Brian Lockhart
About Brian Lockhart
Brian J. Lockhart is Vice President of NMCO and Senior Managing Director and Head of Investment Oversight at Nuveen, with prior roles across Nuveen; he holds the CFA and FRM credentials and was born in 1974 . He has served as an officer in the Nuveen fund complex since 2019 (indefinite term), and NMCO’s officers serve without compensation from the fund itself; compensation for the Chief Compliance Officer is paid by the adviser with Board review . Fund-level executive performance metrics such as TSR, revenue or EBITDA growth are not disclosed in NMCO’s proxy materials, and the semiannual report states clawback provisions for “Recovery of Erroneously Awarded Compensation” are not applicable to the fund .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Senior Managing Director; Head of Investment Oversight | Since 2019 (officer tenure) | Oversees investment oversight across Nuveen funds; supports Board processes and fund performance oversight |
| Nuveen Fund Advisors, LLC | Senior Managing Director | Since 2019 (officer tenure) | Provides compliance, regulatory, administrative, and investment oversight services to Nuveen funds |
| Nuveen (prior positions) | Various positions | Not disclosed | Prior roles within Nuveen contributing to fund governance and oversight |
External Roles
No external directorships or committee roles for Brian J. Lockhart are disclosed in NMCO’s proxy materials .
Fixed Compensation
- Officers, including Brian J. Lockhart, receive no compensation from NMCO; officers are elected annually by the Board and serve without fund-paid compensation .
- The Fund’s Chief Compliance Officer compensation is paid by the Adviser (Nuveen) with Board input; other officer pay is not disclosed at the fund level .
Performance Compensation
Not disclosed for NMCO officers; the fund does not report individual officer incentive metrics (e.g., revenue growth, EBITDA, TSR) or equity award structures in proxy materials .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Individual beneficial ownership for Brian J. Lockhart | Not disclosed in NMCO proxy appendices; officers are not listed individually . |
| Officers and directors beneficial ownership (group) | Less than 1% of outstanding shares for each fund as of the record date; individual director holdings across funds are listed, but officer-specific holdings are not . |
| Recent Section 16 filings (context) | Example Form 3 for another officer (Robert Tanner, VP & Treasurer) reported “No securities are beneficially owned,” indicating some officers may hold no NMCO securities . |
| Pledging/Hedging | Not disclosed for Brian J. Lockhart in NMCO filings . |
| Ownership guidelines | Not disclosed for officers; Board members have a governance principle to invest at least one year of compensation across the fund complex (context for directors, not officers) . |
Employment Terms
| Term Element | Disclosure |
|---|---|
| Position | Vice President, NMCO |
| Employer | Nuveen / Nuveen Fund Advisors, LLC (officer serving Nuveen fund complex) |
| Start Year in Fund Complex | 2019 (Length of service as officer) |
| Term Length | Indefinite; officers are elected annually by the Board to serve until successors are elected and qualified |
| Compensation Source | Officers serve without compensation from the Funds; CCO compensation paid by Adviser |
| Severance / Change of Control | Not disclosed for officers in NMCO proxy |
| Non-compete / Non-solicit | Not disclosed |
Investment Implications
- Pay-for-performance visibility is limited: NMCO does not disclose officer-level base salary, bonus targets, or equity incentives for fund officers; officers are compensated by the Adviser, reducing direct fund-level pay alignment and limiting the ability to assess incentive risk or insider-selling pressure for Brian Lockhart .
- Ownership alignment appears low at the fund level: Officers and directors as a group own less than 1% of outstanding fund shares, and a recent Form 3 example for another officer reported no beneficial ownership—suggesting minimal direct insider exposure to NMCO price outcomes; no pledging or hedging disclosures are provided for Brian Lockhart .
- Retention and transition risk: Officers serve indefinite terms and are elected annually by the Board; no employment contract details (severance, change-of-control triggers) or non-compete provisions are disclosed, leaving limited insight into retention incentives or potential transition economics .
- Governance context: The Board maintains robust committee oversight (Audit; Compliance, Risk Management and Regulatory Oversight; Investment; Closed-End Fund Committee), and the Adviser provides extensive support on performance and risk oversight—indicating structural governance strength but without officer-specific incentive disclosures that would signal personal accountability levers for Brian Lockhart .