Royce Global Trust Insider Trims Stake by 6% in Two-Day Sale

Rhea-AI Filing Summary

Royce Global Trust, Inc. (RGT) – Form 4 insider trading report: Charles M. Royce, Sr. Advisor to Royce & Associates, reported two open-market sales executed through a family investment entity.

• 06/26/2025: 11,875 shares sold at $11.93.
• 06/27/2025: 38,125 shares sold at $11.89.

Following the transactions, the family entity’s stake declined from 737,470 to 699,345 shares. Royce also reports indirect ownership of 122,881 shares held in the Royce Charitable Trust. All holdings are reported as indirect; Royce remains the sole managing member of the family entity but disclaims beneficial ownership of any portion in which he has no pecuniary interest.

No derivative transactions, options, or new share acquisitions were disclosed. No 10b5-1 trading plan box was checked, indicating the sales were not conducted under a pre-arranged trading plan. The reported sales represent roughly 6% of Royce’s combined indirect position, which now totals approximately 822,226 shares.

Positive

• None.

Negative

• Insider selling of 50,000 shares (~6% of indirect holdings) by a senior adviser could be read as a modest bearish signal for RGT.

Insights

Financial Analyst

TL;DR: Insider sold ~50k RGT shares (≈6% stake); retains large holding—signal mildly negative but not material.

The Form 4 reveals two consecutive day sales by Charles M. Royce at prices just under $12. While the dollar value (~$600k) is modest relative to the trust’s market cap and to Royce’s remaining 822k indirect shares, insider selling generally indicates limited near-term upside expectations. Lack of a Rule 10b5-1 plan suggests discretionary timing. However, Royce still holds a sizeable position, mitigating concerns of a full exit. With no other corporate events disclosed, I consider the filing informational with limited valuation impact.

Corporate Governance Specialist

TL;DR: Routine insider sale, no red flags; corporate control structure unchanged.

From a governance lens, the transactions were properly reported within two business days and include clear explanatory footnotes. The family investment entity structure and charitable trust are long-standing vehicles; no new related-party complexities are introduced. The insider continues to exceed the 10% ownership threshold, preserving alignment incentives. Given the modest size and transparent disclosure, the event is not governance-critical.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ROYCE CHARLES M

(Last) (First) (Middle)

ROYCE GLOBAL TRUST, INC.

ONE MADISON AVENUE

(Street)

NEW YORK NY 10010

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ROYCE GLOBAL TRUST, INC. [ RGT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Sr. Advisor Royce & Associates

3. Date of Earliest Transaction (Month/Day/Year)
06/26/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/27/2025		S		38,125	D	$11.89	699,345	I	Family Investment Entity(1)
Common Stock	06/26/2025		S		11,875	D	$11.93	737,470	I	Family Investment Entity(1)
Common Stock								122,881	I	Shares held in the Royce Charitable Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares held in a family investment entity of which the reporting person is the sole managing member and in which the reporting person has a substantial pecuniary interest (which may vary from time to time). The reporting person disclaims beneficial ownership of the portion of such shares owned the by the family investment entity in which he has no pecuniary interest.

	Dani Eng, Attorney-in-Fact	06/27/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Royce Global Trust (RGT) shares did Charles M. Royce sell?

He sold a total of 50,000 common shares—11,875 on 06/26/2025 and 38,125 on 06/27/2025.

At what prices were the RGT shares sold?

The shares were sold at $11.93 and $11.89 per share, respectively.

How many RGT shares does Charles M. Royce now beneficially own?

Post-sale, he indirectly owns 699,345 shares via the family entity and 122,881 shares via a charitable trust, totaling about 822,226 shares.

Was the sale conducted under a Rule 10b5-1 trading plan?

No. The checkbox indicating a Rule 10b5-1(c) plan was not marked.

Did the Form 4 report any derivative securities or option exercises?

No derivative transactions or option exercises were disclosed in Table II.