8-KMaterial AgreementsShareholder MattersExhibits & Filings

ISHARES GOLD TRUST 8-K Report, Material Agreement (Jan 31, 2022)

Filed January 31, 2022For Securities:IAU

Summary

The iShares Gold Trust (IAU) filed an 8-K on January 31, 2022, reporting a significant update to its governing agreement. The Trust, through its Sponsor iShares Delaware Trust Sponsor LLC and Trustee The Bank of New York Mellon, entered into a Fifth Amended and Restated Depositary Trust Agreement. This amendment is notable for two primary reasons: it transforms the Trust's term into a perpetual one, ensuring its continued operation indefinitely, and it increases the annual amount of legal fees and expenses the Sponsor will assume, from $100,000 to $500,000.

Key Highlights

  • 1The Trust's operating term has been changed to perpetual, meaning it will continue indefinitely.
  • 2The Sponsor's commitment to covering legal fees and expenses has increased from $100,000 to $500,000 annually.
  • 3This amendment ensures the long-term operational stability and financial support structure of the iShares Gold Trust.
  • 4The changes are formalized through a Fifth Amended and Restated Depositary Trust Agreement.
  • 5The Bank of New York Mellon continues to serve as the Trustee.
  • 6The filing signifies proactive management by the Sponsor to secure the Trust's ongoing existence and manage associated costs.

Frequently Asked Questions

The most significant change is that the iShares Gold Trust will now have a perpetual term, meaning it is no longer subject to a fixed expiration date and can operate indefinitely.

The Sponsor's increased assumption of legal fees and expenses (from $100,000 to $500,000 annually) reduces the potential burden on the Trust's assets, thereby indirectly benefiting investors by preserving the value of the gold held by the Trust.

This specific 8-K filing primarily concerns the internal governance and operational structure of the Trust itself. It does not directly alter the process for investors to trade shares of IAU on the stock exchange, which remains the same.

A perpetual term means the Trust is established to exist and operate without a predetermined end date. This provides long-term certainty for investors holding IAU, as the Trust is structured for ongoing management and operation.