false 0000066496 0000066496 2023-09-26 2023-09-26

 

 

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): September 26, 2023

 

 

MILLS MUSIC TRUST

(Exact name of registrant as specified in its charter)

 

 

 

New York   000-02123   13-6183792

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification Number)

 

C/O HSBC Bank USA, N/A Corporate Trust Issuer Services

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 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 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 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 September 26, 2023, Mills Music Trust issued a report to its Unit Holders containing computation details regarding the payment it received attributable to the second quarter of 2023. 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 September 26, 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: September 26, 2023     By:  

/s/ Garfield Barrett

      Garfield Barrett
      Trust Officer of the Corporate Trustee
      HSBC Bank U.S.A, NA

Exhibit 99.1

MILLS MUSIC TRUST

C/O HSBC BANKS U.S.A.

452 FIFTH AVENUE

NEW YORK, NY 10018-2706

September 26, 2023

Quarterly Distribution Report No. 235

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 September 25, 2023.

This Quarterly Distribution report relates to the payment received by the Trust from EMI Entertainment World Inc. (“EMI”) during the second quarter of 2023 (the “Q2 Distribution Period”), in respect of the contingent portion payment attributable to royalty income generated by the Trust’s copyright catalogue in the Q2 Distribution Period (the “Contingent Portion Payment”).

The Trust received $467,307 ($1.6827 per Trust Unit) for the Contingent Portion Payment attributable to the Q2 Distribution Period, as compared to $451,247 ($1.6249 per Trust Unit) for the payment attributable to the second quarter of 2022.

After receiving the Contingent Portion Payment, the Trust paid $71,498 to third parties in connection with invoices rendered to the Trust, leaving a balance of $395,809 ($1.4253 per Trust Unit). Such balance is being distributed to the Unit Holders of record as of the close of business on September 25, 2023.

During the twelve month period ended September 30, 2023, the Trust’s aggregate distributions will amount to $867,813 ($3.1248 per Trust Unit), as compared to $845,968 ($3.0462 per Trust Unit) during the twelve month period ended September 30, 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 September 30, 2023 and September 30, 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

Months
Ended
September 30,
2023

            Per
Unit*
 

 

 

Gross royalty income collected by EMI for the period

   $ 1,313,969        
  

 

 

       

Less: Related royalty expense

     385,575        

Amount deducted by EMI

     459,244        

Adjustment for copyright renewals, etc.

     1,843        

Foreign Tax Credits Received

     —          
  

 

 

       
     846,662        
  

 

 

       

Balance as reported by EMI

   $ 467,307        
  

 

 

       

Payments received by Trust

   $ 467,307         $ 1.6827  
        

Less: Fees and expenses to Registrar-Transfer Agent and other

            administrative expenses

     71,498           .2574  
  

 

 

       

 

 

 

Balance available for distribution

   $ 395,809         $ 1.4253  
  

 

 

       

 

 

 

Distribution per Unit*

      $ 1.4253     
     

 

 

    

 

*

Based on the 277,712 Trust Units outstanding.

 

 


 

 

 

 

Three

Months

Ended

September 30,

2022

          Per
Unit*
   

Twelve

Months

Ended

September 30,
2023

         

Per

Unit

   

Twelve

Months

Ended

September 30,

2022

         

Per

Unit

 

 

 

 
$ 1,113,654           $ 3,621,671           $ 3,387,708        

 

 

         

 

 

         

 

 

       
  299,690             1,294,716             1,208,837        
  361,563             1,117,714             1,037,887        
  1,154             5,265             5,192        
  —               —               —          

 

 

         

 

 

         

 

 

       
  662,407             2,417,695             2,251,916        

 

 

         

 

 

         

 

 

       
$ 451,247           $ 1,203,976           $ 1,135,792        

 

 

         

 

 

         

 

 

       
$ 451,247       $ 1.6249     $ 1,203,976       $ 4.3353     $ 1,135,792       $ 4.0898  
                     

 

 

 

53,393

 

 

      .1923       336,163         1.2105       289,824         1.0436  

 

 

     

 

 

   

 

 

     

 

 

   

 

 

     

 

 

 
$ 397,854       $ 1.4326     $ 867,813       $ 3.1248     $ 845,968       $ 3.0462  

 

 

     

 

 

   

 

 

     

 

 

   

 

 

     

 

 

 
  $ 1.4326           $ 3.1248           $ 3.0462      
 

 

 

         

 

 

         

 

 

     
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Document and Entity Information
Sep. 26, 2023
Cover [Abstract]  
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Entity Central Index Key 0000066496
Document Type 8-K
Document Period End Date Sep. 26, 2023
Entity Registrant Name MILLS MUSIC TRUST
Entity Incorporation State Country Code NY
Entity File Number 000-02123
Entity Tax Identification Number 13-6183792
Entity Address, Address Line One C/O HSBC Bank USA, N/A Corporate Trust Issuer Services
Entity Address, Address Line Two 452 Fifth Avenue
Entity Address, Address Line Three 452 Fifth Avenue
Entity Address, City or Town New York
Entity Address, State or Province NY
Entity Address, Postal Zip Code 10018-2706
City Area Code (212)
Local Phone Number 525-1349
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Pre Commencement Issuer Tender Offer false
Entity Emerging Growth Company false

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