On July 3, 2023, Saba Capital Management, L.P. announced that Institutional Shareholder Services Inc. (ISS) has supported its case for change at the closed-end funds advised by BlackRock, Inc. In addition, Saba Capital stated that ISS recommended that BlackRock California Municipal Income Trust shareholders withhold support for long-time incumbent director and board chair R. Glenn Hubbard on BlackRock’s white proxy card – recognizing his responsibility for BFZ’s corporate governance deficiencies – at the 2023 Annual Meeting of Shareholders, which is scheduled to be held on July 10, 2023.