Daniel O’Byrne
About Daniel O’Byrne
Daniel A. O’Byrne is Vice President of Royce Global Trust, Inc. (RGT) and a Principal and Vice President at Royce Investment Partners; he has been employed by Royce since October 1986 and has served as an officer of RGT since 1994. He is 63 years old and is elected annually by the Board to serve at its pleasure. Fund filings do not disclose executive-specific TSR, revenue, EBITDA or other performance metrics for officers.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Royce Global Trust, Inc. | Vice President | Officer since 1994 | Senior fund officer supporting governance and operations; signatory on regulatory/insurance agreements for the Royce funds complex. |
| Royce Investment Partners | Principal and Vice President | Employed since Oct 1986 | Long-tenured finance/investment leadership across The Royce Funds; continuity and institutional knowledge for closed-end fund oversight. |
| The Royce Funds complex (RVT, RMT, TRF, RCF) | Vice President / Officer | Multiple funds, ongoing | Cross-fund officer responsibilities; executed Rule 17g‑1 bond allocation agreement on behalf of several funds in the complex. |
External Roles
No external directorships or committee roles for Mr. O’Byrne are disclosed in RGT’s proxy.
Fixed Compensation
The 2025 proxy discloses director compensation only; it does not provide officer salary/bonus for RGT. Officers are listed and elected annually, but no cash compensation amounts for officers are reported in the Fund’s proxy.
Performance Compensation
No performance-based compensation (bonus metrics, RSUs/PSUs, stock options) for RGT officers is disclosed in the Fund’s proxy.
Equity Ownership & Alignment
| Metric | As of Record Date (Aug 5, 2025) |
|---|---|
| Beneficial ownership – shares | None |
| Ownership % of outstanding | Not applicable (0 shares) |
| Vested vs. unvested shares | Not disclosed for officers |
| Options – exercisable/unexercisable | Not disclosed for officers |
| Shares pledged as collateral | Not disclosed for officers |
| Stock ownership guidelines | Not disclosed for officers |
Context:
- Total shares outstanding: 6,519,010 as of the Record Date.
- Directors/officers as a group owned ~1.35% of outstanding shares; Mr. O’Byrne individually reported “None.”
Employment Terms
| Term | Detail |
|---|---|
| Office | Vice President of RGT |
| Election/term | Officers are elected each year by the Board and serve at the pleasure of the Board |
| Employment start (Royce) | Employed by Royce since October 1986 |
| Officer tenure (RGT) | Officer of Fund since 1994 |
| Contracts/severance/change‑of‑control | Not disclosed for officers in RGT proxy |
| Clawback/ownership policies | Not disclosed for officers |
| Section 16 reporting | Fund states all Section 16 filers complied during the most recent fiscal year |
Board Governance
- Mr. O’Byrne is an officer (Vice President), not a Director; governance committees (Audit, Nominating) are comprised of Independent Directors and are described in detail in the proxy.
- Board and committee activity (2024): Board held 8 meetings; Audit Committee held 4; Nominating Committee held none; officer elections occur annually.
Compensation Structure Analysis
- Cash vs. equity mix: No officer compensation disclosures; no equity awards for officers reported in the proxy.
- Option/RSU shift: Not disclosed for officers.
- Discretionary bonuses/guidance targets: Not disclosed for officers.
- Repricing/modification of awards: Not disclosed for officers.
Related Party Transactions and Risk Indicators
- No officer-specific related party transactions or compensation arrangements for Mr. O’Byrne are disclosed within RGT’s proxy; the document focuses on director compensation and fund governance.
- Section 16 compliance was affirmed by the Fund for the most recent fiscal year.
- Litigation context relates to the Maryland Control Share Acquisition Act; not specific to Mr. O’Byrne.
Compensation Peer Group and Say‑on‑Pay
- The proxy does not present an executive compensation peer group or say‑on‑pay voting for officers; it is a closed‑end fund proxy focused on director elections and governance.
Expertise & Qualifications
| Attribute | Evidence |
|---|---|
| Tenure | 39 years at Royce (since Oct 1986); long-standing officer of RGT since 1994 |
| Fund operations | Listed among officers responsible for Fund administration and compliance orchestration across The Royce Funds |
Work History & Career Trajectory
| Organization | Role | Years | Notes |
|---|---|---|---|
| Royce Investment Partners | Principal & Vice President | Since Oct 1986 | Career progression to principal and cross‑fund officer roles |
| Royce Global Trust, Inc. | Vice President | Since 1994 | Annual officer election; ongoing service |
| Other Royce closed‑end/open‑end funds | Vice President | Various | Officer roles/signatory across funds in Rule 17g‑1 bond agreement |
Investment Implications
- Alignment: Mr. O’Byrne reported no beneficial ownership of RGT as of Aug 5, 2025, suggesting limited “skin‑in‑the‑game” alignment at the Fund level; insider selling pressure is inherently low given zero holdings.
- Retention risk: Very low near‑term risk at the Fund level given his decades‑long tenure with Royce and annual re‑election as an officer at the Board’s pleasure; however, officer compensation and contracts are not disclosed in the proxy.
- Trading signals: No Form 4 selling pressure evident from the proxy’s stock ownership table; Section 16 compliance affirmed, but individual transaction forms are not included in the proxy materials provided.
- Governance: Strong committee structure among Independent Directors; officers (including Mr. O’Byrne) are part of management and not compensated via Fund‑level disclosures, consistent with closed‑end fund practice.