Joseph A. Boateng

About Joseph A. Boateng

Independent director born in 1963; joined the Nuveen funds boards in 2024 with length of service in the fund complex noted “since 2019.” He is Chief Investment Officer of Casey Family Programs (since 2007) and previously Director of U.S. Pension Plans at Johnson & Johnson (2002–2006). Education: B.S. University of Ghana; M.B.A. UCLA. Designated an SEC “audit committee financial expert.” Term classification: Class II director with term expiring at the 2026 annual meeting.

Past Roles

External Roles

Board Governance

• Independence: Listed among “Board Members/Nominees who are not interested persons” and serves solely on independent committees; designated an SEC audit committee financial expert.
• Committee assignments:
  • Investment Committee: Co-Chair.
  • Audit Committee: Member; financial expert.
  • Nominating & Governance Committee: Member.
  • Not listed on Executive, Dividend, or Compliance Committees.
• Term and service: Class II; term expires at 2026 annual meeting; “Length of Service: Since 2019” in fund complex; joined current Boards in 2024.
• Meeting cadence (NRK—New York Quality Income): FY (ended Feb 28/29) held 4 Regular Board, 7 Special Board, 3 Executive, 10 Dividend, 4 Compliance, 14 Audit, 6 Nominating & Governance, 3 Investment, 4 Closed-End Fund Committee meetings. “Stub” period thereafter held 3 Regular, 3 Special, 4 Executive, 4 Dividend, 2 Compliance, 7 Audit, 2 N&G, 2 Investment, 2 Closed-End. Attendance by director not disclosed.

Fixed Compensation

Deferred Compensation Elections (book-reserve amounts, FY ended Mar 31, 2025)

Performance Compensation

• No performance-linked metrics, stock awards, PSUs, or options are disclosed for independent Board Members; compensation comprises cash retainers and committee fees, with optional deferred compensation elections. Funds do not have retirement or pension plans for directors.

Other Directorships & Interlocks

• No disclosure of current public company board directorships for Boateng; table of director investments in companies under common control lists Thomas J. Kenny, not Boateng.

Expertise & Qualifications

• Institutional investment leadership as CIO; pension plan governance experience; designated SEC audit committee financial expert; M.B.A. UCLA; broad non-profit and public pension investment committee experience.

Equity Ownership

Governance Assessment

• Strengths:
  • Co-Chair of the Investment Committee, indicating high engagement in performance and risk oversight.
  • Audit Committee member and designated SEC “financial expert,” enhancing financial reporting oversight quality.
  • Independent status with broad fiduciary background (CIO, pension governance, non-profit committees).
• Alignment and incentives:
  • Board principle expects each director to invest at least one year’s compensation in the fund complex; Boateng’s disclosed aggregate dollar range (“Over $100,000”) is below the current annual retainer level ($350,000), suggesting a potential shortfall in ownership guideline compliance, though exact amounts are not disclosed.
  • Participates in Deferred Compensation Plan across multiple Nuveen funds, which partially aligns incentives to fund performance.
• Potential conflicts:
  • No related-party transactions or holdings in companies under common control are disclosed for Boateng; the proxy’s common-control holdings table lists other directors, not Boateng.
• Attendance/engagement signals:
  • Board and committee meeting volumes are high (e.g., 14 Audit Committee meetings at NRK’s FY), but individual attendance rates are not disclosed.

RED FLAGS: Possible shortfall against director stock ownership guideline (aggregate “Over $100,000” vs guideline of one year’s compensation), and zero direct ownership in NRK; absence of disclosed individual attendance metrics limits verification of engagement.