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<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B></B></FONT><FONT style="FONT-SIZE: 18pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>UNITED STATES<BR>SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>
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<P id=PARA5 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 18pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>FORM 8-K</B></FONT></P>
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<P id=PARA9 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>CURRENT REPORT</B></FONT></P>
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<P id=PARA11 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>Pursuant to Section&nbsp;13 or 15(d) of the</B><B><BR></B><B>Securities Exchange Act of 1934</B></FONT></P>
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<P id=PARA13 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>Date of Report (Date of Earliest Event Reported): </B><B>December 22,</B><B> 2016</B></FONT></P>
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<P id=PARA17 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 24pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>iShares<FONT style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">&#174;</FONT> </B><B>Silver</B><B> Trust</B></FONT></P>
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<P id=PARA21 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>New York</B><B><BR></B><B>(State or other jurisdiction</B><B>&nbsp;</B><B>of </B></FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>incorporation)</B></FONT></P></TD>
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<P id=PARA22 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>001-32</B><B>863<BR></B><B>(Commission</B>&nbsp;<B>File Number)</B></FONT></P></TD>
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<P id=PARA23 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>13-7474456<BR></B><B>(I.R.S. Employer</B><B>&nbsp;</B><B>Identification No.)</B></FONT></P></TD></TR></TABLE>
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<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>c/o iShares</B><FONT style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"><B>&#174;</B></FONT><B> Delaware Trust Sponsor LLC</B><BR><B>400 Howard Street</B><B><BR></B><B>San Francisco, California 94105</B><B><BR></B><B>Attn: Product Management Team</B><BR><B>iShares</B><FONT style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"><B>&#174;</B></FONT><B> Product Research &amp; Development</B><BR><B>(Address of Principal Executive Offices)</B></FONT></P>
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<P id=PARA27 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>Registrant&#8217;s telephone number, including area code: (415)&nbsp;670-2000</B></FONT></P>
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<P id=PARA29 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>Not Applicable</B><B><BR></B><B>Former name or former address, if changed since last report</B></FONT></P>
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<P id=PARA33 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</FONT></P>
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<P id=PARA142><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></P></FONT></TD></TR></TABLE>
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<P id=PARA148><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></P></FONT></TD></TR></TABLE>
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<P id=PARA46 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>Item 1.01. Entry into a Material Definitive Agreement </B></FONT></P>
<P id=PARA47 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></P>
<P id=PARA48 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">iShares Silver Trust (the &#8220;Registrant&#8221;) issues and redeems units of beneficial interest (or &#8220;Shares&#8221;) representing fractional undivided beneficial interests in its net assets only in exchange for silver, only in aggregations of 50,000 Shares or integral multiples thereof (each, a &#8220;Basket&#8221;), and only in transactions with registered broker-dealers that have previously entered into an agreement with the Registrant governing the terms and conditions of such issuance (such broker-dealers, the &#8220;Authorized Participants&#8221;). The Trust is administered by The Bank of New York Mellon (the &#8220;Trustee&#8221;) and JPMorgan Chase Bank N.A., London branch (the &#8220;Custodian&#8221;) is responsible for the safekeeping of silver owned by the Registrant.</FONT></P>
<P id=PARA49 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></P>
<P id=PARA50 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">The Registrant entered into the following amendments and restatements of its operating agreements to make certain operational updates to the agreements, including most significantly to allow Authorized Participants to order, or surrender for redemption, Baskets using the electronic order system of the Trustee: </FONT></P>
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<P id=PARA54 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&#9679;</FONT></P></TD>
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<P id=PARA55 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">Second Amended and Restated Depositary Trust Agreement, dated as of December 22, 2016, by and between &nbsp;iShares Delaware Trust Sponsor LLC and The Bank of New York Mellon (the &#8220;Trust Agreement&#8221;); </FONT></P></TD></TR></TABLE>
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<TD style="WIDTH: 36pt">&nbsp;</TD>
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<P id=PARA60 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">Standard Terms for Authorized Participant Agreements, dated as of December 22, 2016, by and between iShares Delaware Trust Sponsor LLC and The Bank of New York Mellon (the &#8220;Standard Terms for Authorized Participant Agreements&#8221;); and</FONT></P></TD></TR></TABLE>
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<TD style="WIDTH: 36pt">&nbsp;</TD>
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<P id=PARA64 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&#9679;</FONT></P></TD>
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<P id=PARA65 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">First Amended and Restated Custodian Agreement, dated as of December 22, 2016, by and between The Bank of New York Mellon and JPMorgan Chase Bank N.A., London branch (the &#8220;Custodian Agreement&#8221;, together with the Trust Agreement and the Standard Terms for Authorized Participant Agreements, the &#8220;Agreements&#8221;).</FONT></P></TD></TR></TABLE>
<P id=PARA66 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></P>
<P id=PARA67 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">The Registrant's affiliates have engaged in, and may in the future engage in, various commercial dealings in the ordinary course of business with the parties to the Agreements. Such parties have received, or may in the future receive, customary fees and commissions for these transactions.</FONT></P>
<P id=PARA68 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></P>
<P id=PARA69 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">The foregoing description of the amendments to the Agreements does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreements, which have been filed with this Current Report on Form 8-K as Exhibit 4.1, Exhibit 4.2 and Exhibit 10.1.</FONT></P>
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<P id=PARA71 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>Item 3.03. Material Modification to the Rights of Security Holders</B></FONT></P>
<P id=PARA72 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></P>
<P id=PARA73 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">The information set forth in Item&nbsp;1.01 relating to the Trust Agreement is incorporated herein by reference.</FONT></P>
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<P id=PARA75 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>Item 9.01. Financial Statements and Exhibits</B></FONT></P>
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<P id=PARA5><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">Exhibit 4.1</FONT></P></TD>
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<P id=PARA6><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">Second Amended and Restated Depositary Trust Agreement, dated as of December 22, 2016, by and between &nbsp;iShares Delaware Trust Sponsor LLC and The Bank of New York Mellon.<FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"></FONT></FONT></P></FONT></TD></TR></TABLE>
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<TD style="WIDTH: 72pt; VERTICAL-ALIGN: top">Exhibit 4.2 </TD>
<TD style="VERTICAL-ALIGN: top">Standard Terms for Authorized Participant Agreements, dated as of December 22, 2016, by and between iShares Delaware Trust Sponsor LLC and The Bank of New York Mellon.</TD></TR></TABLE>
<P id=PARA8 style="MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</P>
<TABLE id=TBL2  style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 72pt; VERTICAL-ALIGN: top">Exhibit 10.1 </TD>
<TD style="VERTICAL-ALIGN: top">First Amended and Restated Custodian Agreement, dated as of December 22, 2016, by and between The Bank of New York Mellon and JPMorgan Chase Bank N.A., London branch.</TD></TR></TABLE>
<P id=PARA9.1 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<DIV id=PGBK9  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR9  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM9  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>

<DIV id=PGHDR9  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA82.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B></B></FONT></P>
<P id=PARA85 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif; TEXT-TRANSFORM: uppercase"><B>SIGNATURES</B></FONT></P>
<P id=PARA86 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></P>
<P id=PARA87 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.</FONT></P>
<P id=PARA88 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></P>
<P id=PARA89 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">Date: December 22, 2016</FONT></P>
<P id=PARA90 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></P>
<TABLE id=TBL153  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 62%" vAlign=top width="50%">
<P id=PARA153.1 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 12%" vAlign=top width="38%" colSpan=3>
<P id=PARA153.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>iShares</B><FONT style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"><B>&#174;</B></FONT></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><B>&nbsp;</B><B>Silver</B><B> Trust*</B></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 62%" vAlign=top width="50%">
<P id=PARA153.4 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 6%" vAlign=top width="3%">
<P id=PARA153.5 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 6%" vAlign=top width="35%">
<P id=PARA153.6 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 26%" vAlign=top width="35%">&nbsp;</TD></TR>
<TR>
<TD style="WIDTH: 62%" vAlign=top width="50%">
<P id=PARA153.8 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 6%" vAlign=top width="3%">
<P id=PARA153.9 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">By:</FONT></P></TD>
<TD style="WIDTH: 6%" vAlign=bottom colSpan=2 noWrap align=left>
<P id=PARA153.10 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"><FONT style="FONT-SIZE: 10pt">iShares<FONT style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top">&#174;</FONT> Delaware Trust Sponsor LLC</FONT></FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 62%" vAlign=top width="50%"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></TD>
<TD style="WIDTH: 6%" vAlign=top width="3%"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></TD>
<TD style="WIDTH: 6%" vAlign=bottom width="35%" noWrap align=left><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></TD>
<TD style="WIDTH: 26%" vAlign=bottom width="35%" noWrap align=left><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></TD></TR>
<TR>
<TD style="WIDTH: 62%; TEXT-ALIGN: left" vAlign=top width="50%" align=left>
<P id=PARA153.12 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 6%; TEXT-ALIGN: left" vAlign=top width="3%">
<P id=PARA153.13 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">By: </FONT></P></TD>
<TD style="WIDTH: 6%; BORDER-BOTTOM: #000000 1px solid; PADDING-LEFT: 18pt" noWrap>
<P id=PARA153.14 style="MARGIN-BOTTOM: 0px; TEXT-ALIGN: center; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></P></TD>
<TD style="MARGIN-BOTTOM: 0px; WIDTH: 26%; BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px" noWrap><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">/s/&nbsp;Jack Gee</FONT></TD></TR>
<TR>
<TD style="WIDTH: 62%">
<P id=PARA153.16 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 6%">
<P id=PARA153.17 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">Name:&nbsp;</FONT></P></TD>
<TD style="WIDTH: 6%">
<P id=PARA153.18 style="MARGIN-BOTTOM: 0px; TEXT-ALIGN: center; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 26%"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">Jack Gee</FONT></TD></TR>
<TR>
<TD style="WIDTH: 62%">
<P id=PARA153.20 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 6%">
<P id=PARA153.21 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">Title:&nbsp;</FONT></P></TD>
<TD style="WIDTH: 6%">
<P id=PARA153.22 style="MARGIN-BOTTOM: 0px; TEXT-ALIGN: center; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 26%"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">Managing Director</FONT></TD></TR>
<TR>
<TD style="WIDTH: 62%"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></TD>
<TD style="WIDTH: 6%"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></TD>
<TD style="WIDTH: 6%"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></TD>
<TD style="WIDTH: 26%"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></TD></TR>
<TR>
<TD style="WIDTH: 62%"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></TD>
<TD style="WIDTH: 6%"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">By:</FONT></TD>
<TD style="WIDTH: 6%; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; PADDING-LEFT: 18pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></TD>
<TD style="MARGIN-BOTTOM: 0px; WIDTH: 26%; BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">/s/ Raymund Santiago</FONT></TD></TR>
<TR>
<TD style="WIDTH: 62%"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></TD>
<TD style="WIDTH: 6%"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">Name:&nbsp;</FONT></TD>
<TD style="WIDTH: 6%; TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></TD>
<TD style="WIDTH: 26%; TEXT-ALIGN: left"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">Raymund Santiago</FONT></TD></TR>
<TR>
<TD style="WIDTH: 62%"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></TD>
<TD style="WIDTH: 6%"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">Title:&nbsp;</FONT></TD>
<TD style="WIDTH: 6%; TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">&nbsp;</FONT></TD>
<TD style="WIDTH: 26%; TEXT-ALIGN: left"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">Director</FONT></TD></TR></TABLE>
<P id=PARA91 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"></FONT>&nbsp;</P>
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<TR>
<TD style="WIDTH: 27pt; VERTICAL-ALIGN: top">
<P id=PARA2><FONT style="FONT-SIZE: 60%; VERTICAL-ALIGN: text-top"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif">*</FONT></FONT></P></TD>
<TD style="VERTICAL-ALIGN: top"><FONT style="FONT-SIZE: 8pt; FONT-FAMILY: Arial, Helvetica, sans-serif">
<P id=PARA3>The registrant is a trust and the persons are signing in their respective capacities as officers of iShares Delaware Trust Sponsor LLC, the Sponsor of the Registrant. </P></FONT></TD></TR></TABLE>
<P id=PARA108 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, sans-serif"></FONT>&nbsp;</P></BODY></HTML>
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slv20161215_8k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
December 22,
2016
iShares
®
Silver
Trust
(Exact name of registrant as specified in its charter)
New York
(State or other jurisdiction
of
incorporation)
001-32
863
(Commission
File Number)
13-7474456
(I.R.S. Employer
Identification No.)
c/o iShares
®
Delaware Trust Sponsor LLC
400 Howard Street
San Francisco, California 94105
Attn: Product Management Team
iShares
®
Product Research & Development
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (415) 670-2000
Not Applicable
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. Entry into a Material Definitive Agreement
iShares Silver Trust (the "Registrant") issues and redeems units of beneficial interest (or "Shares") representing fractional undivided beneficial interests in its net assets only in exchange for silver, only in aggregations of 50,000 Shares or integral multiples thereof (each, a "Basket"), and only in transactions with registered broker-dealers that have previously entered into an agreement with the Registrant governing the terms and conditions of such issuance (such broker-dealers, the "Authorized Participants"). The Trust is administered by The Bank of New York Mellon (the "Trustee") and JPMorgan Chase Bank N.A., London branch (the "Custodian") is responsible for the safekeeping of silver owned by the Registrant.
The Registrant entered into the following amendments and restatements of its operating agreements to make certain operational updates to the agreements, including most significantly to allow Authorized Participants to order, or surrender for redemption, Baskets using the electronic order system of the Trustee:
●
Second Amended and Restated Depositary Trust Agreement, dated as of December 22, 2016, by and between  iShares Delaware Trust Sponsor LLC and The Bank of New York Mellon (the "Trust Agreement");
●
Standard Terms for Authorized Participant Agreements, dated as of December 22, 2016, by and between iShares Delaware Trust Sponsor LLC and The Bank of New York Mellon (the "Standard Terms for Authorized Participant Agreements"); and
●
First Amended and Restated Custodian Agreement, dated as of December 22, 2016, by and between The Bank of New York Mellon and JPMorgan Chase Bank N.A., London branch (the "Custodian Agreement", together with the Trust Agreement and the Standard Terms for Authorized Participant Agreements, the "Agreements").
The Registrant's affiliates have engaged in, and may in the future engage in, various commercial dealings in the ordinary course of business with the parties to the Agreements. Such parties have received, or may in the future receive, customary fees and commissions for these transactions.
The foregoing description of the amendments to the Agreements does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreements, which have been filed with this Current Report on Form 8-K as Exhibit 4.1, Exhibit 4.2 and Exhibit 10.1.
Item 3.03. Material Modification to the Rights of Security Holders
The information set forth in Item 1.01 relating to the Trust Agreement is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
Exhibit 4.1
Second Amended and Restated Depositary Trust Agreement, dated as of December 22, 2016, by and between  iShares Delaware Trust Sponsor LLC and The Bank of New York Mellon.
Exhibit 4.2
Standard Terms for Authorized Participant Agreements, dated as of December 22, 2016, by and between iShares Delaware Trust Sponsor LLC and The Bank of New York Mellon.
Exhibit 10.1
First Amended and Restated Custodian Agreement, dated as of December 22, 2016, by and between The Bank of New York Mellon and JPMorgan Chase Bank N.A., London branch.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: December 22, 2016
iShares
®
Silver
Trust*
By:
iShares
®
Delaware Trust Sponsor LLC
By:
/s/ Jack Gee
Name:
Jack Gee
Title:
Managing Director
By:
/s/ Raymund Santiago
Name:
Raymund Santiago
Title:
Director
*
The registrant is a trust and the persons are signing in their respective capacities as officers of iShares Delaware Trust Sponsor LLC, the Sponsor of the Registrant.