Brian Lockhart
About Brian Lockhart
Brian J. Lockhart (born 1974) serves as a Vice President of the Nuveen funds, including NIM, with an indefinite term and service since 2019; he is Senior Managing Director and Head of Investment Oversight at Nuveen and Senior Managing Director of Nuveen Fund Advisors, LLC, and holds the Chartered Financial Analyst (CFA) and Certified Financial Risk Manager (FRM) credentials . Officers of the Funds are elected annually by the Board to serve until successors are elected and qualified, and they receive no compensation directly from the Funds; compensation of the Chief Compliance Officer is paid by the Adviser with Board input . Fund-level performance metrics tied to Mr. Lockhart’s role (e.g., TSR, revenue, EBITDA) are not disclosed in the proxy materials; investment oversight groups he leads provide quarterly performance and risk reports to the Board’s Investment Committee .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Senior Managing Director; Head of Investment Oversight | Since Sep 2017 | Leads investment oversight; Nuveen’s investment oversight and investment risk groups provide quarterly performance/risk reports to the Investment Committee of the Funds’ Boards . |
| Nuveen Fund Advisors, LLC | Senior Managing Director | Since 2021 | Senior management of the fund adviser within the Nuveen/TIAA complex . |
| Nuveen | Managing Director | 2017–2021 | Senior leadership positions prior to promotion to Senior Managing Director . |
| Nuveen | Vice President | 2010–2017 | Progression through investment management roles . |
| Nuveen | Team Leader, Manager Oversight | 2015–2017 | Led manager oversight function within Nuveen . |
External Roles
None disclosed in the proxy filings for Mr. Lockhart .
Fixed Compensation
- Officers of the Funds receive no compensation from the Funds; the CCO’s base salary and incentive compensation are paid by the Adviser, with reimbursement for allocable incentive costs to the Funds .
Performance Compensation
- Not disclosed for Mr. Lockhart; as a Fund officer, compensation is not paid by the Funds and is not detailed in NIM’s proxy .
Equity Ownership & Alignment
| Metric | NIM Value | Notes |
|---|---|---|
| Group beneficial ownership in NIM (Select Maturities) — Board Members and Officers as a group (shares) | 0 | Appendix A shows group holdings by fund; “Select Maturities” corresponds to NIM in the joint proxy . |
| Ownership as % of shares outstanding | Less than 1% for each individual Board Member; group less than 1% for each Fund | As of June 20, 2025 . |
| Shares pledged as collateral | Not disclosed for officers | No pledging disclosures for officers in the proxy . |
| Stock ownership guidelines | Board governance principle expects each Board Member to invest at least one year of compensation in the Fund Complex | Applies to Board Members; not specified for officers . |
Employment Terms
| Term | Detail |
|---|---|
| Position | Vice President of the Funds |
| Term of Office | Indefinite; officers elected annually by the Board to serve until successors are elected and qualified |
| Length of Time Served | Since 2019 |
| Compensation from Funds | None (officers serve without compensation from the Funds) |
| Credentials | Chartered Financial Analyst (CFA); Certified Financial Risk Manager (FRM) |
| Business Address | 333 West Wacker Drive, Chicago, IL 60606 |
Investment Implications
- Compensation alignment and trading signals: As a Fund officer, Mr. Lockhart’s compensation is not paid by NIM and is not disclosed in NIM’s proxy, limiting pay-for-performance analysis and insider-selling signal assessment at the fund level; officers and Board Members collectively hold less than 1% of fund shares and show zero group holdings for NIM, suggesting minimal direct equity alignment within NIM itself .
- Retention and contracts: No employment agreement, severance, or change‑of‑control terms are disclosed for Mr. Lockhart in NIM’s proxy; retention risk and incentives are driven by Nuveen/TIAA employment arrangements that are outside fund filings .
- Governance and execution risk context: Mr. Lockhart leads Nuveen’s investment oversight; these groups provide quarterly performance/risk reporting to the Investment Committee, which oversees fund performance drivers, leverage, and hedging—important for NIM’s risk posture, though individual executive performance metrics are not disclosed .
- Compliance: Funds report compliance with Section 16(a) filings for Board Members and officers in the last fiscal year, reducing regulatory red‑flag risk indications from delinquent insider reports .