Jay M. Fife
About Jay M. Fife
Jay M. Fife serves as Treasurer of BlackRock MuniYield Michigan Quality Fund, Inc. (MIY) and has held this role since 2007; he is also a Managing Director of BlackRock, Inc. (since 2007) . Officers of the Fund (other than the Chief Compliance Officer) receive no compensation from the Fund, and serve at the pleasure of the Board; their address is c/o BlackRock, Inc., 50 Hudson Yards, New York, NY 10001 . He was appointed as one of the two authorized proxies (with John M. Perlowski) for the Fund’s October 15, 2025 Joint Special Meeting .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BlackRock MuniYield Michigan Quality Fund, Inc. (MIY) | Treasurer | Since 2007 | Not disclosed |
| BlackRock, Inc. | Managing Director | Since 2007 | Not disclosed |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| BlackRock, Inc. | Managing Director | Since 2007 | External to MIY; primary employer |
Fixed Compensation
- Executive officers (other than the CCO) receive no compensation from MIY; compensation details (salary, bonus) are not disclosed at the Fund level .
Performance Compensation
- No Fund-level performance incentive structures (RSUs/PSUs/options, metrics, targets, payouts, vesting) are disclosed for executive officers; MIY does not compensate executive officers (except the CCO) .
Equity Ownership & Alignment
| Metric | Value | As-of Date |
|---|---|---|
| Officers and Board Members (group) beneficial ownership of common shares | Less than 1% of outstanding | August 1, 2025 |
- Individual beneficial ownership for Jay M. Fife, pledging, hedging, and stock ownership guideline compliance are not disclosed in MIY documents .
Employment Terms
| Term | Details |
|---|---|
| Service basis | Officers serve at the pleasure of the Board |
| Fund-level compensation | None (except CCO); no salary/bonus/equity paid by MIY |
| Address | c/o BlackRock, Inc., 50 Hudson Yards, New York, NY 10001 |
| Contract term/expiration | Not disclosed |
| Severance/change-of-control | Not disclosed |
| Non-compete/non-solicit/garden leave | Not disclosed |
| Clawbacks, gross-ups, perquisites | Not disclosed |
| Proxy authority | Appointed as proxy for the October 15, 2025 Joint Special Meeting |
Investment Implications
- Pay-for-performance linkage at MIY is not applicable for executive officers: compensation is not paid by the Fund (except for the CCO), and no Fund-level incentive metrics or vesting schedules are disclosed—reducing the ability to assess alignment via MIY filings .
- Direct equity alignment appears limited at the Fund level: officers and directors as a group own less than 1% of MIY common shares; no individual breakdown for Fife, and no pledging/hedging disclosures are provided .
- Governance/trading signal: MIY entered a standstill agreement with Saba Capital on January 20, 2025, under which Saba agrees to vote with the Board through the day following the 2027 annual meeting or August 31, 2027—this reduces near-term activism-related volatility risk at the Fund level .
- Role stability: Fife’s long tenure as Treasurer (since 2007) and Managing Director at BlackRock (since 2007) suggests continuity in fund treasury operations, but MIY filings do not disclose individual performance metrics, employment protections, or compensation structures to evaluate retention risk or pay alignment beyond the Fund’s non-compensation stance .