13D Filings
Thomson Reuters Corporation
TRI
Amendment
Ownership

69.60%

Total Shares

313,508,841

Issuer CIK

1075124

CUSIP

884903709

Event Date

Apr 15, 2025

Accepted

Apr 16, 2025, 07:38 PM

Reporting Persons (59)
Joint Filing

This is a joint filing. The reported shares may overlap between reporting persons and should not be summed.

NameType% of ClassAggregateSole VotingShared Voting
THOMSON INVESTMENTS LIMITED
CO
69.60%313,508,8410313,508,841
THE WOODBRIDGE COMPANY LIMITED
CO
66.70%300,551,8010300,551,801
1908720 ONTARIO LIMITED
CO
41.90%188,772,1480188,772,148
1000706525 ONTARIO LIMITED
CO
8.10%36,348,839036,348,839
1396164 Ontario Limited
CO
2.90%12,921,791012,921,791
1000927211 Ontario Limited
CO
1.40%6,200,00006,200,000
1000927207 Ontario Limited
CO
1.40%6,200,00006,200,000
1000927210 Ontario Limited
CO
1.40%6,200,00006,200,000
1000927194 Ontario Limited
CO
1.40%6,200,00006,200,000
1000927196 Ontario Limited
CO
1.40%6,200,00006,200,000
1000927197 Ontario Limited
CO
1.40%6,200,00006,200,000
1000927200 Ontario Limited
CO
1.40%6,200,00006,200,000
1000927201 Ontario Limited
CO
1.40%6,200,00006,200,000
1000927202 Ontario Limited
CO
1.40%6,200,00006,200,000
1000927205 Ontario Limited
CO
1.40%6,200,00006,200,000
1000921307 ONTARIO LIMITED
CO
0.40%1,589,64201,589,642
1761173 ONTARIO LIMITED
CO
0.30%1,422,19001,422,190
2677295 ONTARIO LIMITED
CO
0.20%697,0060697,006
1000921264 ONTARIO LIMITED
CO
0.20%844,9760844,976
TLT ISSUE HOLDCO B CORP.
CO
0.20%759,7510759,751
GED INVESTMENTS CORP.
CO
0.10%325,5090325,509
1925124 Ontario Limited
CO
0.10%506,7200506,720
DKRT INVESTMENTS CORP.
CO
0.10%327,7610327,761
1000920847 ONTARIO LIMITED
CO
0.10%260,0000260,000
TLT INVESTMENTS CORP.
CO
0.10%530,1760530,176
1000919995 ONTARIO LIMITED
CO
0.10%260,0000260,000
1754693 ONTARIO LIMITED
CO
0.10%437,8780437,878
PJT INVESTMENTS CORP.
CO
0.10%270,2970270,297
1000920848 ONTARIO LIMITED
CO
0.10%260,0000260,000
1000921309 ONTARIO LIMITED
CO
0.10%529,8810529,881
1000078931 ONTARIO LIMITED
CO
0.10%357,1050357,105
JRD INVESTMENTS CORP.
CO
0.10%241,5710241,571
1000921305 ONTARIO LIMITED
CO
0.10%287,2740287,274
1000921303 ONTARIO LIMITED
CO
0.10%298,6750298,675
1000921265 ONTARIO LIMITED
CO
0.10%281,6580281,658
1000031857 ONTARIO LIMITED
CO
0.10%444,5750444,575
BG INVESTMENTS CORP.
CO
0.10%286,3700286,370
1000921257 ONTARIO LIMITED
CO
0.10%285,1600285,160
1000921254 ONTARIO LIMITED
CO
0.10%287,0600287,060
1000921297 ONTARIO LIMITED
CO
0.00%64,585064,585
DYM INVESTMENTS CORP.
CO
0.00%101,0280101,028
1000921259 ONTARIO LIMITED
CO
0.00%178,1010178,101
2754783 ONTARIO LIMITED
CO
0.00%6,98806,988
1000921253 ONTARIO LIMITED
CO
0.00%65,299065,299
KRT INVESTMENTS CORP.
CO
0.00%87,754087,754
TLT ISSUE HOLDCO A CORP.
CO
0.00%195,9000195,900
MB FINANCE CORP.
CO
0.00%1,59601,596
Woodbridge Investments Corporation
CO
0.00%2,30302,303
2775329 ONTARIO LIMITED
CO
0.00%4,14504,145
ACG INVESTMENTS CORP.
CO
0.00%167,9370167,937
SEG FAMILY CORP.
CO
0.00%66,546066,546
PGF INVESTMENTS CORP.
CO
0.00%20,358020,358
PGF FAMILY CORP.
CO
0.00%19,984019,984
LCC INVESTMENTS CORP.
CO
0.00%168,1270168,127
DKRT FAMILY CORP.
CO
0.00%81,860081,860
TCM INVESTMENTS CORP.
CO
0.00%69,500069,500
1000921268 ONTARIO LIMITED
CO
0.00%198,7550198,755
1000921299 ONTARIO LIMITED
CO
0.00%67,423067,423
LLD INVESTMENTS CORP.
CO
0.00%106,6390106,639
Disclosure Items (7)

Security Title

Common Shares of Thomson Reuters Corporation

Issuer Name

Thomson Reuters Corporation

Issuer Address

19 Duncan Street, Toronto, Ontario, Z4, M5H 3H1

Filing Persons

Thomson Investments Limited, Woodbridge, 1908720 Ontario Limited, 1000706525 Ontario Limited, 1396164 Ontario Limited, 1925124 Ontario Limited, Woodbridge Investments Corporation, 1000927194 Ontario Limited, 1000927196 Ontario Limited, 1000927197 Ontario Limited, 1000927200 Ontario Limited, 1000927201 Ontario Limited, 1000927202 Ontario Limited, 1000927205 Ontario Limited, 1000927207 Ontario Limited, 1000927210 Ontario Limited, 1000927211 Ontario Limited, KRT Investments Corp., DKRT Family Corp., DKRT Investments Corp., 1000920847 Ontario Limited, MB Finance Corp., TLT Investments Corp., TLT Issue Holdco A Corp., TLT Issue Holdco B Corp., 1761173 Ontario Limited, 2677295 Ontario Limited, 1000919995 Ontario Limited, 1754693 Ontario Limited, PJT Investments Corp., 1000920848 Ontario Limited, PGF Investments Corp., PGF Family Corp., LCC Investments Corp., 1000921307 Ontario Limited, 1000921309 Ontario Limited, 1000078931 Ontario Limited, 1000921299 Ontario Limited, LLD Investments Corp., 1000921297 Ontario Limited, JRD Investments Corp., 1000921305 Ontario Limited, 2754783 Ontario Limited, 1000921303 Ontario Limited, GED Investments Corp., 1000921264 Ontario Limited, 1000921265 Ontario Limited, 1000031857 Ontario Limited, SEG Family Corp., TCM Investments Corp., 1000921268 Ontario Limited, DYM Investments Corp., 1000921259 Ontario Limited, BG Investments Corp., 1000921257 Ontario Limited, ACG Investments Corp., 1000921253 Ontario Limited, 2775329 Ontario Limited and 1000921254 Ontario Limited.

Business Address

See Schedule A for the address of each Reporting Person.

Principal Occupation

See Schedule A for certain information as to the executive officers and directors of each Reporting Person.

Convictions

Further, to the knowledge of each Reporting Person, neither such Reporting Person, nor any executive officer or director of such Reporting Person, has been a party during the last five years to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violation of, or prohibiting or mandating activities subject to, U.S. federal or state securities laws, or finding any violation with respect to such laws.

Citizenship

See Schedule A for certain information as to the executive officers and directors of each Reporting Person. For further explanation of the background of the arrangements relating to ownership of Common Shares, see the "Explanatory Note" above.

Not applicable.

As previously reported, on December 23, 2024, Woodbridge and Thomson Reuters announced that W. Edmund Clark, C.M. would complete his service on the Thomson Reuters board of directors (the "Board") at Thomson Reuters' upcoming annual meeting of shareholders to be held in 2025 (the "AGM"). Mr. Clark has served on the Board as a representative of Woodbridge, Thomson Reuters' principal shareholder, since 2015. On April 16, 2025, Woodbridge announced that Michael Friisdahl and Paul Sagan were nominated for election to the Thomson Reuters' board of directors as representatives of Woodbridge following a search by Woodbridge and Thomson Reuters. Mr. Friisdahl and Mr. Sagan will stand for election at Thomson Reuters' upcoming AGM on June 4, 2025. Information regarding Mr. Friisdahl and Mr. Sagan will be included in Thomson Reuters' management proxy circular for the AGM. In connection with Mr. Sagan's nomination to the Thomson Reuters board, Woodbridge plans to enter into an agreement with Mr. Sagan pursuant to which Mr. Sagan will agree to serve as Woodbridge's director nominee and to provide Woodbridge with certain advisory services in exchange for compensation (the "Advisor Agreement"). A copy of the form of Advisor Agreement is filed as Exhibit 99.4 hereto and incorporated herein by reference. The foregoing summary of the form of Advisor Agreement is qualified in its entirety by reference to the form of Advisor Agreement. Thomson Investments Limited, Woodbridge and the other Reporting Persons plan to maintain their controlling interest in Thomson Reuters. From time to time, each of the Reporting Persons may acquire or dispose of Common Shares for liquidity and other reasons. Although there are currently no plans or proposals, the Reporting Persons may consider or develop plans or proposals in the future that relate to items (a) through (j) below. This may include, but not be limited to, increasing or decreasing their investment in Common Shares and/or engagement with Thomson Reuters, other shareholders, advisors or third-parties with respect to Thomson Reuters' strategy, corporate governance including director nominees, capital structure and strategic alternatives. Except as disclosed herein, none of the Reporting Persons nor, to the knowledge of the Reporting Persons, their respective directors and executive officers, has any plans or proposals that relate to or would result in: (a) the acquisition by any person of additional securities of Thomson Reuters, or the disposition of securities of Thomson Reuters; (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving Thomson Reuters; (c) a sale or transfer of a material amount of assets of Thomson Reuters; (d) any change in the present Board or management of Thomson Reuters, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the Board; (e) any material change in the present capitalization or dividend policy of Thomson Reuters; (f) any other material change in Thomson Reuters's business or corporate structure; (g) changes in the charter, bylaws or instruments corresponding thereto of Thomson Reuters or other actions which may impede the acquisition of control of Thomson Reuters by any person; (h) causing a class of securities of Thomson Reuters to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) a class of equity securities of Thomson Reuters becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934; or (j) any action similar to any of those enumerated above.

Percentage of Class

See cover pages of this Amendment for each of the Reporting Persons and Schedule A for each of the directors and executive officers of the Reporting Persons.

Number of Shares

See cover pages of this Amendment for each of the Reporting Persons and Schedule A for each of the directors and executive officers of the Reporting Persons.

Transactions

None of the Reporting Persons has effected any transactions in Common Shares during the past 60 days, except as set forth below. On March 10, 2025, 1396164 Ontario Limited acquired 43,662 Common Shares pursuant to the Thomson Reuters Amended and Restated Dividend Reinvestment Plan (the "DRIP"). On April 9, 2025, DKRT Family Corp. acquired 4 Common Shares from Osmington Inc., being all of the Common Shares held by Osmington Inc., for cash consideration of CAD$920.96. On April 9, 2025, PJT Investments Corp. acquired 4 Common Shares from Thomvest Seed Capital Inc. ("TSCI"), being all of the Common Shares held by TSCI, for cash consideration of CAD$920.96. None of the executive officers or directors of the Reporting Persons has effected any transactions in Common Shares during the past 60 days, except as set forth below. On March 17, 2025, Peter J. Thomson, Director and Co-Chairman of Woodbridge, acquired 77 Common Shares as compensation for serving as director of Thomson Reuters.

Shareholders

Not applicable.

Date of 5% Ownership

Not applicable.

Item 6 is hereby amended to add the following: In connection with his expected election to the Thomson Reuters' board of directors, Woodbridge plans to enter into the Advisor Agreement with Paul Sagan pursuant to which Mr. Sagan will agree to serve as Woodbridge's director nominee and to provide Woodbridge with certain advisory services in exchange for compensation. A copy of the form of Advisor Agreement is filed as Exhibit 99.4 hereto and incorporated herein by reference. The foregoing summary of the form of Advisor Agreement is qualified in its entirety by reference to the form of Advisor Agreement. Certain Reporting Persons have pledged 2,839,678 Common Shares to Royal Bank of Canada to secure certain obligations under seven demand credit facilities. Additionally, other Reporting Persons are parties to a Negative Pledge Agreement in favor of Royal Bank of Canada, pursuant to which 709,453 Common Shares held by such Reporting Persons cannot be sold, assigned, transferred, disposed of or encumbered in any way without the prior consent of Royal Bank of Canada. As previously reported, in October 2021, David K.R. Thomson and Peter J. Thomson, co-Chairmen and Directors of Woodbridge, were granted options (the "Options") pursuant to The Woodbridge Company Limited 2000 Stock Incentive Plan (the "Plan") to acquire common shares of 1396164 Ontario Limited and related share appreciation rights to be settled in cash. David K.R. Thomson and Peter J. Thomson have voluntarily surrendered their vested and unvested Options to Woodbridge for cancellation. As of April 10, 2025, David K.R. Thomson and Peter J. Thomson hold no Options. As of April 10, 2025, David K.R. Thomson and Peter J. Thomson hold 129,340 and 16,643 deferred share units ("DSUs"), respectively, issued to them by Thomson Reuters for compensation for service as a director of Thomson Reuters. Each DSU has the same value as one Common Share, though DSUs do not have voting rights. DSUs accumulate additional units based on notional equivalents of dividends paid on Common Shares. DSUs are fully vested upon grant, but they are only settled in Common Shares or, at the election of Thomson Reuters, in cash, following termination of the director's board service in respect of Thomson Reuters. Any Common Shares delivered to a director of Thomson Reuters in connection with the settlement of DSUs are purchased in the open market.

Exhibit 99.1 - The Woodbridge Company Limited 2000 Stock Incentive Plan. Exhibit 99.2 - Form of Option Grant Letter. Exhibit 99.3 - Joint Filing Agreement. Exhibit 99.4 - Form of Advisor Agreement. Exhibit 99.5 - Power of Attorney. Exhibit 99.6 - Schedule A.

Thomson Reuters Corporation — Schedule 13D | 13D Filings