Mark Czarniecki
About Mark J. Czarniecki
Mark J. Czarniecki (born 1979) serves as Vice President and Assistant Secretary of Nuveen Core Plus Impact Fund (NPCT), with service since 2013. He is a Managing Director and Associate General Counsel across Nuveen and affiliates, including Nuveen Securities, LLC; Nuveen Fund Advisors, LLC; Nuveen Asset Management, LLC; and Assistant Secretary roles across those entities; he also holds Managing Director, Associate General Counsel and Assistant Secretary roles at Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC . NPCT, like other Nuveen closed-end funds, has no employees and fund officers receive no compensation from the Fund; the Chief Compliance Officer is paid by the Adviser (Nuveen), with the Fund reimbursing a portion of incentive compensation .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Core Plus Impact Fund (NPCT) | Vice President & Assistant Secretary | Since 2013 | Fund officer supporting governance, legal, and administrative functions |
| Nuveen Securities, LLC | Managing Director & Assistant Secretary | Since 2022 | Legal and governance support across Nuveen fund complex |
| Nuveen Securities, LLC | Vice President & Assistant Secretary | 2016–2022 | Legal and governance support across Nuveen fund complex |
| Nuveen Fund Advisors, LLC | Managing Director & Assistant Secretary | Since 2022 | Registered fund advisory governance and legal oversight |
| Nuveen Fund Advisors, LLC | Vice President & Assistant Secretary | 2017–2022 | Registered fund advisory governance and legal oversight |
| Nuveen Asset Management, LLC | Managing Director; Associate General Counsel; Assistant Secretary | Managing Director since 2022; AGC/Assistant Secretary since 2018 | Asset management legal leadership and fund documentation oversight |
| Nuveen (LLC) | Managing Director & Associate General Counsel | Since 2022 (formerly VP & Associate GC 2013–2021) | Corporate legal leadership supporting fund operations |
| Teachers Advisors, LLC | Managing Director; Associate General Counsel; Assistant Secretary | Not stated | Legal/governance roles supporting affiliated fund complexes |
| TIAA-CREF Investment Management, LLC | Managing Director; Associate General Counsel; Assistant Secretary | Not stated | Legal/governance roles supporting affiliated fund complexes |
External Roles
| Organization | Role | Years |
|---|---|---|
| Teachers Advisors, LLC | Managing Director; Associate General Counsel; Assistant Secretary | Not stated |
| TIAA-CREF Investment Management, LLC | Managing Director; Associate General Counsel; Assistant Secretary | Not stated |
Fixed Compensation
| Component | Amount | Source | Notes |
|---|---|---|---|
| Officer compensation from NPCT | $0 | NPCT | “The Funds have no employees. The officers of the Funds serve without any compensation from the Funds.” |
| Chief Compliance Officer compensation (structure reference) | Not disclosed for Mark | Adviser (Nuveen) | CCO’s base + incentive paid by Adviser; Fund reimburses allocable portion of incentive compensation (structure indicates officer pay handled at Adviser level) |
No base salary, bonus, or equity paid by NPCT to its officers is disclosed; compensation is handled at Nuveen/Adviser level, not the Fund .
Performance Compensation
Not disclosed for NPCT officers; NPCT officers receive no compensation from the Fund (therefore no fund-linked performance metrics, vesting schedules, or payout curves are disclosed at the Fund level) .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Executive officers’ beneficial ownership (aggregate) | Board Members and executive officers as a group beneficially owned less than 1% of outstanding shares of each Fund as of February 18, 2025 |
| NPCT shares outstanding (context) | Common Shares: 28,755,000; Preferred (TFP Series A): 70,000 |
| Pledging / hedging | Not disclosed in proxy materials for officers |
| Ownership guidelines | Governance principle applies to Board Members (expected to invest equivalent of one year of compensation); not stated for officers |
Employment Terms
| Term Element | Disclosure |
|---|---|
| Position | Vice President & Assistant Secretary |
| Term | Indefinite; officers are elected annually and serve until successors are elected and qualified |
| Length of Service | Since 2013 (officer of Nuveen fund complex) |
| Contract term / expiration | Not applicable; no employment contract terms disclosed at Fund level |
| Severance / change of control | Not disclosed for officers at Fund level |
| Non-compete / non-solicit | Not disclosed at Fund level |
| Section 16 compliance | Funds report compliance with all applicable Section 16(a) filing requirements during last fiscal year |
Investment Implications
- Compensation alignment: NPCT pays no officer compensation; officer pay occurs at Adviser (Nuveen), so there are no fund-level pay-for-performance levers, vesting schedules, or equity grants tied to NPCT performance, reducing direct alignment signals at the Fund level .
- Retention risk: With roles anchored across Nuveen/TIAA’s legal and fund administration organizations, retention and incentives are driven by the Adviser’s HR/compensation frameworks, not NPCT; Fund-level documents provide no severance or change-of-control detail for officers .
- Insider selling pressure: Fund-level disclosure indicates Board Members and executive officers as a group hold <1% of NPCT; low direct holdings suggest minimal mechanical insider selling pressure at the Fund level. Section 16(a) compliance is reported (no delinquent filings disclosed), but no Form 4 transaction details are provided in the proxy .
- Trading signals: Governance focus and recent board election dynamics (e.g., 2024 adjournment and holdover trustees) are operational but not compensation-linked; Class III trustee election failed to achieve required majority in 2024, with trustees continuing as holdovers—indicative of shareholder voting dynamics rather than officer-related signals .