging risk signals .
- Retention risk looks low given long tenure (since 2013) and broad authority (POA designations, complex‑wide signatory roles), but severance/change‑of‑control economics are not disclosed at the Fund level—monitor Adviser‑level disclosures and any Item 5.02 8‑K filings for officer changes .
- Governance and operational oversight are robust via a unitary board and seven standing committees (Audit, Compliance, Investment, Dividend, Nominating & Governance, Executive, Closed‑End Funds). Czarniecki’s role supports compliance and filings across this structure; operational continuity is high, but investor alignment for officers relies on Adviser‑level policies rather than Fund equity stakes .