David Lamb
Chief Administrative Officer (Principal Executive Officer) at NUVEEN SELECT MATURITIES MUNICIPAL FUND
Executive
About David Lamb
David J. Lamb serves as Chief Administrative Officer (Principal Executive Officer) of Nuveen Select Maturities Municipal Fund (NIM), elected by the Board on an annual basis with an indefinite term and service since 2015; he was born in 1963 and is a Senior Managing Director at Nuveen and affiliated entities . Officers of the Funds, including the CAO, receive no compensation from the Funds, and the Funds have no employees; compensation for certain compliance roles is paid by the Adviser, with partial reimbursement by the Funds for incentive compensation, but officer-specific pay, performance metrics, TSR, revenue or EBITDA measures are not disclosed in Fund filings . Lamb signed SEC filings on behalf of the Fund, evidencing principal executive responsibilities .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Select Maturities Municipal Fund (NIM) | Vice President | 2015–2020 | Board-elected officer supporting fund administration; officers receive no compensation from the Fund . |
| Nuveen Select Maturities Municipal Fund (NIM) | Chief Administrative Officer (Principal Executive Officer) | 2021–present | Oversees administration and executes SEC filings; signs Fund reports . |
| Nuveen Fund Advisors, LLC | Managing Director; later Senior Managing Director | MD since 2019; SMD since 2021 | Senior leadership role across Fund Complex administration . |
| Nuveen Securities, LLC | Managing Director (2020–2021); Senior Managing Director (since 2021) | 2020–present | Senior leadership across distribution/compliance functions . |
| Nuveen (LLC) | Vice President (prior to 2006); Senior Vice President (2006–2017); Managing Director (2017–2021); Senior Managing Director (since 2021) | prior to 2006–present | Progressive executive oversight in investment company operations . |
External Roles
No external directorships or outside roles are disclosed for David J. Lamb in NIM’s proxy statements; filings list Nuveen/TIAA-affiliated positions only .
Fixed Compensation
- Officers receive no compensation from the Funds; the Funds have no employees .
- The Chief Compliance Officer’s compensation is paid by the Adviser and partially reimbursed by the Funds, but officer-specific salary, bonus targets, or cash/equity compensation for the CAO are not disclosed in Fund filings .
Performance Compensation
- No performance metrics (e.g., revenue growth, EBITDA, TSR) or incentive plan details are disclosed for Fund officers; board compensation schedules are detailed but not applicable to Lamb as an officer .
Equity Ownership & Alignment
| Item | Date | Detail |
|---|---|---|
| Section 16 Initial Statement (Form 3) | 02/24/2015 | “No securities are beneficially owned” by David J. Lamb at NIM . |
| Beneficial Ownership (aggregate) | 06/20/2025 (record date) | Board Members and officers as a group beneficially owned less than 1% of outstanding shares of each Fund . |
- Shares pledged as collateral: No pledging by officers disclosed in Fund filings .
- Ownership guidelines: Nuveen funds boards expect each Board Member (not officers) to invest at least one year of compensation in the Fund Complex to align interests; officers are not covered by these board guidelines .
Employment Terms
- Term and election: Officers are elected annually by the Board to serve until successors are elected and qualified; Lamb’s service is “since 2015” with an indefinite term .
- Employment relationship: The Funds have no employees; officers serve without compensation from the Funds and are employees of Nuveen and/or its affiliates .
- Employment agreements, severance, change-of-control, non-compete/non-solicit, garden leave, consulting: Not disclosed for Fund officers in NIM’s DEF 14A or related 8-K filings .
Investment Implications
- Alignment and selling pressure: Lamb reported no NIM beneficial ownership on his Form 3, and no subsequent Section 16 changes were identified, implying limited insider-selling pressure signals tied to his role .
- Pay-for-performance assessment: Officer compensation is at the Adviser level and not disclosed by the Fund, preventing linkage to Fund performance metrics (TSR, revenue/EBITDA); however, the lack of Fund-paid officer compensation mitigates closed-end Fund-level incentive misalignment risk .
- Retention risk: Indefinite officer term with long tenure since 2015 and annual Board election suggests low near-term retention risk within the Fund governance framework .
- Governance quality: Unitary independent Board structure with robust committee oversight (Audit, Compliance/Risk, Investment, Dividend, Nominating/Governance, Closed-End Fund Committee) provides structured risk oversight; Lamb’s CAO role is embedded within Nuveen’s enterprise controls and reporting processes .