David Lamb
About David Lamb
David J. Lamb serves as Chief Administrative Officer (Principal Executive Officer) of Nuveen Arizona Quality Municipal Income Fund (NAZ), with an indefinite term and service since 2015; he was born in 1963 and is a Senior Managing Director at Nuveen Fund Advisors, LLC, Nuveen Securities, LLC, and Nuveen . The NAZ proxy filings for officers do not disclose education or fund-linked performance metrics such as TSR, revenue growth, or EBITDA growth for Mr. Lamb; officer disclosures are limited to positions and principal occupations, and officers receive no compensation from the Funds .
Past Roles
| Organization | Role | Years | Source |
|---|---|---|---|
| Nuveen Fund Advisors, LLC | Managing Director (since 2019) | 2019–present | |
| Nuveen Fund Advisors, LLC | Senior Managing Director (role progression noted) | Since 2021 | |
| Nuveen Securities, LLC | Senior Managing Director (since 2021); formerly Managing Director (2020–2021) | 2020–present | |
| Nuveen (parent entity) | Senior Managing Director (since 2021); formerly Managing Director (2017–2021); Senior Vice President (2006–2017) | 2006–present |
External Roles
Not disclosed in NAZ proxy filings; officer tables list Nuveen-affiliated roles only and do not list external directorships or board memberships for Mr. Lamb .
Fixed Compensation
Officers receive no compensation from the Funds. NAZ proxies explicitly state that officers are elected annually by the Board and “receive no compensation from the Funds.” Compensation (if any) would be at Nuveen level and is not reported in NAZ filings .
| Item | Value/Disclosure | Source |
|---|---|---|
| Compensation from NAZ (cash/equity) | $0 (officers receive no compensation from the Funds) | |
| Election frequency | Officers elected annually by the Board | |
| Term of office | Indefinite (for officer positions) |
Performance Compensation
Not disclosed in NAZ filings. The proxy does not present bonus targets, performance metrics, RSU/PSU awards, option grants, or vesting schedules for officers; officers receive no compensation from the Funds, and any incentive pay at Nuveen is not reported here .
| Metric | Weighting | Target | Actual | Payout | Vesting | Source |
|---|---|---|---|---|---|---|
| Not disclosed in NAZ proxy | — | — | — | — | — |
Equity Ownership & Alignment
| Metric | Value | Source |
|---|---|---|
| Common shares outstanding (NAZ) | 11,590,365 | |
| Board Members’ individual beneficial holdings in NAZ | Each <1% of outstanding; dollar range table shows $0 per fund for listed Board Members | |
| Board Members and officers as a group holdings (NAZ) | 0 shares as of Sep 20, 2024 | |
| Officers’ individual NAZ holdings | Not individually disclosed; group total reported as 0 | |
| Pledging/hedging by officers | Not disclosed in NAZ proxy filings |
Notes:
- The boards adopted a governance principle expecting each Board Member to invest at least the equivalent of one year of compensation in the funds complex; this principle applies to Board Members, not officers. Officers’ ownership requirements or guidelines are not disclosed in NAZ filings .
Employment Terms
| Term Element | Disclosure | Source |
|---|---|---|
| Position | Chief Administrative Officer (Principal Executive Officer) | |
| Length of service | Since 2015 | |
| Term of office | Indefinite | |
| Election | Officers elected annually by the Board | |
| Employment agreement, severance, change-of-control | Not disclosed in NAZ filings | |
| Non-compete / non-solicit / garden leave | Not disclosed in NAZ filings | |
| Post-termination consulting | Not disclosed in NAZ filings |
Investment Implications
- Pay-for-performance alignment at NAZ is structurally limited for officers: they receive no compensation from the Fund, and NAZ does not disclose any officer-level cash or equity incentives, performance metrics, or vesting schedules. This implies traditional fund-level levers (bonus targets, PSUs/options) are not drivers for Mr. Lamb’s alignment with NAZ shareholders .
- Ownership alignment is minimal at the fund: as of Sep 20, 2024, Board Members and officers as a group held 0 NAZ shares, and individual Board Members’ beneficial ownership was <1% per fund; officers’ individual holdings are not disclosed. This reduces direct economic alignment with NAZ’s public shareholders and suggests limited insider selling pressure directly tied to NAZ .
- Retention risk and compensation economics reside at Nuveen (the adviser) rather than NAZ: employment terms, severance, and CoC provisions for Mr. Lamb are not in NAZ filings, indicating that any retention or incentive dynamics are managed at the adviser level and outside NAZ’s public disclosures .
- Governance context: officer oversight is via the Board (officers elected annually; indefinite terms). Committee oversight of fund performance, leverage, and derivatives occurs at the Board level, but these disclosures do not create officer-specific trading signals or compensation metrics for Mr. Lamb within NAZ .