PERMIAN BASIN ROYALTY TRUST
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
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FY2024 · Filed Mar 14, 2025
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Item 11. Executive Compensation
During the years ended December 31, 2024, 2023 and 2022, the Trustee for such periods received total remuneration as follows:
| Name of Individual or Number of Persons in Group | CashCompensation (1) | Year |
|---|---|---|
| Argent Trust Company, Trustee | $122,730 | 2024 |
| Argent Trust Company, Trustee | $95,443 | 2023 |
| Simmons Bank, Trustee | $130,209 | 2022 |
(1)
Under the Trust Indenture, the Trustee is entitled to an administrative fee for its administrative services, preparation of quarterly and annual statements with attention to tax and legal matters of: (i) 1/20 of 1% of the first $100 million and (ii) Trustee’s standard hourly rate in excess of 300 hours annually. The administrative fee is subject to reduction by a credit for funds provision.
COMPENSATION COMMITTEE
Because the Trust has no directors, it does not have a compensation committee or maintain any equity compensation plans, and the Trust has not engaged any consultants to provide advice or recommendations on the amount or form of compensation. The Trust does not have a principal executive officer or employees and therefore, the pay ratio disclosure is not applicable.
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