William A. Siffermann
About William A. Siffermann
William A. Siffermann is a Vice President of the Nuveen Municipal Credit Income Fund (ticker: NZF) and a Senior Managing Director at Nuveen, with fund officer service since 2017; his year of birth is 1975 and his business address is 333 West Wacker Drive, Chicago, IL 60606 . He is additionally identified as Manager of Fund Board Relations for shareholder and nominating committee communications, indicating a governance-facing remit across fund board processes . NZF is a closed-end fund; fund officer compensation and performance metrics such as TSR, revenue, or EBITDA are not tied to fund-level officer pay and are not disclosed in fund filings—officers receive no compensation from the Funds and are compensated by Nuveen (the Adviser) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Nuveen | Vice President | 2011–2016 | Progression into senior leadership roles supporting Nuveen’s fund complex . |
| Nuveen | Senior Vice President | 2016–2017 | Expanded responsibilities ahead of Managing Director appointment . |
| Nuveen | Managing Director (Senior Managing Director in recent proxies) | 2017–Present | Current executive leadership role; listed as Senior/Managing Director in officer tables . |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Not disclosed in NZF proxies | — | — | Proxies list Nuveen roles for Siffermann; no external directorships or public roles are disclosed for the past five years . |
Fixed Compensation
- Officers receive no compensation from the Funds; they are elected annually by the Board, and officer compensation (base and incentive) is paid by the Adviser (Nuveen). The Funds reimburse the Adviser for an allocable portion of the CCO’s incentive compensation; no fund-paid base salary, target bonus, or actual bonus amounts for Siffermann are disclosed .
Performance Compensation
- No fund-level equity awards (RSUs/PSUs) or option awards are disclosed for fund officers; officers “receive no compensation from the Funds.” Consequently, no fund-linked performance metrics, weightings, targets, or payouts are disclosed for Siffermann .
Equity Ownership & Alignment
- Beneficial ownership tables in the proxies disclose holdings for Independent Board Members and for “All Board Members/Nominees and Officers as a Group” by fund, but do not itemize individual officer holdings. Siffermann’s personal NZF share ownership, vested/unvested breakdown, option holdings, and any pledging or hedging are not disclosed in the fund’s proxy materials .
- Share ownership guidelines and compliance status are provided for Independent Board Members via a deferred compensation framework; officer ownership guidelines are not discussed in NZF proxies .
Employment Terms
| Item | Disclosure |
|---|---|
| Officer title | Vice President of the Fund; Senior/Managing Director at Nuveen . |
| Officer term | Indefinite; officers are elected annually to serve until successors are elected and qualified . |
| Length of service | Since 2017 (fund officer) . |
| Compensation source | Paid by Nuveen (Adviser); officers receive no compensation from the Funds . |
| Severance / change-of-control | Not disclosed for fund officers in NZF proxies . |
| Clawbacks / tax gross-ups | Not disclosed for fund officers in NZF proxies . |
| Non-compete / non-solicit | Not disclosed for fund officers in NZF proxies . |
| Board/governance interface | Manager of Fund Board Relations for shareholder and nominating communications . |
Investment Implications
- Pay-for-performance analysis is constrained: NZF officers receive no fund-paid compensation, and no fund-linked incentive metrics, equity awards, or options are disclosed for Siffermann—limiting direct alignment signals and eliminating fund-driven insider selling pressure from vesting/option exercises .
- Retention and contract economics (severance, change-of-control) reside with Nuveen employment terms and are not disclosed in fund filings; retention risk cannot be evaluated from NZF proxies—monitor Nuveen disclosures for any future employment changes .
- Governance continuity: Siffermann’s Manager of Fund Board Relations role suggests operational influence over board communication workflows and shareholder engagement processes, which supports board effectiveness during events like board consolidation across Nuveen/TIAA fund complexes (see Item 5.02 8-K on board consolidation) .
- Trading signals: Absence of fund-level equity incentives and option grants for officers reduces the typical cadence of Form 4-driven selling/buying pressure tied to vesting; monitor public filings for any future individual ownership disclosures or Nuveen-level incentives that could indirectly affect insider activity .