Jay M. Fife
About Jay M. Fife
Jay M. Fife (born 1970) serves as Treasurer of BlackRock MuniHoldings California Quality Fund, Inc. (MUC) and has held this officer role since 2007; he is also a Managing Director of BlackRock, Inc. since 2007, with officer service at the pleasure of the Board and business address c/o BlackRock, 50 Hudson Yards, New York, NY 10001 . Proxy disclosures state that—except for the Chief Compliance Officer—executive officers receive no compensation from the Funds, and no TSR/revenue/EBITDA performance metrics are tied to MUC officer compensation in the proxy .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BlackRock, Inc. | Managing Director | Since 2007 | Not disclosed |
| BlackRock MuniHoldings California Quality Fund, Inc. (MUC) | Treasurer | Since 2007 | Not disclosed |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed in proxy biographies for the past five years | — | — | The biography lists BlackRock Managing Director and Fund Treasurer only . |
Fixed Compensation
- Executive officers (including the Treasurer) receive no compensation from the Funds; only the Chief Compliance Officer is compensated by the Fund for CCO services .
- Base salary, bonus, equity/option awards, and perquisites for Jay M. Fife are not disclosed at the Fund level (these are BlackRock employment matters, not Fund-paid) .
Performance Compensation
- No Fund-paid performance incentive framework applies to executive officers; therefore no metrics, targets, payouts, or vesting are disclosed for Jay M. Fife at MUC .
Equity Ownership & Alignment
- Executive/Board group ownership in MUC is de minimis; as of July 31, 2025, executive officers and Board Members, as a group, owned less than 1% of outstanding common shares, and the Chief Financial Officer did not own any shares in the Fund .
| Category | As-of Date | Ownership (% of outstanding) |
|---|---|---|
| Executive officers and Board Members (group) | Jul 31, 2025 | <1% |
| Chief Financial Officer holdings | Jul 31, 2025 | 0% (none) |
- Significant shareholders: As of August 18, 2025, Karpus Investment Management beneficially owned 5,029,383 common shares (5.34%) of MUC .
| Holder | Shares | Ownership % | As-of Date |
|---|---|---|---|
| Karpus Investment Management | 5,029,383 | 5.34% | Aug 18, 2025 |
- Pledging/hedging: No executive pledging/hedging disclosures were provided. Note that VRDP Shares are restricted and may not be transferred or pledged unless registered or exempt, but this pertains to preferred stock mechanics, not officer practices .
Employment Terms
| Item | Detail |
|---|---|
| Position | Treasurer (MUC) |
| Term of Office | Annual; officer serves at the pleasure of the Board |
| Length of Service | Since 2007 |
| Address | c/o BlackRock, Inc., 50 Hudson Yards, New York, NY 10001 |
| Attorney-in-Fact Authority | Authorized as attorney-in-fact for registration statements on Form N‑14 per Board Power of Attorney (June 6, 2025) |
| Proxy Appointment | Named as a proxy for BlackRock closed-end fund shareholder meetings (e.g., Joint Annual Meeting July 11, 2025; Joint Special Meeting Oct 15, 2025) |
| Severance / Change-of-Control | Not disclosed at Fund level |
| Non-compete / Non-solicit | Not disclosed at Fund level |
| Ownership Guidelines (Officers) | Not disclosed at Fund level |
Investment Implications
- Compensation alignment: Because executive officers (including Jay M. Fife) receive no compensation from the Fund, pay-for-performance misalignment risk at the Fund level is minimal; officer incentives are set by BlackRock rather than MUC’s board/metrics .
- Insider selling pressure: With executive/board group beneficial ownership <1% and CFO holding no shares, there is limited direct insider ownership to drive selling pressure signals; no officer-level pledging/hedging disclosures appear in the proxy .
- Retention and continuity: Fife’s long tenure as Treasurer (since 2007) indicates operational continuity; however, officers serve at the pleasure of the Board, and no employment contracts, severance, or change-of-control terms are disclosed for the Treasurer at the Fund level .
- Governance confidence: Repeated appointment of Jay M. Fife as proxy and attorney-in-fact suggests trust in administrative and filing oversight; these roles reinforce process reliability more than provide trading signals .
- Shareholder dynamics: Karpus Investment Management’s 5.34% position is the notable holder; monitoring large holder actions (e.g., voting outcomes, activism stance) may be more informative for MUC trading signals than executive actions, given low officer ownership .