CLARK CHRISTOPHER D 4

What Happened Christopher D. Clark — President, Director and CEO Investment Advisor of ROYCE Small-Cap Trust (RVT) — completed an open-market purchase of 4,500 shares on 2026-03-24 at $16.69 per share, totaling $75,105. This was a straightforward purchase (transaction code P), which is generally interpreted as a direct acquisition of stock rather than a sale or option exercise.

Key Details

• Transaction date: 2026-03-24; Filing date: 2026-03-25 (Form 4).
• Transaction type: Open-market purchase (Code P).
• Price and size: 4,500 shares at $16.69 per share; total value $75,105.
• Shares owned after transaction: Not specified in the public filing.
• Notable footnotes: None indicated in the reported transaction.
• Timeliness: Filing was submitted the next day (within typical Form 4 reporting window), so not marked late.

Context Purchases by company insiders can be viewed as a positive signal since they increase the insider's stake, but they do not prove future performance—motives are not disclosed. This report is a simple buy (not an option exercise, gift, or award), and there’s no indication of a 10b5-1 plan or other special arrangement in the filing.