San Juan Basin Royalty Trust Switches Trustee to Argent Trust Company
Ticker: SJT · Form: 8-K · Filed: Feb 15, 2024 · CIK: 319655
Sentiment: neutral
Topics: trustee-change, corporate-governance, administrative
TL;DR
**San Juan Basin Royalty Trust just swapped its trustee from PNC to Argent Trust Company, effective February 15, 2024.**
AI Summary
San Juan Basin Royalty Trust filed an 8-K on February 15, 2024, announcing a change in its trustee from PNC Bank, National Association to Argent Trust Company. This change involves an "Entry into a Material Definitive Agreement" and "Amendments to Articles of Incorporation or Bylaws." The new trustee's address is 3838 Oak Lawn Ave Suite 1720, Dallas, TX 75219, and their telephone number is (866) 809-4553.
Why It Matters
A change in trustee can impact the administration and management of the trust's assets, potentially affecting distributions to unitholders and operational efficiency.
Risk Assessment
Risk Level: low — The filing primarily concerns an administrative change in trustee, which typically carries low direct financial risk.
Key Players & Entities
- San Juan Basin Royalty Trust (company) — registrant
- PNC Bank, National Association (company) — former trustee
- Argent Trust Company (company) — new trustee
- February 15, 2024 (date) — date of earliest event reported
- (866) 809-4553 (dollar_amount) — new trustee's phone number
FAQ
What was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on February 15, 2024.
Which company is the new trustee for San Juan Basin Royalty Trust?
Argent Trust Company is the new trustee for San Juan Basin Royalty Trust.
What was the former trustee of San Juan Basin Royalty Trust?
PNC Bank, National Association was the former trustee of San Juan Basin Royalty Trust.
What are the primary items of information reported in this 8-K?
The primary items of information reported are "Entry into a Material Definitive Agreement," "Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year," "Other Events," and "Financial Statements and Exhibits."
Where is the business address of the new trustee, Argent Trust Company?
The business address of Argent Trust Company is 3838 Oak Lawn Ave Suite 1720, Dallas, TX 75219.
Filing Stats: 796 words · 3 min read · ~3 pages · Grade level 11.8 · Accepted 2024-02-15 09:16:58
Key Financial Figures
- $15,000,000 — ivided profits requirements of at least $15,000,000 to serve as a successor trustee of the
Filing Documents
- d790499d8k.htm (8-K) — 22KB
- d790499dex4f.htm (EX-4.F) — 17KB
- d790499dex10c.htm (EX-10.C) — 30KB
- d790499dex991.htm (EX-99.1) — 5KB
- 0001193125-24-037154.txt ( ) — 76KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 4(f) First Amendment dated February 15, 2024 to the Amended and Restated Royalty Trust Indenture dated December 12, 2007 10(c) Trustee Succession Agreement dated effective February 15, 2024 by and among PNC Bank. National Association, individually and as trustee of the San Juan Basin Royalty Trust, and Argent Trust Company, individually and as successor trustee of the San Juan Basin Royalty Trust 99.1 Press Release, dated February 15, 2024
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. ARGENT TRUST COMPANY, AS TRUSTEE FOR THE SAN JUAN BASIN ROYALTY TRUST (Registrant) Date: February 15, 2024 By: /S/ NANCY WILLIS Nancy Willis Director of Royalty Trust Services