John M. Perlowski
About John M. Perlowski
John M. Perlowski (born 1964) serves as President and Chief Executive Officer of the Funds (since 2011) and as a Board Member (since 2015). He is a Managing Director at BlackRock and Head of BlackRock Global Accounting and Product Services (since 2009), and is classified as an “interested person” under the 1940 Act by virtue of his BlackRock role . The Board across these Funds comprises 10 members, 8 of whom are independent; the Chair is independent (R. Glenn Hubbard) and the Vice Chair is independent (W. Carl Kester) . Performance metrics (e.g., TSR, revenue/EBITDA growth) for Mr. Perlowski’s tenure are not disclosed in this proxy; officers (other than the CCO) receive no compensation from the Funds, which limits fund-level pay-for-performance linkages .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BlackRock MuniYield New York Quality Fund, Inc. (and related Funds) | President & CEO | Since 2011 | Executive leadership of the Funds |
| BlackRock MuniYield New York Quality Fund, Inc. (and related Funds) | Board Member | Since 2015 | Governance oversight within BlackRock Fixed-Income Complex |
| BlackRock, Inc. | Managing Director | Since 2009 | Senior leadership at adviser to the Funds |
| BlackRock, Inc. | Head, Global Accounting & Product Services | Since 2009 | Leads GA&PS function supporting products/operations |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Family Resource Network (charitable foundation) | Advisory Director | Since 2009 | Community/charitable advisory role |
| Public company/other investment company directorships (past 5 years) | — | — | None disclosed for Mr. Perlowski |
Fixed Compensation
- Executive officers (other than the Chief Compliance Officer) receive no compensation from the Funds; the CCO is compensated by the Acquiring Fund for CCO services .
- Implication: Fund-level base salary/bonus/benefit details for Mr. Perlowski are not applicable or disclosed in this proxy because he is compensated by BlackRock, not the Funds .
Performance Compensation
- No fund-level annual or long-term incentive programs (bonus/RSUs/PSUs/options) are disclosed for executive officers; officers are BlackRock employees and not compensated by the Funds .
- No performance metric weightings, targets, or payouts tied to Fund outcomes are disclosed for Mr. Perlowski .
Equity Ownership & Alignment
As of December 31, 2024:
| Holder | MYN Common Shares (Dollar Range) | MHN Common Shares (Dollar Range) | BNY Common Shares (Dollar Range) | Aggregate Dollar Range in Supervised Funds |
|---|---|---|---|---|
| John M. Perlowski | None | None | None | Over $100,000 |
- No ownership of MYN (or MHN/BNY) common shares by Mr. Perlowski indicates limited direct alignment with the specific Funds; the aggregate “Over $100,000” pertains to the broader supervised fund complex, not these Funds specifically .
- No disclosures of pledged shares, hedging, options, RSUs/PSUs, or vested/unvested breakdowns are provided for Mr. Perlowski in this proxy .
Employment Terms
- Officers “serve at the pleasure of the Board” .
- No employment agreement terms, severance, change-of-control provisions, non-compete, non-solicit, or clawback terms are disclosed for Mr. Perlowski in this proxy .
- Mr. Perlowski is an “interested person” due to his BlackRock role; he is compensated by BlackRock and not by the Funds .
Board Governance
- Board composition: 10 members; 8 independent; independent Chair (R. Glenn Hubbard) and independent Vice Chair (W. Carl Kester) .
- Mr. Perlowski is both President & CEO and a Board Member, and is an “interested person” under the 1940 Act; independence oversight is provided by an independent Chair and majority independent board .
- Committee memberships (Audit, Governance/Nominating, etc.) and meeting attendance are not detailed in this special meeting proxy; shareholders may direct accounting concerns to the CCO or the Chair of the Audit Committee .
- Activism context: Standstill agreements with Karpus (through 2027 window) and Saba (through 2027 window) require those holders to vote in line with Board recommendations during the standstill period, shaping governance dynamics through 2027 .
- Discount Management Program: Beginning in 2026, the Combined Fund intends to offer to purchase a minimum of 5% of outstanding common shares via annual tender at 98% of NAV if the average discount exceeds 10% during Jan 1–Sep 30; board retains discretion and outcomes are not assured .
Director Compensation
- Not disclosed in this preferred-shareholder special meeting proxy. With the exception of the CCO role, this document does not provide cash retainers, equity, or committee fee schedules for directors; Mr. Perlowski, as an interested Board Member and fund executive, is not compensated by the Funds .
Performance & Track Record
- The proxy does not disclose TSR or other performance outcomes attributable to Mr. Perlowski’s tenure; it notes that all three Funds have historically traded at discounts as of July 31, 2025 (e.g., MYN at a (10.07)% discount), and discusses a future discount management program and potential operating efficiencies from the proposed mergers .
- Portfolio management is led by a named team at BlackRock; Mr. Perlowski’s role is fund executive leadership and board service, not portfolio management .
Compensation Structure Analysis
- Fund-level pay mix (cash vs equity), performance metrics, target opportunities, or payout decisions for Mr. Perlowski are not provided because executive officers (other than the CCO) receive no compensation from the Funds .
- No disclosures on repricing/modification of equity awards, tax gross-ups, deferred compensation, pension/SERP, or perquisites are provided in this proxy for Mr. Perlowski .
Related Party Transactions
- No related-party transaction disclosures involving Mr. Perlowski are included in this special meeting proxy .
Risk Indicators & Red Flags
- No legal proceedings, SEC investigations, hedging/pledging, or say‑on‑pay results are disclosed for Mr. Perlowski in this document .
- Dual role (President/CEO and Board Member) with “interested person” status warrants ongoing reliance on independent Chair/independent majority for oversight .
Compensation Peer Group and Say‑on‑Pay
- Not applicable or not disclosed in this proxy; fund executives are BlackRock employees and not compensated by the Funds .
Expertise & Qualifications
- Senior BlackRock leadership experience (MD since 2009; Head of Global Accounting & Product Services since 2009) suggests deep operational, product, and oversight capabilities relevant to closed-end fund administration .
- Education and additional credentials are not disclosed in this proxy .
Work History & Career Trajectory
- BlackRock, Inc.: Managing Director and Head of Global Accounting & Product Services (since 2009) .
- Fund leadership: President & CEO (since 2011) and Board Member (since 2015) across the subject Funds .
- Other public/investment company boards in last five years: none disclosed for Mr. Perlowski .
Compensation Committee Analysis
- Committee composition, consultant use, and peer group methodology are not provided in this preferred-shareholder special meeting proxy .
Investment Implications
- Alignment: Mr. Perlowski receives no compensation from the Funds and held no reported MYN/MHN/BNY common shares as of 12/31/24, implying limited direct fund-level alignment; his incentives are primarily via BlackRock employment rather than Fund equity or pay plans .
- Governance oversight: Independence is maintained via an independent Chair and majority independent board; Mr. Perlowski’s “interested person” status and dual role heighten the importance of independent oversight .
- Trading signals: The 2026 discount management tender program and merger-driven scale/expense benefits are fund-level levers potentially affecting discounts and liquidity; they are board/strategy tools rather than executive pay signals, but they frame expectations for discount behavior post-merger .
- Retention risk: Officers serve at the pleasure of the Board and are BlackRock employees; no fund-level employment contracts or severance terms are disclosed, limiting visibility into retention protections or exit economics at the fund level .