NORTH EUROPEAN OIL
ROYALTY TRUST
Delaware 1-8245 22-2084119
State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation File Number) Identification No.)
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Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Units of Beneficial Interest NRT New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR Section 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR Section 240.12b-2).
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 5.07. Submission of Matters to a Vote of Security Holders.
The Annual Meeting of Unit Owners of North European Oil Royalty Trust (the "Trust") was held on February 19, 2020 (the "Annual Meeting"). A total of 2,653,333 Units were represented in person or by valid proxy at the Annual Meeting. Unit Owners voted on the following three proposals at the Annual Meeting and cast their votes as follows:
Proposal One:
The following persons were elected as Trustees of the Trust to serve until the next Annual Meeting of Unit Owners, by the votes set forth in the following table:
| Broker | |||
| For | Withheld | Non-Votes | |
| Robert P. Adelman | 2,482,594 | 170,739 | 0 |
| Ahron H. Haspel | 2,520,250 | 133,083 | 0 |
| Lawrence A. Kobrin | 1,974,937 | 678,396 | 0 |
| Nancy J. Floyd Prue | 2,534,948 | 118,385 | 0 |
| Willard B. Taylor | 2,526,406 | 126,927 | 0 |
Proposal Two:
The Unit Owners approved, on an advisory (non-binding) basis, the compensation of the Trust's Managing Director as described in the Trust's Proxy Statement for the Annual Meeting, by the votes set forth in the following table:
| Broker | |||
| For | Against | Abstain | Non-Votes |
| 2,294,498 | 236,920 | 121,915 | 0 |
Proposal Three:
The Unit Owners voted, on an advisory (non-binding) basis, to hold an advisory (non-binding) vote on the frequency of the advisory vote on the compensation of the Trust's Managing Director every year, by the votes set forth in the following table:
| Broker | ||||
| One Year | Two Years | Three Years | Abstain | Non-Votes |
| 2,376,161 | 45,731 | 105,128 | 126,313 | 0 |
The Trustees have considered the outcome of this vote
and determined to implement an advisory vote on the
compensation of the Trust's Managing Director every year.
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.
NORTH EUROPEAN OIL ROYALTY TRUST
(Registrant)
/s/ John R. Van Kirk
John R. Van Kirk
Managing Director
February 24, 2020