Form 4: Senior Advisor Charles M. Royce Sells 50,000 Shares of Royce Global Trust Stock Under Pre-Planned Arrangement

Charles M. Royce, a Senior Advisor at Royce & Associates, reported the sale of 50,000 shares of Royce Global Trust, Inc. common stock across two transactions in late June 2025, executed under a Rule 10b5-1 plan.

Summary

• Charles M. Royce, identified as a Senior Advisor at Royce & Associates and holding an 'Other' relationship to the issuer Royce Global Trust, Inc. (RGT), reported two sales of common stock.
• On June 26, 2025, Mr. Royce disposed of 11,875 shares of common stock at a price of $11.93 per share.
• On June 27, 2025, an additional 38,125 shares of common stock were sold at a price of $11.89 per share.
• The total number of shares sold across these two transactions is 50,000.
• Following these transactions, Mr. Royce's indirect beneficial ownership stands at 699,345 shares held in a family investment entity and 122,881 shares held in the Royce Charitable Trust, totaling 822,226 shares.
• The transactions were 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).

Sentiment

Score: 5

Explanation: The sentiment is neutral. While insider selling can sometimes be viewed negatively, the explicit mention of a Rule 10b5-1 plan indicates these were pre-scheduled transactions, reducing the implication of new negative information.

Positives

• The sales were conducted under a Rule 10b5-1 plan, indicating they were pre-scheduled and not based on new, non-public information, which can mitigate negative market perception often associated with insider selling.
• The transactions provide liquidity for the reporting person, which is a common and legitimate reason for insider sales.

Negatives

• The reduction in insider ownership, even if pre-planned, could be perceived by some investors as a slight negative signal regarding management's conviction in the company's future prospects, although this is often less impactful for 10b5-1 sales.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This filing is a routine insider transaction report and does not provide specific insights into broader industry trends or competitive dynamics beyond the individual's trading activity.

Stakeholder Impact

• Shareholders: May observe a reduction in insider ownership, but the 10b5-1 plan context suggests these are routine, pre-planned sales rather than a signal of declining confidence.

Key Dates

Recommendation

Keywords

SEC Form 4, Insider Trading, Stock Sale, Royce Global Trust, RGT, Charles M. Royce, Equity Transaction, Beneficial Ownership, Rule 10b5-1 Plan