David Lamb
Chief Administrative Officer (Principal Executive Officer) at NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND
Executive
About David Lamb
David J. Lamb serves as Chief Administrative Officer (Principal Executive Officer) of Nuveen Municipal High Income Opportunity Fund (NMZ). He was born in 1963 and has served as an officer in the Nuveen fund complex since 2015; his principal occupations over the past five years include Senior Managing Director roles at Nuveen Fund Advisors, LLC, Nuveen Securities, LLC, and Nuveen, with prior roles at Nuveen as well . He signs key fund filings, including Sarbanes–Oxley Section 906 certifications on N-CSR reports and annual N-PX proxy voting reports as Chief Administrative Officer .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Fund Advisors, LLC | Senior Managing Director | Past 5 years (as disclosed) | Not disclosed |
| Nuveen Securities, LLC | Senior Managing Director | Past 5 years (as disclosed) | Not disclosed |
| Nuveen (parent/affiliate) | Senior Managing Director; previously various positions | Past 5 years (as disclosed) | Not disclosed |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| None disclosed in NMZ filings | — | — | — |
Fixed Compensation
Officers receive no compensation from the Funds; the Funds have no employees. Compensation for the Funds’ Chief Compliance Officer (CCO) is paid by the Adviser, with the Funds reimbursing an allocable portion of the CCO’s incentive compensation .
| Component | 2025 | Source |
|---|---|---|
| Base salary | Not disclosed (officers compensated by Nuveen, not the Fund) | |
| Target bonus % | Not disclosed | |
| Actual bonus paid | Not disclosed | |
| Perquisites | Not disclosed | |
| Pension/SERP | Not disclosed |
Performance Compensation
No fund-level disclosure of performance-based pay elements (RSUs/PSUs/options) for officers; officers are compensated by Nuveen affiliates, not by the Fund .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — |
Equity Ownership & Alignment
| Item | Detail | Source |
|---|---|---|
| Individual beneficial ownership (David Lamb) | Not individually disclosed | |
| Officers/Board as a group – NMZ shares owned | 8,988 shares (as of May 31, 2025) | |
| NMZ common shares outstanding | 115,101,107 (as of June 20, 2025) | |
| Group ownership as % of outstanding | Less than 1% (per proxy statement) | |
| Shares pledged/hedged | Not disclosed | |
| Stock ownership guidelines | Expectation applies to Independent Board Members (invest at least one year of compensation in Nuveen funds); no officer guideline disclosed |
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Title | Chief Administrative Officer (Principal Executive Officer) | |
| Term of office | Indefinite; officers elected annually to serve until successors are elected and qualified | |
| Length of service | Since 2015 | |
| Employer | Nuveen affiliates (Nuveen Fund Advisors, LLC; Nuveen Securities, LLC; Nuveen) | |
| Employment agreement | Not disclosed at fund level | |
| Severance provisions | Not disclosed at fund level | |
| Change-of-control | Not disclosed at fund level | |
| Clawback/gross-ups | Not disclosed at fund level | |
| Non-compete/non-solicit | Not disclosed at fund level |
Performance & Track Record
- Principal Executive Officer signatory and Section 906 certification responsibilities (compliance, financial reporting attestations) are evidenced in N-CSR certifications and annual N-PX filings .
- Fund-level TSR/revenue/EBITDA metrics are not applicable/disclosed for officers in NMZ proxy; officers receive no compensation from the Funds and performance pay elements are not reported at fund level .
Related Party Transactions and Governance Notes
- No officer-specific related party transaction disclosures identified in NMZ DEF 14A officer section .
- The Fund utilizes a unitary independent Board across the Nuveen/TIAA fund complex, with extensive committee oversight (Audit, Compliance & Risk, Investment, Dividend, Nominating & Governance, Closed-End Fund). Officer compensation is not part of fund governance because officers are paid by the Adviser .
Investment Implications
- Pay-for-performance alignment at the fund level is limited for officers: NMZ pays no officer compensation, and no RSU/option vesting schedules or performance metrics are disclosed for officers; alignment flows through Nuveen’s corporate compensation frameworks, which are not reported in NMZ filings .
- Direct “skin-in-the-game” appears modest at the fund level: group holdings of 8,988 NMZ shares vs 115,101,107 outstanding, with less than 1% beneficial ownership by officers and Board Members as disclosed; this implies low direct ownership alignment for NMZ officers individually (David Lamb’s holdings are not broken out) .
- Retention and change-of-control economics for David Lamb are not disclosed in fund filings, leaving limited visibility into severance triggers, non-compete terms, or potential accelerated vesting—reducing the ability to model retention risk or golden-parachute incentives from NMZ disclosures .
- Trading signals from insider activity are minimal at the fund level given the absence of disclosed officer equity awards or vesting schedules in NMZ filings; no officer Form 4 transactions are presented in the fund’s document catalog, and officer compensation/awards are handled by the Adviser rather than NMZ .