Stayce D. Harris
About Stayce D. Harris
Stayce D. Harris (born 1959) is an Independent Board Member of BlackRock Long-Term Municipal Advantage Trust (BTA), serving since 2021. She is a retired three‑star Lieutenant General in the U.S. Air Force and a former United Airlines pilot (1990–2020). Her recent USAF roles included Inspector General (2017–2019) and Assistant Vice Chief of Staff & Director, Air Staff (2016–2017), bringing deep oversight experience in effectiveness, inspection policy, intelligence oversight, and investigations of fraud, waste, and abuse. She oversees 66 registered investment companies (RICs) comprising 101 portfolios within BlackRock’s Fixed‑Income Complex and is disclosed as independent (not an “interested person”) under the 1940 Act.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| U.S. Air Force | Inspector General (Lieutenant General) | 2017–2019 | Oversight of effectiveness, inspection policy, intelligence oversight; investigations of fraud/waste/abuse; criminal investigations and complaints resolution programs. |
| U.S. Air Force | Assistant Vice Chief of Staff & Director, Air Staff (Lieutenant General) | 2016–2017 | Senior headquarters leadership and governance oversight. |
| U.S. Air Force Reserve | Commander, 22nd Air Force (Major General) | 2014–2016 | Command leadership over operational forces. |
| United Airlines | Pilot | 1990–2020 | Commercial aviation operations experience. |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| The Boeing Company | Director | Within past five years (current listed) | Public company directorship; committees not disclosed in BTA proxy. |
| KULR Technology Group, Inc. | Director | 2021 | Public company directorship noted for 2021. |
Board Governance
- Independence and Board service: BTA’s Board has ten members, eight independent; Harris is listed as an Independent Board Member (not an “interested person”).
- Scope: Oversees 66 RICs across 101 portfolios in the BlackRock Fixed‑Income Complex, indicating broad governance reach.
| Committee | Role | Chair | Responsibilities (summary) |
|---|---|---|---|
| Compliance Committee | Member | Cynthia L. Egan | Oversees fund and service provider compliance policies/procedures; reviews regulatory actions and CCO oversight including compensation. |
| Performance Oversight Committee | Member | Arthur P. Steinmetz | Reviews performance vs. objectives/benchmarks; investment policies/restrictions; valuation controls. |
| BTA FY End | Audit Mtgs | Governance Mtgs | Compliance Mtgs | Performance Mtgs | Discount Mtgs | Securities Lending Mtgs | Executive Mtgs |
|---|---|---|---|---|---|---|---|
| 31-Jul | 9 | 6 | 4 | 4 | 1 | 2 | 0 |
Fixed Compensation
| Component | Amount/Terms | Source |
|---|---|---|
| Annual retainer (Independent Board Member) | $370,000 cash per year | |
| Committee chair retainers (schedule) | Audit $55,000; Performance Oversight $42,500; Compliance $50,000; Governance $42,500; Discount $25,000; Securities Lending $20,000 | |
| Committee member retainers (schedule) | Audit $30,000; Compliance $25,000; Governance $25,000; Discount $20,000; Securities Lending $15,000 (no separate member retainer disclosed for Performance Oversight) | |
| Deferred compensation plan | Up to 50% of total compensation may be deferred; returns mirror selected Fixed‑Income Complex funds (unfunded, unsecured obligation) | |
| Total compensation from all BlackRock‑advised funds (calendar 2023) | $395,000 (Harris) | |
| Amount deferred in 2023 | $197,500 (Harris) | |
| Deferred compensation payable (as of 12/31/2023) | $476,463 (Harris) | |
| Compensation paid by BTA (most recent FY, 31‑Jul) | $960 (Harris) |
Performance Compensation
| Metric | Structure | Notes |
|---|---|---|
| At‑risk/variable pay | None disclosed | Independent directors are compensated via fixed cash and committee retainers; proxies do not disclose equity/option awards or performance‑linked bonuses for directors. |
| Equity awards (RSUs/PSUs) | None disclosed | |
| Options | None disclosed | |
| Clawbacks/COC provisions | Not applicable to director retainers |
Other Directorships & Interlocks
| Company | Sector | Potential Interlock/Conflict with BTA |
|---|---|---|
| The Boeing Company | Aerospace & Defense | No related‑party interests with BlackRock for Independent Board Members or immediate family disclosed; municipal bond fund mandate reduces conflict risk. |
| KULR Technology Group, Inc. | Battery technology | Same as above; role noted in 2021, with no related party ties disclosed in proxy. |
Expertise & Qualifications
- Governance oversight: Experience covering inspection policy for nuclear/conventional forces, intelligence oversight, investigations of fraud/waste/abuse, and complaints resolution programs.
- Board contributions: Independence enhances service on Compliance and Performance Oversight Committees.
Equity Ownership
| Holding | Amount/Range | Date | Notes |
|---|---|---|---|
| Aggregate dollar range of common shares in BTA | $1–$10,000 | As of 12/31/2024 | Individual disclosed range. |
| Aggregate dollar range of common shares in MUA | $1–$10,000 | As of 12/31/2024 | Individual disclosed range. |
| Aggregate dollar range of common shares in Supervised Funds | $10,001–$50,000 | As of 12/31/2024 | Across BlackRock Fixed‑Income Complex. |
| Group beneficial ownership (% of outstanding) | <1% (officers & Board Members as a group) | As of 7/31/2025 | Alignment modest at fund level. |
Governance Assessment
- Committee alignment and independence: Harris is independent and sits on Compliance and Performance Oversight—two committees central to investor protection (regulatory compliance, performance oversight).
- Ownership alignment: Personal holdings in BTA/MUA are modest by dollar range, but deferral of $197,500 into fund‑linked vehicles and $476,463 deferred balance enhance alignment without equity grants.
- Engagement signals: BTA held 9 Audit, 6 Governance, 4 Compliance, and 4 Performance meetings in the most recent FY; while individual attendance percentages are not disclosed, committee cadence indicates active oversight.
- Conflicts/related parties: Proxy states none of the Independent Board Members nor immediate family had any interest in BlackRock or related control persons; no >5% beneficial owners and group holdings <1%, reducing concentrated influence risk.
RED FLAGS: None disclosed in proxy—no related‑party transactions, no director equity or option grants, and group ownership is immaterial.