Citizens Financial Group Amends Charter for Preferred Stock
Ticker: CFG-PI · Form: 8-K · Filed: Jul 9, 2024 · CIK: 759944
| Field | Detail |
|---|---|
| Company | Citizens Financial Group Inc/Ri (CFG-PI) |
| Form Type | 8-K |
| Filed Date | Jul 9, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: charter-amendment, preferred-stock, regulatory
Related Tickers: CFG
TL;DR
CFG filed 8-K on July 8, 2024, amending charter for Series D, E, H preferred stock. No major financial impact.
AI Summary
Citizens Financial Group, Inc. (CFG) filed an 8-K on July 8, 2024, reporting amendments to its charter regarding preferred stock. Specifically, the filing details changes related to its Series D, Series E, and Series H Preferred Stock, effective July 8, 2024. These amendments are administrative in nature and do not appear to involve new financial transactions or significant operational changes.
Why It Matters
This filing clarifies the terms and conditions of Citizens Financial Group's preferred stock series, which is important for investors holding or considering these securities.
Risk Assessment
Risk Level: low — The filing concerns administrative amendments to the company's charter related to preferred stock, with no indication of new financial risks or significant operational changes.
Key Players & Entities
- Citizens Financial Group, Inc. (company) — Registrant
- July 8, 2024 (date) — Date of earliest event reported
- Series D Preferred Stock (security) — Amended charter item
- Series E Preferred Stock (security) — Amended charter item
- Series H Preferred Stock (security) — Amended charter item
- Delaware (jurisdiction) — State of Incorporation
- Providence, RI (location) — Principal executive offices
FAQ
What specific amendments were made to the charter regarding preferred stock?
The filing indicates amendments related to the Series D, Series E, and Series H Preferred Stock, effective July 8, 2024. Specific details of the amendments are typically found within the attached exhibits.
What is the effective date of these charter amendments?
The amendments to the charter regarding preferred stock are effective as of July 8, 2024.
Does this 8-K filing involve any new financial transactions or debt issuance?
Based on the provided information, this 8-K filing pertains to amendments to the company's charter concerning preferred stock and does not indicate new financial transactions or debt issuance.
What is the principal business of Citizens Financial Group, Inc.?
Citizens Financial Group, Inc. is classified under Standard Industrial Classification (SIC) code 6022, which corresponds to State Commercial Banks.
Where are Citizens Financial Group, Inc.'s principal executive offices located?
The principal executive offices of Citizens Financial Group, Inc. are located at One Citizens Plaza, Providence, RI 02903.
Filing Stats: 687 words · 3 min read · ~2 pages · Grade level 12.4 · Accepted 2024-07-09 16:30:50
Key Financial Figures
- $0.01 — ange on which registered Common stock, $0.01 par value per share CFG New York Stock
Filing Documents
- cfg-20240708.htm (8-K) — 34KB
- cfgseriesdpreferredredempt.htm (EX-3.1) — 11KB
- cleancfgcoi.htm (EX-3.2) — 648KB
- cfg-20240708_g1.jpg (GRAPHIC) — 9KB
- 0000759944-24-000134.txt ( ) — 1021KB
- cfg-20240708.xsd (EX-101.SCH) — 3KB
- cfg-20240708_def.xml (EX-101.DEF) — 18KB
- cfg-20240708_lab.xml (EX-101.LAB) — 32KB
- cfg-20240708_pre.xml (EX-101.PRE) — 19KB
- cfg-20240708_htm.xml (XML) — 6KB
03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. On July 8, 2024, Citizens Financial Group, Inc. (the "Company") filed a Certificate of Elimination to its Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware, which, effective upon filing, eliminated from the Amended and Restated Certificate of Incorporation all matters set forth in the Certificate of Designations with respect to its 6.350% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series D (the "Series D Preferred Stock"). All outstanding shares of the Series D Preferred Stock were redeemed on July 8, 2024. A copy of the Certificate of Elimination relating to the Series D Preferred Stock is filed as Exhibit 3.1 to this Current Report on Form 8-K and is incorporated herein by reference. A Restated Certificate of Incorporation reflecting (i) the elimination of the Series D Preferred Stock; and (ii) the integration of the Company's previously filed Certificate of Designations for the 7.375% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series H, was filed with the Secretary of State of the State of Delaware on July 8, 2024, and is listed as Exhibit 3.2 to this Current Report on Form 8-K and is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 3.1 Certificate of Elimination relating to the Series D Preferred Stock, dated July 8, 2024 3.2 Restated Certificate of Incorporation of Citizens Financial Group, Inc, as restated on July 8, 2024 104 Cover Page Interactive Data file - the cover page XBRL tags are embedded within the Inline XBRL document
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CITIZENS FINANCIAL GROUP, INC. By: /s/ Robin S. Elkowitz Robin S. Elkowitz Executive Vice President, Deputy General Counsel and Secretary Date: July 9, 2024