Albin F. Moschner
About Albin F. Moschner
Independent Board Member of the Nuveen Municipal Credit Income Fund (NZF) since 2016; year of birth 1952. Founder and Chief Executive Officer of Northcroft Partners, LLC (since 2012); prior senior operating and marketing roles in telecom and consumer electronics, including COO/CMO at Leap Wireless, President of Verizon Card Services, and CEO of Zenith Electronics. Degrees: B.E. (Electrical Engineering) from The City College of New York; M.S. (Electrical Engineering) from Syracuse University . Term: serving until the 2025 annual shareholder meeting and nominee for a term until the 2026 annual meeting for funds with preferred shares; class assignments vary by fund (Class II/III as disclosed) .
Past Roles
| Organization | Role | Tenure (years) | Committees/Impact |
|---|---|---|---|
| Northcroft Partners, LLC | Founder & CEO | Since 2012 | Management consulting leadership |
| Leap Wireless International, Inc. | Consultant; Chief Operating Officer; Chief Marketing Officer | 2011–2012; 2008–2011; 2004–2008 | Operations and marketing oversight |
| Verizon Communications, Inc. (Verizon Card Services) | President | 2000–2003 | Consumer credit services leadership |
| One Point Communications | President, One Point Services | 1999–2000 | Services business leadership |
| Diba, Incorporated | Vice President of the Board | 1996–1997 | Internet technology firm board role |
| Zenith Electronics Corporation | CEO; President & COO; prior executive roles | 1991–1996; CEO 1995–1996; President & COO 1994–1995 | Corporate turnaround and leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| USA Technologies, Inc. | Chairman (2019); Director | 2012–2019 | Payments/IoT vending; chaired in 2019 |
| Wintrust Financial Corporation | Director | 1996–2016 | Regional bank board experience |
| Kellogg School of Management (Advisory Board) | Emeritus | Since 2018; member 1995–2018 | Advisory capacity |
| Archdiocese of Chicago Financial Council (Advisory) | Emeritus | Since 2018; member 2012–2018 | Advisory capacity |
Board Governance
| Governance Element | Disclosure |
|---|---|
| Independence | Committees (Nominating & Governance; Investment) are composed entirely of Independent Board Members; Moschner is a member, indicating independent status . |
| Committees | Chair: Closed-End Fund Committee . Member: Nominating & Governance ; Investment ; Compliance, Risk Management & Regulatory Oversight . |
| Attendance | Each Board Member attended 75% or more of Board and applicable committee meetings during the last fiscal year . |
| Years of Service | Since 2016; nominee for a new term through 2026 (for funds with preferred shares) . |
| Class/Terming | Class II/III assignments vary by fund; e.g., Class III for several funds; Class II for Municipal Income . |
Fixed Compensation
| Component | 2024 Structure (through Dec 31, 2024) | 2025 Structure (effective Jan 1, 2025) |
|---|---|---|
| Annual retainer (Independent Board Member) | $350,000 | $350,000 |
| Audit Committee membership retainer | $30,000 | $35,000 |
| Compliance Committee membership retainer | $30,000 | $35,000 |
| Investment Committee membership retainer | $20,000 | $30,000 |
| Dividend Committee membership retainer | $20,000 | $25,000 |
| Nominating & Governance membership retainer | $20,000 | $25,000 |
| Closed-End Funds Committee membership retainer | $20,000 | $25,000 |
| Chair adders (Board/Committees) | Board Chair $140,000; Audit & Compliance Chairs $30,000; Investment Chair $20,000; Dividend/Nominating/Closed-End Funds Chairs $20,000 | Board Chair $150,000; Audit & Compliance Chairs $35,000; Investment Chair $30,000; Dividend/Nominating/Closed-End Funds Chairs $25,000 |
| Ad hoc meeting fees | $1,000–$2,500 depending on length/immediacy | $1,000–$2,500 depending on length/immediacy |
Notes specific to Moschner:
- As Chair of the Closed-End Fund Committee, he is eligible for the Closed-End Funds Committee Chair retainer ($25,000 in 2025) in addition to the membership retainer for that committee ($25,000 in 2025) .
- He is also a member of the Compliance ($35,000), Investment ($30,000), and Nominating & Governance ($25,000) Committees under the 2025 structure .
Performance Compensation
| Element | Disclosure |
|---|---|
| Equity awards (RSUs/PSUs) | Not used for Independent Board Members; compensation consists of retainers/fees allocated among funds . |
| Options | Not used/none disclosed for Independent Board Members . |
| Performance metrics | None disclosed for director pay; no revenue/EBITDA/TSR-based metrics for Independent Board Members . |
| Deferred compensation | Participating funds offer an elective Deferred Compensation Plan; distributions can be lump sum or over 2–20 years . |
| Deferred fees outstanding (Moschner) | $0 reported across the “Total deferred fees payable” table entries for Moschner, indicating no current deferrals outstanding . |
| Retirement/pension | Funds do not have retirement or pension plans for Independent Board Members . |
Director Compensation (Actuals)
| Metric | Amount |
|---|---|
| Total compensation from Nuveen Funds paid to Albin F. Moschner (most recent disclosed totals across funds) | $481,250 |
| Per-meeting/site visit fees (legacy 2023 structure) | Meeting/day rates as disclosed; no equity; expenses reimbursed |
Other Directorships & Interlocks
| Company | Role | Period | Potential Interlock/Conflict Notes |
|---|---|---|---|
| USA Technologies, Inc. | Chairman (2019); Director | 2012–2019 | No NZF-related transaction disclosed in proxy excerpts. |
| Wintrust Financial Corporation | Director | 1996–2016 | No NZF-related transaction disclosed in proxy excerpts. |
| Holdings in companies advised by affiliates (conflict screen) | — | — | The proxy’s conflict table shows entries for another director (Thomas J. Kenny); no such entries are shown for Moschner in the excerpt, implying no disclosed related holdings of this type for him . |
Expertise & Qualifications
- Deep operating and marketing experience across telecom and consumer electronics; prior CEO experience at Zenith and senior roles at Leap Wireless and Verizon .
- Founder/CEO of a management consulting firm; broad board experience in financial services and technology-enabled services .
- Education: B.E., City College of New York (1974); M.S., Syracuse University (1979) .
Equity Ownership
| Item | Disclosure |
|---|---|
| Ownership policy | Each Board Member is expected to invest at least one year of compensation in funds within the Fund Complex (direct or deferred) . |
| Beneficial ownership in each Fund | Each Board Member’s individual holdings in each Fund were less than 1% of outstanding shares as of June 20, 2025 . |
| Ownership detail tables | Dollar ranges and share counts are provided in Appendix A of the proxy (not excerpted in retrieved sections) . |
| Hedging/pledging | No hedging/pledging disclosures for Moschner identified in retrieved excerpts. |
Governance Assessment
- Strengths
- Independent director with multi-committee engagement and subject-matter breadth; chairs the Closed-End Fund Committee, which directly oversees premiums/discounts, leverage use, and market dynamics for Nuveen closed-end funds including NZF .
- Active on Compliance (risk management/regulatory oversight), Investment (performance and risk), and Nominating & Governance committees—indicates broad oversight and governance depth .
- Attendance threshold met (≥75% of Board and committee meetings) and long-tenured since 2016—signals experience and familiarity with fund-specific issues .
- Alignment and pay design
- Cash-based compensation with committee and chair retainers; no equity/options reduces misalignment/short-term risk-taking concerns typical of equity-linked pay, but also reduces explicit performance linkage; elective deferred compensation available but Moschner shows $0 deferred fees outstanding in current disclosure .
- Ownership principle (one-year compensation invested across the fund complex) supports alignment; individual holdings per fund remain <1% as customary for fund trustees .
- Conflicts and red flags
- No related party transactions or affiliate-advised company holdings disclosed for Moschner in the conflict table excerpt; contrasted with disclosures for another director (Thomas J. Kenny) .
- No retirement plans, tax gross-ups, or change-in-control provisions for Independent Board Members disclosed; compensation framework appears standardized and transparent .
- RED FLAGS: None identified in retrieved proxy excerpts (no low attendance, no related-party transactions, no option repricings). Continued monitoring of aggregate compensation levels versus responsibilities remains prudent given a sizable total across funds ($481,250) .
Note: Meeting counts and individual fund-level ownership details are referenced to Appendices in the proxy and were not included in the retrieved excerpts; conclusions are based on the sections cited above.