Nathaniel T. Jones
About Nathaniel T. Jones
Nathaniel T. Jones serves as Vice President and Treasurer of Nuveen Variable Rate Preferred & Income Fund (NPFD), with an indefinite term and service since 2016; he is a Senior Managing Director at Nuveen and Nuveen Fund Advisors, LLC and is a Chartered Financial Analyst (CFA) . Year of birth: 1979; principal occupations over the past five years include Senior Managing Director (since 2021), Managing Director (2017–2021), Senior Vice President (2016–2017), and Managing Director of Nuveen Fund Advisors, LLC (since 2015) . NPFD’s funds have no employees, and fund officers receive no compensation from the Fund; compensation details for officers (salary/bonus/equity metrics) are not disclosed in NPFD’s proxy statements . Fund-level performance metrics (TSR, revenue, EBITDA) and executive-specific performance tie-ins are not disclosed in the proxy materials .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Senior Managing Director | 2021–Present | Senior leadership over fund finance/treasury functions for Nuveen closed‑end funds |
| Nuveen | Managing Director | 2017–2021 | Advanced operations/oversight responsibilities at Nuveen |
| Nuveen | Senior Vice President | 2016–2017 | Progression within Nuveen leadership |
| Nuveen Fund Advisors, LLC | Managing Director | 2015–Present | Senior role at the Fund’s adviser |
External Roles
No external directorships or committee roles disclosed for Nathaniel T. Jones in NPFD proxy officer biographies .
Fixed Compensation
| Component | FY Reference | Amount/Detail |
|---|---|---|
| Fund-paid base salary | Latest proxy | $0; officers receive no compensation from NPFD (paid by the Adviser) |
| Target bonus % | Latest proxy | Not disclosed (officer comp paid by Adviser, not reported by NPFD) |
| Actual bonus paid | Latest proxy | Not disclosed (officer comp paid by Adviser, not reported by NPFD) |
| Perquisites (aircraft, security, etc.) | Latest proxy | Not disclosed |
| Pension/SERP | Latest proxy | Not disclosed; NPFD funds do not have retirement or pension plans |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Executive metrics tied to compensation (e.g., TSR, revenue, EBITDA, ESG) | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Note: NPFD proxies state officers receive no compensation from the Funds and provide no executive incentive metric disclosures; officer compensation is paid by Nuveen (Adviser) and not reported in fund proxies . |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership (individual) | Not disclosed for Nathaniel T. Jones in proxy; officers’ individual holdings not itemized |
| Officers/Board group ownership of NPFD | As of Dec 31, 2024, Board Members and officers as a group owned 0 NPFD shares |
| Ownership as % of outstanding | As of Feb 18, 2025, each Board Member’s individual beneficial shareholdings of each Fund were <1%, and Board Members and executive officers as a group beneficially owned <1% of outstanding shares of each Fund |
| Shares outstanding (context) | NPFD Common Shares: 24,164,141; NPFD TFP Series A Preferred Shares: 85,000 (record date Feb 18, 2025) |
| Vested vs unvested shares | Not disclosed for officers |
| Options (exercisable/unexercisable) | Not disclosed for officers in proxies |
| Pledging as collateral | No pledging disclosures for officers in proxy materials |
| Stock ownership guidelines | Governance principle applies to Board Members (expected to invest at least one year of compensation in complex funds); no officer ownership guideline disclosed |
Employment Terms
| Term | Detail |
|---|---|
| Employment start date in officer role | Service as fund officer since 2016 |
| Current role tenure | Senior Managing Director since 2021 |
| Contract term length | Indefinite (officer appointment by Board) |
| Severance provisions | Not disclosed (officers compensated by Adviser; fund proxies do not report officer employment agreements) |
| Change‑of‑control economics | Not disclosed for officers |
| Non‑compete / non‑solicit | Not disclosed |
| Clawbacks | Not disclosed |
| Deferred compensation elections | Applies to Independent Board Members via Deferred Compensation Plan; not to officers |
| Garden leave / post‑termination consulting | Not disclosed |
Investment Implications
- Alignment and selling pressure signals are limited: NPFD does not disclose officer compensation or equity awards; fund officers receive no compensation from NPFD (paid by Nuveen), and group holdings in NPFD were 0 shares as of Dec 31, 2024, constraining inference on pay‑for‑performance alignment and insider selling pressure from fund filings .
- Retention risk appears modest: Jones has served since 2016 with progression to Senior Managing Director (2021), indicating stability; however, severance, change‑of‑control, and non‑compete terms are not disclosed, as officer arrangements reside with the Adviser and are outside fund proxy reporting .
- Trading and vesting signals: Form 4 filings would be required to assess RSU/option grants, exercises, and any 10b5‑1 sales; NPFD proxies note Section 16(a) compliance but do not enumerate officer transactions—monitor SEC Form 4s and Item 5.02 8‑Ks for any changes in officer appointments/compensatory arrangements .
- Governance context: Board oversight is robust via committee structure; Board Members have an ownership expectation in the fund complex, but that policy does not extend to officers, and NPFD provides no officer ownership guidelines—focus monitoring on Adviser disclosures for executive incentives and Nuveen‑level policies .