Summary
Wells Fargo & Company/MN (WFC) filed an 8-K on September 16, 2021, reporting administrative changes to its corporate charter concerning preferred stock. Specifically, the company filed certificates with the Delaware Secretary of State to eliminate the "Certificates of Designations" for two series of its preferred stock: Non-Cumulative Perpetual Class A Preferred Stock, Series O, and Non-Cumulative Perpetual Class A Preferred Stock, Series X. These actions effectively remove the specific terms and provisions associated with these preferred stock series from the company's Restated Certificate of Incorporation. These filings are primarily housekeeping items related to the company's capital structure and do not appear to represent a change in the company's ongoing business operations, financial performance, or strategic direction. Investors should note that these are technical amendments to corporate governance documents.
Key Highlights
- 1Wells Fargo filed an 8-K on September 16, 2021, related to amendments to its articles of incorporation.
- 2The company eliminated the Certificate of Designations for Non-Cumulative Perpetual Class A Preferred Stock, Series O.
- 3The company also eliminated the Certificate of Designations for Non-Cumulative Perpetual Class A Preferred Stock, Series X.
- 4These actions remove specific provisions related to these preferred stock series from the company's Restated Certificate of Incorporation.
- 5The filings are effective upon their filing with the Delaware Secretary of State.
- 6The exhibits filed include the Certificates of Elimination for Series O and Series X preferred stock.