Albin Moschner

About Albin F. Moschner

Independent Board Member of Nuveen California Municipal Value Fund (NCA), born 1952, serving across the Nuveen fund complex since 2016. Founder/CEO of Northcroft Partners with prior C‑suite roles in telecom and consumer electronics; degrees in Electrical Engineering from The City College of New York (B.E., 1974) and Syracuse University (M.S., 1979) . He is deemed an “Independent Board Member” under the 1940 Act; at NCA he is a Class III Board Member with a term expiring at the 2027 annual meeting; for funds with preferred shares he serves one‑year terms (nominee through 2026) .

Past Roles

External Roles

Board Governance

• Independence: All board members, including Moschner, are not “interested persons” under the 1940 Act; deemed “Independent Board Members” .
• Term and service: Class III Board Member at NCA with term expiring 2027; trustee since 2016 across fund complex; for funds with preferred shares, elected annually (nominee through 2026) .
• Committee assignments:
  • Compliance, Risk Management and Regulatory Oversight Committee – Member
  • Nominating and Governance Committee – Member
  • Investment Committee – Member
  • Closed-End Fund Committee – Chair
• Attendance: Each Board Member attended at least 75% of board and committee meetings in the last fiscal year .
• Meeting cadence (NCA – last fiscal year):
  • Regular Board: 6; Special Board: 9; Executive Committee: 3; Dividend Committee: 8; Compliance Committee: 4; Audit Committee: 13; Nominating & Governance: 6; Investment: 3; Closed-End Funds: 4 .

Fixed Compensation

• Compensation schedule (effective Jan 1, 2025):
  • Annual retainer: $350,000 (Independent Board Members)
  • Committee membership retainers: Audit $35,000; Compliance $35,000; Investment $30,000; Dividend $25,000; Nominating & Governance $25,000; Closed-End Funds $25,000
  • Chair retainers: Board Chair $150,000; Audit Chair $35,000; Compliance Chair $35,000; Investment Chair $30,000; Dividend/Nominating/Closed-End Chairs $25,000
  • Ad hoc meetings and special assignment fees per chartered schedule

• Actual paid (last fiscal year):
  • Total compensation from Nuveen funds (Fund Complex): $481,250 for Moschner
  • Aggregate compensation paid by NCA (California Value): $830 for Moschner (fund’s allocated share)

Performance Compensation

Other Directorships & Interlocks

Expertise & Qualifications

• Technical/operational: Senior operating roles at Leap Wireless; leadership in consumer electronics at Zenith; telecom payments and card services experience at Verizon .
• Governance: Prior public company chairmanship; multiple board tenures; fund governance committee membership and chair roles within Nuveen complex .
• Education: B.E. Electrical Engineering (City College of New York, 1974); M.S. Electrical Engineering (Syracuse University, 1979) .

Equity Ownership

• Ownership guidelines: Board members expected to invest at least one year’s compensation in Nuveen funds (direct or deferred) .
• Beneficial ownership at NCA: 0 shares for Moschner as of Oct 22, 2025; shares outstanding at NCA: 33,108,195; ownership % computed: ~0.00% (0 ÷ 33,108,195) .
• Aggregate range across fund complex: “Over $100,000” for Moschner (range category) .
• Pledging/hedging: No pledging or hedging disclosures noted for Moschner; Section 16(a) compliance affirmed for last fiscal year .
• Insider trades: No Form 4 insider transactions found for Moschner from 2024‑01‑01 to 2025‑12‑31 (insider-trades skill query; date range and person filter).

Governance Assessment

• Strengths

  • Independent status with robust committee engagement; chairs Closed‑End Fund Committee, indicating active oversight of discounts, leverage and secondary market dynamics relevant to Nuveen closed‑end funds .
  • Attendance meets threshold (≥75%) across board and committee meetings; consistent participation supports board effectiveness .
  • Deep operating background in telecom and electronics plus prior public company chair role, adding strategic and operational perspective to fund governance .

• Watch items

  • NCA share ownership is zero, though the board guideline applies to aggregate investment across the complex (Moschner’s aggregate is “Over $100,000”); without precise dollar disclosure, alignment relative to one‑year compensation cannot be fully assessed .
  • Director compensation schedule increased effective 1/1/2025 (higher committee/chair retainers), which may elevate fixed governance costs; monitor for pay‑for‑responsibility rationale and meeting workloads (Appendix C shows significant meeting activity) .

• Conflicts/related‑party

  • No related‑party transactions disclosed for Moschner; board lists of holdings in adviser‑related private vehicles do not include Moschner .
  • Section 16(a) compliance affirmed; no delinquent filings noted .

Appendix: NCA Board & Committee Activity (last fiscal year)

Notes:

• All committee descriptions, charters, and membership are detailed in the 2025 DEF 14A; Moschner serves on Compliance, Nominating & Governance, Investment, and chairs Closed‑End Funds Committee .
• Compensation tables show both the standardized schedule and actual paid amounts; NCA allocates a small share of total director fees given the unitary board model across the fund complex .