DEF: Nuveen Funds Announce Annual Shareholder Meeting to Elect Board Members

Nuveen funds are holding their annual shareholder meeting on April 17, 2025, to elect members to the Board of Trustees.

Summary

• Nuveen funds will hold their Annual Meeting of Shareholders on April 17, 2025, as a virtual meeting.
• Shareholders of record as of February 18, 2025, are entitled to vote.
• The primary purpose of the meeting is to elect Board Members for various funds, with different classes of Board Members being elected by common and preferred shareholders, or preferred shareholders only, depending on the fund.
• Shareholders can vote by mail, telephone, or over the Internet.
• The Joint Proxy Statement is first being mailed to shareholders on or about March 7, 2025.
• The Board of each Fund is divided into three classes, Class I, Class II and Class III, to be elected by the holders of the outstanding Common Shares and any outstanding Preferred Shares, voting together as a single class, to serve until the third succeeding annual meeting subsequent to their election or thereafter, in each case until their successors have been duly elected and qualified.
• For each Fund with Preferred Shares outstanding, under normal circumstances, holders of Preferred Shares are entitled to elect two (2) Board Members.
• The Board unanimously recommends that shareholders vote FOR the election of the nominees.

Sentiment

Score: 7

Explanation: The document is a standard proxy statement, which is generally neutral in tone. The recommendation to vote for the nominees suggests a positive outlook from the board's perspective.

Positives

• The meeting is being held virtually, allowing for broader participation.
• Shareholders have multiple options for voting, including mail, telephone, and internet.
• The Board is recommending a vote FOR the election of the nominees.

Risks

• Failure of a quorum to be present at any Annual Meeting will necessitate adjournment and will subject that Fund to additional expense.

Future Outlook

The document outlines the process for the upcoming annual meeting and provides information for shareholders to participate in the election of Board Members.

Management Comments

• The Board of each Fund has determined that the use of this Joint Proxy Statement for each Annual Meeting is in the best interest of each Fund and its shareholders in light of the similar matters being considered and voted on by the shareholders.
• The Board unanimously recommends that shareholders vote FOR the election of the nominees.

Industry Context

This announcement is a standard procedure for publicly traded investment funds, ensuring shareholder participation in corporate governance through the election of board members.

Comparison to Industry Standards

• The structure of the Board with different classes and the process for electing them is typical for closed-end funds.
• The virtual meeting format aligns with current trends in shareholder meetings, promoting accessibility.
• The detailed disclosure of Board Member qualifications and compensation is consistent with regulatory requirements and industry best practices.
• The process for shareholder proposals and communications is in line with SEC regulations and corporate governance standards.

Stakeholder Impact

• Shareholders have the opportunity to influence the governance of the funds through the election of Board Members.
• The composition of the Board can impact the funds' investment strategies and performance.
• The meeting provides a platform for shareholders to raise questions and concerns with management.

Next Steps

• Shareholders should review the proxy statement and vote on the election of Board Members.
• Shareholders can attend the virtual Annual Meeting on April 17, 2025.
• The newly elected Board Members will serve until their successors are duly elected and qualified.

Key Dates