David J. Lamb
Chief Administrative Officer (Principal Executive Officer) at NUVEEN CALIFORNIA AMT-FREE QUALITY MUNICIPAL INCOME FUND
Executive
About David J. Lamb
David J. Lamb (born 1963) serves as Chief Administrative Officer and Principal Executive Officer of Nuveen California AMT‑Free Quality Municipal Income Fund (NKX), with tenure in the officer role since 2015 . He is a Senior Managing Director at Nuveen Fund Advisors, LLC, Nuveen Securities, LLC, and Nuveen, having previously held Managing Director and Senior Vice President roles across these entities, indicating long-standing operational leadership within the Nuveen complex . As NKX’s Chief Administrative Officer, he is the Fund’s chief executive and operating officer with general authority over its business and affairs, subject to the Board .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Fund Advisors, LLC | Managing Director | Since 2019 | Senior management responsibilities within Nuveen’s advisory operations |
| Nuveen Fund Advisors, LLC | Senior Managing Director | Since 2021 | Elevated leadership across Nuveen’s fund administration |
| Nuveen Securities, LLC | Managing Director | 2020–2021 | Senior role in Nuveen’s distribution subsidiary |
| Nuveen Securities, LLC | Senior Managing Director | Since 2021 | Senior leadership within Nuveen’s securities operations |
| Nuveen (parent entity) | Senior Vice President | 2006–2017 | Senior executive responsibilities across Nuveen enterprise |
| Nuveen (parent entity) | Managing Director | 2017–2021 | Continued senior management progression |
| Nuveen (parent entity) | Senior Managing Director | Since 2021 | Ongoing senior leadership across Nuveen |
| NKX (Fund) | Chief Administrative Officer (PEO) | Since 2015 | Chief executive/operating officer of the Trust |
External Roles
No external public company directorships or committee roles are disclosed in the Fund’s proxy materials for David J. Lamb .
Fixed Compensation
- Officers of the Funds, including the Chief Administrative Officer, receive no compensation from the Funds; officers are elected annually by the Board and serve until successors are elected and qualified .
- The compensation, if any, of all officers is fixed by the Trustees under the Fund’s by‑laws; no specific salary or bonus figures are disclosed for David J. Lamb at the Fund level .
| Component | Disclosure Status |
|---|---|
| Base Salary | Not disclosed by Fund; officers receive no compensation from the Funds |
| Target Bonus % | Not disclosed by Fund; officers receive no compensation from the Funds |
| Actual Bonus Paid | Not disclosed by Fund; officers receive no compensation from the Funds |
Performance Compensation
- No RSU/PSU or option awards, performance metrics, or payout details are disclosed at the Fund level for officers (officers receive no compensation from the Funds) .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for Fund officers | — | — | — | — | — |
Equity Ownership & Alignment
| Category | NKX Common Shares | Date |
|---|---|---|
| Officers as a Group Beneficial Ownership | 0 shares | As of October 22, 2025 |
- The proxy lists beneficial ownership for Board Members individually and for Board Members and officers as a group; for NKX, officers as a group reported zero shares, implying minimal direct fund-level alignment through ownership .
- Stock ownership guidelines, hedging, and pledging policies applicable to Fund officers are not disclosed in the proxy materials reviewed .
Employment Terms
- Appointment/term: Officers are appointed by the Trustees for terms continuing until successors are elected and qualified, or until resignation/removal; any officer may resign by written notice, effective as specified .
- Removal: The CAO, Controller, Vice Presidents, Treasurer, Secretary, and Chief Compliance Officer may be removed at any time, with or without cause, by majority vote of the Trustees present; other officers may be removed by the Chair, CAO, or Trustees .
- Role definition: The Chief Administrative Officer is the chief executive and operating officer of the Trust with general authority over its business and affairs, including authority to effect securities registrations; powers align to those assigned to the president under the Declaration of Trust .
- Compensation governance: Officer compensation, if any, is fixed by the Trustees; no employment contracts, severance, or change‑of‑control provisions are disclosed for the CAO .
Investment Implications
- Pay‑for‑performance alignment: With officers receiving no compensation from NKX and no disclosed Fund‑level incentive metrics, there is limited transparency into the CAO’s pay alignment with Fund performance from the Fund’s standpoint; any compensation would occur at Nuveen entities and is not disclosed in Fund filings .
- Insider selling pressure: Officers as a group reported zero common share ownership in NKX, suggesting minimal potential for insider selling pressure at the Fund level; absence of pledged shares reduces a key alignment red flag, though pledging/hedging policies are not disclosed for officers .
- Retention/transition risk: Officers serve at the pleasure of the Trustees and can be removed with or without cause, with no Fund‑level severance or change‑of‑control terms disclosed; this suggests governance flexibility but offers limited visibility into retention incentives tied to Fund outcomes .
- Execution role: As CAO/PEO, Lamb holds principal responsibility for NKX’s administration, operations, and filings subject to Board oversight; governance committees (comprised of independent Board Members) oversee investment performance, risk, compliance, and closed‑end fund market dynamics that indirectly shape execution expectations .