Jeremy D. Franklin
About Jeremy D. Franklin
Jeremy D. Franklin (born 1983) serves as Vice President and Assistant Secretary of Nuveen Massachusetts Quality Municipal Income Fund (NMT) with an indefinite term and has served since 2024. He is a Managing Director and Assistant Secretary at Nuveen Fund Advisors, LLC and holds Vice President/Associate General Counsel roles across Nuveen Asset Management, Teachers Advisors, LLC, and TIAA‑CREF Investment Management, LLC, as well as Vice President and Associate General Counsel at TIAA; he also holds similar officer roles at TIAA Separate Account VA‑1 and College Retirement Equities Fund . The Funds have no employees; officers serve without compensation from the Funds (with the CCO paid by the Adviser), so fund filings do not disclose individual compensation metrics (TSR, revenue growth, EBITDA, etc.) for officers .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Fund Advisors, LLC | Managing Director and Assistant Secretary | Not disclosed | Governance, fund administration, and officer duties across the Nuveen closed-end complex |
| Nuveen Asset Management, LLC | Vice President, Associate General Counsel, Assistant Secretary | Not disclosed | Legal oversight supporting portfolio/fund operations |
| Teachers Advisors, LLC | Vice President, Associate General Counsel, Assistant Secretary | Not disclosed | Legal and regulatory support across TIAA fund platforms |
| TIAA‑CREF Investment Management, LLC | Vice President, Associate General Counsel, Assistant Secretary | Not disclosed | Legal governance for investment management activities |
| Teachers Insurance and Annuity Association of America (TIAA) | Vice President and Associate General Counsel | Not disclosed | Enterprise legal leadership; “previously held various positions” at TIAA |
| TIAA Separate Account VA‑1; College Retirement Equities Fund | Vice President, Associate General Counsel, Assistant Secretary | Not disclosed | Officer roles for separate account/mutual fund vehicles |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen/TIAA affiliated fund complexes (VA‑1, CREF) | Officer roles (VP/Associate GC/Assistant Secretary) | Not disclosed | Cross-complex governance and compliance leadership |
Fixed Compensation
| Component | 2024 | 2025 | Notes |
|---|---|---|---|
| Base salary (from NMT) | $0 | $0 | Officers serve without any compensation from the Funds; compensation is paid by the Adviser |
| Target bonus % (from NMT) | N/A – not Fund‑paid | N/A – not Fund‑paid | Fund does not pay officer bonuses; CCO comp paid by Adviser (Fund reimburses allocable portion of CCO incentive comp) |
| Actual bonus paid (from NMT) | N/A | N/A | Not Fund‑paid |
| Perquisites (from NMT) | Not disclosed | Not disclosed | Fund has no employees; officer perquisites, if any, would be at Adviser level |
The Funds have no employees; officers serve without compensation from the Funds. The CCO’s compensation is paid by the Adviser; Funds reimburse an allocable portion of the CCO’s incentive comp .
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Fund‑paid short‑term bonus | Not applicable | — | — | — | — | — |
| Fund‑paid equity (RSUs/PSUs) | Not applicable | — | — | — | — | — |
| Fund‑paid options | Not applicable | — | — | — | — | — |
NMT does not pay officer compensation; any incentive compensation for officers is at the Adviser (Nuveen/TIAA) and not disclosed in NMT filings .
Equity Ownership & Alignment
| Ownership Item | 2024 | 2025 | Notes |
|---|---|---|---|
| Jeremy D. Franklin – NMT shares owned | Not separately disclosed | Not separately disclosed; each Board Member’s individual beneficial shareholdings <1% | Officer‑level individual holdings are not itemized in the proxy; only group totals provided |
| Board Members and Officers as a group – NMT shares | 0 | <1% of outstanding (group) | Alignment principle expects Board Members to invest at least one year of compensation in the Fund Complex |
| Pledged shares | Not disclosed | Not disclosed | No pledging disclosures for officers in NMT filings |
| Stock ownership guidelines (officers) | Not disclosed | Not disclosed | Board member ownership principle noted; no officer guideline detail |
Employment Terms
| Term | Detail |
|---|---|
| Fund officer title | Vice President and Assistant Secretary |
| Term length | Indefinite; officers elected annually to serve until successors are elected and qualified |
| Start date in current role | Since 2024 |
| Compensation source | Officers receive no compensation from the Funds; compensation paid by the Adviser (Nuveen); Funds reimburse allocable portion of CCO incentive comp |
| Non‑compete / Non‑solicit | Not disclosed in Fund filings |
| Severance / Change‑of‑control | Not disclosed in Fund filings |
| Clawback provisions | Not disclosed in Fund filings |
| Section 16(a) compliance | Fund reports compliance with all applicable Section 16(a) filing requirements during the last fiscal year |
Investment Implications
- Pay‑for‑performance analysis at the Fund level is not applicable for officers: NMT does not pay officer compensation; any compensation is at Nuveen/TIAA and not disclosed in NMT filings, limiting assessment of cash‑vs‑equity mix, metric design, and incentive alignment at the Fund level .
- Insider selling pressure appears minimal from Fund filings: Board Members and officers as a group owned 0 NMT shares as of 2024 and less than 1% as of 2025; individual officer holdings (including Franklin) are not itemized, and no pledging is disclosed .
- Retention risk looks low from Fund governance perspective: Franklin’s officer role carries an indefinite term with annual election by the Board, embedded across Nuveen/TIAA complexes, indicating stability in administrative leadership structure .
- Monitoring signals: track 8‑K Item 5.02 and annual DEF 14A updates for governance changes (e.g., board consolidation and officer rosters) and confirm ongoing Section 16(a) compliance; recent filings report compliance and reflect the consolidated unitary board governance model .
Board and officer governance across the Fund Complex follows a unitary board structure, with independent Board Members and committee architecture overseeing compliance, valuation, investment risk, and closed‑end market dynamics; officers are drawn from Nuveen/TIAA and serve without Fund compensation .