Mark J. Czarniecki
About Mark J. Czarniecki
Mark J. Czarniecki (year of birth 1979) serves as Vice President and Assistant Secretary of Nuveen Variable Rate Preferred & Income Fund (NPFD) and has held officer roles within the Nuveen funds complex since 2013 . His principal occupations over the past five years include Managing Director and Assistant Secretary at Nuveen Securities, LLC and Nuveen Fund Advisors, LLC; Managing Director, Assistant Secretary and Associate General Counsel at Nuveen Asset Management, LLC; and Managing Director and Associate General Counsel at Nuveen; he also holds Associate General Counsel and Assistant Secretary titles at Teachers Advisors, LLC and TIAA‑CREF Investment Management, LLC . Officers receive no compensation from the Fund (compensation is paid by affiliates), and as of December 31, 2023, NPFD disclosures indicate no beneficial ownership of the Fund’s securities by Mr. Czarniecki . In 2025, he signed a Rule 17g‑1 fidelity bond filing for Nuveen funds as Vice President and Secretary, evidencing his legal/secretarial responsibilities across the broader funds complex .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Variable Rate Preferred & Income Fund (NPFD) | Vice President and Assistant Secretary | Since 2013 | Not disclosed in filings |
| Nuveen Securities, LLC | Managing Director and Assistant Secretary; formerly Vice President (2016–2022), Assistant Secretary (since 2016) | MD since 2022; VP 2016–2022 | Not disclosed in filings |
| Nuveen Fund Advisors, LLC | Managing Director and Assistant Secretary; formerly Vice President (2017–2022), Assistant Secretary (since 2017) | MD since 2022; VP 2017–2022 | Not disclosed in filings |
| Nuveen Asset Management, LLC | Managing Director, Assistant Secretary, Associate General Counsel; formerly Vice President (2018–2022), Associate GC and Assistant Secretary (since 2018) | MD since 2022; VP 2018–2022 | Not disclosed in filings |
| Nuveen (parent) | Managing Director and Associate General Counsel; formerly Vice President and Associate General Counsel | MD since 2022; VP 2013–2021 | Not disclosed in filings |
| Teachers Advisors, LLC | Associate General Counsel and Assistant Secretary | Not specified | Not disclosed in filings |
| TIAA‑CREF Investment Management, LLC | Associate General Counsel and Assistant Secretary | Not specified | Not disclosed in filings |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Nuveen Funds Complex (multiple Nuveen/TIAA funds) | Vice President and Secretary | 2025 | Signed Rule 17g‑1 joint fidelity bond filing and related board resolutions |
Fixed Compensation
| Component | FY 2024 | Notes |
|---|---|---|
| Base Salary | Not disclosed | Officers receive no compensation from NPFD; compensation paid by Nuveen/TIAA affiliates |
| Target Bonus % | Not disclosed | Not disclosed in NPFD filings |
| Actual Bonus Paid | Not disclosed | Not disclosed in NPFD filings |
| Perquisites | Not disclosed | Not disclosed in NPFD filings |
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Cash Incentive | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| RSUs/PSUs | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Options | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
Fund documents do not provide officer-specific revenue/EBITDA/TSR performance targets or payout mechanics; NPFD officers are compensated by affiliates, and the proxy does not include individual pay-for-performance details .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership (NPFD) | None disclosed for Mr. Czarniecki as of Dec 31, 2023 |
| Ownership as % of shares outstanding | Not disclosed (no NPFD shares owned per filing) |
| Vested vs. unvested shares | Not applicable; no NPFD holdings disclosed |
| Options (exercisable/unexercisable) | Not disclosed in NPFD filings |
| Shares pledged as collateral | Not disclosed in NPFD filings |
| Stock ownership guidelines (multiple of salary) | Not disclosed in NPFD filings |
| Compliance status with ownership guidelines | Not disclosed in NPFD filings |
Employment Terms
| Term | Detail |
|---|---|
| Position with NPFD | Vice President and Assistant Secretary |
| Employment start date/tenure | Officer since 2013 |
| Contract term length | Indefinite term; officers elected annually to serve until successors are elected and qualified (proxy statement) |
| Compensation source | Officers receive no compensation from the Fund (paid by Nuveen/TIAA affiliates) |
| Severance provisions | Not disclosed in NPFD filings |
| Change‑of‑control provisions | Not disclosed in NPFD filings |
| Clawback provisions | Not disclosed in NPFD filings |
| Non‑compete / non‑solicit | Not disclosed in NPFD filings |
| Garden leave / consulting | Not disclosed in NPFD filings |
Investment Implications
- Pay‑for‑performance linkage at NPFD is minimal for this officer: the proxy explicitly states officers receive no compensation from the Fund, and it does not disclose salary/bonus/equity metrics or targets for Mr. Czarniecki .
- Insider selling pressure is effectively absent: NPFD filings report no beneficial ownership of NPFD shares by Mr. Czarniecki as of December 31, 2023, implying no Form 4‑driven selling signals tied to his holdings .
- Retention and incentive levers reside at the Nuveen/TIAA affiliate level (not the Fund): his multi‑fund legal/secretarial responsibilities evidenced by the 2025 Rule 17g‑1 filing suggest centralized governance roles; any severance/CIC/clawbacks would be governed by affiliate policies and are not visible in NPFD disclosures .
- Trading signal takeaway: With no NPFD equity ownership disclosed and no fund‑level compensation structure for officers, there are limited direct alignment or sell‑pressure signals attributable to Mr. Czarniecki from NPFD documents; monitoring affiliate disclosures would be required to assess broader incentives or potential retention risk .