Hon. Vincent W. Versaci
About Hon. Vincent W. Versaci
Hon. Vincent W. Versaci (born 1971) is an Independent Trustee of Clough Global Opportunities Fund (GLO), serving since March 2013; his current GLO Board term expires in 2027 . He is a Judge in the New York State Courts, currently an Acting Supreme Court Justice and Surrogate’s Court Judge for Schenectady County, NY; prior roles include Adjunct Professor at Schenectady County Community College and practicing attorney focused on civil and criminal litigation .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| New York State Courts | Judge; Acting Supreme Court Justice and Surrogate’s Court Judge (Schenectady County) | Since Jan 2003 (Surrogate since May 2010) | Oversees fiduciaries in estates/guardianships/trusts; monitors prudent investment/preservation; oversees distribution of millions of dollars annually |
| City of Schenectady | City Court Judge | 2003–2010 | Presided over large volume of criminal and civil matters |
| Schenectady County Community College | Adjunct Professor | Prior to judicial roles (dates not specified) | Teaching responsibilities; legal education engagement |
| Private Practice | Attorney (civil and criminal litigation focus) | Prior to judgeship (dates not specified) | Litigation in NY State and Federal Courts |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Administrative Board for Offices of Public Administrators (NY Appellate Division, Third Dept) | Appointed Member | Appointed 2019 | Oversees activities and promulgates rules for Public Administrators across New York State |
| Surrogate’s Court Advisory Committee (NY Courts) | Member | Selected 2018 | Reviews laws/practices; recommends legislation/regulatory changes in Trusts & Estates |
| Schenectady County Bar Association | Board Member | Current (date not specified) | Legal community governance and speaking engagements |
Board Governance
- Independence: Listed as Independent Trustee/Nominee; committees he sits on are composed solely of Independent Trustees (not “interested persons”) .
- Committee memberships:
- Audit Committee: Member; committee of five Independent Trustees; met twice in FY2024; Chair is Karen DiGravio (also designated “audit committee financial expert”) .
- Governance & Nominating Committee: Member; committee of five Independent Trustees; met twice in FY2024; Chair is Adam D. Crescenzi .
- Qualified Legal Compliance Committee (QLCC): Chair since 2017 .
- Board meeting cadence and attendance: Each fund’s Board (GLV, GLO, GLQ) met four times in FY2024; each Trustee then serving attended at least 75% of Board and committee meetings .
- Executive sessions: Chairman and Independent Trustees meet quarterly in executive sessions without Interested Trustees or adviser/administrator present .
- Term structure: Boards are classified into three classes with staggered three-year terms; Versaci’s GLV/GLQ/GLO class expirations are GLV 2025, GLQ 2026, GLO 2027 .
Committee Summary
| Committee | Composition | Chair | FY2024 Meetings | Versaci Role |
|---|---|---|---|---|
| Audit | 5 Independent Trustees | Karen DiGravio | 2 | Member |
| Governance & Nominating | 5 Independent Trustees | Adam D. Crescenzi | 2 | Member |
| Qualified Legal Compliance Committee | Not specified | Vincent W. Versaci (since 2017) | Not disclosed | Chair |
Fixed Compensation
FY2024 Actual Compensation Paid (Fiscal year ended Oct 31, 2024)
| Trustee | GLV ($) | GLQ ($) | GLO ($) | Total Fund Complex ($) |
|---|---|---|---|---|
| Vincent W. Versaci | 21,000 | 21,000 | 21,000 | 63,000 |
Fee Schedule (per fund)
| Component | Amount | Notes |
|---|---|---|
| Annual retainer (Compensated Trustees) | $14,000 per year | Applies to Independent Trustees not affiliated with adviser |
| Board meeting fee (in-person) | $1,500 per meeting | Chairman: $1,800; Audit Chair: $1,650 |
| Telephonic Board meeting fee | $500 per meeting | Chairman: $600; Audit Chair: $550 |
| Committee meeting fees | None (no additional fees for in-person or telephonic committee meetings) | Applies across committees |
| Out-of-pocket expenses | Reimbursed | Travel/meeting-related |
Note: Versaci is not the Chairman nor Audit Committee Chair; QLCC chairmanship carries no separately disclosed fee in the proxy .
Performance Compensation
| Component | Plan Design | Metrics/Targets | FY2024 Status | Notes |
|---|---|---|---|---|
| Equity awards (RSUs/PSUs) | Not disclosed | Not disclosed | None disclosed | Proxy describes cash retainers and meeting fees only; no equity grants noted |
| Option awards | Not disclosed | Not disclosed | None disclosed | No option awards disclosed |
| Performance-based cash bonus | Not disclosed | Not disclosed | None disclosed | No performance metrics presented for Trustees |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Other public company boards (past 5 years) | None |
| Notable non-profit/academic boards | Schenectady County Bar Association (Board Member) |
| Interlocks with competitors/suppliers/customers | None disclosed |
Expertise & Qualifications
- Deep fiduciary, ethics, and Trusts & Estates expertise; oversees activities of corporate and individual fiduciaries and large estate distributions as Surrogate’s Court Judge .
- Appointed to statewide Administrative Board for Public Administrators (2019) and Surrogate’s Court Advisory Committee (2018), signaling high credentialing in fiduciary oversight and policy formation .
- Board contributions include oversight of portfolio management, legal/regulatory matters, compliance, financial statements preparation, and service-provider oversight; recognized by Board for ethics and fiduciary expertise; QLCC Chair since 2017 .
Equity Ownership
Share Counts and Percentages (as of proxy disclosure date)
| Fund | Shares Owned | % of Shares Outstanding |
|---|---|---|
| GLV | 150 | <1% |
| GLQ | 1,050 | <1% |
| GLO | 150 | <1% |
| Aggregate (All Trustees and Officers as a group – GLO) | 4,343 | <1% |
Dollar Range of Beneficial Ownership
| Fund | Dollar Range |
|---|---|
| GLV | $1–$10,000 |
| GLQ | $1–$10,000 |
| GLO | $1–$10,000 |
| Aggregate Family of Investment Companies | $1–$10,000 |
- Shares pledged as collateral: Not disclosed .
- Ownership guidelines: Not disclosed .
Governance Assessment
- Strengths: Independent Trustee with long tenure and leadership as QLCC Chair; sits on Audit and Governance & Nominating Committees composed entirely of Independent Trustees, supporting robust oversight of financial reporting, compliance, and board composition .
- Engagement: Met attendance threshold (≥75%) across Board and committee meetings; Independent Trustees hold quarterly executive sessions, supporting independent judgment and risk oversight .
- Pay structure: Cash-only retainers and meeting fees; no equity/options or performance-based awards disclosed—limits pay-for-performance linkage but reduces potential misalignment or incentive risk associated with equity awards .
- Ownership alignment: Personal holdings are modest (150 GLO shares; total dollar range $1–$10,000 across funds), indicating limited “skin-in-the-game” from a pure ownership perspective .
- Conflicts/related-party exposure: None disclosed for Versaci; he is classified as independent; interested trustee on the Board is Kevin McNally due to prior affiliation with the adviser, but Versaci is not an “interested person” and sits on committees restricted to Independent Trustees .
- Shareholder meeting attendance: Trustees are not required to attend annual meetings; none attended in 2024—neutral but noteworthy for investor engagement tracking .
Overall signal: Versaci’s legal and fiduciary credentials (including QLCC chairmanship and statewide advisory roles) bolster board effectiveness in compliance and ethics; compensation and attendance disclosures show standard fund-governance practices; low personal ownership is a mild alignment consideration but no material conflicts or red flags are disclosed .