What is the main purpose of this 8-K filing?

The primary purpose of this 8-K filing is to formally report the elimination and retirement of 10 shares of Chesapeake Energy Corporation's 5.00% Cumulative Convertible Preferred Stock (Series 2003). This action was taken after these shares were converted into common stock by a shareholder.

What is the significance of the "elimination" of preferred stock?

Elimination, in this context, means that the 10 shares of preferred stock are being retired and are no longer outstanding. This is a standard corporate action that occurs when preferred stock is converted into common stock or repurchased, effectively removing them from the company's capital structure.

Does this event impact the company's financial performance or common stock value?

This specific event involves a small number of preferred shares (10 shares) and is a consequence of a prior conversion. It is generally considered a routine administrative action and is unlikely to have a material impact on Chesapeake Energy's overall financial performance or the market value of its common stock. It signifies the completion of a conversion process.

Who is responsible for initiating the conversion that led to this elimination?

The filing states that the shares were converted by 'a holder' of the 5.00% Cumulative Convertible Preferred Stock (Series 2003). This indicates that a shareholder chose to convert their preferred stock into common stock.

EXPAND ENERGY Corp 8-K: Corporate Changes

Summary

Chesapeake Energy Corporation (CHK) filed an 8-K report on November 13, 2006, to disclose the elimination of 10 shares of its 5.00% Cumulative Convertible Preferred Stock (Series 2003). This action, effective November 8, 2006, followed the conversion of these preferred shares into the company's common stock by a holder. The filing indicates that these shares were retired and no longer outstanding. This is a routine corporate action related to the conversion of preferred stock and does not represent a significant change in the company's operational or financial structure. Investors should note that this event relates to a small number of preferred shares being extinguished after conversion.

Key Highlights

1Chesapeake Energy Corporation (CHK) filed a Certificate of Elimination on November 13, 2006.
2The filing officially retires 10 shares of 5.00% Cumulative Convertible Preferred Stock (Series 2003).
3These preferred shares were acquired by the company as a result of a conversion event.
4The preferred shares were converted into Chesapeake Energy Corporation's common stock by a holder.
5The elimination of these shares occurred on November 8, 2006.
6This filing is considered an amendment to the company's articles of incorporation (Item 5.03).
7The Certificate of Elimination is attached as Exhibit 3.1 to the filing.

EXPAND ENERGY Corp 8-K Report, Bylaw Amendment (Nov 13, 2006)

Summary

Key Highlights

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