8-K

MILLS MUSIC TRUST (MMTRS)

8-K 2023-03-27 For: 2023-03-27
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Added on April 06, 2026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 27, 2023

MILLS MUSIC TRUST

(Exact name of registrant as specified in its charter)

New York 000-02123 13-6183792
(State or other jurisdiction<br> <br>of incorporation) (Commission<br> <br>File Number) (I.R.S. Employer<br> <br>Identification Number)
C/O HSBC Bank USA, N/A Corporate Trust Issuer Services<br> <br>452 Fifth Avenue New York, New York 10018-2706 10018-2076
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(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (212) 525-1349

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading<br> <br>Symbol(s) Name of each exchange<br> <br>on which registered
N/A N/A N/A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 8.01 Other Events.

On March 27, 2023, Mills Music Trust issued a report to its Unit Holders containing computation details regarding the payment it received attributable to the fourth quarter of 2022. The full text of the report is included as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits:

99.1 Quarterly distribution report, dated March 27, 2023, issued by the Trust.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

MILLS MUSIC TRUST
Date: March 27, 2023 By: /s/ Garfield Barrett
Garfield Barrett<br> <br>Trust Officer of the Corporate Trustee<br> <br>HSBC Bank U.S.A, NA

EX-99.1

MILLS MUSIC TRUST

C/O HSBC BANKS U.S.A.

452FIFTH AVENUE

NEW YORK, NY 10018-2706

March 27, 2023

QuarterlyDistribution Report No. 233

To the holders (the “Unit Holders”) of Trust Certificates representing interests (the “Trust Units”) in Mills Music Trust (the “Trust”):

Enclosed you will find a check representing your share of a distribution by the Trust to the Unit Holders of record at the close of business on March 26, 2023.

This Quarterly Distribution report relates to the payment received by the Trust from EMI Entertainment World Inc. (“EMI”) during the fourth quarter of 2022 (the “Q4 Distribution Period”), in respect of the contingent portion payment attributable to royalty income generated by the Trust’s copyright catalogue in the Q4 Distribution Period (the “Contingent Portion Payment”).

The Trust received $272,831 ($.9824 per Trust Unit) for the Contingent Portion Payment attributable to the Q4 Distribution Period, as compared to $220,729 ($.7948 per Trust Unit) for the payment attributable to the fourth quarter of 2022.

After receiving the Contingent Portion Payment, the Trust paid $87,981 to third parties in connection with invoices rendered to the Trust, leaving a balance of $184,850 ($.6656 per Trust Unit). Such balance is being distributed to the Unit Holders of record as of the close of business on March 26, 2023.

During the twelve month period ended March 31, 2023, the Trust’s aggregate distributions will amount to $830,452 ($2.9903 per Trust Unit), as compared to $755,654 ($2.7210 per Trust Unit) during the twelve month period ended March 31, 2022.

Additional computation details are set forth in the attached report.

The information contained in this Quarterly Distribution Report will be disclosed on a Form 8-K filed with the Securities and Exchange Commission (the “SEC”). The Trust’s SEC filings are available to the public over the internet on the SEC’s web site at http://www.sec.gov.

Very truly yours,

MILLS MUSIC TRUST

The following is a computation of amounts available for distribution and/or the payment of administrative expenses of the Trust during the three months and twelve months ended March 31, 2023 and March 31, 2022 out of payments made to the Trust in connection with a deferred contingent purchase price obligation under the asset purchase agreement, dated December 5, 1964:

Three<br><br><br>MonthsEndedMarch 31,2023 PerUnit*
Gross royalty income collected by EMI for the period $ 900,151
Less: Related royalty expense 355,883
Amount deducted by EMI 269,449
Adjustment for copyright renewals, etc. 1,988
Foreign Tax Credits Received
627,320
Balance as reported by EMI $ 272,831
Payments received by Trust $ 272,831 $ .9824
Less: Fees and expenses to Registrar-Transfer Agent and other<br><br><br>administrative expenses 87,981 .3168
Balance available for distribution $ 184,850 $ .6656
Distribution per Unit* $ .6656
* Based on the 277,712 Trust Units outstanding.
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Three<br><br><br>Months<br> <br>Ended<br><br><br>March 31,2022 PerUnit* Twelve<br><br><br>Months<br> <br>Ended<br><br><br>March 31,2023 Per<br><br><br>Unit Twelve<br><br><br>Months<br> <br>Ended<br><br><br>March 31,2022 Per<br><br><br>Unit
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
$ 567,165 $ 3,614,766 $ 2,973,942
203,015 1,328,527 1,104,963
141,248 1,101,487 862,343
2,173 5,038 5,300
346,436 2,435,052 1,972,606
$ 220,729 $ 1,179,714 $ 1,001,336
$ 220,729 $ .7948 $ 1,179,714 $ 4.2480 $ 1,001,336 $ 3.6057
65,429 .2356 349,262 1.2577 245,682 .8847
$ 155,300 $ .5592 $ 830,452 $ 2.9903 $ 755,654 $ 2.7210
$ .5592 $ 2.9903 $ 2.7210