8-KCorporate ChangesExhibits & Filings

METLIFE INC 8-K Report, Bylaw Amendment (Jun 29, 2021)

Filed June 29, 2021For Securities:METMET-PEMET-PFMET-PA

Summary

MetLife Inc. (MET) filed an 8-K on June 29, 2021, to announce the formal elimination of its 5.250% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C. This action follows the complete redemption, repurchase, or reacquisition of all outstanding shares of this series of preferred stock. The elimination is effective as of the filing date with the Secretary of State of the State of Delaware. This administrative step effectively removes the Series C Preferred Stock from MetLife's authorized capital structure, returning the associated shares to the status of authorized but unissued preferred stock without specific series designation. This move is primarily a housekeeping matter to reflect the completed retirement of this preferred stock series.

Key Highlights

  • 1MetLife Inc. (MET) has officially eliminated its 5.250% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C.
  • 2This action was taken via a Certificate of Elimination filed with the Secretary of State of Delaware on June 29, 2021.
  • 3The elimination is effective immediately upon filing.
  • 4All outstanding shares of the Series C Preferred Stock had previously been redeemed, repurchased, or otherwise reacquired by the Company.
  • 5The elimination removes the specific designations for Series C Preferred Stock from MetLife's charter.
  • 6Associated shares are now classified as authorized but unissued preferred stock, without a specific series.
  • 7This filing represents an administrative action reflecting a completed transaction rather than a new strategic initiative.

Frequently Asked Questions

The primary purpose of this 8-K filing is to formally eliminate MetLife's Series C Preferred Stock from its charter, now that all shares of that series have been retired.

No, this filing does not involve the issuance of new preferred stock or the incurrence of new debt. It is purely an administrative action to remove a previously retired series of preferred stock from the company's authorized share structure.

There is no immediate direct financial impact to MetLife as a result of this filing. The Series C Preferred Stock had already been fully redeemed or repurchased, meaning the company was no longer paying dividends on it or obligated for its repayment. This filing is a legal formality.

This filing does not change MetLife's existing capital structure in a material way. It simply cleans up the authorized share structure by removing a class of preferred stock that is no longer outstanding.