Jeremy D. Franklin
About Jeremy D. Franklin
Jeremy D. Franklin (born 1983) serves as Vice President and Assistant Secretary of Nuveen Municipal Value Fund, Inc. (NUV), with an indefinite term and service since 2024. He is Managing Director and Assistant Secretary of Nuveen Fund Advisors, LLC, and a Vice President/Associate General Counsel and Assistant Secretary across affiliated entities including Nuveen Asset Management, Teachers Advisors, LLC, TIAA‑CREF Investment Management, LLC, TIAA Separate Account VA‑1, and the College Retirement Equities Fund; he has previously held various roles at TIAA . Officers of the Funds receive no compensation from the Funds .
Past Roles
| Organization | Role | Years | Strategic impact/notes |
|---|---|---|---|
| Nuveen Municipal Value Fund, Inc. | Vice President and Assistant Secretary | Since 2024; term indefinite | Fund officer elected annually; officers receive no compensation from the Funds |
| Nuveen Fund Advisors, LLC | Managing Director and Assistant Secretary | Past 5 years (current) | Legal/corporate secretary functions supporting fund governance |
| Nuveen Asset Management, LLC | Vice President, Associate General Counsel and Assistant Secretary | Past 5 years (current) | Legal and assistant secretary roles across Nuveen complex |
| Teachers Advisors, LLC | Vice President, Associate General Counsel and Assistant Secretary | Past 5 years (current) | Legal and assistant secretary roles |
| TIAA‑CREF Investment Management, LLC | Vice President, Associate General Counsel and Assistant Secretary | Past 5 years (current) | Legal and assistant secretary roles |
| Teachers Insurance and Annuity Association of America (TIAA) | Vice President and Associate General Counsel | Past 5 years (current) | Legal role; prior positions at TIAA |
| TIAA Separate Account VA‑1 and CREF | Vice President, Associate General Counsel and Assistant Secretary | Past 5 years (current) | Legal and assistant secretary roles |
External Roles
| Organization | Role | Years | Strategic impact/notes |
|---|---|---|---|
| TIAA‑CREF Funds; TIAA‑CREF Life Funds | Vice President and Assistant Secretary | Past 5 years (current) | Legal and assistant secretary roles |
Fixed Compensation
- Officers of the Funds (including the Vice President and Assistant Secretary) receive no compensation from the Funds .
- The Funds’ Chief Compliance Officer (CCO) compensation (base and incentive) is paid by the Adviser; the Funds reimburse the Adviser for an allocable portion of the CCO’s incentive compensation (structure disclosure; not officer‑specific) .
Performance Compensation
- Not disclosed for Fund officers; the proxy focuses on Independent Board Member compensation and confirms that Fund officers are uncompensated by the Funds .
Equity Ownership & Alignment
- As of June 20, 2025, Board Members and executive officers as a group beneficially owned less than 1% of the outstanding shares of each Fund .
- Group beneficial ownership by fund (Board Members and officers as a group), as of May 31, 2025:
- NUV (Municipal Value): 0 shares
- Quality Income: 35,764 shares
- Credit Income: 28,757 shares
- New York AMT‑Free: 1,000 shares
- Individual officer holdings (including Franklin) are not itemized; only the group totals are presented .
- Stock ownership guidelines: The Board has a governance principle expecting each Board Member to invest at least one year of compensation in the Fund Complex; this principle applies to Board Members, not officers .
- Pledging/hedging by officers: No officer‑level hedging or pledging policy disclosure located in the proxy .
Employment Terms
| Term element | Disclosure |
|---|---|
| Election and term | Officers are elected annually by the Board and serve until successors are elected and qualified; Franklin’s term is indefinite and service has been since 2024 |
| Employment agreement | Not disclosed in the proxy for officers |
| Severance and change‑of‑control | Not disclosed for officers; independent Board compensation is detailed separately |
| Non‑compete / non‑solicit / garden leave | Not disclosed for officers |
Investment Implications
- Pay‑for‑performance linkage at the Fund level is minimal for Franklin: Fund officers receive no compensation from the Funds, and the proxy does not disclose adviser‑level officer incentive metrics or vesting schedules; therefore, traditional pay‑performance signals are not available from Fund disclosures .
- Insider selling pressure risk is low at the Fund level: with no Fund‑paid equity grants and group holdings <1% across the funds, there is limited direct alignment or selling pressure tied to Fund‑level compensation; individual officer ownership is not disclosed .
- Retention and contract economics are opaque: absence of officer employment, severance, and change‑of‑control terms in the proxy elevates uncertainty; retention risk is primarily tied to Nuveen/TIAA corporate arrangements outside Fund disclosures .
- Governance and operating context: Franklin’s roles span legal and assistant secretary functions across Nuveen/TIAA entities, indicating deep involvement in governance and administration rather than portfolio performance drivers; trading signals from officer compensation/actions are limited in this structure .