Jay M. Fife
About Jay M. Fife
Jay M. Fife serves as Treasurer of BlackRock MuniHoldings Fund, Inc. (MHD), an officer role he has held since 2007; he is also a Managing Director of BlackRock, Inc. since 2007 and was born in 1970 . Officers (other than the CCO) receive no compensation from the Fund; the CCO is compensated by the Acquiring Fund for CCO services . Officers serve at the pleasure of the Board . Performance metrics such as TSR or revenue/EBITDA growth for officers are not disclosed in the Fund’s proxy materials.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BlackRock MuniHoldings Fund, Inc. (MHD) | Treasurer | Since 2007 | Not disclosed |
| BlackRock, Inc. | Managing Director | Since 2007 | Not disclosed |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| None disclosed in MHD proxy |
Fixed Compensation
| Component | Amount/Terms | Source | Notes |
|---|---|---|---|
| Fund cash compensation | None (officers receive no compensation from the Funds, except CCO) | Fund-level salary/bonus not applicable | |
| Address/administrative affiliation | c/o BlackRock, Inc., 50 Hudson Yards, New York, NY 10001 | Indicates BlackRock employment; compensation governed by BlackRock, not the Fund |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not applicable for Fund officers | — | — | — | — | Officers receive no compensation from the Fund; CCO is the exception |
Equity Ownership & Alignment
| Item | Disclosure | Source | Notes |
|---|---|---|---|
| Total beneficial ownership (shares) | Not disclosed for officers in proxy | MHD proxy provides officer biographies but does not provide officer beneficial ownership tables; directors’ details are presented separately | |
| Ownership as % of shares outstanding | Not disclosed | ||
| Vested vs. unvested shares | Not disclosed | ||
| Options (exercisable/unexercisable) | Not disclosed | ||
| Shares pledged as collateral | Not disclosed | ||
| Hedging/pledging policies | Not disclosed in officer context | Policy references in the joint proxy pertain to Fund investment restrictions, not personal officer policies |
Employment Terms
| Term | Details | Source |
|---|---|---|
| Appointment basis | Officers serve at the pleasure of the Board | |
| Compensation arrangement | Officers (except CCO) receive no compensation from the Funds | |
| Employment agreements, non-compete/non-solicit | Not disclosed | |
| Severance and change-of-control | Not disclosed | |
| Clawback provisions | Not disclosed |
Additional Governance Notes
- Jay M. Fife is named (with John Perlowski) as a proxy holder for special shareholder meetings (administrative/agent role) .
- Portfolio management for the Fund is led by a separate team; Fife’s role is as Fund Treasurer, not portfolio manager .
Investment Implications
- Compensation alignment: No Fund-level pay for officers implies that standard “pay-for-performance” levers (salary, bonus, PSUs/RSUs, options, vesting schedules) do not apply at the Fund level; any incentives are governed by BlackRock employment policies and are not disclosed in MHD’s proxy .
- Insider selling pressure: Absent disclosure of officer beneficial ownership in MHD and with no Fund-level compensation, typical insider-selling signals are not available; monitor external Form 4 filings if any exist for MHD officers.
- Retention risk: Officers serve at the pleasure of the Board; no disclosed employment agreements, severance, or change-of-control economics for Fund officers suggests limited contractual retention protections, but these details would be set by BlackRock employment, not the Fund .
- Governance: Fife’s long tenure (Treasurer since 2007) indicates continuity in Fund operations; however, without disclosed ownership or compensation metrics, alignment assessment is constrained, and trading signals from executive incentives are structurally limited at the Fund level .