Additional Information
Valhi Group, Inc. (“VGI”), National City Lines, Inc. (“National”), Contran Corporation (“Contran”), the Xxxxxx Xxxxxxx Foundation, Inc. (the “Foundation”), the CDCT No. 2 and The Combined Master Retirement Trust (the “CMRT”) are the direct holders of approximately 77.6%, 9.1%, 3.1%, 0.9%, 0.4% and 0.1%, respectively, of the outstanding common stock of Valhi, Inc. (“Valhi”). National, NOA, Inc. (“NOA”) and Xxxxx Holding Company (“Xxxxx Holding”) are the direct holders of approximately 73.3%, 11.4% and 15.3%, respectively, of the outstanding common stock of VGI. Contran and NOA are the direct holders of approximately 85.7% and 14.3%, respectively, of the outstanding common stock of National. Contran and Southwest Louisiana Land Company, Inc. (“Southwest”) are the direct holders of approximately 49.9% and 50.1%, respectively, of the outstanding common stock of NOA. Xxxxx Xxxx Agricultural Corporation, Inc. (“Xxxxx Xxxx”) is the direct holder of 100% of the outstanding common stock of Xxxxx Holding. Contran is the holder of 100% of the outstanding common stock of Xxxxx Xxxx and approximately 88.9% of the outstanding common stock of Southwes
Substantially all of Contran’s outstanding voting stock is held by trusts established for the benefit of certain children and grandchildren of Xxxxxx X. Xxxxxxx (the “Trusts”), of which Xx. Xxxxxxx is the sole trustee, or is held by Xx. Xxxxxxx or persons or other entities related to Xx. Xxxxxxx. As sole trustee of each of the Trusts, Xx. Xxxxxxx has the power to vote and direct the disposition of the shares of Contran stock held by each of the Trusts. Xx. Xxxxxxx, however, disclaims beneficial ownership of any shares of Contran stock that the Trusts ho
The Foundation directly holds approximately 0.9% of the outstanding Valhi common stock. The Foundation is a tax-exempt foundation organized for charitable purposes. Xxxxxx X. Xxxxxxx is the chairman of the board of the Foundation and may be deemed to control the Foundatio
The CDCT No. 2 directly holds approximately 0.4% of the outstanding Valhi common stock. U.S. Bank National Association serves as the trustee of the CDCT No. 2. Contran established the CDCT No. 2 as an irrevocable “rabbi trust” to assist Contran in meeting certain deferred compensation obligations that it owes to Xxxxxx X. Xxxxxxx. If the CDCT No. 2 assets are insufficient to satisfy such obligations, Contran is obligated to satisfy the balance of such obligations as they come due. Pursuant to the terms of the CDCT No. 2, Contran (i) retains the power to vote the shares of Valhi common stock held directly by the CDCT No. 2, (ii) retains dispositive power over such shares and (iii) may be deemed the indirect beneficial owner of such share
The CMRT directly holds 0.1% of the outstanding shares of Valhi common stock. Xxxxx established the CMRT as a trust to permit the collective investment by master trusts that maintain the assets of certain employee benefit plans Valhi and related companies adopt. Xx. Xxxxxxx is the sole trustee of the CMRT and a member of the trust investment committee for the CMRT. Xx. Xxxxxxx is a participant in one or more of the employee benefit plans that invest through the CMR
Xx. Xxxxxx X. Xxxxxxx is chairman of the board of Valhi, VGI, National, XXX, Xxxxx Holding, Xxxxx Xxxx, Southwest and Contran.
By virtue of the offices held, the stock ownership and his services as trustee, all as described above, (a) Xx. Xxxxxxx may be deemed to control certain of such entities and (b) Xx. Xxxxxxx and certain of such entities may be deemed to possess indirect beneficial ownership of, and a pecuniary interest in, shares of common stock directly held by certain of such other entities. However, Xx. Xxxxxxx disclaims such beneficial ownership of, and such pecuniary interest in, such shares beneficially owned, directly or indirectly, by any of such entitie
The reporting person understands that Valmont Insurance Company (“Valmont”), NL Industries, Inc. (“NL”) and a subsidiary of NL directly own 1,000,000, 3,522,967 shares and 1,186,200 shares, respectively, of Valhi common stock as of the date of this statement. Valhi and Tremont LLC are the direct holders of approximately 62.3% and 21.1%, respectively, of the outstanding common stock of NL. Valhi is the holder of 100% of the outstanding membership interests of Tremont LLC and 100% of the outstanding common stock of Valmont. As a result of Valhi’s direct and indirect ownership of Valmont, NL and its subsidiary, the reporting person further understands that, pursuant to Delaware law, Valhi treats the shares of Valhi common stock that Valmont, NL and its subsidiary own as treasury stock for voting purposes. For the purposes of this statement, such shares of Valhi common stock that Valmont, NL and its subsidiary hold directly are not deemed outstandi