Mark J. Czarniecki
About Mark J. Czarniecki
Mark J. Czarniecki (Year of birth: 1979) serves as Vice President and Assistant Secretary of Nuveen Dynamic Municipal Opportunities Fund (NDMO); his term is indefinite and he has served since 2013. His principal occupations over the past five years include Managing Director and Assistant Secretary roles at Nuveen Securities, LLC and Nuveen Fund Advisors, LLC; Managing Director and Associate General Counsel at Nuveen; and Managing Director, Assistant Secretary, and Associate General Counsel at Nuveen Asset Management, LLC; he also holds Associate General Counsel/Assistant Secretary roles at Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC . He also signs Nuveen funds complex filings as Vice President and Secretary (e.g., joint fidelity bond submissions) . NDMO performance context: as of April 30, 2025, NDMO’s 6-month total return was -2.14% (NAV) and -4.18% (price), 1-year was 3.02% (NAV) and -0.49% (price); daily premium/(discount) to NAV was -5.53% .
NDMO Fund Performance Snapshot
| Metric | 10/31/2020 | 10/31/2021 | 10/31/2022 | 10/31/2023 | 10/31/2024 | 4/30/2025 |
|---|---|---|---|---|---|---|
| Common Share Total Return (NAV) | -0.02% | 10.77% | -28.77% | 1.96% | 20.99% | -2.14% |
| Common Share Total Return (Price) | 0.51% | 10.47% | -35.09% | 4.45% | 26.01% | -4.18% |
| Net Assets ($000) | $846,790 | $913,547 | $615,154 | $583,504 | $660,631 | $624,854 |
| Expense Ratio (%) | 0.89% | 1.55% | 2.07% | 2.76% | 2.99% | 2.92% (annualized) |
| Net Investment Income Ratio (%) | 1.06% | 3.02% | 3.78% | 3.97% | 4.08% | 4.44% (annualized) |
| Portfolio Turnover (%) | 4% | 63% | 61% | 79% | 81% | 26% |
| Daily Metrics (as of Apr 30, 2025) | Value |
|---|---|
| Common Share NAV | $10.49 |
| Common Share Price | $9.91 |
| Premium/(Discount) to NAV | -5.53% |
| Effective Leverage | 42.07% |
| Regulatory Leverage | 40.17% |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Securities, LLC | Managing Director and Assistant Secretary | Past 5 years; at Nuveen since 2013 | Not disclosed |
| Nuveen Fund Advisors, LLC | Managing Director and Assistant Secretary | Past 5 years; at Nuveen since 2013 | Not disclosed |
| Nuveen (corporate) | Managing Director and Associate General Counsel | Past 5 years; at Nuveen since 2013 | Not disclosed |
| Nuveen Asset Management, LLC | Managing Director, Assistant Secretary and Associate General Counsel | Past 5 years | Not disclosed |
| Teachers Advisors, LLC | Managing Director, Associate General Counsel and Assistant Secretary | Past 5 years | Not disclosed |
| TIAA-CREF Investment Management, LLC | Managing Director, Associate General Counsel and Assistant Secretary | Past 5 years | Not disclosed |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Not disclosed | — | — | The proxy lists officer roles but does not disclose external public company directorships for Czarniecki . |
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Fund-level officer compensation | Not applicable | “Officers receive no compensation from the Funds.” Officers are elected annually and serve until successors are elected and qualified . |
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — | — |
The proxy does not disclose any fund-level incentive plans, performance metrics, or vesting schedules for officers; officers are employees of Nuveen/TIAA affiliates and are not compensated by the Fund .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Individual officer share holdings (NDMO) | Not individually disclosed for Czarniecki . |
| Officers and Board Members as a group – NDMO shares | 0 shares in NDMO (as of May 31, 2025) . |
| Pledging/hedging | Not disclosed in proxy for officers . |
| Stock ownership guidelines (officers) | Not disclosed in proxy . |
Employment Terms
| Term | Detail |
|---|---|
| Position | Vice President and Assistant Secretary (NDMO) ; also signs complex filings as Vice President and Secretary . |
| Term of Office | Indefinite; officers elected annually to serve until successors are elected and qualified . |
| Length of Service | Since 2013 (officer in Nuveen fund complex) . |
| Location | 901 Marquette Avenue, Minneapolis, MN 55402 . |
| Severance / Change-of-Control | Not disclosed at fund level . |
| Non-compete / Non-solicit | Not disclosed . |
| Clawbacks / Tax gross-ups | Not disclosed . |
Investment Implications
- Alignment: Fund-level officer pay is not disclosed and officers receive no compensation from the Fund; combined group holdings show zero NDMO shares, suggesting limited direct fund-level ownership alignment for officers and board members as a group in NDMO .
- Retention risk: Indefinite term with annual election and 12+ years of service since 2013 indicates continuity; multiple legal/secretary roles across Nuveen/TIAA entities suggest institutional embeddedness rather than fund-specific employment contracts; severance/CoC terms not disclosed .
- Trading signals: NDMO traded at a -5.53% discount to NAV as of April 30, 2025; 6-month return was negative on both NAV (-2.14%) and price (-4.18%), while 1-year NAV return turned positive (3.02%); leverage remains high (Effective 42.07%, Regulatory 40.17%), making returns sensitive to rate paths and credit spreads .
- Governance/process: Czarniecki’s signature on 40‑17G joint fidelity bond filings underscores his role in fund complex governance administration (Vice President and Secretary), a back-office control function rather than portfolio decision-making—compensation levers tied to fund performance are not evidenced at the fund officer level .