other material
confidence high
sentiment neutral
materiality 0.40
Kimbell Royalty unitholders approve partnership agreement amendment and 3.7M unit LTIP increase
Kimbell Royalty Partners, LP
- Unitholders approved extending distribution payment deadline to 60 days for Q1-Q3 and 90 days for Q4 (was 45 days).
- LTIP share pool increased by 3,700,000 common units; total reserve now 8,241,600 units.
- Both proposals passed with over 90% votes in favor; no broker non-votes reported.
- Amended partnership agreement removes Series A Preferred Unit provisions after 2021 redemption.
- Operating company LLC agreement amended to conform to partnership agreement changes.