Brian Lockhart
About Brian Lockhart
Brian J. Lockhart serves as Vice President of Nuveen Core Plus Impact Fund (NPCT) and is Senior Managing Director and Head of Investment Oversight at Nuveen; he is also Senior Managing Director of Nuveen Fund Advisors, LLC . He has served as an officer of the Fund since 2019 and holds the Chartered Financial Analyst (CFA) and Certified Financial Risk Manager (FRM) credentials . NPCT filings state that Fund officers receive no compensation from the Funds, and do not disclose performance-linked pay or fund-level TSR/revenue/EBITDA metrics tied to Lockhart’s compensation .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Head of Investment Oversight | Since Sep 2017 | Oversees investment oversight across Nuveen; senior leadership of oversight function |
| Nuveen | Team Leader, Manager Oversight | 2015–2017 | Led manager oversight activities prior to assuming head role |
| Nuveen | Vice President | 2010–2017 | Progression within Nuveen prior to later promotions |
| Nuveen Fund Advisors, LLC | Managing Director → Senior Managing Director | 2017–2021 → Since 2021 | Leadership roles at Nuveen Fund Advisors supporting fund governance/oversight |
| Nuveen Core Plus Impact Fund (NPCT) | Vice President (Officer) | Since 2019 | Fund officer role; supports fund administration and oversight |
External Roles
No external directorships or outside roles for Lockhart are referenced in the NPCT proxy filings reviewed; officer disclosures focus on Nuveen/Adviser roles .
Fixed Compensation
Fund officers “serve without any compensation from the Funds.” Compensation for the Chief Compliance Officer is paid by the Adviser, with the Funds reimbursing an allocable portion of the CCO’s incentive compensation; analogous detail for other officers is not disclosed .
| Component | Status in NPCT Filings |
|---|---|
| Base salary | Not disclosed (officers receive no compensation from the Funds) |
| Target bonus % | Not disclosed (see above) |
| Actual bonus paid | Not disclosed (see above) |
| Perquisites | Not disclosed (see above) |
Performance Compensation
NPCT filings do not disclose RSU/PSU or option awards, performance metrics, or payout outcomes for Fund officers (officers are not compensated by the Funds) .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for Fund officers | — | — | — | — | — |
Equity Ownership & Alignment
| Item | Brian Lockhart (Individual) | Source |
|---|---|---|
| Total beneficial ownership (NPCT) | Not individually disclosed | Officer tables list Lockhart’s role/tenure but do not provide individual holdings |
| Ownership as % of shares outstanding | Not disclosed | Not provided for officers |
| Vested vs. unvested shares | Not disclosed | Not provided for officers |
| Options (exercisable/unexercisable) | Not disclosed | Not provided for officers |
| Shares pledged as collateral | Not disclosed | Not provided for officers |
| Stock ownership guidelines | Not disclosed for officers | Board/Independent Member info presented; officer guidelines not shown |
Group ownership context:
- As of Dec 31, 2024, Board Members/nominees and officers as a group owned 0 shares of the Nuveen Core Plus Impact Fund (Core Plus Impact) and held shares across other Nuveen funds (e.g., Floating Rate Income 72,247; Global High Income 16,475; Credit Strategies 2,714) .
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Position | Vice President (Officer) | |
| Term of office | Indefinite; officers are elected by the Board on an annual basis to serve until successors are elected and qualified | |
| Length of service | Since 2019 (as NPCT officer) | |
| Compensation from Fund | Officers serve without any compensation from the Funds | |
| Severance, change-of-control, clawbacks, tax gross-ups | Not disclosed for Fund officers | |
| Non-compete/non-solicit/garden leave | Not disclosed |
Investment Implications
- Pay-for-performance visibility is limited: NPCT filings state officers receive no compensation from the Funds, and do not disclose individual cash or equity awards, targets, or payout outcomes for officers, constraining analysis of incentive alignment at the Fund level .
- Direct ownership alignment at the Fund appears minimal at the group level: Board members and officers collectively held 0 shares of NPCT as of Dec 31, 2024, reducing observable “skin in the game” for officers at the Fund, though group holdings exist in other Nuveen funds .
- Retention and transition risk indicators are not disclosed: no employment agreements, severance, change-of-control provisions, or restrictive covenants are presented for Fund officers in NPCT filings; officers are elected annually with indefinite terms, indicating governance continuity but limited insight into economic retention levers .
- Execution track record: Filings document Lockhart’s progression to Senior Managing Director and leadership of Nuveen’s investment oversight function, evidencing institutional responsibility, but do not connect NPCT performance metrics or TSR to his compensation outcomes at the Fund level .