Jeremy D. Franklin
About Jeremy D. Franklin
Jeremy D. Franklin (born 1983) serves as Vice President and Assistant Secretary of NPV; he has held officer roles across the Nuveen/TIAA fund complex and has served in his current capacity since 2024 . Officers of the Fund receive no compensation from the Funds; compensation for certain compliance roles (e.g., the CCO) is paid by the Adviser, indicating executive pay is not set or disclosed at the fund level . The proxy does not disclose individual officer pay, incentive metrics, or fund-level TSR/EPS/EBITDA performance for executive pay analysis; board-focused compensation and governance are detailed instead .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Fund Advisors, LLC | Managing Director; Assistant Secretary | Past 5 years (principal occupations); service in current officer role since 2024 | Legal, governance and fund administration support across the Nuveen fund complex |
| Nuveen Asset Management, LLC | Vice President; Associate General Counsel; Assistant Secretary | Past 5 years | Legal advisory and documentation for asset management and fund entities |
| Teachers Advisors, LLC | Vice President; Associate General Counsel; Assistant Secretary | Past 5 years | Legal/compliance oversight across TIAA-affiliated fund platforms |
| TIAA‑CREF Investment Management, LLC | Vice President; Associate General Counsel; Assistant Secretary | Past 5 years | Legal counsel supporting investment management operations |
| Teachers Insurance and Annuity Association of America (TIAA) | Vice President; Associate General Counsel | Past 5 years | Corporate legal responsibilities within TIAA |
| TIAA Separate Account VA‑1; College Retirement Equities Fund (CREF) | Vice President; Associate General Counsel; Assistant Secretary | Past 5 years | Governance and legal administration for insurance separate account and CREF |
| TIAA‑CREF Funds; TIAA‑CREF Life Funds | Vice President; Assistant Secretary | Past 5 years | Registered fund governance and filings support |
| TIAA (prior roles) | Various positions | Previously held various roles (dates not specified) | Broader institutional experience within TIAA |
External Roles
No external directorships or committee roles disclosed for Jeremy D. Franklin in the NPV proxies reviewed .
Fixed Compensation
| Component | Disclosure Status | Notes |
|---|---|---|
| Base Salary | Not disclosed at fund level | Officers receive no compensation from the Funds; proxy does not disclose individual officer compensation. CCO comp is paid by the Adviser, implying officer pay is set/paid by Nuveen/TIAA rather than at the fund level . |
| Target Bonus % / Actual Bonus | Not disclosed | No officer bonus data disclosed in fund proxy . |
| Perquisites (aircraft, security, etc.) | Not disclosed | No officer perquisite disclosures in fund proxy . |
| Pension/SERP/Deferred Comp | Not disclosed for officers | Deferred compensation applies to Independent Board Members via a plan; not applicable to officers . |
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Officer incentives (RSUs/PSUs/Options) | Not disclosed | — | — | — | — | — |
| Fund-level performance metrics linked to officer pay | Not disclosed | — | — | — | — | — |
The proxies state officers receive no compensation from the Funds, and do not provide pay-for-performance frameworks or equity award details for officers; board compensation is retainer- and committee-based and separate from officer pay .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Individual holdings (Jeremy D. Franklin) | Not individually disclosed in Appendix A tables . |
| Executive officers and Board as a group | Beneficially owned less than 1% of the outstanding shares of each Fund as of Feb 18, 2025 . |
| Stock ownership guidelines | Governance principle applies to Board Members (expected to invest at least one year of compensation); no officer ownership guideline disclosed . |
| Pledging/Hedging | Not disclosed for officers; Appendix tables focus on Board Members . |
Employment Terms
| Term | Detail |
|---|---|
| Position | Vice President and Assistant Secretary |
| Start/Length of Service | Length of service: Since 2024 |
| Officer election/tenure mechanics | Officers are elected by the Board on an annual basis to serve until successors are elected and qualified; officers receive no compensation from the Funds . |
| Employment agreement, severance, CoC | Not disclosed in fund proxy for officers . |
| Non‑compete / Non‑solicit / Garden leave | Not disclosed . |
| Clawback provisions | Not disclosed for officers; board deferred comp mechanics disclosed separately . |
Investment Implications
- Compensation alignment: As officers receive no compensation from the Funds and officer pay is not disclosed in the proxy, traditional pay‑for‑performance levers (salary/bonus/equity tied to fund metrics) are unavailable for assessing alignment; any compensation and retention dynamics would be determined by Nuveen/TIAA employment arrangements outside the Fund’s proxy .
- Ownership/skin‑in‑the‑game: Executive officers and Board Members as a group hold less than 1% of outstanding shares across the funds, with no individual officer disclosures; this limits direct equity alignment signals at the fund level .
- Vesting/selling pressure: No RSU/PSU/options or vesting schedules are disclosed for officers; without Form 4 data in the proxies, insider selling pressure analysis cannot be drawn from these documents .
- Retention risk and CoC: No officer employment agreement, severance, or change‑of‑control terms are disclosed; retention/incentive structures appear governed by Nuveen/TIAA policies rather than fund-level documents .
- Governance context: Board compensation and committee retainers are clearly specified, with increased retainers effective Jan 1, 2024 and further increases effective Jan 1, 2025; however, these are Board-level and do not translate to officer incentives for Jeremy D. Franklin .
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