Brian J. Lockhart
About Brian J. Lockhart
Brian J. Lockhart (born 1974) is Vice President of Nuveen Massachusetts Quality Municipal Income Fund (NMT), serving since 2019. He is Senior Managing Director and Head of Investment Oversight at Nuveen and Senior Managing Director at Nuveen Fund Advisors, LLC; he holds the Chartered Financial Analyst (CFA) and Certified Financial Risk Manager (FRM) credentials. The Fund’s proxy filings do not disclose TSR, revenue or EBITDA performance metrics for officers; officers are elected by the Board and serve until successors are elected and qualified.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Head of Investment Oversight | Since Sep 2017 | Oversees investment oversight function across funds |
| Nuveen | Senior Managing Director | Since 2021 | Senior leadership across Nuveen/Nuveen Fund Advisors |
| Nuveen | Managing Director | 2017–2021 | Managerial responsibility prior to promotion |
| Nuveen | Vice President | 2010–2017 | Preceded oversight leadership; progressed internally |
| Nuveen Fund Advisors, LLC | Managing Director | Since 2019 | Senior role at the Fund’s adviser |
| Nuveen | Team Leader, Manager Oversight | 2015–2017 | Led manager oversight team before investment oversight role |
External Roles
No external directorships or committee roles are disclosed for Lockhart in the Fund’s officer section.
Fixed Compensation
Officers receive no compensation from the Fund; compensation for officers (including Lockhart) is paid by Nuveen/the Adviser and is not disclosed in Fund proxies.
| Component | Status |
|---|---|
| Base salary (Fund-level) | Not applicable; officers receive no compensation from the Funds |
| Target bonus % (Fund-level) | Not applicable; officers receive no compensation from the Funds |
| Actual bonus paid (Fund-level) | Not applicable; officers receive no compensation from the Funds |
| Perquisites (Fund-level) | Not applicable; officers receive no compensation from the Funds |
Note: The Fund reimburses the Adviser for an allocable portion of the Chief Compliance Officer’s incentive compensation; this does not apply to other officers.
Performance Compensation
No stock awards, option awards, or performance-based pay are disclosed at the Fund level for officers. Officers receive no compensation from the Funds.
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| RSUs/PSUs (Fund-level) | Not disclosed | — | — | — | — | — |
| Options (Fund-level) | Not disclosed | — | — | — | — | — |
| Cash STI/LTI (Fund-level) | Not disclosed | — | — | — | — | — |
Equity Ownership & Alignment
- Officers and Board Members as a group beneficially owned less than 1% of the Fund’s outstanding shares; Appendix A shows 0 shares held by Board Members individually in NMT as of the record dates.
Ownership over time (NMT Common Shares):
| Metric | FY 2023 (Aug 14, 2023) | FY 2024 (Sep 20, 2024) | FY 2025 (Oct 22, 2025) |
|---|---|---|---|
| Officers and Board Members as a group – NMT shares owned | 0 | 0 | 0 |
- No pledging, hedging, or officer-specific ownership guidelines are disclosed. Board Members, not officers, are expected to invest at least one year of compensation in the Fund Complex (governance principle).
Employment Terms
| Term Element | Disclosure |
|---|---|
| Election/Term | Officers are elected by the Board on an annual basis and serve until successors are elected and qualified |
| Start date in current role | Length of Service: since 2019 (Vice President) |
| Compensation source | Officers receive no compensation from the Funds; paid by the Adviser/Nuveen |
| Severance/Change-of-Control | Not disclosed in Fund proxies |
| Clawbacks/Ownership requirements (officers) | Not disclosed in Fund proxies |
| Non-compete/Non-solicit/Garden leave | Not disclosed in Fund proxies |
| Section 16 compliance | The Fund believes Board Members and officers complied with all applicable Section 16(a) filing requirements in the last fiscal year |
Investment Implications
- Alignment and selling pressure: With no Fund-level compensation and no disclosed individual officer share ownership, there are minimal direct alignment levers or insider selling pressures tied to NMT for Lockhart. Governance-driven identity-of-interest expectations apply to Board Members, not officers.
- Retention risk: Lockhart’s responsibilities and compensation reside at Nuveen/Adviser, not the Fund; Fund filings provide no severance/change-of-control terms—suggesting retention and economics are governed by Nuveen policies outside the Fund’s disclosures.
- Trading signals: No officer-level equity awards, vesting schedules, or pledging/hedging activity are disclosed for NMT—limiting officer-related trading signal analysis.
- Governance: Officer roles are stable and elected annually; compliance processes appear robust (no delinquent Section 16 filings), and board consolidation across the Fund Complex may improve oversight and efficiency, indirectly supporting operational execution.