Adam Crescenzi
About Adam D. Crescenzi
Independent Trustee and Vice-Chairman of the Board at Clough Global Dividend and Income Fund (GLV). Born 1942; GLV trustee since 2004 (GLQ since 2005; GLO since 2006). Founding Partner of Simply Tuscan Imports LLC (since 2007); long history advising businesses and non-profits on strategy, marketing, and governance. Chairs the Governance and Nominating Committee for each Fund since 2006; member of the Audit Committee; independence affirmed under NYSE American listing standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| CSC Index | Executive Vice-President, Management Consulting Services (retired prior to corporate start-ups) | n/a | Senior leadership in management consulting |
| Dean College | Trustee | 2003–2015 | Board oversight during transformational years |
| Telos Partners | Founding partner/investor | n/a | Strategic business advisory firm involvement |
| Creative Realties, Inc. | Founding partner/investor | n/a | Creative arts technology firm involvement |
| ICEX, Inc. | Founding partner/investor | n/a | Web-based corporate exchange forums |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Simply Tuscan Imports LLC | Founding Partner | Since 2007 | Ongoing leadership role |
| Greater Naples Leadership | Program graduate | 2014 | Community leadership credential |
| Naples Italian Cultural Society | President Emeritus | n/a | Recognition of service |
| Founders Fund, Inc. | President Emeritus | n/a | Recognition of service |
| Various philanthropic organizations (e.g., Boston College McMullen Museum of Arts) | Advisor/Service roles | n/a | Philanthropic engagement |
Board Governance
- Role and tenure: Vice-Chairman of the Board and Independent Trustee; GLV trustee since 2004; current GLV term expires in 2026 .
- Independence: Identified as Independent Trustee under NYSE American listing standards; no material relationships with the adviser or affiliates (no interests >$120,000 over past five years; no >$120,000 transactions in the last two fiscal years) .
- Committee assignments:
- Audit Committee: Member; committee composed entirely of Independent Trustees; met twice in FY 2024; Audit Committee Chair is Karen DiGravio (Audit Committee Financial Expert) .
- Governance and Nominating Committee: Chair; committee composed entirely of Independent Trustees; charter last reviewed January 25, 2024; met twice in FY 2024 .
- Board activity and engagement: GLV Board met four times in FY 2024; each Trustee attended at least 75% of Trustee and committee meetings; Trustees are not required to attend Annual Shareholder Meetings and none attended in 2024 .
- Executive sessions: Independent Trustees meet quarterly in executive sessions without interested trustees or service providers .
Fixed Compensation
| Component | Per Fund Amount (USD) | Eligibility/Notes |
|---|---|---|
| Annual retainer (Independent “Compensated Trustees”) | $14,000 | Paid by each Fund to independent trustees not affiliated with adviser |
| Per in-person Board meeting attended | $1,500 | Paid by each Fund per meeting |
| Additional telephonic Board meeting fee | $500 | Paid by each Fund per telephonic meeting (Independent Trustees) |
| Audit Committee Chair annual retainer | $15,400 | Plus $1,650 per Board meeting; applies to Audit Chair (DiGravio), not Crescenzi |
| Chairman of the Board annual retainer | $16,800 | Plus $1,800 per Board meeting; applies to Board Chairman (Weber), not Crescenzi |
| Fund | FY 2024 Cash Paid (USD) | Meetings Held (FY 2024) |
|---|---|---|
| GLV | $21,000 | 4 |
| GLQ | $21,000 | 4 |
| GLO | $21,000 | 4 |
| Total from Fund Complex | $63,000 | n/a |
- No equity grants, option awards, or meeting fees for committee meetings disclosed for Crescenzi; committee chair fees are specified only for Audit Committee Chair and Board Chairman .
Performance Compensation
- No performance-based compensation, equity awards (RSUs/PSUs/options), or disclosed performance metrics tied to director pay are reported for Crescenzi; director pay is entirely fixed retainer and meeting fees from each Fund .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Public company directorships (last 5 years) | None disclosed for Crescenzi |
| Fund complex oversight | Oversees 3 portfolios (GLV, GLQ, GLO) as Trustee |
| Interlocks with competitors/suppliers/customers | None disclosed |
Expertise & Qualifications
- Strategic, governance, and advisory expertise from executive leadership at CSC Index and multiple start-up founding/investment roles (Telos Partners, Creative Realties, ICEX) .
- Non-profit governance and community leadership via President Emeritus roles and Greater Naples Leadership credential (2014) .
- Long-tenured closed-end fund board service; chairs Governance and Nominating Committee since 2006 and serves on Audit Committee, contributing oversight across portfolio management, regulatory and compliance, and service provider monitoring .
Equity Ownership
| Fund | Shares Owned | Percentage of Outstanding Shares |
|---|---|---|
| GLV | 0 | 0% |
| GLQ | 0 | 0% |
| GLO | 406 | <1% |
- Dollar range disclosure (FY 2025 reporting date): GLV – none; GLQ – none; GLO – $1–$10,000; aggregate across family of funds – $1–$10,000 .
Governance Assessment
- Strengths: Independent status; chairs Governance and Nominating Committee; member of Audit Committee; independent-led board structure with quarterly executive sessions improves oversight and mitigates conflicts .
- Engagement: Attended at least 75% of meetings in FY 2024 and participated in core committees; however, Trustees do not attend annual shareholder meetings by policy and none attended in 2024, which may limit direct shareholder engagement .
- Compensation alignment: Director pay is modest, fully cash-based, and meeting/retainer-linked with no equity or performance elements; this avoids pay-for-performance distortions but provides limited ownership alignment incentives .
- Ownership alignment: Minimal personal holdings (0 GLV/GLQ; 406 GLO shares); low ownership may be viewed as a weak “skin-in-the-game” signal for GLV specifically .
- Conflicts and related-party exposure: No reportable related-party transactions or adviser-affiliate interests; independence affirmed over past five years, reducing conflict risk .
RED FLAGS
- Low GLV share ownership (0 shares) and no equity-based director compensation reduce alignment with GLV shareholders .
- No trustee attendance at the 2024 annual shareholder meeting (per fund policy), which may be viewed negatively by investors prioritizing transparency and engagement .