E*TRADE Financial Corp. (ETFC) filed a Form 8K – Modification to Shareholders Rights – with the U.S Securities and Exchange Commission on December 06, 2017.
Upon issuance of the Series B Preferred Stock (as defined in Item 5.03 below) on December 6, 2017, the ability of E*TRADE Financial Corporation (the “Company”) to declare or pay dividends or distributions on, or purchase, redeem or otherwise acquire for consideration, shares of its junior stock became subject to certain restrictions in the event that the Company fails to declare and pay full dividends (or declare and set aside a sum sufficient for the payment thereof) on its Series B Preferred Stock. “Junior stock” means any class or series of capital stock of the Company that ranks junior to the Series B Preferred Stock as to the payment of dividends or the distribution of assets upon liquidation, dissolution or winding up of the Company. Junior stock includes the Company’s common stock. These restrictions are set forth in the Certificate of Designations establishing the terms of the Series B Preferred Stock, a copy of which is filed as Exhibits 3.1 and 4.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The full text of this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/1015780/000119312517362881/d505626d8k.htm
Any exhibits and associated documents for this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/1015780/000119312517362881/0001193125-17-362881-index.htm
Public companies must file a Form 8-K, or current report, with the SEC generally within four days of any event that could materially affect a company’s financial position or the value of its shares.
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