---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-002351"
form_type: "8-K"
ticker: "SJT"
cik: "0000319655"
company_name: "SAN JUAN BASIN ROYALTY TRUST"
filed_at: "2024-01-16T23:59:59+00:00"
generated_at: "2026-06-06T23:33:56.531449+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# San Juan Basin Trust unitholders approve Argent as successor trustee; effective Feb 15, 2024

## Summary
- 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.

## SEC filing metadata
- accession: 0001140361-24-002351
- form_type: 8-K
- ticker: SJT
- cik: 0000319655
- company_name: SAN JUAN BASIN ROYALTY TRUST
- filed_at: 2024-01-16T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.07, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/319655/000114036124002351/0001140361-24-002351-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/319655/000114036124002351/ef20018930_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-002351
- JSON: https://secwatch.observer/filing/0001140361-24-002351.json
- Plain text: https://secwatch.observer/filing/0001140361-24-002351.txt

## Key facts
- Shareholder Votes
  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
  source text: (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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/319655/000114036124002351/0001140361-24-002351-index.htm
- Shareholder Votes
  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
  source text: (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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/319655/000114036124002351/0001140361-24-002351-index.htm
- Shareholder Votes
  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
  source text: (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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/319655/000114036124002351/0001140361-24-002351-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.