CKX Lands, Inc. announced that on August 4, 2021, Michael White notified the company that he would retire from his position as a member of the Registrant’s board of directors, effective immediately. Mr. White’s decision to retire was not the result of any disagreement with the Registrant’s operations, policies or practices. On August 5, 2021, the Registrant’s board of directors appointed Lane T. LaMure to succeed Mr. White. Mr. LaMure will serve for the remainder of Mr. White’s one-year term, which will expire at the annual meeting of the Registrant’s shareholders in 2022. The Registrant’s Board of Directors expects to appoint Mr. LaMure to one or more committees of the board of directors at a later date. The Registrant will file an amendment to this Current Report on Form 8-K to report any such appointment within four business days after the information is determined or becomes available.
CKX Lands, Inc. is engaged in the business of ownership and management of land. Its activities consist of leasing its properties for minerals (oil and gas), raising and harvesting timber and surface use (agriculture, right of ways, hunting). Its segments include oil and gas, surface and timber. It leases its property to oil and gas operators and collects income through its land ownership in the form of oil and gas royalties and lease rentals and geophysical revenues. It receives income from royalty interests and mineral leases related to oil and gas production, timber sales, land sales and surface rents. Oil and Gas segment provides the customer access to a designated tract of land upon which the customer performs exploration, extraction, production and ultimate sale of the oil and gas. It receives royalties on all oil and gas produced by the customer. Timber income is derived from sales of timber on its lands. Surface income is earned from various recurring and non-recurring sources.