Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
ConvexityShares Trust: Amendment to Declaration of Trust changing Event of Withdrawal definition, unit issuance clarification, sponsor withdrawal notice period from 90 to 30 days, and adding successor sponsor provision to avoid dissolution upon Event of Withdrawal (effective 2023-05-19).
- Change
- charter amendment
- Effective
- 2023-05-19
Exact text from the filing
Effective May 19, 2023, ConvexityShares LLC (“ConvexityShares”) executed an amendment to the ConvexityShares Trust’s (the “Trust”) Declaration of Trust and Trust Agreement (“Declaration of Trust”), which amended certain provisions as follows: 1. The definition of “Event of Withdrawal” was revised to state that the sponsor’s actual withdrawal, and not the provision of notice of withdrawal, constitutes an Event of Withdrawal. 2. Section 4.2(a) was amended to clarify that each series within the Trust can issue, and has issued, units in accordance with the terms of the Declaration of Trust. 3. Section 5.12(a) was revised to change the notice period for a withdrawal of the sponsor from ninety days to thirty days. 4. Section 14.1(a) was revised to add that an Event of Withdrawal will not cause the dissolution of the Trust, if prior to the Event of Withdrawal, the Sponsor appoints a successor sponsor that agrees to carry on the business of the Trust.
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