Mills Music Trust Reports Quarterly Distribution Details in Recent 8-K Filing

Mills Music Trust, an entity governed by its charter, released a filing through a Form 8-K to the Securities and Exchange Commission on December 31, 2024. The report unveiled a comprehensive breakdown of financial updates for its Unit Holders regarding the payment received in the third quarter of 2024.

In the filing, it is stated that Mills Music Trust received $241,778 for the Contingent Portion Payment attributed to the Q3 Distribution Period. This amount translates to $.8706 per Trust Unit, marking a difference from the previous payment received in the third quarter of 2023, which totaled $281,292 or $1.0129 per Trust Unit.

It was further disclosed that the Trust incurred administrative expenses relating to third-party invoices amounting to $277,422. This figure surpasses the accrued expenses at the record date, resulting in a deficit. Consequently, there will not be any distributions to Unit Holders concerning the Contingent Portion Payment. The Trustees have decided to establish a reserve from future distributions to address the current deficit and anticipated administrative costs.

The detailed computation of amounts available for distribution and administrative expenses during the specified periods was specified in the filing. These calculations are part of the Trust’s ongoing efforts to ensure transparency and compliance. The full text of the report, including these computations, is provided as Exhibit 99.1 in the Current Report on Form 8-K.

For further details and a more comprehensive review of the financial status of Mills Music Trust outlined in the filing, interested parties can access the information through the Securities and Exchange Commission’s website.

As certified by its Trust Officer, Garfield Barrett, and in line with the Securities Exchange Act of 1934 requirements, Mills Music Trust finalized this report on December 31, 2024, detailing its financial standing and recent distribution particulars to Unit Holders as part of its commitment to transparent reporting practices.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Mills Music Trust’s 8K filing here.

About Mills Music Trust

Mills Music Trust holds the right to receive payment of a deferred contingent purchase price obligation relating to music and lyric copyright catalogue payable by EMI Mills Music Inc primarily in the United States. The payments of the contingent portion are based on royalty income generated by the catalogue.