Mark L. Winget
About Mark L. Winget
Mark L. Winget serves as Vice President and Secretary of Nuveen Municipal Income Fund, Inc. (NMI) and has held officer roles across the Nuveen/TIAA fund complex since 2008; his year of birth is listed as 1968, and his principal responsibilities center on legal, governance, and corporate secretary functions for the Funds . He is identified as Vice President and Assistant Secretary of Nuveen Securities, LLC and Nuveen Fund Advisors, LLC; Vice President, Associate General Counsel and Assistant Secretary of Teachers Advisors, LLC and TIAA‑CREF Investment Management, LLC and Nuveen Asset Management, LLC; and Vice President and Associate General Counsel of Nuveen . Fund performance context during his tenure (closed‑end fund level) shows, as of April 30, 2025, NMI total returns of 3.37% (1‑year) at NAV and 10.96% (1‑year) at market price, with 5‑year NAV 2.22% and 10‑year NAV 2.44%; 6‑month NAV return was −1.05% as of that date . Officers of the Funds receive no compensation from the Funds (compensation is paid by the Adviser, with certain CCO incentive cost reimbursements), so there is no disclosed pay‑for‑performance linkage at the Fund level for Mr. Winget .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Municipal Income Fund, Inc. (NMI) | Vice President and Secretary | Officer since 2008; term indefinite, elected annually | Corporate secretary and governance, filings, and legal administration for the Fund complex . |
| Nuveen Securities, LLC | Vice President and Assistant Secretary | Past 5 years (as disclosed) | Legal and compliance oversight for distribution and fund operations within Nuveen . |
| Nuveen Fund Advisors, LLC | Vice President and Assistant Secretary | Past 5 years (as disclosed) | Fund adviser governance and corporate secretary support . |
| Nuveen Asset Management, LLC | Vice President, Associate General Counsel and Assistant Secretary | Past 5 years (as disclosed) | Legal support for asset management entities within the complex . |
| Teachers Advisors, LLC | Vice President, Associate General Counsel and Assistant Secretary | Past 5 years (as disclosed) | Legal oversight in affiliated adviser entities (TIAA complex) . |
| TIAA‑CREF Investment Management, LLC | Vice President, Associate General Counsel and Assistant Secretary | Past 5 years (as disclosed) | Legal and governance across TIAA investment management . |
| Nuveen (parent) | Vice President and Associate General Counsel | Past 5 years (as disclosed) | Senior legal responsibilities across Nuveen complex . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Joint Proxy for multiple Nuveen Funds | Appointed proxy holder (with McCarthy and McCann) | 2024–2025 proxy cycles | Authorized to vote proxies and manage annual meeting logistics across Nuveen closed‑end funds . |
| NMI regulatory filings (agent/service & signatory) | Agent for service; POA signatory on Forms | 2024–2025 | Agent for service in N‑CSR; power‑of‑attorney signatory for officer Form 3 filings (e.g., Tanner, Cardella, Nelson) . |
Fixed Compensation
Officers receive no compensation from the Funds; compensation is paid by the Adviser. The Funds reimburse the Adviser for an allocable portion of the Adviser's cost of the CCO's incentive compensation; no individual officer cash compensation (salary/bonus) is disclosed at the Fund level .
| Compensation Element | Disclosure (Fund Level) | Notes |
|---|---|---|
| Base salary | Not paid by Fund; not disclosed | Officers receive no compensation from the Funds; compensation is paid by the Adviser . |
| Target bonus % | Not paid by Fund; not disclosed | No fund‑level bonus program disclosed for officers . |
| Actual bonus paid | Not paid by Fund; not disclosed | No officer cash paid by Fund . |
| Perquisites | Not disclosed | Fund does not disclose officer perquisites; officers are not paid by the Fund . |
Performance Compensation
No equity or performance awards are disclosed or paid by NMI to officers; compensation (if any) is paid by the Adviser and not reported in the Fund’s proxy for officers. As such, there are no Fund‑level metrics, weightings, targets, payouts, or vesting details tied to Mr. Winget within NMI .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| None disclosed at Fund level for officers | — | — | — | — | — |
| Officers receive no compensation from Funds | — | — | — | — | — |
| Compensation paid by Adviser (not disclosed in Fund proxy) | — | — | — | — | — |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership (Fund common shares) | 0 shares reported on Mr. Winget’s own SEC Form 3 dated 02/28/2018; “No securities are beneficially owned” . |
| Ownership as % of shares outstanding | Not disclosed at Fund level for officers; Form 3 reported zero ownership . |
| Vested vs. unvested shares | None disclosed; officers are not granted Fund equity compensation . |
| Options (exercisable/unexercisable) | None disclosed; no Fund‑level officer options program . |
| Pledging/hedging | No pledging or hedging disclosures for officers in the Fund proxy . |
| Stock ownership guidelines | Not disclosed for officers; board member ownership ranges provided, but officers are not compensated by the Funds . |
Employment Terms
| Term | Disclosure |
|---|---|
| Position | Vice President and Secretary . |
| Length of service | Since 2008 (officer within the Nuveen fund complex) . |
| Term of office | Indefinite; officers elected annually by the Board and serve until successors are elected and qualified . |
| Compensation source | Officers receive no compensation from the Funds; compensation paid by Adviser (Nuveen/TIAA) . |
| Agent for service | Listed as agent for service in N‑CSR (address: 333 West Wacker Drive, Chicago, IL 60606) . |
Fund Performance Context (Total Returns)
Note: Mr. Winget is a legal/administrative officer, not an investment portfolio manager; Fund performance provides operating context rather than pay linkage.
| Metric | 10-Year | 5-Year | 1-Year | 6-Month |
|---|---|---|---|---|
| NMI Total Return at Common Share NAV (as of Apr 30, 2025) | 2.44% | 2.22% | 3.37% | −1.05% |
| NMI Total Return at Common Share Price (as of Apr 30, 2025) | 1.84% | 2.74% | 10.96% | 2.57% |
| S&P Municipal Yield Index (benchmark) | 3.86% | 3.82% | 3.60% | −1.12% |
For historical comparison as of Apr 30, 2024:
| Metric | 10-Year | 5-Year | 1-Year | 6-Month |
|---|---|---|---|---|
| NMI Total Return at Common Share NAV (as of Apr 30, 2024) | 2.85% | 1.27% | 4.60% | 10.21% |
| NMI Total Return at Common Share Price (as of Apr 30, 2024) | 1.81% | −0.06% | 1.46% | 12.04% |
| S&P Municipal Bond Index (benchmark) | 2.46% | 1.38% | 2.35% | 7.14% |
| NMI Linked Benchmark | 2.76% | 1.98% | 5.44% | 11.60% |
Risk Indicators & Red Flags
- Officers are not compensated by the Funds, and there is no Fund‑level equity awarded to officers; this eliminates typical vesting‑related selling pressure and option repricing risks at the Fund level .
- Mr. Winget’s own Form 3 reported zero beneficial ownership, and subsequent officer filings he signed under POA for other individuals likewise show no reported beneficial ownership for those persons at filing time; no pledging disclosed, reducing alignment‑risk flags tied to collateralization .
- Officers are elected annually with an indefinite term; any governance changes would typically be captured via 8‑K Item 5.02 filings or future proxies, but no specific severance or change‑of‑control provisions for officers are disclosed at the Fund level .
Investment Implications
- Minimal direct trading signal from executive incentives: officers receive no Fund‑level cash or equity compensation, and no Fund‑level performance metrics are tied to payouts; thus there is no vesting schedule or insider selling pressure related to NMI equity for Mr. Winget .
- Alignment via ownership is limited: Mr. Winget’s own Form 3 reported zero Fund share ownership, and no officer ownership guidelines are disclosed, implying low direct “skin‑in‑the‑game” at the Fund level (typical for closed‑end fund officers) .
- Retention risk is primarily tied to employment at Nuveen/TIAA rather than NMI itself; officers’ terms are indefinite and elected annually by the Board, with transitions expected to be communicated through proxies or 8‑Ks. Monitoring Item 5.02 filings and annual DEF 14As is the practical trigger for governance changes rather than trading based on compensation events .
- Performance context: NMI’s returns improved year‑over‑year at market price (10.96% 1‑year as of 4/30/25 vs. 1.46% 1‑year as of 4/30/24), but Mr. Winget is a legal/secretarial officer, not a portfolio driver; portfolio and distribution decisions remain the primary levers for investor outcomes in this fund structure .