As of January 1, 2020, at 12:01 A.M. Eastern Time (the
“Effective Time”), Spirit Master Trust transferred all of its assets (subject to all
of its liabilities) to a newly-created liquidating trust called “SMTA Liquidating
Trust”, a Maryland common law trust, for the benefit of the shareholders of the
Company.
In connection with such transfer, the Liquidating Trust distributed all of the units
of beneficial interests of the Liquidating Trust to the shareholders of the Company,
with each shareholder receiving one Liquidating Trust Unit for each common share of
the Company then held of record by such shareholder.
As of the Effective Time, all outstanding Company Shares were cancelled, and the
Company was dissolved and terminated. Under the Trust Agreement, the Liquidating
Trust units are not transferable or assignable, except by will, intestate succession
or operation of law. The Liquidating Trust units are not certificated and are not
listed on any exchange or quoted on any quotation system or otherwise tradeable in
any public or private transactions.
In accordance with the Plan of Liquidation, the Liquidating Trust was created
pursuant to a Liquidating Trust Agreement, dated as of January 1, 2020, between the
Company and each of the four trustees of the Company, in their capacities as
trustees of the Liquidating Trust. The purpose of the Liquidating Trust is to wind
up the affairs of the Company, liquidate the Company’s remaining assets, pay any
liabilities, costs and expenses of the Company which were assumed by the Liquidating
Trust and/or incurred by the Liquidating Trust, and distribute the net proceeds to
the holders of the Liquidating Trust units.
FAQ's For Liquidating Trust Unitholders
Form 8937 (Common-Liquidating)
Form 8937 (Common-2019 Dividends)
Grantor Letter Per Trust Unit