Company: KRO
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001257640-25-000009
Chunk: 43

Company: KRONOS WORLDWIDE INC
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 43
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 state and local jurisdiction income tax returns, of which Contran is the parent company); |

| ● | Cash management loans – cancellation of our unsecured revolving credit facility with Valhi, which provided for loans by us to Valhi of up to $25 million and which was cancelled in February 2024 by mutual agreement with Valhi; |

| ● | IT data services program - a program pursuant to which Contran and certain of its subsidiaries and related entities, including us, as a group share third-party information technology data services through primary and failover systems, with the costs thereof apportioned among the participating companies; and |

| ● | Office sublease – our lease of a portion of Contran’s Dallas, Texas office for use by us and certain of our North American operations. |

Each of these ordinary course of business related party transactions, and the actions taken by the audit committee in fulfilling its duties and responsibilities under the RPT Policy, are more fully described below. Our audit committee was not required to approve the fee we paid to Contran in 2024 under our intercorporate services agreement with Contran, because such intercorporate services fee is approved by all of the independent directors of our board, as more fully described below. In addition, the audit committee approved our $53.7 million subordinated, unsecured term loan from Contran (and an amendment to it) and the merger of a defined benefit pension plan maintained by a subsidiary of Kronos Worldwide into the defined benefit pension plan maintained by NL, in each case as more fully described below. During 2024, we were not a party to any other related party transactions (ordinary course of business related party transactions or otherwise) requiring approval or ratification under the RPT Policy. Relationships with Related Parties. As set forth under the Security Ownership section of this proxy statement, Lisa K. Simmons and the Family Trust may be deemed to control us. We and other entities that may be deemed to be controlled by or related to Ms. Simmons and the Family Trust sometimes engage in the following:

| ● | intercorporate transactions, such as guarantees, management, expense and insurance sharing arrangements, tax sharing agreements, joint ventures, partnerships, loans, options, advances of funds on open account and sales, leases and exchanges of assets, including securities issued by both related and unrelated parties; and |

| ● | common investment and acquisition strategies, business combinations, reorganizations, recapitalizations, securities repurchases and purchases and sales (and other acquisitions and dispositions) of