William Siffermann
About William Siffermann
William A. Siffermann is Vice President of Nuveen New York Quality Municipal Income Fund (NAN) and has served as an officer in the Nuveen fund complex since 2017; his principal occupation is Senior Managing Director at Nuveen . He is also listed as the Manager of Fund Board Relations and the point of contact for shareholder communications to the Board, indicating a governance-facing role across the complex . Year of birth: 1975 . Fund-level performance metrics (TSR, revenue/EBITDA growth) are not attributed to officers in the proxy and are not disclosed for Siffermann .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen New York Quality Municipal Income Fund (NAN) | Vice President | Since 2017 | Senior officer role supporting fund governance and operations within Nuveen fund complex . |
| Nuveen (parent of Adviser) | Senior Managing Director | Not disclosed | Senior leadership role at Nuveen; officers serve funds without compensation from the Funds . |
| Nuveen Fund Board Relations | Manager of Fund Board Relations | Not disclosed | Designated contact for shareholder communications to the Board and nominations process, underscoring governance and board liaison responsibilities . |
External Roles
- No external directorships or non-Nuveen roles disclosed for Siffermann in NAN’s latest proxy .
Fixed Compensation
- Officers receive no compensation from the Funds; compensation for the Funds’ Chief Compliance Officer is paid by the Adviser with partial reimbursement by the Funds, and other officers are uncompensated by the Funds .
| Component | FY Disclosure | Amount/Term |
|---|---|---|
| Base salary (Fund-paid) | Not applicable | Officers receive no compensation from the Funds . |
| Bonus/annual incentives (Fund-paid) | Not applicable | Officers receive no compensation from the Funds . |
| Adviser-paid compensation | Applicable | Paid by Adviser; amounts not disclosed in Fund proxy . |
| Perquisites/pension/SERP | Not disclosed | Funds do not have retirement or pension plans; officer perquisites not disclosed . |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for officers | — | — | — | — | — |
- No RSUs/PSUs/options or performance-linked awards are disclosed for officers of the Funds; officers serve without Fund-level compensation .
Equity Ownership & Alignment
| Item | Disclosure | Detail |
|---|---|---|
| Beneficial ownership (NAN) | Group level only | As of May 31, 2025, Board Members and officers as a group beneficially owned 0 shares of NAN . |
| Shares outstanding (NAN) | As of June 20, 2025 | 30,849,666 Common Shares; AMTP Series 2028: 1,270; VRDP Series 1: 890 . |
| Ownership % (group) | Computed from disclosures | 0% of NAN common shares (0 owned / 30,849,666 outstanding) . |
| Vested vs unvested | Not applicable | No equity award disclosures for officers in NAN . |
| Options (exercisable/unexercisable) | Not applicable | No options disclosed for officers . |
| Pledging/hedging | Not disclosed | No pledging or hedging disclosures for officers in proxy . |
| Ownership guidelines | Board only | Board Members are expected to invest at least one year of compensation in the Nuveen funds; officer ownership guidelines not disclosed . |
- Shareholder communications to the Board are directed to Siffermann, reinforcing his governance and alignment role rather than trading-related incentives .
Employment Terms
| Term | Disclosure | Detail |
|---|---|---|
| Start date in officer role | Disclosed | Length of service since 2017 (Vice President) . |
| Contract term/expiration | Disclosed | Officers elected annually; term indefinite until successors elected and qualified . |
| Severance/change-of-control | Not disclosed | No officer severance or CoC terms disclosed for Funds . |
| Non-compete/non-solicit | Not disclosed | No restrictions disclosed for officers in proxy . |
| Clawbacks/tax gross-ups | Not disclosed | Not addressed for officers in proxy . |
| Garden leave/consulting | Not disclosed | Not addressed in proxy . |
Performance & Track Record
- Board governance consolidation: In October 2023, the Nuveen fund complex consolidated boards to enhance efficiency and scale, aligning governance across funds; this reflects broader organizational execution rather than officer-specific KPIs .
- Officer-level performance metrics (TSR attribution, revenue/EBITDA growth) are not provided for closed-end fund officers in the proxy .
Compensation Committee Analysis
- The Nuveen funds utilize committees (Audit; Compliance, Risk Management and Regulatory Oversight; Investment; Nominating and Governance; Closed-End Funds) composed of Independent Board Members. Officer compensation is not set by a fund compensation committee, as officers are not compensated by the Funds .
Say-on-Pay & Shareholder Feedback
- Say-on-Pay voting is not applicable to closed-end fund officers; officer compensation is Adviser-paid and not subject to Fund shareholder vote . Shareholder proposals and communications are processed per by-laws and routed via Siffermann for Board correspondence .
Additional Insider Activity Context (Complex-Level)
- Siffermann has filed Form 4s reflecting transactions in other Nuveen closed-end funds (e.g., NMZ and NAD) in March 2025; these filings confirm his Section 16 reporting activity across the complex, though specific transactions for NAN are not indicated in the provided records .
Investment Implications
- Alignment: Officer-level alignment to NAN is limited by zero disclosed group beneficial ownership in NAN and the absence of Fund-paid compensation or equity awards; governance alignment is via Board liaison responsibilities rather than ownership incentives .
- Selling pressure: No NAN-specific insider selling pressure indicators; no options or vesting schedules disclosed for officers; observed Form 4 activity pertains to other Nuveen funds, not NAN .
- Retention risk: Tenure since 2017 with indefinite officer terms suggests continuity; severance/CoC protections are not disclosed, implying limited Fund-level obligations upon departure .
- Trading signals: With no officer equity awards, vesting schedules, or pledging disclosures tied to NAN, officer activity is unlikely to be a near-term trading catalyst for NAN; governance and committee oversight remain the primary levers affecting fund operations and distribution policy .