Royce Global Trust Form 4: Officer Gannon exits entire shareholding

Rhea-AI Filing Summary

Royce Global Trust, Inc. (RGT) Form 4 filing: Vice President Francis D. Gannon reported a Code “S” transaction on 06/30/2025. He sold 7,214 shares of common stock at $11.92 per share, reducing his direct ownership to 0 shares. No derivative securities were reported. The filing was made by a single reporting person and does not indicate any 10b5-1 trading plan. The transaction represents a complete disposition of the officer’s directly held shares.

Positive

• None.

Negative

• Complete insider sale: Vice President disposed of 7,214 shares, leaving zero direct ownership, which can be perceived as a negative signal for investor confidence.

Insights

Financial Analyst

TL;DR: VP sold entire 7,214-share stake at $11.92; insider sale signals potential negative sentiment.

The sole reported transaction is a discretionary sale (Code “S”) by Vice President Francis D. Gannon. The officer liquidated his direct holdings, leaving him with zero common shares. While the dollar value (~$86k) is modest for a closed-end fund, a full exit by an executive can concern investors because it removes direct equity alignment and may indicate limited near-term confidence. No offsetting purchases or option exercises were disclosed, and no Rule 10b5-1 plan is referenced, suggesting the sale was not pre-scheduled. Absent additional context such as personal liquidity needs, the trade is likely to be interpreted as a mildly negative signal.

Corporate Governance Specialist

TL;DR: Complete divestiture by officer erodes insider ownership, modest but noteworthy.

From a governance lens, insider share ownership fosters alignment with shareholder interests. Gannon’s sale removes that alignment for this officer class, potentially reducing perceived commitment. Although the share count is small relative to RGT’s float, Form 4 data show no remaining beneficial ownership. Investors typically monitor cumulative insider activity; a pattern of net selling could weigh on sentiment and influence proxy advisory assessments. Isolated, the event is not material to operations, but it tilts governance optics slightly negative.

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^*

Gannon Francis D.

(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
X	Officer (give title below)		Other (specify below)
	Vice President

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

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	06/30/2025		S		7,214	D	$11.92	0	D

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:

	Francis D. Gannon	06/30/2025
	** 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

What did RGT's Vice President sell on 06/30/2025?

He sold 7,214 shares of Royce Global Trust common stock.

At what price were the RGT shares sold?

The reported sale price was $11.92 per share.

How many RGT shares does Francis D. Gannon own after the transaction?

The Form 4 states he now owns 0 shares directly.

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

The filing does not indicate that a 10b5-1 plan was used.

Does the Form 4 disclose any derivative security activity?

No, no derivative securities were reported in Table II.