8-K
filed January 16, 2024, 6:59 PM ET
ticker SJT
CIK 0000319655
leadership
confidence high
sentiment neutral
materiality 0.50
San Juan Basin Trust unitholders approve Argent as successor trustee; effective Feb 15, 2024
SAN JUAN BASIN ROYALTY TRUST
- Approved appointment of Argent Trust Company as successor trustee with 21.9M for, 0.75M against.
- Approved indenture amendment allowing successor trustee with $15M+ capital requirement: 21.5M for.
- Approved clarification of 'Trustee' for indemnification of former trustees: 21.7M for.
- PNC Bank resignation and Argent appointment expected to take effect February 15, 2024.
Key facts
Extracted from this filing and checked against the source text.
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
SAN JUAN BASIN ROYALTY TRUST shareholders approved Appointment of Argent Trust Company as successor trustee at the 2024-01-16 meeting.
- Outcome
- passed
- Meeting
- 2024-01-16
Exact text from the filing
(i) The Unit Holders approved the appointment of Argent as the successor trustee of the Trust in accordance with the terms set forth in that certain attached Agreement of Conditional Resignation: Votes For Votes Against Votes Abstained Broker Non-Votes 21,885,141 751,916 735,544 Not applicable.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
SAN JUAN BASIN ROYALTY TRUST shareholders approved Amendment to Indenture to clarify meaning of 'Trustee' in Section 6.02 to include former trustees for indemnification purposes at the 2024-01-16 meeting.
- Outcome
- passed
- Meeting
- 2024-01-16
Exact text from the filing
(iii) The Unit Holders approved an amendment to the Indenture that would clarify the meaning of "Trustee" in Section 6.02 of the Indenture to include former trustees for indemnification purposes: Votes For Votes Against Votes Abstained Broker Non-Votes 21,748,695 908,429 715,477 Not applicable.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
SAN JUAN BASIN ROYALTY TRUST shareholders approved Amendment to Indenture to allow bank/trust company with capital surplus and undivided profits of at least $15,000,000 to serve as successor trustee at the 2024-01-16 meeting.
- Outcome
- passed
- Meeting
- 2024-01-16
Exact text from the filing
(ii) The Unit Holders approved an amendment to the Indenture that would permit a bank or trust company with capital, surplus and undivided profits (as of the end of its last fiscal year prior to its appointment) of at least $15,000,000 to serve as successor trustee of the Trust: Votes For Votes Against Votes Abstained Broker Non-Votes 21,522,872 1,212,252 637,477 Not applicable.
View on SEC.gov
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