Tanner Page
About Tanner Page
R. Tanner Page serves as Vice President and Treasurer of Nuveen California Municipal Value Fund (NCA). Disclosed year of birth is 1985, with a principal occupation as Managing Director (formerly Vice President) at Nuveen; “has previously held various positions with Nuveen.” His term of office is indefinite, with length of service since 2025, and officers are elected annually by the Board . The Funds have no employees, and officers serve without compensation from the Funds; compensation (base salary and incentive) for the Funds’ Chief Compliance Officer is paid by the Adviser with partial reimbursement by the Funds, indicating officer compensation is not fund-level and thus not disclosed for Page in NCA filings .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Managing Director; formerly Vice President; various positions | Not disclosed; information as of October 22, 2025 | Senior leadership roles at Nuveen; specific responsibilities not detailed |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed | — | — | — |
Fixed Compensation
- Officers receive no compensation from the Funds; they are elected annually by the Board .
- The Funds have no employees. The CCO’s compensation (salary and incentive) is paid by the Adviser, with the Funds reimbursing an allocable portion of the CCO’s incentive compensation; no officer-level salary/bonus/option data is disclosed at the Fund level for Page .
Performance Compensation
- No fund-level disclosure tying officer pay to performance metrics (e.g., TSR, revenue/EBITDA growth) for Page. Officers serve without compensation from the Funds .
Equity Ownership & Alignment
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fund Shares Owned by Board Members and Officers as a Group – California Value (NCA) (shares) | 0 | 0 | 0 | 0 | 0 |
- As of October 22, 2025, each Board Member’s individual beneficial shareholdings of each Fund constituted less than 1% of outstanding shares; Board Members and executive officers as a group beneficially owned less than 1% of outstanding shares of each Fund .
- Board Member stock ownership guideline: expected to invest at least the equivalent of one year of compensation in funds across the Fund Complex; officer ownership guidelines, pledging, or hedging policies were not disclosed in NCA’s proxy .
Employment Terms
| Term Element | Disclosure |
|---|---|
| Position | Vice President and Treasurer |
| Term of Office | Indefinite |
| Length of Time Served | Since 2025 |
| Election Cadence | Officers are elected annually by the Board |
| Employment Start Date with Fund | 2025 |
| Severance / Change-of-Control | Not disclosed at the Fund level for officers |
| Non-compete / Non-solicit | Not disclosed |
| Garden Leave / Post-termination | Not disclosed |
Investment Implications
- Compensation alignment: Officer compensation is not paid by NCA and is not disclosed at the Fund level; pay-for-performance evaluation for Page must be inferred from Nuveen employment terms rather than Fund documents, limiting visibility into salary, bonus, equity, or performance metrics at the Fund level .
- Ownership alignment: No disclosed individual or group holdings in NCA, and group ownership consistently shows 0 shares over 2021–2025, indicating minimal direct “skin-in-the-game” in NCA from officers; while Board Members have a guideline to invest at least one year of compensation across the Fund Complex, no officer guideline is disclosed .
- Vesting/selling pressure: NCA filings do not disclose officer equity grants, vesting schedules, or insider transactions for Page; monitor Section 16 filings for any future activity. Officers serve without fund-level compensation, suggesting that any equity or cash incentives are determined by the Adviser (Nuveen) and not visible in NCA’s proxy .
- Retention/contract risk: Term is indefinite and officers are elected annually; absence of disclosed severance, change-of-control, or restrictive covenants at the Fund level means retention dynamics depend on Nuveen employment agreements, not the Fund .