Scott T. Harrington
About Scott T. Harrington
Scott T. Harrington (born 1959) serves as Vice President – Administration of NYLI MacKay DefinedTerm Muni Opportunities Fund, with an indefinite term and service since 2011; he is a Managing Director at New York Life Investment Management LLC (NYLIM) since 2000 and has been on the Board of Directors of New York Life Trust Company since 2009 . Officers are considered “interested persons” due to affiliation with New York Life and its investment adviser and are elected annually by the Board for one-year terms . The proxy statements disclose trustee compensation and governance but do not present officer-level compensation or performance pay metrics (e.g., TSR, revenue, EBITDA) tied to Harrington; trustees and officers as a group owned less than 1% of the Fund’s beneficial interests as of May 31, 2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| New York Life Investment Management LLC | Managing Director | Since 2000 | Not disclosed in Fund proxy |
| NYLI MacKay DefinedTerm Muni Opportunities Fund | Vice President – Administration | Since 2011 | Not disclosed in Fund proxy |
| NYLI CBRE Global Infrastructure Megatrends Term Fund | Vice President – Administration | Since 2021 | Not disclosed in Fund proxy |
| NYLI MacKay Muni Income Opportunities Fund | Vice President – Administration | Since 2024 | Not disclosed in Fund proxy |
| New York Life Investments Funds Trust | Officer (VP/Admin) | Since 2009 | Not disclosed in Fund proxy |
| New York Life Investments Funds and VP Funds Trust | Officer (VP/Admin) | Since 2005 | Not disclosed in Fund proxy |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| New York Life Trust Company | Member of Board of Directors | Since 2009 | Not disclosed in Fund proxy |
Fixed Compensation
- Officer-specific cash compensation (base salary, target/actual bonus) is not disclosed in the Fund’s proxy statements; the filings provide trustee compensation only and list officers as “interested persons” affiliated with New York Life/NYLIM .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for officers in Fund proxy | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
- No RSU/PSU, option grants, strike prices, or vesting schedules are disclosed for Fund officers in the proxy materials .
Equity Ownership & Alignment
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Trustees & Officers group ownership (% of Fund beneficial interests) | <1% | <1% | <1% |
- Individual officer holdings (including Harrington), pledging, hedging, or ownership guideline compliance are not disclosed in the Fund proxy .
- Section 16(a) compliance is stated: based on a review of filed reports, reporting persons complied with applicable requirements and filings were timely (no officer-level transaction detail provided) .
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Position | Vice President – Administration | |
| Start year in role | 2011 | |
| Term type | Indefinite; officers serve one-year terms and are elected annually by the Board | |
| Affiliation status | Officer considered “interested person” due to NYLIM/New York Life affiliation | |
| Severance / change-of-control | Not disclosed | |
| Clawbacks / tax gross-ups | Not disclosed | |
| Non-compete / non-solicit / garden leave | Not disclosed | |
| Officer duties (general, per bylaws) | Officers include President, Secretary, Treasurer; functions and responsibilities are outlined in bylaws (e.g., financial records, notices, minutes), but no role-specific compensation terms |
Investment Implications
- Pay-for-performance visibility is low: proxies disclose trustee compensation but no officer-level cash/equity incentive structures or performance metrics tied to officer pay, limiting direct assessment of compensation alignment for Harrington .
- Retention risk looks modest on disclosed facts: Harrington’s long tenure (since 2011) and continuing senior role at NYLIM suggest institutional continuity; no severance/COC packages or retention bonuses are disclosed at the Fund level .
- Insider selling pressure signals are limited: individual officer ownership and transaction disclosures are absent in the proxy; the filing notes overall group ownership <1% and Section 16 compliance, but does not provide officer-specific Form 4 activity .
- Governance oversight is robust at the Board level (multiple committees and regular meetings), but Harrington is an officer, not a Trustee; thus, board compensation/committee data does not directly inform his incentive alignment .
Notes: If you want fund-level performance (NAV/market TSR) during Harrington’s tenure or to search EDGAR for any Form 3/4 specific to him, I can pull that next; the current MMD proxies do not include officer compensation schedules or individual ownership details .