Hon. Vincent W. Versaci
About Hon. Vincent W. Versaci
Hon. Vincent W. Versaci (born 1971) is an Independent Trustee of GLQ, serving since 2013; his current GLQ trustee term expires in 2026 . He is Acting Supreme Court Justice and Surrogate’s Court Judge for Schenectady County, New York, overseeing extensive fiduciary matters, distributions, and oversight of corporate and individual fiduciaries; he previously served as Schenectady City Court Judge (2003–2010), adjunct professor, and practicing attorney focused on civil and criminal litigation . He brings domain expertise in ethics and fiduciary oversight, with state-level appointments to the Surrogate’s Court Advisory Committee (2018) and the Administrative Board for the Offices of Public Administrators (2019) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| New York State Courts (Schenectady County) | Surrogate’s Court Judge; Acting Supreme Court Justice | Surrogate since May 2010; Acting Supreme Court Justice (current); Judge since Jan 2003 | Oversight of thousands of fiduciary matters; supervises tens of thousands of fiduciaries; oversees distribution of millions annually |
| City Court, City of Schenectady | City Court Judge | 2003–2010 | High-volume criminal and civil docket |
| Schenectady County Community College | Adjunct Professor | Not disclosed | Teaching and legal education |
| Private Practice (NY State & Federal Courts) | Attorney (civil & criminal litigation) | Not disclosed | Litigation focus |
External Roles
| Organization | Role | Start Year | Scope/Notes |
|---|---|---|---|
| NY Appellate Division, Third Department | Administrative Board for Offices of Public Administrators (appointed) | 2019 | Oversees Public Administrators statewide; sets oversight rules |
| NY Chief Administrative Judge | Surrogate’s Court Advisory Committee (member) | 2018 | Reviews laws/practices; recommends legislation/regulatory changes for Trusts & Estates |
| Schenectady County Bar Association | Board Member | Not disclosed | Ongoing governance and speaking engagements |
Board Governance
- Independence: Versaci is an Independent Trustee; he serves on committees comprised solely of Independent Trustees (Audit; Governance & Nominating) .
- Committee assignments: Audit Committee member; Governance & Nominating Committee member; Chair of the Qualified Legal Compliance Committee (QLCC) since 2017 .
- Committee leadership context: Audit Committee chaired by Karen DiGravio (also Audit Committee Financial Expert); Audit Charter last reviewed Dec 19, 2024; met twice in FY ended Oct 31, 2024 . Governance & Nominating Committee chaired by Adam Crescenzi; Charter reviewed Jan 25, 2024; met twice in FY ended Oct 31, 2024 .
- Executive sessions: Independent Trustees meet quarterly in executive session without interested trustees or adviser/administrator personnel .
- Attendance: During FY ended Oct 31, 2024, each trustee attended at least 75% of board and applicable committee meetings; GLQ Board met four times (GLV: 4; GLO: 4) .
- Term/Service: Trustee since 2013; GLQ term expires 2026; oversees 3 portfolios in the fund complex .
| Governance Item | Detail | Source |
|---|---|---|
| Independence status | Independent Trustee; serves on Independent-only committees | |
| Audit Committee | Member; 2 meetings in FY 2024; Charter reviewed 12/19/2024 | |
| Governance & Nominating Committee | Member; 2 meetings in FY 2024; Charter reviewed 1/25/2024 | |
| QLCC | Chair since 2017 | |
| Executive sessions | Independent Trustees meet quarterly | |
| Attendance | ≥75% for board and committees in FY 2024 | |
| Years of service (GLQ) | Trustee since 2013; term expires 2026 | |
| Portfolios overseen | 3 (GLV, GLQ, GLO) |
Fixed Compensation
- Structure: Compensated Trustees (independent) receive per fund an annual retainer of $14,000 plus $1,500 per Board meeting; telephonic Board meeting fees are $500; committee meetings carry no additional fees. Audit Committee Chair retainer is $15,400 plus $1,650 per Board meeting; Board Chair retainer is $16,800 plus $1,800 per Board meeting .
- Actual FY 2024 compensation paid from GLQ complex: Versaci received $21,000 from each of GLV, GLQ, and GLO, totaling $63,000 .
| Component | GLV ($) | GLQ ($) | GLO ($) | Total Complex ($) |
|---|---|---|---|---|
| Trustee Compensation (FY ended 10/31/2024) | 21,000 | 21,000 | 21,000 | 63,000 |
| Fee Schedule (Per Fund) | Amount |
|---|---|
| Annual retainer (Compensated Trustee) | $14,000 per year |
| Per Board meeting (in-person) | $1,500 per meeting |
| Telephonic Board meeting fee | $500 per meeting (Compensated Trustee) |
| Committee meeting fees | None (no additional fees) |
| Audit Committee Chair retainer | $15,400; $1,650 per Board meeting |
| Board Chair retainer | $16,800; $1,800 per Board meeting |
Performance Compensation
| Item | Disclosure |
|---|---|
| Stock awards (RSUs/PSUs) | Not disclosed for Trustees; proxy shows cash retainers/meeting fees only |
| Option awards | Not disclosed for Trustees |
| Performance metrics (TSR, EBITDA, ESG) | Not disclosed for Trustees |
| Clawbacks | Not disclosed for Trustees |
| Severance / CoC provisions | Not disclosed for Trustees |
The proxy’s trustee compensation section details cash-based retainers/fees and does not present equity or option awards for Trustees .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Other public company boards (past 5 years) | None disclosed for Versaci |
| Fund complex oversight | 3 portfolios (GLV, GLQ, GLO) |
| Shared directorships with competitors/suppliers/customers | Not disclosed |
Expertise & Qualifications
- Trusts & Estates fiduciary expertise; oversight of large fiduciary populations and asset distributions as Surrogate .
- Appointed to NY Surrogate’s Court Advisory Committee (2018) and Administrative Board for Public Administrators (2019), reflecting specialized governance expertise in fiduciary law .
- Legal and compliance oversight experience across portfolio management, regulatory matters, financial statement preparation, and service provider oversight in closed-end fund governance .
Equity Ownership
| Holding | Dollar Range |
|---|---|
| GLQ common shares | $1–$10,000 |
| GLV common shares | $1–$10,000 |
| GLO common shares | $1–$10,000 |
| Aggregate (Fund Family) | $1–$10,000 |
Trustee transactions/relationships: Independent Trustees and immediate families had no ownership in the Adviser or affiliates (beyond permitted investments) and no transactions or relationships exceeding $120,000 over the past five years; none since the beginning of the last two fiscal years with Adviser/affiliates .
Governance Assessment
- Strengths: Independent Trustee with fiduciary/legal specialization; member of Audit and Governance & Nominating Committees; QLCC Chair since 2017—supports compliance and ethics oversight . Independent Chair governance structure and quarterly executive sessions enhance conflict mitigation and independent oversight .
- Engagement: Attended at least 75% of Board and committee meetings; GLQ held four Board meetings in FY 2024; Audit and Governance committees met twice each—participation across key committees indicates active governance involvement .
- Alignment: Personal investment disclosed across all three funds ($1–$10k each; $1–$10k aggregate), indicating some direct economic exposure; trustee compensation is cash-based per fund retainer/meeting fees .
- Conflicts/Related-party exposure: None disclosed—no ownership or transactions with the Adviser/affiliates above materiality thresholds in recent years; committee composition is Independent-only for Audit and Governance & Nominating .
- Watch items: Ownership is disclosed only as dollar ranges (not share counts or % outstanding), limiting precision in alignment analysis; attendance disclosure uses a ≥75% threshold rather than exact rates .