Brett E. Black
About Brett E. Black
Brett E. Black (year of birth: 1972) serves as Vice President and Chief Compliance Officer (CCO) of Nuveen Virginia Quality Municipal Income Fund (NPV), with an indefinite term and service since 2022; he is also Managing Director and CCO of Nuveen . Prior roles include Vice President (2014–2022), Chief Compliance Officer and Anti-Money Laundering Compliance Officer (2017–2022) at BMO Funds, Inc. . Fund filings state officers receive no compensation from the Fund; the CCO’s compensation is paid by the Adviser (Nuveen), with Board review/input, and the Funds reimburse an allocable portion of the Adviser’s cost of the CCO’s incentive compensation . The proxy does not disclose officer-specific performance metrics, TSR, revenue growth, or EBITDA growth tied to compensation .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Managing Director; Chief Compliance Officer | Current | Not disclosed |
| BMO Funds, Inc. | Vice President; Chief Compliance Officer; Anti-Money Laundering Compliance Officer | 2014–2022 (AMLCO 2017–2022) | Not disclosed |
External Roles
No external directorships or public board roles for Brett E. Black are disclosed in the Fund’s proxy .
Fixed Compensation
- Officers receive no compensation from the Fund; the CCO’s compensation is paid by the Adviser (Nuveen), with Board review/input, and the Funds reimburse an allocable portion of the Adviser’s cost of the CCO’s incentive compensation .
- Specific amounts (base salary, target bonus, actual bonus) for the CCO are not disclosed at the Fund level .
Performance Compensation
No officer-specific performance metrics (e.g., revenue growth, EBITDA, TSR, ESG goals), incentive weighting, targets, or payout formulas are disclosed by the Fund for the CCO .
Equity Ownership & Alignment
| Ownership Metric | Value | Notes |
|---|---|---|
| Individual beneficial ownership (Brett E. Black) | Not disclosed | Officers as individuals are not itemized in holdings tables |
| Group beneficial ownership (Board Members and executive officers as a group) | <1% of NPV outstanding shares | As of February 18, 2025 |
| Shares pledged as collateral | Not disclosed | No pledging disclosures for officers in proxy |
| Stock ownership guidelines (Board) | Expected to invest at least one year of compensation in Fund Complex | Board governance principle; officer guidelines not specified |
Employment Terms
| Term Element | Details |
|---|---|
| Position | Vice President and Chief Compliance Officer |
| Term | Indefinite |
| Length of Service | Since 2022 |
| Compensation source | Paid by Adviser (Nuveen); Funds reimburse allocable portion of incentive compensation |
| Contract term/expiration | Not disclosed |
| Severance & Change-of-control | Not disclosed (no Fund-level officer severance/multiples/accelerated vesting terms) |
| Clawback provisions | Not disclosed for officers |
| Non-compete/Non-solicit | Not disclosed |
| Deferred compensation | Fund-level deferred comp applies to Independent Board Members, not officers |
Investment Implications
- Alignment: Officer pay is set and paid by the Adviser (Nuveen) and not the Fund, with only partial reimbursement of incentive compensation by the Fund; there is no Fund-level disclosure of performance-tied incentive metrics for the CCO, limiting pay-for-performance assessment at the Fund level .
- Insider selling pressure: With Board Members and executive officers as a group owning less than 1% of NPV shares and no individual officer holdings disclosed, equity-driven selling pressure signals appear limited from disclosed data .
- Retention/contract risk: Employment terms for the CCO are indefinite with no Fund-level disclosure on severance, change-of-control, or restrictive covenants; retention economics and exit protections cannot be assessed from Fund filings .
- Governance: Board Members follow ownership expectations and provide oversight of the CCO’s compensation structure and compliance function; however, this does not provide visibility into officer-specific incentive design or performance calibration .
Note: NPV’s proxy focuses on trustee elections and Board governance; as a closed-end Fund with no employees, it does not disclose individual officer compensation packages, equity grants, or contractual protections. All conclusions reflect only the disclosures available in Fund filings.