Form 8-K · Current report
Bank of America 8-K, filed Oct 23, 2026
- Filed
- CIK
- 0000070858
- Accession no.
- 0001193125-26-430566
Summary
Bank of America issued 80,000 shares of its 7.200% Fixed-Rate Reset Non-Cumulative Series WW Preferred Stock, with a $25,000 liquidation preference, and sold 2,000,000 depositary shares each representing a 1/25th interest in a Series WW share. The company filed a Certificate of Designations with Delaware to set the preferred stock's terms, including restrictions on dividends, distributions, and repurchases of common or parity/junior preferred stock if Series WW dividends are not paid in full.
Key points
- Bank of America issued 80,000 Series WW Preferred shares on October 23, 2026.
- It sold 2,000,000 depositary shares, each representing a 1/25th interest in a Series WW Preferred share.
- The Series WW Preferred Stock carries a 7.200% fixed-rate reset non-cumulative dividend and a $25,000 per-share liquidation preference.
- The Certificate of Designations restricts dividends, distributions, and repurchases of common stock or parity/junior preferred stock when Series WW dividends are unpaid.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 3.03Material Modification to Rights of Security Holders
- 5.03Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
- 8.01Other Events
- 9.01Financial Statements and Exhibits
From the filing
ITEM 3.03. Material Modification to Rights of Security Holders. On October 23, 2026, Bank of America Corporation (the “Corporation”) issued 80,000 shares of Series WW Preferred Stock (as defined in Item 5.03 below). Under the terms of the Series WW Preferred Stock, the ability of the Corporation to declare or pay dividends on, declare or make distributions with respect to, or repurchase, redeem or otherwise acquire for consideration, shares of its common stock or any preferred stock ranking on a parity with or junior to the Series WW Preferred Stock, will be subject to certain restrictions in the event that the Corporation fails to declare and pay full dividends (or declare and set aside a…
An excerpt of the text as filed with the SEC, cut for length.
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