Karen A. DiGravio
About Karen A. DiGravio
Karen A. DiGravio is an independent Trustee of Clough Global Opportunities Fund (GLO) since August 2017, designated as the Audit Committee Financial Expert and Chair of the Audit Committee across the Clough closed‑end funds complex (GLV, GLQ, GLO) . She has 22+ years of asset management experience as Partner, Chief Financial Officer (CFO) and Chief Compliance Officer (CCO) at Westfield Capital Management, where she led finance, accounting, and compliance and chaired the firm’s Operating and Risk Management Committee . Education: B.A. from Connecticut College (1991) and MBA (General Management) from Boston University School of Management (1997); born in 1969; current GLO trustee term expires in 2026 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Westfield Capital Management | Partner; CFO; CCO | Through at least 2016 | Led finance, accounting, compliance; chaired Operating & Risk Management Committee |
| Westfield Advisory Board | Member | Until 2016 | Advisory oversight |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Connecticut College | Co‑Chair, 1911 Society | Current | Advancement and stewardship leadership |
| Connecticut College | President’s Leadership Council, Member | Current | Institutional advisory engagement |
Board Governance
- Independence: Classified as an Independent Trustee under the 1940 Act and NYSE American standards; serves on Audit and Governance & Nominating Committees .
- Committee leadership: Audit Committee Chair for each fund; designated Audit Committee Financial Expert by the Audit Committee .
- Committee memberships: Audit Committee (Chair), Governance & Nominating Committee (member); Governance & Nominating met twice and Audit Committee met twice in fiscal year ended Oct 31, 2024 .
- Board leadership structure: Independent Chairman of the Board; Independent Trustees meet quarterly in executive session without management/adviser presence .
- Attendance and meetings: GLO Board met four times in FY2024; each Trustee attended at least 75% of Board and relevant committee meetings .
- Annual meeting attendance: Funds do not require Trustee attendance; no Trustees attended the 2024 Annual Meeting of Shareholders (engagement signal) .
Fixed Compensation
| Component | Amount (per fund) | Notes |
|---|---|---|
| Independent Trustee annual retainer | $14,000 | Paid to each Independent Trustee |
| Audit Committee Chair annual retainer | $15,400 | Paid to Audit Committee Chair |
| Board meeting fee (in‑person) | $1,650 for Audit Chair; $1,500 for Independent Trustees | Per Board meeting attended |
| Telephonic Board meeting fee | $550 for Audit Chair; $500 for Independent Trustees | Per telephonic Board meeting attended |
| Expense reimbursement | Actual out‑of‑pocket | Paid by funds |
| Trustee | GLV Compensation | GLQ Compensation | GLO Compensation | Total Complex Compensation |
|---|---|---|---|---|
| Karen A. DiGravio | $23,100 | $23,100 | $23,100 | $69,300 |
Structure indicates cash-only compensation via retainer and meeting fees; no equity grants disclosed for Trustees .
Performance Compensation
- Equity awards (RSUs/PSUs), stock options, performance bonuses: Not disclosed for Trustees; compensation described solely as cash retainers and meeting fees with no in‑kind equity awards or performance metrics .
- Performance metrics tied to pay: None disclosed for Trustees .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Public company directorships (past 5 years) | None disclosed for Ms. DiGravio |
| Fund complex roles | Independent Trustee and Audit Chair across GLV, GLQ, GLO |
| Potential interlocks/conflicts | None identified with adviser/affiliates; immediate family ownership in adviser/affiliates also none |
Expertise & Qualifications
- Finance/accounting/compliance/risk management expertise from CFO/CCO roles in asset management; chaired operating and risk committees .
- Audit oversight credentials: Audit Committee Financial Expert designation; Audit Chair across funds .
- Governance experience: Service on Governance & Nominating; involvement in executive sessions and oversight of service providers via CCO reporting framework .
Equity Ownership
| Fund | Shares Owned | % of Shares Outstanding | Dollar Range |
|---|---|---|---|
| GLO | 1,787 | <1% | $1–$10,000 |
| GLQ | 2,122 | <1% | $10,001–$50,000 |
| GLV | 1,876 | <1% | $10,001–$50,000 |
| Aggregate (fund complex) | — | — | $10,001–$50,000 |
No pledging/hedging policy disclosures specific to Trustees identified in the proxy; stock ownership guidelines for Trustees not disclosed .
Governance Assessment
- Strengths: Independent status; deep finance/compliance background; Audit Committee Chair and Financial Expert designation; structured risk oversight via CCO reports and quarterly independent executive sessions; adequate meeting attendance; cash‑only compensation minimizes pay complexity and misalignment risk .
- Alignment: Personal share ownership in GLO, GLQ, GLV with aggregate dollar range $10,001–$50,000 supports some alignment though holdings are de minimis relative to float (<1%) .
- Conflicts: Proxy affirms no related‑party transactions >$120,000 and no adviser/affiliate securities ownership by Independent Trustees or immediate families; no direct/indirect interests with adviser over the past five years, mitigating conflict risk .
- Engagement signals: Board and committee meeting cadence maintained; however, Trustees did not attend the 2024 Annual Meeting (policy does not require attendance), a neutral-to-mildly negative engagement optic depending on investor preference .
- Red flags: None identified—no related-party exposure, no tax gross‑ups or equity repricing, cash‑only director fees; absence of disclosed stock ownership guidelines for Trustees reduces formal alignment targets but is common in CEF complexes .