8-KCorporate ChangesExhibits & Filings

General Motors Co 8-K Report, Bylaw Amendment (Sep 1, 2017)

Filed September 1, 2017For Securities:GM

Summary

General Motors Company (GM) filed an 8-K on September 1, 2017, reporting the formal elimination of two series of preferred stock from its corporate charter: the Series A Fixed Rate Cumulative Perpetual Preferred Stock and the 4.75% Series B Mandatory Convertible Junior Preferred Stock. This filing is primarily a procedural housekeeping measure, as all outstanding shares of both preferred stock series had already been redeemed or converted by 2014 and 2013, respectively. For investors, this action signifies the complete retirement of these specific preferred stock obligations, simplifying the company's capital structure. It confirms that these classes of stock no longer exist as part of GM's authorized capital, with no ongoing financial implications or outstanding shares to consider. The Certificates of Elimination were officially filed with the Delaware Secretary of State, making the removal effective upon filing.

Key Highlights

  • 1GM formally eliminated Series A Fixed Rate Cumulative Perpetual Preferred Stock from its charter.
  • 2GM formally eliminated 4.75% Series B Mandatory Convertible Junior Preferred Stock from its charter.
  • 3These actions were completed by filing Certificates of Elimination with the Delaware Secretary of State.
  • 4All Series A Preferred Stock was repurchased and redeemed between 2013 and 2014.
  • 5All Series B Preferred Stock automatically converted to common stock in 2013.
  • 6The filing is a procedural step to update the company's corporate charter.
  • 7No financial impact is expected as all shares were already retired/converted.

Frequently Asked Questions

These Certificates of Elimination are a formal, procedural step to remove the Series A and Series B preferred stocks from General Motors' Restated Certificate of Incorporation. It signifies that these classes of stock are no longer authorized or outstanding, cleaning up the company's capital structure documentation.

No, investors do not need to take any action. This filing is a corporate administrative action. All outstanding shares of both Series A and Series B preferred stock have already been redeemed or converted into common stock in prior years.

No, all shares of both the Series A and Series B preferred stocks were already retired. The Series A was repurchased and redeemed between 2013 and 2014, and the Series B automatically converted to common stock in 2013.

This filing is primarily a housekeeping measure and is not expected to have a direct impact on the value of GM's common stock, as it formalizes the elimination of preferred stock series that are no longer outstanding.