Stayce D. Harris
About Stayce D. Harris
Independent director of MIY since 2021 (year of birth: 1959). A retired U.S. Air Force Lieutenant General, Harris served as Inspector General of the USAF (2017–2019), Assistant Vice Chief of Staff and Director, Air Staff (2016–2017), and Commander, 22nd Air Force (2014–2016); she was also a commercial pilot at United Airlines (1990–2020). She oversees 68 registered investment companies (RICs) consisting of 103 portfolios across the BlackRock fixed-income complex and has served on the boards of KULR Technology Group and The Boeing Company, signaling strong operational, compliance, and safety oversight expertise relevant to fund governance and risk controls .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| United States Air Force | Inspector General | 2017–2019 | Senior compliance, audit, and investigations leadership |
| United States Air Force | Assistant Vice Chief of Staff & Director, Air Staff | 2016–2017 | Enterprise operations, policy, and strategy oversight |
| United States Air Force | Commander, 22nd Air Force (AFRC) | 2014–2016 | Large-scale command management; mission readiness |
| United Airlines | Pilot | 1990–2020 | Operational safety and complex systems operations experience |
External Roles
| Company | Role | Tenure/Notes |
|---|---|---|
| The Boeing Company | Director | Current public company directorship (aerospace) |
| KULR Technology Group, Inc. | Director | Director in 2021 (battery thermal management) |
Board Governance
- Board structure: MIY’s board has 10 members, of which 8 are Independent Board Members (not “interested persons” under the 1940 Act) .
- Leadership: Chair of the Board is R. Glenn Hubbard (since 2022); Vice Chair is W. Carl Kester (since 2022) .
- Independence: Harris is listed among the board members in the biographical table and is not an “interested person,” indicating independent status .
- Shareholder engagement: Shareholders can address the Board or individual members via the Fund Secretary; accounting concerns can be sent to the CCO or, anonymously, to the Audit Committee Chair, indicating established escalation channels .
- Activism context: Standstill agreements with Saba Capital (effective through the earlier of the 2027 annual meeting completion or Aug 31, 2027) and with Karpus Management (effective until May 3, 2027 or 10 days before the 2027 record date) shape the near-term governance environment and voting outcomes .
Note: Committee assignments (e.g., Audit, Governance/Nominating) and attendance rates are not enumerated in this joint proxy statement/prospectus.
Fixed Compensation
- Director cash retainers, committee fees, and meeting fees are not disclosed in this joint proxy statement. With the exception of the CCO, officers receive no compensation from the Funds; CCO is compensated by the Acquiring Fund (MYI) .
- No disclosure here of director deferred compensation elections, stock ownership guidelines, or chair fees for MIY’s board.
Performance Compensation
- No performance-based director compensation (options/PSUs/RSUs) or pay metrics are disclosed for MIY in this document. No vesting schedules or equity award terms are provided in this proxy.
Other Directorships & Interlocks
| Director | Public Boards (Last 5 Years) | Potential Interlocks/Notes |
|---|---|---|
| Stayce D. Harris | The Boeing Company; KULR Technology Group, Inc. | No disclosed related-party transactions with BlackRock or its affiliates; roles unrelated to MIY’s municipal bond mandate . |
Expertise & Qualifications
- Compliance and oversight: Former Inspector General of the USAF, indicating deep audit, investigations, and compliance leadership .
- Operational leadership: Senior USAF roles and airline pilot background support risk, safety, and operational judgment .
- Board scope: Oversees 68 RICs/103 portfolios in the BlackRock Fixed-Income Complex, suggesting significant governance workload and cross-fund perspective .
Equity Ownership
As of December 31, 2024:
| Holder | MVT (Aggregate $ Range) | MIY (Aggregate $ Range) | MVF (Aggregate $ Range) | MYI Acquiring Fund (Aggregate $ Range) | Aggregate in Supervised Funds |
|---|---|---|---|---|---|
| Stayce D. Harris | $1–$10,000 | None | None | $1–$10,000 | Over $100,000 |
Additional ownership context:
- As of August 1, 2025, officers and Board Members of each Fund, as a group, beneficially owned less than 1% of outstanding common shares of each Fund .
- Independent Board Members and their immediate families did not beneficially own securities of the Investment Advisor or its control affiliates and had no material interest in transactions with the Funds or BlackRock affiliates during the last two calendar years, reinforcing independence and low related-party risk .
Governance Assessment
- Strengths
- Independent status with substantial compliance and oversight credentials (USAF Inspector General) supports Audit/Compliance oversight effectiveness if assigned .
- No related-party transactions or advisor-affiliate holdings by independent directors, reducing conflict risk .
- Clear shareholder communication and whistleblower channels (including anonymous submissions to Audit Chair) bolster accountability .
- Alignment
- Personal share ownership in MYI ($1–$10,000) signals some skin-in-the-game; however, MIY line shows “None,” and group ownership is <1%, so economic alignment is modest in the fund complex context .
- Risks/Red Flags to Monitor
- Activist standstills (Saba, Karpus) reduce near-term proxy contest risk but may constrain shareholder voice and can create perceptions of entrenchment if not paired with performance improvements and discount management execution .
- Lack of disclosed committee assignments and attendance metrics in this proxy limits transparency into Harris’s specific governance contributions and workload balance across committees.
- No disclosure of director compensation schedules or ownership guidelines in this document; investors may wish to review MIY/MYI historical proxies or SAIs for detail.
Items not disclosed in this document: committee memberships/chair roles, attendance rates, director fee schedules, equity or option awards for directors, ownership guidelines compliance, and any specific compensation consultant engagements. All data above sourced from the 2025 joint proxy statement/prospectus unless noted.
Citations: