Albin F. Moschner
About Albin F. Moschner
Independent Board Member of Nuveen New York AMT-Free Quality Municipal Income Fund (NRK); joined the Nuveen fund boards in 2016. Born 1952; B.E. in Electrical Engineering (City College of New York, 1974) and M.S. in Electrical Engineering (Syracuse University, 1979). Career includes CEO/COO roles at Zenith Electronics and Leap Wireless; President roles at Verizon Card Services and One Point Communications; currently Founder/CEO of Northcroft Partners (management consulting) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Zenith Electronics Corporation | President & CEO (1995–1996); President & COO (1994–1995) | 1994–1996 | Led consumer electronics operations |
| Leap Wireless International, Inc. | COO (2008–2011); CMO (2004–2008); Consultant (2011–2012) | 2004–2012 | Operational leadership in consumer wireless |
| Verizon Communications, Inc. – Verizon Card Services | President | 2000–2003 | Consumer finance operations |
| One Point Communications | President, One Point Services | 1999–2000 | Telecom services leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| USA Technologies, Inc. | Chairman (2019); Director (2012–2019) | 2012–2019 | Electronic payments solutions; Chairman in 2019 |
| Wintrust Financial Corporation | Director | 1996–2016 | Regional financial services company |
| Kellogg School of Management | Advisory Board (Emeritus since 2018) | 1995–2018 | Business school advisory role |
| Archdiocese of Chicago Financial Council | Advisory Board (Emeritus since 2018) | 2012–2018 | Financial oversight advisory |
Board Governance
- Independence: All NRK Board Members, including Moschner, are “Independent Board Members”; none have been employees or directors of TIAA/Nuveen or affiliates .
- Board class/term: For funds with Preferred Shares (including NRK), Moschner is a nominee for a term expiring at the next annual meeting (Preferred Share election); for funds without Preferred Shares, he serves as Class II/III with terms expiring at 2027 annual meeting .
- Committee assignments:
- Closed-End Fund Committee: Chair .
- Compliance, Risk Management and Regulatory Oversight Committee: Member .
- Nominating & Governance Committee: Member .
- Investment Committee: Member .
- Attendance: Each Board Member attended at least 75% of Board and applicable committee meetings in the last fiscal year .
- Independent Chair: Robert L. Young serves as Independent Chair of the Board .
NRK Board and Committee Meetings (last fiscal year)
| Meeting Type | Count |
|---|---|
| Regular Board Meetings | 4 |
| Special Board Meetings | 7 |
| Executive Committee Meetings | 3 |
| Dividend Committee Meetings | 10 |
| Compliance Committee Meetings | 4 |
| Audit Committee Meetings | 14 |
| Nominating & Governance Committee Meetings | 6 |
| Investment Committee Meetings | 3 |
| Closed-End Fund Committee Meetings | 4 |
Fixed Compensation
- Structure evolution:
- CY 2023: $210,000 annual retainer; meeting fees per committee type; Board Chair $140,000; committee chairs $20,000; per-day/site visit fees; fees allocated pro rata across funds .
- Through Dec 31, 2024: $350,000 annual retainer; annual committee membership retainers ($30k Audit/Compliance; $20k Investment; $20k Dividend/Nominating/Closed-End); chair add-ons (Board $140k; Audit/Compliance $30k; Investment $20k; Dividend/Nominating/Closed-End $20k) .
- Effective Jan 1, 2025: $350,000 annual retainer; annual committee membership retainers increased ($35k Audit/Compliance; $30k Investment; $25k Dividend/Nominating/Closed-End); chair add-ons increased (Board $150k; Audit/Compliance $35k; Investment $30k; Dividend/Nominating/Closed-End $25k) .
| Component | CY 2023 | Through Dec 31, 2024 | Effective Jan 1, 2025 |
|---|---|---|---|
| Annual Retainer (Independent Board Member) | $210,000 | $350,000 | $350,000 |
| Audit Committee Member Retainer | $0 (meeting fees applied) | $30,000 | $35,000 |
| Compliance Committee Member Retainer | $0 (meeting fees applied) | $30,000 | $35,000 |
| Investment Committee Member Retainer | $0 (meeting fees applied) | $20,000 | $30,000 |
| Dividend Committee Member Retainer | $0 (meeting fees applied) | $20,000 | $25,000 |
| Nominating & Governance Member Retainer | $0 (meeting fees applied) | $20,000 | $25,000 |
| Closed-End Fund Member Retainer | $0 (meeting fees applied) | $20,000 | $25,000 |
| Board Chair Add-On | $140,000 | $140,000 | $150,000 |
| Audit/Compliance Chair Add-On | $20,000 | $30,000 | $35,000 |
| Investment Chair Add-On | $20,000 | $20,000 | $30,000 |
| Dividend/Nom/Gov/CEF Chair Add-On | $20,000 | $20,000 | $25,000 |
Moschner Compensation – NRK and Fund Complex
| Metric | FY ended Feb 29, 2024 | Stub Mar 1–Aug 31, 2024 | Notes |
|---|---|---|---|
| Aggregate Compensation from NRK | $5,912 | $2,326 | Fiscal year-end changed; both periods shown |
| Total Compensation from Nuveen Funds (Fund Complex) | $481,250 | — | Includes allocations across all Nuveen funds overseen |
| Deferred Compensation (NRK) | $0 | $0 | Moschner did not defer NRK fees in these periods |
Performance Compensation
- No performance-based compensation, stock awards, or options are granted to directors; Nuveen funds have no retirement/pension plans for Board Members .
- Deferred Compensation Plan is available for certain funds; Moschner had $0 deferred for NRK in FY2024 and the stub period .
- No director-specific performance metrics, clawbacks, severance, change-of-control, or tax gross-ups are disclosed for independent Board Members in the proxy .
Other Directorships & Interlocks
- Current/Recent Public Company Boards: None currently disclosed for Moschner; prior roles include USA Technologies (Chairman/Director) and Wintrust Financial (Director) .
- Potential interlocks/conflicts: None disclosed involving Moschner with NRK’s adviser or service providers; table of board member holdings in adviser-affiliated companies lists Thomas J. Kenny, not Moschner .
Expertise & Qualifications
- Technical and operating expertise across telecom, wireless, and consumer electronics; led marketing and operations at Leap Wireless; senior leadership at Verizon Card Services .
- Governance experience as chairman/director at public companies; founder/operator of consulting firm focusing on operational and governance solutions .
Equity Ownership
| Fund | Dollar Range (as of May 31, 2025) | Shares Beneficially Owned (as of May 31, 2025) |
|---|---|---|
| NRK (New York AMT-Free Quality Municipal Income Fund) | $0 | 0 |
| Municipal High Income (NMZ) | $50,000–$100,000 | 7,136 |
| Aggregate in all Nuveen registered investment companies overseen | Over $100,000 | — |
- Ownership guideline: Board expects each Board Member to invest at least the equivalent of one year of compensation in the funds in the Fund Complex (directly or on a deferred basis); individual holdings are less than 1% of any Fund’s outstanding shares as of June 20, 2025 .
Governance Assessment
- Strengths:
- Independent status and extensive operating experience; committee breadth including risk, governance, and investment oversight .
- Chair of Closed-End Fund Committee directly focused on discounts, leverage, and capital actions—key for closed-end fund shareholder outcomes .
- Attendance threshold met; comprehensive committee framework supports risk oversight and valuation governance .
- Alignment/Signals:
- Aggregate fund complex ownership over $100k indicates some alignment; however, no direct NRK share ownership as of May 31, 2025 .
- Compensation shifted toward higher fixed committee retainers in 2025, with increased chair/member fees—supports greater engagement but increases guaranteed cash vs. meeting-based fees used in 2023 .
- Potential Conflicts/Red Flags:
- No related-party transactions or pledging/hedging disclosures involving Moschner; adviser-affiliated company holdings table did not list Moschner (lists Thomas J. Kenny’s vehicles) .
- Section 16 compliance: Funds report compliance in last fiscal year; no delinquent filings noted; individual insider trading data for Moschner not disclosed in the proxy .
- NRK-specific: Preferred shareholders elect Moschner annually; this structure can influence board composition dynamics for the fund with preferred share classes .
Overall, Moschner presents as an experienced, independent director with leadership of the Closed-End Fund Committee and broad committee membership. Lack of direct NRK shareholding is a modest alignment gap relative to fund-specific ownership, partially offset by aggregate complex exposure and the board’s investment guideline expectation .