MICHAEL K. SHIELDS - Corporate Board Profile

ROYCE MICRO-CAP TRUST, INC.

Filing Date	Source Excerpt
2015-08-03	Michael K. Shields President and Chief Executive Officer of Piedmont Trust Company, a private North Carolina trust company (since May 2012). Age 56. Class II Director. Length of time served April 2015. Current term expires 2016. Mr. Shields became a Director of the Fund in April 2015 and did not receive any compensation from the Fund and/or the other funds in the group of registered investment companies comprising The Royce Funds for the year ended December 31, 2014.
2016-07-29	Michael K. ShieldsPresident and Chief Executive Officer of Piedmont Trust Company. Age 57. Class II Director. Member of the Audit Committee and the Nominating Committee. Total Compensation From The Fund and Fund Complex Paid to Directors $191,977.
2017-08-14	Michael K. Shields President and Chief Executive Officer of Piedmont Trust Company. Age 58, Class II Director, term expires 2019. Mr. Shields serves on the Audit Committee and the Nominating Committee.
2018-08-10	Michael K. Shields President and Chief Executive Officer of Piedmont Trust Company, a private North Carolina trust company (since May 2012). Mr. Shields's prior business experience includes owning Shields Advisors, an investment consulting firm (from April 2010 to June 2012). The current members of the Audit Committee are Patricia W. Chadwick, Christopher C. Grisanti, Stephen L. Isaacs, Arthur S. Mehlman, David L. Meister, G. Peter O'Brien, and Michael K. Shields.
2019-08-12	The current members of the Audit Committee are Patricia W. Chadwick, Christopher C. Grisanti, Stephen L. Isaacs, Arthur S. Mehlman, David L. Meister, G. Peter O'Brien, and Michael K. Shields. Mr. Mehlman serves as Chairman of the Audit Committee. Ms. Chadwick and Mr. Mehlman have been designated as Audit Committee Financial Experts, as defined under Securities and Exchange Commission ("SEC") regulations. Each of the Independent Directors is a director/trustee of certain other investment companies constituting The Royce Funds. Each of Ms. Chadwick and Messrs. Grisanti, Isaacs, Mehlman, Meister, O'Brien, and Shields is a member of the Audit Committee of the Board and the Nominating Committee of the Board. For the year ended December 31, 2018, each Independent Director received a base fee of $11,000 per year, plus $500 for each in-person meeting of the Board attended. Michael K. Shields, Director, Aggregate Compensation From the Fund: $13,500.
2020-08-11	Michael K. Shields President and Chief Executive Officer of Piedmont Trust Company, a private North Carolina trust company (since May 2012). Age 61. Class II Director. Each of Ms. Chadwick and Messrs. Grisanti, Mehlman, O’Brien, and Shields is also a director/trustee of all of the other investment companies constituting The Royce Funds and a member of the Audit Committee and the Nominating Committee of the Board. For the year ended December 31, 2019, Michael K. Shields, Director, Aggregate Compensation From the Fund $13,500.
2021-08-13	Michael K. Shields Executive Officer of Piedmont Trust Company, a privately-owned North Carolina trust company and wealth management firm (since May 2012). Age 62. Class II Director. The current members of the Audit Committee are Patricia W. Chadwick, Christopher C. Grisanti, Cecile B. Harper, Arthur S. Mehlman, G. Peter O’Brien, and Michael K. Shields.
2022-08-11	Michael K. Shields President and Chief Executive Officer, Piedmont Trust Company (privately-owned North Carolina trust company) (since February 2012). Age 64 Class II Director Audit Committee member For the period January 1, 2021, to December 31, 2021, each of the Independent Directors was paid at an annual rate of $11,000 for serving on the Board, plus $500 for each Board meeting attended. Michael K. Shields, Director Aggregate Compensation From the Fund: $13,500 Total Compensation From The Fund and Fund Complex Paid to Directors: $248,300
2023-08-03	Michael K. Shields President and Chief Executive Officer, Piedmont Trust Company (privately-owned North Carolina trust company) (since February 2012); Chairman, UNC Charlotte Investment Fund Board (since February 2016); and Chairman, Halftime Carolinas Board (since February 2011). Formerly Owner, Shields Advisors (investment consulting firm) (from April 2010 to June 2012); President and Chief Executive Officer, Eastover Capital Management (2005-2007); President and Chief Executive Officer, Campbell, Cowperthwait & Co. (investment subsidiary of U.S. Trust Corporation) (1997-2002); and equity portfolio manager and co-manager of Quality Growth Team, Scudder, Stevens & Clark (1992-1997). Age 65 Class II Director Each of Mses. Chadwick, Harper, and Poston and Messrs. Grisanti, Mehlman, O’Brien, and Shields is also a director/trustee of all of the other investment companies constituting The Royce Funds and a member of the Audit Committee and the Nominating Committee of the Board. For the period January 1, 2022, to December 31, 2022, each of the Independent Directors was paid at an annual rate of $11,000 for serving on the Board, plus $500 for each Board meeting attended. Michael K. Shields, Director Aggregate Compensation From the Fund: $13,500.
2024-08-08	Michael K. Shields Chairman, UNC Charlotte Investment Fund Board (since February 2016). Age 66 Class II Director Length of service 2015 Current term expires 2025 Member of Audit Committee and Nominating Committee Aggregate compensation from the Fund $13,500 for 2023.

ROYCE SMALL-CAP TRUST, INC.

Filing Date	Source Excerpt
2015-08-03	Michael K. Shields President and Chief Executive Officer of Piedmont Trust Company, a private North Carolina trust company (since May 2012). Age 56. Class II Director. Member of the Audit Committee and the Nominating Committee. Mr. Shields became a Director of the Fund in April 2015 and did not receive any compensation from the Fund and/or the other funds in the group of registered investment companies comprising The Royce Funds for the year ended December 31, 2014.
2016-07-29	Michael K. ShieldsPresident and Chief Executive Officer of Piedmont Trust Company. Age 57. Class II Director. Member of the Audit Committee and the Nominating Committee. Aggregate compensation from the Fund and Fund Complex for 2015 was $191,977.
2017-08-14	Michael K. Shields President and Chief Executive Officer of Piedmont Trust Company. Mr. Shields is a member of the Audit Committee of the Board and the Nominating Committee of the Board.
2018-08-10	Michael K. Shields President and Chief Executive Officer of Piedmont Trust Company, a private North Carolina trust company (since May 2012). Mr. Shields's prior business experience includes owning Shields Advisors, an investment consulting firm (from April 2010 to June 2012).
2019-08-12	The current members of the Audit Committee are Patricia W. Chadwick, Christopher C. Grisanti, Stephen L. Isaacs, Arthur S. Mehlman, David L. Meister, G. Peter OBrien, and Michael K. Shields. Mr. Mehlman serves as Chairman of the Audit Committee. Each of Ms. Chadwick and Messrs. Grisanti, Isaacs, Mehlman, Meister, OBrien, and Shields is a member of the Audit Committee of the Board and the Nominating Committee of the Board. For the year ended December 31, 2018, each Independent Director received a base fee of $20,000 per year, plus $1,100 for each in-person meeting of the Board attended. Michael K. Shields received $25,500 from the Fund in 2018.
2020-05-11	Michael K. Shields, Director
2020-08-11	Michael K. Shields President and Chief Executive Officer of Piedmont Trust Company, a private North Carolina trust company (since May 2012). Age 61. Class II Director. The Board has a Nominating Committee (the “Nominating Committee”) composed of the six Independent Directors, namely Ms. Chadwick, Ms. Harper, and Messrs. Grisanti, Mehlman, O’Brien, and Shields.
2021-08-13	Michael K. Shields Executive Officer of Piedmont Trust Company, a privately-owned North Carolina trust company and wealth management firm (since May 2012). Age 62. Class II Director. The current members of the Audit Committee are Patricia W. Chadwick, Christopher C. Grisanti, Cecile B. Harper, Arthur S. Mehlman, G. Peter O’Brien, and Michael K. Shields. The Board has a Nominating Committee (the “Nominating Committee”) composed of the six Independent Directors, namely Ms. Chadwick, Ms. Harper, and Messrs. Grisanti, Mehlman, O’Brien, and Shields.
2022-08-11	Michael K. Shields President and Chief Executive Officer, Piedmont Trust Company (privately-owned North Carolina trust company) (since February 2012). Age 64 Class II Director The current members of the Audit Committee are Patricia W. Chadwick, Christopher C. Grisanti, Cecile B. Harper, Arthur S. Mehlman, G. Peter O’Brien, and Michael K. Shields. The Nominating Committee is composed of the six Independent Directors, namely Ms. Chadwick, Ms. Harper, and Messrs. Grisanti, Mehlman, O’Brien, and Shields. Total Compensation From The Fund and Fund Complex Paid to Directors: $248,300.
2023-08-03	Michael K. Shields President and Chief Executive Officer, Piedmont Trust Company. Age 65, Class II Director. The current members of the Audit Committee are Patricia W. Chadwick, Christopher C. Grisanti, Cecile B. Harper, Arthur S. Mehlman, G. Peter O’Brien, Julia W. Poston, and Michael K. Shields. The Nominating Committee is composed of the seven Independent Directors, namely Ms. Chadwick, Ms. Harper, and Ms. Poston, and Messrs. Grisanti, Mehlman, O’Brien, and Shields.
2024-08-08	Michael K. Shields Chairman, UNC Charlotte Investment Fund Board (since February 2016); and Chairman, Halftime Carolinas Board (since February 2011). Formerly President and Chief Executive Officer, Piedmont Trust Company (privately-owned North Carolina trust company) (from February 2012 to December 2023); Owner, Shields Advisors (investment consulting firm) (from April 2010 to June 2012); President and Chief Executive Officer, Eastover Capital Management (2005-2007); President and Chief Executive Officer, Campbell, Cowperthwait & Co. (investment subsidiary of U.S. Trust Corporation) (1997-2002); and equity portfolio manager and co-manager of Quality Growth Team, Scudder, Stevens & Clark (1992-1997). Age 66 Class II Director The current members of the Audit Committee are Patricia W. Chadwick, Christopher C. Grisanti, Cecile B. Harper, G. Peter O’Brien, Julia W. Poston, and Michael K. Shields. Nominating Committee composed of the six Independent Directors, namely Ms. Chadwick, Ms. Harper, and Ms. Poston, and Messrs. Grisanti, O’Brien, and Shields.