Marc Cardella
Vice President and Controller (Principal Financial Officer) at Nuveen S&P 500 Dynamic Overwrite Fund
Executive
About Marc Cardella
Marc Cardella (year of birth: 1984) serves as Vice President and Controller (Principal Financial Officer) of Nuveen S&P 500 Dynamic Overwrite Fund (SPXX), with an indefinite term and service since 2024. He is Senior Managing Director and Head of Public Investment Finance at Nuveen, and holds senior roles across TIAA affiliates; he is Principal Financial Officer, Principal Accounting Officer, and Treasurer for TIAA Separate Account VA-1 and the College Retirement Equities Fund . Officers receive no compensation from the Funds; compensation for the Chief Compliance Officer is paid by the Adviser (Nuveen), with an allocable reimbursement for a portion of the CCO’s incentive compensation by the Funds .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Senior Managing Director; Head of Public Investment Finance | Not disclosed | Leads public investment finance, supporting fund finance and controls . |
| Teachers Advisors, LLC | Senior Managing Director | Not disclosed | Senior leadership supporting advisory and investment management operations . |
| TIAA-CREF Investment Management, LLC | Senior Managing Director | Not disclosed | Senior leadership across investment management processes . |
| Teachers Insurance and Annuity Association of America | Managing Director | Not disclosed | Senior leadership supporting TIAA investment platforms . |
| TIAA SMA Strategies LLC | Managing Director | Not disclosed | Senior leadership of SMA strategies and product support . |
| TIAA Separate Account VA-1; College Retirement Equities Fund | Principal Financial Officer, Principal Accounting Officer, Treasurer | Not disclosed | Principal financial reporting, accounting oversight, and treasury responsibilities . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed in SPXX filings | — | — | No external directorships or outside board roles disclosed for Cardella in the SPXX proxy . |
Fixed Compensation
- Officers receive no compensation from the Funds; officer compensation is not disclosed at the Fund level (base salary, target/actual bonus are not reported in SPXX filings) .
- Independent Board Members’ retainers/fees are disclosed separately (not applicable to officers), including increases effective Jan 1, 2024 and Jan 1, 2025; these govern trustees, not the Fund’s officers .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for officers of SPXX; no Fund-level equity awards (RSUs/PSUs/options) reported for officers | — | — | — | — | — |
Equity Ownership & Alignment
| Metric | Value |
|---|---|
| SPXX Common Shares Outstanding (record date Feb 18, 2025) | 17,960,021 |
| Shares owned by Board Members and officers as a group (SPXX, as of Dec 31, 2024) | 0 |
| Group beneficial ownership vs outstanding | Less than 1% of outstanding shares for each Fund, including SPXX (record date Feb 18, 2025) |
- Board Members follow a governance principle expecting investment of at least the equivalent of one year of compensation in Nuveen funds (applies to trustees; officer ownership guidelines are not disclosed) .
Employment Terms
| Term | Disclosure |
|---|---|
| Position | Vice President and Controller (Principal Financial Officer) |
| Term of office | Indefinite |
| Length of time served | Since 2024 |
| Election/renewal | Officers are elected annually by the Board to serve until successors are elected and qualified |
| Compensation source | Officers receive no compensation from the Funds; CCO comp paid by Adviser with allocable reimbursement for a portion of CCO incentive comp by the Funds |
Investment Implications
- Alignment: No Fund-paid officer compensation and zero reported group holdings in SPXX reduce direct pay-for-performance alignment at the Fund level; incentives likely reside at the Adviser/TIAA entities and are not disclosed in Fund filings .
- Insider selling pressure: Absence of disclosed Fund-level equity awards (RSUs/options) for officers implies limited vesting-driven selling pressure from Fund awards; Section 16 compliance noted at the Fund level without individual transaction detail in the proxy .
- Governance/continuity: Cardella’s PFO role since 2024 and senior finance leadership across Nuveen/TIAA supports operational continuity in financial reporting and controls; employment terms are indefinite with annual officer elections, minimizing short-term transition risk .