8-KCorporate ChangesExhibits & Filings

GOLDMAN SACHS GROUP INC 8-K Report, Bylaw Amendment (May 20, 2024)

Filed May 20, 2024For Securities:GSGS-PAGS-PCGS-PDGSCE

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.

Frequently Asked Questions

The primary purpose of this 8-K filing is to formally announce the elimination of Goldman Sachs' Series K Preferred Stock and the concurrent amendment of its Restated Certificate of Incorporation to reflect this change and introduce its Series X Preferred Stock.

All outstanding shares of the 6.375% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K, were redeemed on May 17, 2024, and the stock has been eliminated from the company's Restated Certificate of Incorporation.

Based on the provided filing, this 8-K relates to corporate housekeeping concerning the company's capital structure. It details the elimination of one series of preferred stock and the establishment of another, along with associated filings. It does not contain information typically indicative of financial distress or changes in operational performance.

The filing mentions the incorporation of terms for the 7.50% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series X, in the amended Restated Certificate of Incorporation. Further details on the specific terms of Series X would likely be found in its Certificate of Designations, which is referenced but not fully detailed in this 8-K.