Mark L. Winget
About Mark L. Winget
Vice President and Secretary of Nuveen Variable Rate Preferred & Income Fund (NPFD), with year of birth 1968 and service in the Nuveen closed-end fund complex since 2008. His core credentials are legal and fund governance: Vice President and Assistant Secretary roles across Nuveen Securities, LLC and Nuveen Fund Advisors, LLC; Associate General Counsel roles at Nuveen Asset Management, LLC, Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC . Officers are elected annually by the Board and serve until successors are elected and qualified; fund officers receive no compensation from the Funds—compensation is paid by the adviser, with only the CCO’s incentive component partially reimbursed—so there is no disclosed pay-for-performance construct for NPFD officers . NPFD’s recent performance context: for the 12 months ended July 31, 2024, total return at NAV was 14.87% and at price was 24.03%; since inception (12/15/2021), NAV return was -1.67% and price return -3.46% .
| NPFD Performance | As of 7/31/2024 |
|---|---|
| 1-Year Total Return at NAV | 14.87% |
| 1-Year Total Return at Price | 24.03% |
| Since Inception (12/15/2021) Total Return at NAV | -1.67% |
| Since Inception (12/15/2021) Total Return at Price | -3.46% |
Note: Winget regularly appears as signatory under power of attorney on Section 16 filings for other insiders across the Nuveen fund complex, reflecting his legal/administrative role rather than personal trading activity .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen, LLC | Assistant General Counsel | 2008–2016 | Legal counsel across closed-end funds and registrations |
| Nuveen, LLC | Associate General Counsel | 2019–present | Senior legal oversight across Nuveen/TIAA fund complex |
| Nuveen, LLC | Vice President | 2010–present | Governance and execution for fund operations and filings |
| Nuveen Securities, LLC | Vice President & Assistant Secretary | 2008–present | Fund administration and governance |
| Nuveen Fund Advisors, LLC | Vice President & Assistant Secretary | 2019–present | Adviser-level governance; board liaison |
| Nuveen Asset Management, LLC | Vice President & Associate General Counsel | 2019–present | Portfolio/fund documentation and compliance |
| Teachers Advisors, LLC | Vice President & Associate General Counsel | 2019–present | Cross-complex legal work (TIAA/CREF funds) |
| TIAA-CREF Investment Management, LLC | Associate General Counsel & Assistant Secretary | 2019–present | Legal/regulatory support for TIAA-CREF funds |
External Roles
| Organization | Role | Date/Years | Strategic Impact |
|---|---|---|---|
| SEC (Division of Investment Management) | Applicant contact for relief request (Nuveen Enhanced Floating Rate Income Fund et al.) | Dec 2023 | Regulatory liaison for monthly repurchase offer exemption request |
| SEC Filings (N-CSR) | Agent for service and officer-of-record in NPFD filings | 2024 | Ensures compliance filings and shareholder reporting |
Fixed Compensation
| Item | Disclosure |
|---|---|
| Fund-paid officer compensation (NPFD) | Officers receive no compensation from the Funds |
| Compensation payer | Paid by the Adviser (Nuveen/TIAA); Funds reimburse only an allocable portion of the CCO’s incentive compensation |
| Officer election and term | Officers are elected annually by the Board and serve until successors are elected and qualified |
Performance Compensation
- No disclosed bonus/PSU/RSU/option metrics or weightings for NPFD officers; compensation for fund officers is not paid by the Funds and no performance metric alignment is disclosed in the proxy .
- CCO compensation structure is noted (base plus incentive), but not applicable to Winget; funds reimburse only part of the CCO’s incentive component .
Equity Ownership & Alignment
| Metric | NPFD Value | Source |
|---|---|---|
| Common shares outstanding (record date Feb 18, 2025) | 24,164,141 | |
| Preferred shares outstanding (TFP Series A) | 85,000 | |
| Board Members and executive officers as a group – NPFD common shares owned | 0 | |
| Group ownership as % of NPFD common shares outstanding | 0.00% | |
| Individual officer holdings (Winget) | Not individually disclosed in proxy; group <1% across funds | |
| Pledging/hedging | No pledging/hedging disclosures for officers in proxy |
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Current title and function | Vice President and Secretary | |
| Year of birth | 1968 | |
| Length of service in fund complex | Since 2008 | |
| Officer election & tenure mechanics | Officers elected annually; serve until successors elected and qualified | |
| Employment contract, severance, CoC | Not disclosed for NPFD officers in proxy | |
| Non-compete / non-solicit / garden leave | Not disclosed |
Investment Implications
- Compensation alignment: NPFD officers are not compensated by the Funds; no disclosed bonus/RSU/option metrics or vesting schedules. This limits direct pay-for-performance signal value for Winget’s role from NPFD filings .
- Insider selling pressure: No Form 4 filings indicate Winget’s personal trading in NPFD; his frequent signature under power of attorney is administrative (signing for other insiders), not indicative of his own selling pressure .
- Ownership alignment: The group of Board Members and executive officers held 0 NPFD common shares at year-end; across the fund complex, the group’s holdings are <1% per fund—suggesting minimal direct “skin-in-the-game” at the fund level for officers .
- Governance and execution risk: Winget’s long tenure and legal/governance roles across Nuveen/TIAA fund entities support operational continuity; Section 16(a) compliance was affirmed for the last fiscal year, indicating procedural rigor . NPFD’s recent 1-year returns were positive (NAV 14.87%, price 24.03%), contextualizing fund performance under the broader governance framework Winget supports .