Marc Cardella
Vice President and Controller (Principal Financial Officer) at NUVEEN MISSOURI QUALITY MUNICIPAL INCOME FUND
Executive
About Marc Cardella
Marc Cardella (born 1984) serves as Vice President and Controller (Principal Financial Officer) of Nuveen Missouri Quality Municipal Income Fund (NOM) with an indefinite term and service since 2024. He is Senior Managing Director and Head of Public Investment Finance at Nuveen, Senior Managing Director at Teachers Advisors, LLC and TIAA‑CREF Investment Management, LLC, Managing Director at Teachers Insurance and Annuity Association of America and TIAA SMA Strategies LLC, and Principal Financial Officer, Principal Accounting Officer and Treasurer of TIAA Separate Account VA‑1 and the College Retirement Equities Fund (CREF) . He provides SOX 302/906 certifications on NOM’s N‑CSR, evidencing responsibility for disclosure controls and financial reporting integrity . Fund‑level performance metrics linked to his compensation (TSR, revenue, EBITDA) are not disclosed in NOM’s filings .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Senior Managing Director; Head of Public Investment Finance | Not disclosed | Leads public investment finance oversight for Nuveen’s fund complex . |
| Teachers Advisors, LLC | Senior Managing Director | Not disclosed | Senior leadership in advisory entity supporting TIAA‑affiliated funds . |
| TIAA‑CREF Investment Management, LLC | Senior Managing Director | Not disclosed | Executive oversight within TIAA’s investment management operations . |
| Teachers Insurance and Annuity Association of America | Managing Director | Not disclosed | Finance/oversight role within TIAA enterprise . |
| TIAA SMA Strategies LLC | Managing Director | Not disclosed | Oversight of separately managed account strategies . |
| TIAA Separate Account VA‑1; CREF | Principal Financial Officer, Principal Accounting Officer, Treasurer | Not disclosed | Principal finance/accounting leadership for affiliated insurance and retirement funds . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| None disclosed in NOM filings | — | — | No external board roles disclosed for Cardella in NOM proxy . |
Fixed Compensation
Officers of the Funds serve without compensation from the Funds. The Funds’ CCO compensation is paid by the Adviser; officer compensation (including Cardella’s) is not paid by NOM and is not disclosed at the fund level .
| Component | Value | Notes |
|---|---|---|
| Base Salary | Not disclosed | Fund officers receive no compensation from NOM . |
| Target Bonus % | Not disclosed | Not disclosed at fund level . |
| Actual Bonus Paid | Not disclosed | Not disclosed at fund level . |
| Perquisites | Not disclosed | Not disclosed at fund level . |
Performance Compensation
No fund‑level disclosure of incentive metrics or payouts for officers.
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — |
| Explanation: Officer compensation and performance frameworks are handled by Nuveen/TIAA and not disclosed in NOM’s filings . |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | Form 3 indicates “No securities are beneficially owned.” (as of 12/02/2024; filed 12/03/2024) . |
| Ownership as % of shares outstanding | 0.00% (NOM common shares outstanding: 2,350,752 as of 02/18/2025) . |
| Vested vs unvested shares | Not applicable; no beneficial ownership reported . |
| Options (exercisable/unexercisable) | None reported on Form 3 . |
| Pledging/hedging | None indicated; no beneficial holdings disclosed . |
| Stock ownership guidelines | Board Members have an investment expectation; officer ownership guidelines not disclosed for NOM . |
| Group ownership context | Board Members and executive officers as a group beneficially owned <1% of each Fund’s shares as of 02/18/2025 . |
Employment Terms
| Term | Disclosure |
|---|---|
| Fund officer role | Vice President & Controller (Principal Financial Officer) of NOM; term indefinite; service since 2024 . |
| Election/term mechanics | Officers are elected by the Board annually to serve until successors are elected and qualified . |
| Employment start date | Since 2024 (fund officer service) . |
| Contract term length/expiration | Not disclosed at officer level; annual election by Board . |
| Severance provisions | Not disclosed for officers in NOM filings . |
| Change‑of‑control triggers | Not disclosed for officers in NOM filings . |
| Clawbacks/tax gross‑ups | Not disclosed for officers in NOM filings . |
| Non‑compete / non‑solicit | Not disclosed for officers in NOM filings . |
| Garden leave / consulting | Not disclosed for officers in NOM filings . |
Performance & Track Record
- SOX Certifications: Cardella signed SOX 906 and 302 certifications on NOM’s Form N‑CSR for period ended November 30, 2024, affirming fair presentation and effective disclosure controls (filed February 5, 2025) .
- Fund governance and reporting process: Role documented in DEF 14A as PFO overseeing financial reporting across Nuveen/TIAA fund complex .
- Specific TSR/revenue/EBITDA achievements tied to Cardella’s compensation are not disclosed by NOM .
Risk Indicators & Red Flags
| Indicator | Status |
|---|---|
| Insider selling pressure | None; no beneficial ownership reported on Form 3 . |
| Pledging/hedging | None indicated; no holdings . |
| Compensation opacity at fund | Officer pay not disclosed (paid by Adviser, not by NOM) . |
| Legal/SEC investigations | None disclosed regarding Cardella in NOM filings reviewed . |
Governance Context (Fund)
- Officers of the Funds receive no compensation from the Funds; Board Members are independent and compensated via retainers/fees allocated across funds. Officer compensation disclosure is outside NOM’s proxy scope .
- Board committees (Audit, Compliance/Risk, Investment, etc.) oversee financial reporting and valuation; Cardella operates under this governance architecture as PFO .
Investment Implications
- Alignment: With no NOM share ownership and no fund‑level compensation disclosure for officers, direct pay‑for‑performance alignment at NOM is limited; governance relies on the Nuveen/TIAA enterprise structure and Board oversight .
- Retention/trading signals: Minimal direct trading signals (no holdings to sell/pledge). Retention and incentives likely driven by Nuveen/TIAA policies rather than NOM‑specific outcomes; not disclosed in NOM filings .
- Execution risk: As PFO, Cardella’s role centers on controls and reporting (SOX certifications), supporting reliability of NOM’s disclosures; performance metrics tied to his pay are not disclosed at the fund level, reducing visibility into incentive levers .