Jake Schultz
About Jake Schultz
Jake Schultz (born 1996) is an executive officer of Destra Multi-Alternative Fund (DMA); he was appointed Vice President at a Board meeting on November 13, 2025, after serving as Secretary from 2021 to 2025 . Outside the Fund, he is a Partner & Director, Portfolio Oversight & Analytics at Destra Capital affiliated entities (2021–present), with prior roles in Product Management (2020–2021) and as a Product Analyst (2018–2020) . DMA’s filings do not disclose officer-specific performance metrics (e.g., TSR, revenue or EBITDA targets) or pay-for-performance frameworks for officers; the Fund pays no salaries or compensation to officers and has no employees, which limits disclosure on officer-level incentives .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Destra Multi-Alternative Fund (DMA) | Secretary | 2021–2025 | Not disclosed in filings |
| Destra Multi-Alternative Fund (DMA) | Vice President | 2025–present (appointed Nov 13, 2025) | Not disclosed in filings |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Destra Capital Management LLC; Destra Capital Investments LLC; Destra Capital Advisors LLC | Partner & Director, Portfolio Oversight & Analytics | 2021–present | Not disclosed in filings |
| Destra Capital Management/Investments/Advisors | Director, Product Management | 2020–2021 | Not disclosed in filings |
| Destra Capital Management/Investments/Advisors | Product Analyst | 2018–2020 | Not disclosed in filings |
Fixed Compensation
DMA states that it pays no salaries or compensation to officers and has no employees; officers (including Schultz) are not compensated by the Fund, and any pay would be at the adviser level (not disclosed in the proxy) .
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Fund-paid Base Salary | None (Fund pays no officer compensation) | None (Fund pays no officer compensation) |
| Target Bonus % (Fund) | Not applicable | Not applicable |
| Actual Bonus Paid (Fund) | Not applicable | Not applicable |
Performance Compensation
The Fund does not pay officers; there are no DMA-disclosed equity or cash incentive awards, vesting schedules, or performance metric linkages for officers (any such arrangements, if any, would be at Destra Capital and are not disclosed in the Fund’s proxy) .
| Incentive Type | Metric(s) | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| Fund cash bonus | Not applicable | — | — | — | — |
| Fund RSU/PSU | Not applicable | — | — | — | — |
| Fund Options | Not applicable | — | — | — | — |
Equity Ownership & Alignment
| Metric | As of FY 2024 | As of FY 2025 |
|---|---|---|
| Outstanding Shares | 8,963,239 | 8,963,239 |
| Officers (and Trustees) ownership as a group | Less than 1% of outstanding shares | Less than 1% of outstanding shares |
| Individual ownership for Jake Schultz | Not disclosed | Not disclosed |
| Shares pledged by officers | Not disclosed | Not disclosed |
Major holders context (implications for governance/liquidity):
- Saba beneficial ownership (reported value): $15,071,936.67 (as of Sep 30, 2024) ; $19,311,644 (as of Sep 30, 2025) .
- Beneficial owner positions as of the 2025 record date: Saba 24.94% of shares; Bulldog-related filers 3–4% each as reported on Schedule 13G/A, indicating a concentrated holder base .
| Beneficial Owner | FY 2024 Position | FY 2025 Position |
|---|---|---|
| Saba Capital Management, L.P. | $15,071,936.67 (value) | $19,311,644 (value) |
| Saba % of shares | 19.39% | 24.94% |
| Bulldog Investors LLP (and related filers) | Not listed in FY 2024 table | 3.13%–3.60% (various, per Schedule 13G/A) |
Notes:
- DMA’s proxy does not present a breakdown of vested vs. unvested officer equity, options, or any pledging/hedging arrangements for officers; such items are not disclosed .
Employment Terms
| Term | Detail |
|---|---|
| Current Role | Vice President (appointed at a Board meeting on Nov 13, 2025) |
| Prior Fund Role | Secretary (appointed at a special Board meeting on Apr 26, 2021; served 2021–2025) |
| Employment Contract, Term, Auto-renewal | Not disclosed in Fund filings |
| Severance / Change-in-Control | Not disclosed in Fund filings |
| Clawback / Tax gross-ups | Not disclosed in Fund filings |
| Non-compete / Non-solicit / Garden leave | Not disclosed in Fund filings |
| Post-termination consulting | Not disclosed in Fund filings |
| Section 16/30(h) compliance | Fund states required filing compliance was met in the last fiscal year |
Investment Implications
- No fund-paid compensation or equity awards for officers means there are no DMA-linked vesting cliffs or stock-based award maturities to create near-term insider selling pressure; any incentives reside at adviser Destra Capital and are not disclosed in DMA’s proxy .
- Officers and trustees as a group own less than 1% of shares, limiting direct officer “skin-in-the-game” from the fund level; alignment signals must be inferred from adviser-level roles and incentives, which are undisclosed in the proxy .
- Ownership concentration among activists/closed-end fund specialists (e.g., Saba at 24.94% as of the 2025 record date) can drive corporate actions and governance dynamics; however, this concentration is fundholder-driven, not officer-compensation-driven, and does not imply insider selling pressure by officers .
- Retention risk and pay-for-performance levers cannot be evaluated from DMA filings due to the absence of officer compensation disclosure at the fund; monitor future Item 5.02 8-Ks for role changes and Section 16 filings for any officer share transactions to gauge changing incentives or transitions .
Coverage limitations: DMA is a closed-end fund that does not compensate officers at the fund level and has no employees; compensation, severance, and incentive structures for Jake Schultz (if any) would be at the adviser (Destra Capital) and are not disclosed in DMA’s proxy materials .