Christopher Grisanti
About Christopher Grisanti
Christopher C. Grisanti is an Independent Director (Class III) of Royce Global Trust, Inc. (RGT), serving since 2017; his current term expires in 2026 and he is designated by the Board as lead Independent Director. He is Chief Equity Strategist and Senior Portfolio Manager at MAI Capital Management LLC (since May 2020), and previously co-founded and served as CEO of Grisanti Capital Management LLC (1999–2020), following roles as Director of Research and Portfolio Manager at Spears Benzak, Salomon & Farrell (1994–1999) and Senior Associate at Simpson Thacher & Bartlett (1988–1994). The proxy lists his age as 63 and notes he has over 20 years of investment industry experience .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| MAI Capital Management LLC | Chief Equity Strategist & Senior Portfolio Manager | May 2020–present | Investment leadership |
| Grisanti Capital Management LLC | Co-Founder & Chief Executive Officer | 1999–2020 | Firm leadership, investment management |
| Spears Benzak, Salomon & Farrell | Director of Research & Portfolio Manager | 1994–1999 | Equity research and portfolio mgmt |
| Simpson Thacher & Bartlett | Senior Associate (law firm) | 1988–1994 | Corporate legal experience |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Royce Funds (Fund complex) | Lead Independent Director/Trustee | Ongoing | Leads executive sessions, represents Independent Directors |
| RGT (Royce Global Trust, Inc.) | Lead Independent Director | Ongoing | Chairs executive sessions of Independent Directors, Board liaison |
Board Governance
- Independence: Listed among Non-Interested Directors; designated Independent under Investment Company Act and NYSE standards; six of seven Directors are Independent .
- Lead role: Independent Directors designated Grisanti as lead Independent Director; he chairs meetings/executive sessions of Independent Directors and represents their views to management .
- Committees: Member of the Audit Committee (six Independent Directors) and Nominating Committee (six Independent Directors); not the chair of either .
- Meetings/attendance: In 2024 the Board held 8 meetings; Audit Committee held 4; Nominating Committee held 0; each Director attended 75% or more of the aggregate of Board and Committee meetings .
- Retirement policy: Independent Directors retire at age 79, subject to waiver .
Fixed Compensation
| Component | FY 2024 | FY 2025 (policy) |
|---|---|---|
| Annual retainer (cash) | $2,500 | $2,500 |
| Meeting fees (per Board meeting) | $250 | $250 |
| Lead Independent Director stipend | $369 | $369 |
| Committee chair fees (Audit Chair) | Not applicable to Grisanti (Audit Chair stipend paid to Poston: $246) | Not applicable to Grisanti (Audit Chair stipend paid to Poston: $246) |
| Aggregate compensation from RGT | $4,119 (2024) | — |
| Total compensation from The Royce Funds/Fund Complex | $250,500 (2024) | — |
| Pension/retirement benefits as part of Fund expenses | None | — |
Performance Compensation
| Item | Disclosure |
|---|---|
| Stock awards (RSUs/PSUs) | None disclosed for Directors |
| Option awards | None disclosed for Directors |
| Performance metrics tied to compensation | None disclosed for Directors |
| Retention/sign-on bonuses | None disclosed for Directors |
| Severance provisions | None disclosed for Directors |
| Change-of-control provisions | None disclosed for Directors |
| Clawback provisions | None disclosed for Directors |
| Tax gross-ups | None disclosed for Directors |
| Deferred compensation/pension/SERP | None disclosed for Directors |
Other Directorships & Interlocks
| Company | Role | Committee positions | Tenure |
|---|---|---|---|
| None | — | — | — |
Expertise & Qualifications
- Investment management: 20+ years of investment industry experience; senior roles in equity strategy and portfolio management .
- Leadership: Co-founder/CEO of a registered investment adviser; experience leading executive sessions as lead Independent Director .
- Legal background: Corporate law training and practice at Simpson Thacher & Bartlett .
Equity Ownership
| Item | Amount/Status |
|---|---|
| Shares outstanding (RGT) | 6,519,010 (Record Date) |
| Beneficial ownership (Grisanti, RGT shares) | 4,000 |
| Aggregate dollar range of equity in RGT | $10,001–$50,000 |
| Aggregate dollar range in all Royce Funds overseen | Over $100,000 |
| Directors/officers group beneficial ownership | ~1.35% of outstanding shares |
| Securities of Franklin Resources or affiliates held by Independent Directors/family | None (other than registered investment companies) |
Governance Assessment
- Alignment: Compensation is cash-only, modest in scale (retainer $2,500; $250 per meeting; $369 lead stipend), with no equity or performance-based awards disclosed—limiting pay-driven conflicts and signaling independence, but providing limited direct equity alignment at the RGT level .
- Engagement: Lead Independent Director responsibilities plus Audit and Nominating Committee participation, and 75%+ attendance threshold met in 2024, indicate active oversight and adequate engagement .
- Independence/conflicts: Classified as Non-Interested Director; no other public company directorships; no related-party/family relationships disclosed; and Independent Directors/families do not own Franklin affiliate securities—reducing interlock/conflict risk .
- Ownership: Direct beneficial holding of 4,000 shares and an aggregate dollar range of $10,001–$50,000 in RGT, alongside over $100,000 across Royce Funds, provides some skin-in-the-game, though not substantial relative to shares outstanding .
RED FLAGS: None identified in the proxy regarding related-party transactions, hedging/pledging, option repricing, tax gross-ups, or low attendance; compensation remains cash-only with no guaranteed increases beyond stated policy .