8-K

MILLS MUSIC TRUST (MMTRS)

8-K 2020-06-26 For: 2020-06-22
View Original
Added on April 06, 2026

FORM8-K

CURRENTREPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 22, 2020

MILLS MUSIC TRUST

(Exact name of registrant as specified in its charter)

New York 000-02123 13-6183792
(State or other jurisdiction<br><br><br>of incorporation) (Commission<br><br><br>File Number) (I.R.S. Employer<br><br><br>Identification Number)
C/O HSBC Bank USA, N/A Corporate Trust Issuer Services<br><br><br>452 Fifth Avenue, New York, New York 10018-2706 10018-2076
(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<br>230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17<br>CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17<br>CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange 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 June 22, 2020, Mills Music Trust issued a report to its Unit Holders containing computation details regarding the payment it received attributable to the first quarter of 2020. 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 June 22, 2020, issued by the Trust.

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: June 26, 2020 By: /s/ Garfield Barrett
Garfield Barrett<br> <br>Trust Officer of the<br>Corporate Trustee<br> <br>HSBC Bank U.S.A, NA

Exhibit 99.1

Exhibit 99.1

MILLS MUSIC TRUST

C/OHSBC BANKS U.S.A.

452 FIFTH AVENUE

NEW YORK, NY 10018-2706

June 22, 2020

Quarterly Distribution Report No. 222

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 June 21, 2020.

This Quarterly Distribution report relates to the payment received by the Trust from EMI Entertainment World Inc. (“EMI”) during the first quarter of 2020 (the “Q1 Distribution Period”), the contingent portion payment attributable to royalty income generated by the Trust’s copyright catalogue in the Q1 Distribution Period (the “Contingent Portion Payment”).

The Trust received $229,717 ($.8272 per Trust Unit) for the Contingent Portion Payment attributable to the Q1 Distribution Period, as compared to $296,975 ($1.0693 per Trust Unit) for the payment attributable to the first quarter of 2019.

After receiving the Q1 contingent portion payment, the Trust paid $78,187 to third parties in connection with invoices rendered to the Trust, leaving a balance of $151,530 ($.5457 per Trust Unit). Such balance is being distributed to the Unit Holders of record as of the close of business on June 21, 2020.

During the twelve month period ended June 30, 2020, the Trust’s aggregate distributions will amount to $920,392 ($3.3142 per Trust Unit), as compared to $1,675,140 ($6.0320 per Trust Unit) during the twelve month period ended June 30, 2019.

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 June 30, 2020 and June 30, 2019 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>MonthsEnded<br><br><br>June 30,2020 PerUnit*
Gross royalty income collected by EMI for the period $ 810,982
Less: Related royalty expense 330,631
Amount deducted by EMI 240,149
Adjustment for copyright renewals, etc. 10,485
581,265
Balance as reported by EMI $ 229,717
Payments received by Trust $ 229,717 $ .8272
Royalty audit settlement with EMI
Less: Fees and expenses to Registrar-Transfer Agent and other<br><br><br>administrative expenses 78,187 .2815
Balance available for distribution $ 151,530 $ .5457
Distribution per Unit* $ .5457
* Based on the 277,712 Trust Units outstanding.
--- ---
Three<br><br><br>Months<br> <br>Ended<br><br><br>June 30,2019 PerUnit* Twelve<br><br><br>Months<br> <br>Ended<br><br><br>June 30,2020 Per<br><br><br>Unit Twelve<br><br><br>Months<br> <br>Ended<br><br><br>June 30,2019 Per<br><br><br>Unit
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
$ 973,022 $ 3,468,315 $ 3,072,234
309,786 1,246,225 1,087,180
346,427 1,043,434 929,399
19,834 66,394 90,007
676,047 2,356,053 2,106,586
$ 296,975 $ 1,112,262 $ 965,648
$ 296,975 $ 1.0693 $ 1,112,262 $ 4.0051 $ 965,648 $ 3.4772
1,000,000 3.6009 1,000,000 3.6009
118,823 .4279 191,870 .6909 290,508 1.0461
$ 1,178,152 $ 4.2423 $ 920,392 $ 3.3142 $ 1,675,140 $ 6.0320
$ 4.2423 $ 3.3142 $ 6.0320