Brian J. Lockhart
About Brian J. Lockhart
Brian J. Lockhart (born 1974) serves as Vice President of the Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) and is Senior Managing Director and Head of Investment Oversight at Nuveen; he is also Senior Managing Director of Nuveen Fund Advisors, LLC. He has served as an officer of the Funds since 2019 and holds the Chartered Financial Analyst (CFA) and Certified Financial Risk Manager (FRM) credentials . Prior roles include Managing Director (2017–2021), Vice President (2010–2017), and Team Leader of Manager Oversight (2015–2017), culminating in his leadership of investment oversight since 2017 and elevation to Senior Managing Director in 2021 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Head of Investment Oversight; Senior Managing Director | Head since 2017; SMD since 2021 | Oversees investment oversight across Nuveen fund complex |
| Nuveen Fund Advisors, LLC | Senior Managing Director | Since 2021 | Senior leadership for adviser to the Funds |
| Nuveen | Managing Director | 2017–2021 | Progression into senior leadership |
| Nuveen | Vice President | 2010–2017 | Managerial roles preceding MD/SMD |
| Nuveen | Team Leader, Manager Oversight | 2015–2017 | Led oversight of managers prior to Head of Investment Oversight |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| — | Professional certifications: Chartered Financial Analyst (CFA); Certified Financial Risk Manager (FRM) | Not disclosed | Professional qualifications supporting risk/investment oversight |
No external directorships or outside board roles are disclosed for Lockhart in the SPXX proxy filings; only certifications are noted .
Fixed Compensation
| Item | Disclosure |
|---|---|
| Fund officer compensation paid by SPXX | Officers receive no compensation from the Funds |
| Compensation source | Paid by the Adviser (Nuveen Fund Advisors, LLC); Fund reimburses Adviser only for a portion of CCO incentive compensation (not applicable to Lockhart’s role) |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for Fund officers (compensation paid by Adviser, not by SPXX) | — | — | — | — | — |
| Disclosure note | — | — | — | — | Compensation details for officers are not in the Fund proxy; officers are compensated by the Adviser |
Equity Ownership & Alignment
| Metric | Value |
|---|---|
| SPXX Common Shares Outstanding (record date Feb 18, 2025) | 17,960,021 |
| Beneficial ownership by Board Members and executive officers as a group (SPXX) | Less than 1% of outstanding shares |
As of Feb 18, 2025, each Board Member’s individual holdings in each Fund were less than 1% of the respective Fund; the Board Members and executive officers as a group beneficially owned less than 1% of outstanding shares for each Fund .
Employment Terms
| Term Element | Disclosure |
|---|---|
| Position with SPXX | Vice President |
| Employer affiliations | Senior Managing Director and Head of Investment Oversight, Nuveen; Senior Managing Director, Nuveen Fund Advisors, LLC |
| Term of office | Indefinite; elected annually to serve until successors are elected and qualified |
| Length of time served | Officer since 2019 |
| Address | 333 West Wacker Drive, Chicago, IL 60606 |
| Non-compete, non-solicit, garden leave, severance, change-of-control | Not disclosed in SPXX proxy filings (fund officers are compensated by Adviser; no officer employment agreement terms presented) |
| Section 16(a) reporting | Funds believe Board Members/officers complied with all applicable Section 16(a) filing requirements in the last fiscal year |
Investment Implications
- Alignment via fund-level compensation is limited: officers receive no compensation from SPXX and are paid by the Adviser, so pay-for-performance analysis must rely on Nuveen’s internal structures, which are not disclosed in the Fund proxy .
- Skin-in-the-game signal is modest: insider beneficial ownership (Board Members and executive officers as a group) is less than 1% of SPXX outstanding shares, suggesting low direct alignment via Fund equity; monitoring Adviser-level incentives and policies becomes more important .
- Retention risk appears contained: Lockhart’s tenure as an officer since 2019 and progression to Senior Managing Director/Head of Investment Oversight indicate institutional continuity in oversight functions .
- Compliance signal: Funds report Section 16(a) compliance for Board Members/officers in the last fiscal year, reducing governance-risk concerns tied to reporting failures .