David J. Lamb
About David J. Lamb
David J. Lamb is Chief Administrative Officer (Principal Executive Officer) of Nuveen AMT‑Free Municipal Credit Income Fund (NVG), serving as an officer since 2015; he was born in 1963 and is based at 333 West Wacker Drive, Chicago, IL. His principal occupations during the past five years include Senior Managing Director roles at Nuveen Fund Advisors, LLC, Nuveen Securities, LLC, and Nuveen, with prior positions across Nuveen entities. Officers receive no compensation from the Funds, and the proxy does not disclose Lamb’s individual compensation metrics, equity awards, or pay‑for‑performance targets; the proxy notes he filed a late Form 4 related to the sister fund “Credit Income.”
- Current role and tenure: Chief Administrative Officer (PEO); Length of service since 2015; Year of birth 1963; primary address 333 W. Wacker Drive, Chicago, IL 60606
- Principal occupations (past five years): Senior Managing Director at Nuveen Fund Advisors, LLC; Senior Managing Director at Nuveen Securities, LLC; Senior Managing Director at Nuveen
- Compensation disclosure: Officers receive no compensation from the Funds (compensation paid by Adviser; no fund‑level salary/bonus/awards disclosed)
- Compliance note: David Lamb filed a late Section 16 Form 4 with respect to Credit Income (NZF) in the prior year
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Fund Advisors, LLC | Senior Managing Director | Past 5 years (as disclosed) | Senior leadership across fund administration and governance within Nuveen complex |
| Nuveen Securities, LLC | Senior Managing Director | Past 5 years (as disclosed) | Broker‑dealer governance and fund distribution oversight |
| Nuveen (parent) | Senior Managing Director | Past 5 years (as disclosed) | Enterprise leadership across Nuveen/TIAA fund complex |
External Roles
- None disclosed for David J. Lamb in the NVG proxy statements
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Base Salary | Not disclosed | Officers receive no compensation from the Funds; compensation is paid by the Adviser (Nuveen) and is not reported in fund proxies |
| Target Bonus % | Not disclosed | No fund‑level bonus disclosure for officers |
| Actual Bonus Paid | Not disclosed | No fund‑level bonus disclosure for officers |
| Perquisites | Not disclosed | No officer perquisite disclosure in fund proxy |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — |
- The proxy does not report officer RSUs/PSUs/options, performance metrics (e.g., revenue, EBITDA, TSR), or vesting schedules for officers
Equity Ownership & Alignment
| Holder Group | NVG Shares (May 31, 2024) | NVG Shares (May 31, 2025) |
|---|---|---|
| Board Members and Officers as a Group | 2,500 | 5,575 |
- Individual officer ownership is not itemized; the proxy states each Board Member’s individual beneficial shareholdings of each Fund constituted less than 1% of outstanding, and the Board Members and executive officers as a group beneficially owned less than 1% of outstanding shares of each Fund as of the record dates
- No officer pledging or hedging disclosures are presented in the NVG proxy (Board holding expectations apply to Board Members, not officers)
Employment Terms
| Term Element | Disclosure |
|---|---|
| Position | Chief Administrative Officer (Principal Executive Officer) |
| Term of Office | Indefinite; officers are elected by the Board on an annual basis to serve until successors are elected and qualified |
| Length of Service | Since 2015 (officer of funds in the Nuveen fund complex) |
| Compensation Source | Officers receive no compensation from the Funds; CCO compensation is paid by the Adviser with partial reimbursement; officer compensation otherwise not disclosed at fund level |
| Contracts/Severance/Change‑of‑Control | Not disclosed for officers in fund proxies |
| Clawbacks/Tax Gross‑ups | Not disclosed for officers in fund proxies |
| Non‑compete/Non‑solicit | Not disclosed for officers in fund proxies |
Investment Implications
- Alignment: Lack of disclosed fund‑level compensation and equity awards for officers limits visibility into pay‑for‑performance alignment specific to NVG; compensation resides at Nuveen/TIAA and is not reported in fund proxies .
- Retention risk: Term is indefinite with annual Board election of officers; no disclosed employment agreements, severance, or change‑of‑control provisions at the fund level, leaving retention economics opaque .
- Trading signals: A prior late Form 4 filing by Lamb (for Credit Income/NZF) is a minor compliance flag; monitoring future Section 16 filings across Nuveen closed‑end funds may identify insider selling pressure or timing signals .
- Ownership: Group beneficial ownership in NVG is de minimis (<1%); limited direct equity exposure at the fund level reduces alignment signal from personal holdings .
Net takeaway: For closed‑end Nuveen funds, officer compensation is off‑fund and undisclosed in proxies; without fund‑level incentive structures or itemized officer holdings, pay‑performance and vesting pressure signals are not observable from NVG disclosures. The late Form 4 warrants ongoing monitoring, but no persistent red flags or change‑of‑control economics are disclosed at the fund level.