Stephen Minar
About Stephen Minar
Stephen Minar (born 1984) serves as Vice President of BlackRock MuniYield Pennsylvania Quality Fund (MPA) since 2025; he is a Managing Director at BlackRock, Inc. since 2023 and previously served as Director from 2018–2023 (address: 50 Hudson Yards, New York, NY 10001) . Executive officers receive no compensation from the Funds (the CCO is compensated by the Acquiring Fund), so Fund-level salary/bonus/equity for Minar is not disclosed or paid by MPA . On initial beneficial ownership reporting (Form 3, May 2025), Minar reported no securities beneficially owned in MPA .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BlackRock, Inc. | Director | 2018–2023 | Not disclosed |
| BlackRock, Inc. | Managing Director | 2023–Present | Not disclosed |
| BlackRock MuniYield Pennsylvania Quality Fund (MPA) | Vice President | Since 2025 | Officer; executed regulatory filings (e.g., Rule 23c‑2 redemption notice) |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BlackRock MuniYield Quality Fund, Inc. (MQY) | Vice President | 2025 | Signatory on Articles of Amendment related to VRDP Shares |
Fixed Compensation
- Executive officers receive no compensation from the Funds; the Acquiring Fund (MQY) compensates the CCO. No Fund-paid base salary, bonus, or perquisites for Minar are disclosed or paid by MPA .
Performance Compensation
- No Fund-level incentive plans (RSUs/PSUs/options) for executive officers are disclosed; compensation metrics, targets, weightings, payouts, or vesting tied to MPA are not applicable/disclosed (officers are compensated by BlackRock, not the Fund) .
Equity Ownership & Alignment
| Item | Detail | As-of | Source |
|---|---|---|---|
| Total beneficial ownership (MPA securities) | 0 shares | May 16, 2025 | Form 3 (Minar; Vice President) |
| Ownership as % of shares outstanding | Not disclosed | — | — |
| Vested vs. unvested shares | Not applicable | — | — |
| Options (exercisable/unexercisable) | None disclosed at Fund level | — | — |
| Shares pledged as collateral | None disclosed | — | — |
| Stock ownership guidelines (Fund) | None disclosed for officers | — | — |
Employment Terms
- Position and start: Vice President of MPA since 2025 .
- Officers serve at the pleasure of the Board; contract term, severance, change-of-control, non-compete/non-solicit, garden leave, consulting arrangements are not disclosed at the Fund level .
- Address: c/o BlackRock, Inc., 50 Hudson Yards, New York, NY 10001 .
Performance & Track Record
- Governance execution: Signed Notification of Redemption (Rule 23c‑2) for Series W‑7 VRDP Shares (MPA), authorizing potential redemptions during Oct 11, 2025–Apr 1, 2026; signature as Vice President .
- Reorganization execution: Signatory on Articles of Amendment for MQY’s VRDP Shares in connection with multi‑Fund reorganization proposals .
- Activism context: MPA entered a standstill agreement with Saba Capital (effective until completion of the 2027 annual meeting or Aug 31, 2027), including voting commitments and restrictions on proxy activity; filed Jan 21, 2025 .
Investment Implications
- Pay-for-performance alignment at the Fund level is minimal for Minar: executive officers receive no compensation from the Funds, and Minar reported zero beneficial ownership in MPA, limiting traditional alignment levers (salary/bonus/equity) and insider trading signals .
- Retention and incentive dynamics are driven by BlackRock, Inc. (employer), not by Fund-specific contracts; Fund-level severance/change-of-control economics and vesting constructs are not disclosed .
- Insider selling pressure: With no reported MPA holdings and no Form 4 activity referenced here, near-term insider selling signals are absent .
- Governance stability: The 2025 standstill with Saba reduces near-term proxy contest risk and imposes voting commitments through 2027, potentially stabilizing governance dynamics, distributions, and reorganization execution timelines .