William Siffermann
About William Siffermann
William A. Siffermann is Vice President of Nuveen Core Plus Impact Fund (NPCT) and a Senior Managing Director of Nuveen; he has served as an officer in the Nuveen fund complex since 2017 (term: indefinite; year of birth: 1975) . He is designated as Manager of Fund Board Relations and is the official contact for shareholder communications to the Board for NPCT (and other Nuveen funds), underscoring his governance liaison role . Officers of the Funds receive no compensation from the Funds (compensation is paid by the Adviser), limiting fund-level disclosure on his pay structure and performance incentives . As of February 18, 2025, Board Members and executive officers as a group beneficially owned less than 1% of NPCT shares, indicating limited insider ownership at the fund level .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed in NPCT filings | — | — | — |
(Executive officer biographies list Siffermann’s current Nuveen role but do not provide prior roles in NPCT filings .)
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed in NPCT filings | — | — | — |
(External directorships or committee roles for Siffermann are not disclosed in NPCT filings; the Manager of Fund Board Relations designation appears across Nuveen fund proxies .)
Fixed Compensation
- Officers of the Funds receive no compensation from the Funds; the CCO’s compensation is paid by the Adviser with a portion of incentive compensation reimbursed by the Funds, illustrating that executive pay details (e.g., base salary, bonus) are held at Nuveen/TIAA rather than fund-level disclosure .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for NPCT officers | — | — | — | — | — |
(Performance-linked compensation metrics for NPCT officers are not disclosed; officers are compensated by the Adviser rather than the Funds .)
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership – officers/Board as a group | Less than 1% of NPCT’s outstanding shares as of Feb 18, 2025 |
| Individual officer ownership (Siffermann) | Not separately disclosed in NPCT filings |
| Pledging/hedging | Not disclosed in NPCT filings |
| Ownership guidelines | Board Members are expected to invest at least the equivalent of one year of compensation across the Nuveen fund complex; this policy applies to Board Members, not officers |
Employment Terms
| Term Element | Disclosure |
|---|---|
| Position | Vice President (NPCT); Senior Managing Director (Nuveen) |
| Term | Indefinite; officers are elected annually by the Board to serve until successors are elected and qualified |
| Start in Nuveen fund complex | Since 2017 |
| Contract length/expiration | Not disclosed for officers (term listed as indefinite) |
| Severance/change-of-control | Not disclosed in NPCT filings |
| Non-compete/non-solicit/garden leave | Not disclosed in NPCT filings |
| Post-termination consulting | Not disclosed in NPCT filings |
| Clawbacks/gross-ups | Not disclosed in NPCT filings |
Investment Implications
- Pay-for-performance analysis at the Fund level is not feasible: NPCT officers, including Siffermann, are compensated by the Adviser (Nuveen/TIAA), and the Funds do not disclose officer salary/bonus/equity awards; therefore, compensation alignment to NPCT performance cannot be evaluated from fund filings .
- Ownership alignment appears limited at the fund level: the Board Members and executive officers as a group hold less than 1% of NPCT shares, suggesting low direct insider participation; individual officer holdings are not disclosed, constraining insider-selling pressure or pledging assessments .
- Governance access is clear: as Manager of Fund Board Relations, Siffermann is the designated conduit for shareholder communications to the Board, highlighting a central role in investor engagement and board governance logistics rather than portfolio or performance decision-making .
- Retention risk visibility is low: term is indefinite with service since 2017, but without employment agreement terms (severance, change-of-control), incentives, or equity vesting schedules, retention and incentive risk cannot be assessed using NPCT filings .