Summary
Goldman Sachs Group, Inc. (GS) filed an 8-K on May 19, 2024, detailing the elimination of its 6.375% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K. This action, effective May 17, 2024, involved filing a Certificate of Elimination with the Delaware Secretary of State and the redemption of all outstanding Series K Preferred Stock shares on the same date. Concurrently, the company filed an amended Restated Certificate of Incorporation to reflect both the elimination of the Series K Preferred Stock and the terms of its newly established 7.50% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series X. These corporate actions are administrative in nature concerning the company's capital structure and do not appear to relate to operational performance or recent financial results.
Key Highlights
- 1Elimination of 6.375% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K.
- 2Redemption of all outstanding shares of Series K Preferred Stock on May 17, 2024.
- 3Filing of a Certificate of Elimination with the Delaware Secretary of State.
- 4Amended Restated Certificate of Incorporation filed to reflect changes.
- 5Incorporation of terms for 7.50% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series X.
- 6Exhibits include the Certificate of Elimination and the amended Restated Certificate of Incorporation.