Tyson Foods 8-K Details Class A NYSE Listing, Class B Convertibility
Ticker: TSN · Form: 8-K · Filed: Feb 12, 2024 · CIK: 100493
| Field | Detail |
|---|---|
| Company | Tyson Foods, Inc. (TSN) |
| Form Type | 8-K |
| Filed Date | Feb 12, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: corporate-governance, share-structure, equity
TL;DR
**Tyson Foods confirmed Class A stock trades on NYSE, Class B is convertible but not listed.**
AI Summary
Tyson Foods, Inc. filed an 8-K on February 12, 2024, reporting on matters submitted to a vote of security holders as of February 8, 2024. This filing primarily serves to update the public on the company's registered securities, specifically noting that its Class A Common Stock (TSN) is traded on the New York Stock Exchange with a par value of $0.10, while its Class B stock is not publicly listed but is convertible into Class A stock on a share-for-share basis. This matters to investors as it clarifies the tradability and convertibility of different share classes, which can impact liquidity and valuation for those holding or considering buying Tyson Foods stock.
Why It Matters
This filing clarifies the trading status of Tyson Foods' Class A and Class B stock, which is crucial for investors to understand their liquidity and potential conversion rights.
Risk Assessment
Risk Level: low — This filing is purely informational regarding existing share structures and does not introduce new financial risks or operational changes.
Analyst Insight
A smart investor would note the distinction between Class A and Class B shares, understanding that only Class A is publicly traded, and Class B offers convertibility, which could be relevant for large shareholders or those with specific investment strategies.
Key Numbers
- $0.10 — Par Value (Par value of Tyson Foods' Class A Common Stock)
Key Players & Entities
- TYSON FOODS, INC. (company) — the registrant filing the 8-K
- New York Stock Exchange (company) — where Tyson Foods' Class A Common Stock is registered
- $0.10 (dollar_amount) — par value of Class A Common Stock
- TSN (company) — trading symbol for Class A Common Stock
FAQ
What is the purpose of this 8-K filing by Tyson Foods, Inc.?
The purpose of this 8-K filing, dated February 12, 2024, is to submit matters to a vote of security holders and to provide information regarding the company's registered securities, specifically detailing the trading status of its Class A and Class B stock.
Where is Tyson Foods' Class A Common Stock traded and what is its trading symbol?
Tyson Foods' Class A Common Stock is traded on the New York Stock Exchange under the trading symbol TSN, as stated in the filing.
What is the par value of Tyson Foods' Class A Common Stock?
The par value of Tyson Foods' Class A Common Stock is $0.10, according to the filing.
Is Tyson Foods' Class B stock publicly traded?
No, the filing explicitly states that Class B stock is not publicly listed for trade on any exchange or market system.
Can Tyson Foods' Class B stock be converted into Class A stock?
Yes, the filing indicates that Class B stock is convertible into Class A stock on a share-for-share basis.
Filing Stats: 935 words · 4 min read · ~3 pages · Grade level 11.3 · Accepted 2024-02-12 16:08:48
Filing Documents
- tsn-20240208.htm (8-K) — 68KB
- 0000100493-24-000021.txt ( ) — 197KB
- tsn-20240208.xsd (EX-101.SCH) — 2KB
- tsn-20240208_lab.xml (EX-101.LAB) — 24KB
- tsn-20240208_pre.xml (EX-101.PRE) — 13KB
- tsn-20240208_htm.xml (XML) — 3KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. At the 2024 Annual Meeting, six proposals were voted upon by the Company's shareholders. The proposals are described in detail in the 2024 Proxy Statement. At the 2024 Annual Meeting, the Company's shareholders: 1) elected John H. Tyson, Les R. Baledge, Mike Beebe, Maria Claudia Borras, David J. Bronczek, Mikel A. Durham, Donnie King, Jonathan D. Mariner, Kevin M. McNamara, Cheryl S. Miller, Kate B. Quinn, Jeffrey K. Schomburger, Barbara A. Tyson and Noel White to serve as directors until the Company's next annual meeting of shareholders and until their successors are duly elected and qualified; 2) ratified the appointment of PricewaterhouseCoopers LLP as the Company's independent auditor for the fiscal year ending September 28, 2024; 3) did not approve a shareholder proposal requesting that the Company conduct an evaluation and issue a report on how its lobbying aligns with the Company's science-based targets and long term net zero ambitions; 4) did not approve a shareholder proposal requesting that the Company commission an independent third-party audit assessing the effectiveness of the Company's policies and practices in preventing illegal child labor; 5) did not approve a shareholder proposal requesting that the Company accelerate its efforts to eliminate deforestation from its supply chains; 6) did not approve a shareholder proposal requesting that the Company issue a report describing opportunities to support a circular economy for packaging; Set forth below are the voting results for each matter submitted to a vote (certain numbers in tables may not total due to rounding): 1. Election of directors: Directors Votes For Votes Against Votes Abstained Broker Non-Votes John H Tyson 842,417,963 69,736,841 257,095 28,595,761 Les R. Baledge 821,037,961 91,080,647 293,291 28,595,761 Mike Beebe 846,178,182 65,972,185 261,532 28,595,761 Maria Claudia Borras 875,085,768 36,357,970 968,161 28,5