Albin Moschner
About Albin F. Moschner
Independent Board Member of Nuveen AMT-Free Quality Municipal Income Fund (NEA); born 1952, joined the Board in 2016. Founder/CEO of Northcroft Partners, LLC (since 2012); prior executive roles include COO and CMO at Leap Wireless, President at Verizon Card Services, President at One Point Communications, and CEO of Zenith Electronics; earlier served as Vice President of the Board at Diba, Inc. Education: B.E. in Electrical Engineering (City College of New York, 1974) and M.S. in Electrical Engineering (Syracuse University, 1979) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Northcroft Partners, LLC | Founder & CEO | 2012–Present | Management consulting; operational, management, and governance solutions . |
| Leap Wireless International, Inc. | COO; CMO; Consultant | COO 2008–2011; CMO 2004–2008; Consultant 2011–2012 | Consumer wireless services . |
| Verizon Communications, Inc. | President, Verizon Card Services | 2000–2003 | Consumer credit services under telecom umbrella . |
| One Point Communications | President, One Point Services | 1999–2000 | Telecom services . |
| Zenith Electronics Corporation | CEO; President & COO; various executive roles | CEO 1995–1996; President & COO 1994–1995; executive roles 1991–1996 | Consumer electronics leadership . |
| Diba, Incorporated | Vice President of the Board | 1996–1997 | Internet technology provider . |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| USA Technologies, Inc. | Chairman (2019); Director | 2012–2019 | Electronic payments solutions provider . |
| Wintrust Financial Corporation | Director | 1996–2016 | Regional banking; governance oversight . |
| Kellogg School of Management (Advisory Board) | Member; Emeritus | 1995–2018; Emeritus since 2018 | Academic advisory role . |
| Archdiocese of Chicago Financial Council | Advisory Board Member | 2012–2018 | Financial governance . |
Board Governance
- Independence: Classified as an Independent Board Member; not an “interested person” of the Fund or Adviser and has never been an employee/director of TIAA/Nuveen or affiliates .
- Committee assignments (2025): Chair, Closed-End Fund Committee; Member, Investment Committee; Member, Nominating & Governance Committee; Member, Compliance, Risk Management & Regulatory Oversight Committee .
- Audit Committee: Member in 2024 (Audit Committee held 14 meetings); not listed as a member in the 2025 proxy .
- Attendance: Each Board Member attended ≥75% of Board and applicable committee meetings during the last fiscal year .
- Term/Classification: Serves as a Class III Board Member for certain funds; for Preferred shares at NEA, nominated/elected by preferred holders for one-year terms (consistent with closed-end MFP structures) .
| NEA (AMT-Free Quality) – Meeting Counts (Last Fiscal Year) | Count |
|---|---|
| Regular Board Meetings | 4 |
| Special Board Meetings | 8 |
| Executive Committee Meetings | 4 |
| Dividend Committee Meetings | 10 |
| Compliance Committee Meetings | 6 |
| Audit Committee Meetings | 14 |
| Nominating & Governance Meetings | 5 |
| Investment Committee Meetings | 4 |
| Closed-End Fund Committee Meetings | 4 |
Fixed Compensation
| Component | Effective Date | Amount |
|---|---|---|
| Annual retainer (Independent Board Members) | Jan 1, 2025 | $350,000 |
| Committee retainer – Audit | Jan 1, 2025 | $35,000 |
| Committee retainer – Compliance, Risk Mgmt & Regulatory Oversight | Jan 1, 2025 | $35,000 |
| Committee retainer – Investment | Jan 1, 2025 | $30,000 |
| Committee retainer – Dividend; Nominating & Governance; Closed-End Funds | Jan 1, 2025 | $25,000 each |
| Chair premium – Board | Jan 1, 2025 | $150,000 |
| Chair premium – Audit; Compliance | Jan 1, 2025 | $35,000 |
| Chair premium – Investment | Jan 1, 2025 | $30,000 |
| Chair premium – Dividend; Nominating & Governance; Closed-End | Jan 1, 2025 | $25,000 |
| Ad hoc meeting fee | 2025 | $1,000 or $2,500 per meeting depending on length/immediacy |
| Special assignment committee fees | 2025 | Chair/Co-Chair quarterly from $1,250; members quarterly from $5,000 |
| Prior structure (2024) – Annual retainer | Jan 1, 2024 | $350,000; committee retainers: Audit/Compliance $30,000; Investment $20,000; Dividend/Nominating/Closed-End $20,000; Chair premiums: Board $140,000; Audit/Compliance $30,000; Investment $20,000; Dividend/Nominating/Closed-End $20,000; ad hoc fees $1,000–$2,500 |
| Historical (2023) – Annual retainer | Calendar 2023 | $210,000 plus per-meeting fees (e.g., Board $7,250 per day, Special Board $4,000, Audit/Closed-End/Investment $2,500, Compliance $5,000, Dividend $1,250, other committees $500) |
| Compensation Received – NEA (Fund-specific) | Last Fiscal Year (2024 proxy) | Last Fiscal Year (FY ended Oct 31, 2024 per 2025 proxy) |
|---|---|---|
| Aggregate compensation from NEA paid to Albin F. Moschner | $18,053 | $17,158 |
| Total Compensation from Nuveen Funds (Fund Complex) | 2024 Proxy | 2025 Proxy |
|---|---|---|
| Amount paid to Albin F. Moschner across all funds | $462,350 | $481,250 |
Performance Compensation
| Metric | Structure | Notes |
|---|---|---|
| Performance-based cash bonus | None | Independent Directors receive retainers and fixed committee/ chair fees; no bonus metrics . |
| Equity/Option awards | None | No stock options or RSU/PSU grants for Fund Directors . |
| Deferred compensation | Elected deferral of cash fees | Value tracks selected Nuveen funds on a book-reserve basis; distributions elected as lump sum or over 2–20 years; no performance targets or vesting . |
Other Directorships & Interlocks
| Company | Role | Potential Interlock/Exposure |
|---|---|---|
| USA Technologies, Inc. | Chairman (2019); Director (2012–2019) | Payments technology; no disclosed related-party transactions with NEA/Nuveen . |
| Wintrust Financial Corporation | Director (1996–2016) | Banking; no disclosed related-party transactions with NEA/Nuveen . |
- No disclosure of Moschner owning securities in companies under common control with NEA’s adviser in the related-party table (example shown for another director, Thomas J. Kenny) .
Expertise & Qualifications
- Industry/functional expertise: Wireless and telecom operations; consumer electronics leadership; marketing and operating executive experience; management consulting; board governance .
- Financial governance: Designated “audit committee financial expert” in 2024 while serving on the Audit Committee .
- Education: B.E. (CCNY, 1974) and M.S. (Syracuse, 1979), Electrical Engineering .
Equity Ownership
| Fund | Shares Beneficially Owned by Albin F. Moschner |
|---|---|
| NEA (AMT-Free Quality) | 0 |
| Municipal High Income | 7,136 |
- Aggregate dollar range of equity securities across all Nuveen registered investment companies overseen: Over $100,000 .
- Identity-of-interest guideline: Nuveen boards expect each Board Member to invest, directly or on a deferred basis, at least one year of compensation in funds in the Fund Complex; individual beneficial shareholdings of each Fund were <1% of outstanding shares as of June 20, 2025 .
Governance Assessment
- Strengths: Long-tenured independent director (since 2016) with diverse operating background; serves as Chair of the Closed-End Fund Committee overseeing key issues for CEF investors (discounts/premiums, leverage, repurchases), indicating active engagement in market-facing governance topics; attendance ≥75% across Board/committee meetings; clear independence from Adviser/TIAA/Nuveen .
- Compensation structure: Transparent, retainer-based with defined committee and chair premiums; shift from per-meeting fees (2023) to higher fixed retainers (2024/2025) reduces at-risk pay but aligns with increased workload across multi-fund complex; ability to defer fees into Nuveen funds improves alignment, though not performance-based .
- Ownership alignment: NEA-specific holdings are 0 shares, but Moschner holds 7,136 shares in another Nuveen municipal fund and exceeds $100,000 aggregate fund family holdings; conforms to board investment guideline; ownership remains <1% of any single fund, limiting direct economic exposure to NEA’s share-price dynamics .
- Potential conflicts/RED FLAGS: No related-party transactions or pledging/hedging disclosures involving Moschner; no tax gross-ups, severance, or equity repricing concerns applicable to Director pay. Committee leadership on Closed-End funds is a positive for investor confidence given oversight of discounts, leverage, and buybacks .