PERMIAN BASIN ROYALTY TRUST
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 29, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 11. Executive Compensation
| Item 11. | Executive Compensation |
|---|
During the years ended December 31, 2023, 2022 and 2021, the Trustee for such periods received total remuneration as follows:
| Name of Individual or Number of Persons in Group · CashCompensation · Year | |||
|---|---|---|---|
| Argent Trust Company, Trustee | $95,443 | (1) | 2023 |
| Simmons Bank, Trustee | $130,209 | (1) | 2022 |
| Simmons Bank, Trustee | $108,653 | (1) | 2021 |
| (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.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.