Joseph T. Castro
About Joseph T. Castro
Vice President of Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) with an indefinite term, serving since 2025; business address 333 West Wacker Drive, Chicago, IL 60606; year of birth 1964. Principal role at Nuveen: Executive Vice President, Chief Risk and Compliance Officer; formerly Senior Managing Director and Head of Compliance, and Senior Managing Director at Nuveen Fund Advisors, LLC, Nuveen Securities, LLC and Nuveen, LLC . Fund officers receive no compensation from the Funds; compensation for the Funds’ Chief Compliance Officer is paid by the Adviser, with an allocable portion of incentive compensation reimbursed by the Funds . As of February 18, 2025, each Board Member’s individual beneficial holdings in each Fund were <1% and Board Members and executive officers as a group beneficially owned <1% of the outstanding shares of each Fund .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Executive Vice President, Chief Risk and Compliance Officer | Not disclosed | Enterprise risk and compliance oversight across Nuveen/TIAA fund complex |
| Nuveen | Senior Managing Director & Head of Compliance | Not disclosed | Led compliance function, policies, and controls |
| Nuveen Fund Advisors, LLC | Senior Managing Director | Not disclosed | Senior leadership within fund advisory operations |
| Nuveen Securities, LLC | Senior Managing Director | Not disclosed | Compliance and regulatory oversight of broker-dealer activities |
| Nuveen, LLC | Senior Managing Director | Not disclosed | Corporate compliance leadership |
External Roles
No external directorships or roles disclosed for Castro in the SPXX 2025 DEF 14A officer table .
Fixed Compensation
Fund officers are unpaid; compensation is not paid by SPXX.
| Component | FY 2024 |
|---|---|
| Fund-level officer compensation ($) | $0 (officers receive no compensation from the Funds) |
The Funds’ Chief Compliance Officer’s compensation (base + incentive) is paid by the Adviser, with the Funds reimbursing an allocable portion of the CCO’s incentive compensation .
Performance Compensation
- No cash bonuses, equity awards (RSUs/PSUs), or options disclosed at the Fund level for officers; compensation occurs at the Adviser (Nuveen/TIAA) rather than SPXX .
- No vesting schedules, performance metric weightings, or payout mechanics disclosed for Castro in Fund filings .
Equity Ownership & Alignment
| Metric | 2024-12-31 | 2025-02-18 |
|---|---|---|
| Officers and Board as a group SPXX shares owned (shares) | 0 | Not disclosed |
| Group ownership as % of SPXX outstanding | Not disclosed | <1% |
| SPXX common shares outstanding (shares) | — | 17,960,021 |
- Individual officer holdings in SPXX are not itemized; only group totals are provided and show 0 shares as of 12/31/2024 .
- Board Member investments policy applies to trustees (expected to invest at least one year of compensation in funds in the complex), not officers .
- No pledging or hedging by officers disclosed; no stock ownership guidelines for officers disclosed .
Employment Terms
| Term | Details |
|---|---|
| Title | Vice President (SPXX) |
| Start date (Fund officer) | Since 2025 |
| Term length | Indefinite; officers elected annually by the Board to serve until successors are elected and qualified |
| Compensation source | Officers receive no compensation from the Funds; CCO compensation paid by Adviser with partial reimbursement for incentive |
| Severance / change-of-control | Not disclosed in Fund filings |
| Non-compete / non-solicit | Not disclosed in Fund filings |
Investment Implications
- Alignment and insider pressure: With officers and Board as a group holding 0 SPXX shares at year-end 2024 and <1% of shares outstanding as of the 2025 record date, insider selling pressure appears minimal at the Fund level; alignment relies on governance/oversight rather than direct share ownership .
- Pay-for-performance visibility: No Fund-level compensation (cash or equity) is paid to officers; any pay-for-performance incentives would be at the Adviser and are not disclosed in SPXX filings, limiting analysis of Castro’s incentive alignment specific to SPXX .
- Retention risk: Officers serve on an indefinite term and are elected annually; there are no disclosed employment contracts, severance, or change-of-control economics for Castro at the Fund level, suggesting low explicit retention mechanisms within SPXX itself (retention driven by Adviser policies) .
- Governance signal: Castro’s role as EVP and Chief Risk & Compliance Officer at Nuveen indicates robust compliance oversight across the complex, which can mitigate operational/regulatory risks for SPXX; however, this is a qualitative governance signal rather than a trading catalyst .
- Regulatory compliance: Funds report that Board Members and officers complied with Section 16(a) filing requirements over the last fiscal year, suggesting disciplined governance practices .