Summary
This Form 8-K filing by U.S. Bancorp (USB) on July 24, 2009, primarily concerns a corporate housekeeping matter related to its capital structure. The company has officially eliminated its Series E Fixed Rate Cumulative Perpetual Preferred Stock from its Restated Certificate of Incorporation by filing a Certificate of Elimination with the Secretary of State of Delaware, effective July 21, 2009. Importantly, this action was taken when no shares of the Series E Preferred Stock were issued or outstanding. Therefore, this filing does not represent a significant change in the company's financial position, dividend policy, or outstanding equity. It is primarily a procedural step to clean up the corporate charter, removing provisions for a class of preferred stock that is no longer in existence or planned for issuance.
Key Highlights
- 1U.S. Bancorp filed a Certificate of Elimination for its Series E Fixed Rate Cumulative Perpetual Preferred Stock.
- 2The elimination was effective upon filing with the Secretary of State of Delaware on July 21, 2009.
- 3No shares of the Series E Preferred Stock were issued or outstanding at the time of the filing.
- 4This action amends the company's Restated Certificate of Incorporation.
- 5The filing is considered a routine corporate action and not indicative of immediate financial changes.
- 6The Certificate of Elimination is filed as Exhibit 3.1 to the 8-K report.