Franklin Covey Co Employee Benefit Trust

“Effective September 30, 2025, a successor trustee was appointed pursuant to the terms of the trust agreement for the limited purpose of administering and completing the termination of the trust. The appointment did not modify the substantive provisions of the governing instrument. No other amendments or changes to the trust agreement occurred during the tax year.”

“Pt. V, Line 36 and Schedule N, Pt. I, Line 1- The trustee adopted a formal resolution to terminate the trust effective Septmber 30, 2025. The trust had no assets and no financial activity during the year. All trust assets, if any, had been fully expended or distributed in prior years. As a result, no sale, exchange, transfer, or other disposition of assets occurred during 2025. Schedule N, Pt I, reflects that no assets were disposed of during 2025 in connection with the termination.”

“Schedule N, Pt.I, Line 1, colomns 1(b),1(e) and 1(f)- In order to electronically file the return, these lines were required to completed by the tax software. It does not indicate there was any type of sale, exchange, transfer, or other disposition of assets during 2025.”