Mark Czarniecki
About Mark Czarniecki
Mark J. Czarniecki serves as Vice President and Assistant Secretary for Nuveen Select Maturities Municipal Fund (NIM), with service in the Nuveen fund complex since 2013; he was born in 1979 and holds senior legal and secretary roles across Nuveen affiliates (Nuveen Securities, Nuveen Fund Advisors, Nuveen Asset Management) and TIAA affiliates (Teachers Advisors, LLC; TIAA-CREF Investment Management, LLC) . He executes and certifies fund governance and regulatory documents, including management agreement continuances/amendments (May 1, 2024) and Nuveen’s joint fidelity bond filings (2025–2026) . Officers receive no compensation from the Fund; compensation and benefits are not disclosed at the Fund level .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Fund Advisors, LLC | Managing Director; Assistant Secretary | 2013–present | Legal/secretary oversight for funds; executes management agreement continuances/amendments |
| Nuveen Securities, LLC | Managing Director; Assistant Secretary | 2013–present | Fund governance and regulatory filings support |
| Nuveen (parent) | Managing Director; Associate General Counsel | 2013–present | Complex-wide legal coverage across Nuveen funds |
| Nuveen Asset Management, LLC | Managing Director; Assistant Secretary; Associate General Counsel | 2013–present | Legal and assistant secretary functions for portfolio management entities |
| Nuveen Funds (complex) | Vice President and Secretary (fidelity bond filings) | 2025 | Signs Rule 17g‑1 fidelity bond documentation for April 1, 2025–April 1, 2026 coverage |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Teachers Advisors, LLC | Associate General Counsel; Assistant Secretary | 2013–present | Legal/secretary roles supporting TIAA-advised funds |
| TIAA‑CREF Investment Management, LLC | Associate General Counsel; Assistant Secretary | 2013–present | Legal/secretary roles across TIAA mutual funds |
Fixed Compensation
Officers receive no compensation from the Fund; base salary, bonus, and perquisites for Czarniecki (as a Nuveen/TIAA employee) are not disclosed at the Fund level .
| Component | 2024 | 2025 |
|---|---|---|
| Base salary (from NIM) | Not paid by Fund | Not paid by Fund |
| Target bonus % (Fund-level) | Not applicable | Not applicable |
| Actual bonus paid (Fund-level) | Not applicable | Not applicable |
| Perquisites (Fund-level) | Not disclosed | Not disclosed |
Performance Compensation
No Fund-level incentive or equity awards are disclosed for officers; therefore, no performance metrics, weighting, targets, or vesting details are reported at NIM .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| None (officers receive no compensation from Fund) | N/A | N/A | N/A | N/A | N/A |
Equity Ownership & Alignment
Funds disclose beneficial ownership for Board Members and “Board Members and officers as a group,” but do not provide individual officer holdings. As of June 13, 2024, Board Members and executive officers as a group beneficially owned less than 1% of outstanding shares of each Fund in the complex . Group holdings in NIM (Select Maturities) were reported as zero at the two most recent proxy snapshots .
| Ownership Metric | 2024 | 2025 |
|---|---|---|
| Group beneficial ownership of NIM shares (%) | <1% of outstanding shares | Not separately disclosed |
| All Board Members & Officers as a Group – Shares in NIM (Select Maturities) | 0 (May 31, 2024) | 0 (May 31, 2025) |
- Board ownership guideline (for directors): each Board Member is expected to invest at least the equivalent of one year of compensation in funds across the complex; this guideline does not specify officer requirements .
Employment Terms
| Term | Details |
|---|---|
| Title(s) | Vice President and Assistant Secretary (NIM; Nuveen fund complex); Vice President and Secretary in 40‑17G filings |
| Term of office | Indefinite; officers are elected annually by the Board and serve until successors are elected and qualified |
| Length of service | Since 2013 (Nuveen fund complex) |
| Compensation source | Officers receive no compensation from the Fund (compensation not disclosed at Fund level) |
| Key governance actions | Signed continuance/amendment of management agreements (effective May 1, 2024); signed joint fidelity bond filings for 2025–2026 |
Investment Implications
- Pay-for-performance alignment at the Fund level appears limited: NIM discloses that officers receive no compensation from the Fund and does not report officer-level performance metrics, equity awards, or vesting tied to NIM outcomes .
- Direct “skin-in-the-game” is de minimis at the group level, with Board Members and officers as a group owning less than 1% of outstanding shares, and zero group shares reported for NIM (Select Maturities) in both 2024 and 2025 snapshots .
- Retention and continuity signal: long service in legal/secretary roles since 2013 and ongoing execution of regulatory and governance filings (management agreements; fidelity bonds) suggest operational stability and embedded institutional knowledge, rather than incentive-driven trading or payout risk .
- Trading signals: with no Fund-level compensation, equity grants, or vesting schedules disclosed for officers, there is no apparent insider selling pressure linked to vesting or award monetization at NIM; individual officer transactions are not detailed in the proxy and were not identified in recent filings reviewed .