Albin Moschner
About Albin F. Moschner
Independent board member of Nuveen Core Plus Impact Fund (NPCT) since 2016; year of birth 1952. Founder and CEO of Northcroft Partners, LLC (management consulting) since 2012, with prior senior operating roles in wireless and electronics; designated an “Independent Board Member” under the 1940 Act and never an employee/director of TIAA/Nuveen or affiliates . Education: B.E. Electrical Engineering (The City College of New York, 1974) and M.S. Electrical Engineering (Syracuse University, 1979) . For NPCT, he was elected by Preferred shareholders at the 2024 annual meeting; currently a nominee for re‑election by Preferred shareholders at the 2025 meeting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Leap Wireless International, Inc. | COO; CMO; Consultant | COO (2008–2011); CMO (2004–2008); Consultant (2011–2012) | Led operations and marketing in consumer wireless services |
| Verizon Communications (Verizon Card Services) | President | 2000–2003 | Led card services business |
| One Point Communications (One Point Services) | President | 1999–2000 | Ran services division |
| Diba, Incorporated | Vice Chairman of the Board | 1996–1997 | Internet technology provider governance role |
| Zenith Electronics Corporation | CEO; President; earlier COO | CEO (1995–1996); President/COO (1994–1995); various executive roles (1991–1996) | Led consumer electronics turnaround/execution |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| USA Technologies, Inc. | Chairman (2019); Director | 2012–2019 | Electronic payments enablement; chaired board in 2019 |
| Wintrust Financial Corporation | Director | 1996–2016 | Regional financial services; long board tenure |
| Kellogg School of Management | Advisory Board (emeritus) | 1995–2018 | Strategy/management advisory (emeritus since 2018) |
| Archdiocese of Chicago Financial Council | Advisory Board (emeritus) | 2012–2018 | Financial oversight advisory |
Board Governance
- Independence: Board affirms all nominees (including Moschner) are “Independent Board Members” under the 1940 Act and not affiliated with TIAA/Nuveen; Robert L. Young serves as independent Chair .
- Committees:
- Closed-End Fund Committee: Chair (key oversight of premiums/discounts, leverage, repurchases/workshops) .
- Audit Committee: Member; designated an SEC “audit committee financial expert” .
- Compliance, Risk Management & Regulatory Oversight Committee: Member .
- Nominating & Governance Committee: Member .
- Investment Committee: Member .
- Dividend Committee: Not listed as member (committee led by Thornton) .
- Attendance: Each Board Member attended at least 75% of Board and committee meetings in the last fiscal year; Board/committee meeting counts for NPCT are disclosed (e.g., 5 regular Board, 14 Audit, etc.) .
- Election status: Elected by Preferred shareholders in 2024; Class III trustees vote failed for Common+Preferred together (holdover status continued for Class III) . Preferred shareholders will again elect two trustees (including Moschner) at the 2025 meeting .
Fixed Compensation
- Structure changes:
- 2023: $210,000 annual retainer plus per-meeting fees (Board/committees), and Chair/chairperson add-ons (e.g., Board Chair +$140,000; key committee chairs +$20,000) .
- Effective Jan 1, 2024: $350,000 annual retainer; annual committee retainers increased further as of Jan 1, 2025 (Audit/Compliance from $30k to $35k; Investment from $20k to $30k; Dividend/Nominating/Closed-End Funds from $20k to $25k; Board Chair to $150k) .
- Deferred Compensation Plan available; Nuveen funds do not have retirement/pension plans .
| Metric | Value | Notes |
|---|---|---|
| NPCT (Core Plus Impact) aggregate compensation to Moschner – last fiscal year | $1,498 | Per‑fund figure from compensation table |
| Total compensation from funds in Fund Complex paid to Moschner | $481,250 | Sum across Nuveen Fund Complex – last fiscal year |
| Deferred compensation elected by Moschner | $0 | Table shows no deferred amounts for Moschner across participating funds |
Performance Compensation
| Component | Disclosure |
|---|---|
| Bonus/target bonus | None disclosed for independent trustees; compensation is retainer and committee/meeting-based |
| Stock awards (RSUs/PSUs), options | None disclosed for independent trustees of NPCT; director comp is cash-based retainers/fees |
| Pay-for-performance metrics (TSR, EBITDA, ESG) | Not applicable for independent trustees; no performance metric-linked pay disclosed |
| Clawbacks / Change-of-control / Severance | Not disclosed for trustees in NPCT proxy |
Other Directorships & Interlocks
| Company | Type | Role | Potential Interlock/Conflict |
|---|---|---|---|
| USA Technologies, Inc. | Public | Chairman (2019); Director (2012–2019) | No NPCT-specific related party exposure disclosed |
| Wintrust Financial Corporation | Public | Director (1996–2016) | Historical role; no current related party exposure disclosed |
| Kellogg School of Management; Archdiocese of Chicago Financial Council | Non-profit/Advisory | Advisory Boards (emeritus) | Advisory; no conflict noted |
- Related party transactions: NPCT proxy discloses a table for holdings in companies advised by affiliates; Moschner is not listed in that related-company holdings table (example entries pertain to another trustee), indicating no such exposure disclosed for him .
Expertise & Qualifications
- Operating executive across telecom and consumer electronics; governance/strategy consulting founder/CEO; extensive board leadership experience .
- SEC-designated audit committee financial expert; strengthens financial oversight capabilities .
- Technical background (Electrical Engineering degrees); industry scope spanning wireless, payments, electronics .
Equity Ownership
- Ownership guideline: Board expects each Independent Board Member to invest at least the equivalent of one year of compensation in Nuveen/TIAA fund complex funds (direct or deferred) to align interests .
- NPCT-specific ownership: Dollar range $0 and shares owned 0 for NPCT; ownership across other funds includes Real Estate Income ($1–$10,000; 1,017 shares) and Floating Rate Income (34,519 shares) .
- Concentration/percent: Each Board Member individually owned less than 1% of outstanding shares of each Fund as of the record date; Board members and officers as a group owned less than 1% for each Fund .
| Fund | Dollar Range (as of Dec 31, 2024) | Shares Owned (as of Dec 31, 2024) |
|---|---|---|
| NPCT (Core Plus Impact) | $0 | 0 |
| Floating Rate Income (JFR) | Over $100,000 | 34,519 |
| Real Estate Income (JRS) | $1–$10,000 | 1,017 |
Insider Trades
| Filing Date | Transaction Date | Form | Reporting Name | Post-Transaction Ownership | Link |
|---|---|---|---|---|---|
| 2021-04-29 | 2021-04-01 | Form 3 | MOSCHNER ALBIN F | 0 shares | https://www.sec.gov/Archives/edgar/data/1835068/000122520821007212/0001225208-21-007212-index.htm |
Source: Insider-trades skill query for NPCT, filtered for “Moschner” from 2020-01-01 to 2025-11-20 (retrieved 1 record) [insider-trades skill output].
Governance Assessment
- Positives:
- Committee leadership and breadth: Chair of Closed-End Fund Committee; member of Audit (financial expert), Compliance, Nominating/Governance, Investment—indicative of high engagement and broad oversight .
- Attendance and process rigor: ≥75% attendance; extensive committee cadence (e.g., 14 Audit meetings), supporting robust oversight .
- Independence: Explicitly independent under the 1940 Act; no TIAA/Nuveen employment history; no related-party holdings disclosed for him in affiliate-advised companies table .
- Structural improvements: Elimination of “control share” by-law provisions in Feb 2024, a shareholder-friendly change .
- Risks/RED FLAGS:
- Election dynamics: 2024 Class III trustee vote failed (no majority from Common+Preferred), leading to holdover trustees; for NPCT, governance optics of preferred-shareholder-only elections for two trustees (including Moschner) could be scrutinized by Common shareholders .
- Alignment: Zero direct NPCT share ownership (while owning other Nuveen funds); although board expects one-year pay invested across the complex, fund-specific ownership alignment signal at NPCT is weak .
- Pay escalation: Board-wide retainer increased to $350k in 2024 with higher committee retainers in 2025; investors may assess if compensation growth matches fund performance/discount reduction outcomes (no director performance pay link disclosed) .
Interpretation: Moschner’s deep operating background and audit expertise strengthen board effectiveness. However, NPCT-specific ownership is nil and preferred-shareholder election structure plus recent election issues present optics concerns for Common shareholders, warranting monitoring of discount actions and shareholder engagement via his Closed-End Fund Committee leadership .