Observed Signal · Aug 11, 2026 · corporate_event · Source: SEC API · Impact: 3/5
8-K Financial Filing Analysis for Goldman Sachs (2026-08-11)
The Goldman Sachs Group, Inc. executed a capital structure adjustment by filing a Certificate of Elimination with the Delaware Secretary of State on August 11, 2026, formally removing its 3.65% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series U. This follows the full redemption of all outstanding Series U preferred shares on August 10, 2026. Concurrently, Goldman Sachs filed a Restated Certificate of Incorporation to reflect the retirement of Series U and the establishment of its new 6.500% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series AA. The transaction formalizes the rollover of preferred equity instruments within the firm's Tier 1 regulatory capital base.
The filing documents the formal retirement of legacy Series U preferred stock and the integration of newly issued Series AA preferred stock into Goldman Sachs' corporate charter, maintaining Tier 1 regulatory capital compliance.
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Key Takeaways & Evidence Grounding
- Redeemed all outstanding shares of 3.65% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series U, on August 10, 2026, and eliminated the series via Delaware state filing on August 11, 2026.
- Filed a Restated Certificate of Incorporation on August 11, 2026, formalizing the terms and Certificate of Designations for the new 6.500% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series AA.
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8-K Financial Filing Analysis for First Citizens Bank (2026-09-14)
First Citizens BancShares, Inc. closed a public offering of 300,000 depositary shares, each representing a 1/100th interest in a share of its newly established 7.500% Non-Cumulative Perpetual Preferred Stock, Series F, on September 14, 2026. The preferred shares carry a liquidation preference of $100,000 per share ($1,000 per depositary share) and rank senior to common stock and on parity with Series A through E preferred stock. Underwritten by Morgan Stanley, BofA Securities, J.P. Morgan, and Wells Fargo Securities, dividends accrue at a fixed annual rate of 7.500% through September 15, 2031, transitioning thereafter to a floating rate equal to the five-year Treasury rate plus 2.894%. The transaction strengthens First Citizens' regulatory capital base and liquidity position.
8-K Financial Filing Analysis for Bank of America (2026-10-23)
On October 23, 2026, Bank of America Corporation issued 80,000 shares of newly designated 7.200% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series WW, with a liquidation preference of $25,000 per share. In conjunction with this issuance, the bank completed the public offering of 2,000,000 Depositary Shares, each representing a 1/25th fractional interest in a share of Series WW Preferred Stock (equivalent to a $1,000 liquidation preference per depositary share), totaling $2.0 billion in aggregate liquidation value. The terms include customary dividend stopper restrictions that constrain dividend declarations, distributions, and repurchases across common stock and parity/junior preferred securities if full scheduled dividends on Series WW are not paid.
8-K Financial Filing Analysis for Goldman Sachs (2026-10-13)
On October 13, 2026, The Goldman Sachs Group, Inc. filed a Current Report on Form 8-K reporting its financial results for the third quarter ended September 30, 2026 under Item 2.02. The earnings press release was furnished as Exhibit 99.1 and formally deemed filed under Section 18 of the Securities Exchange Act of 1934. Additionally, under Item 7.01, the firm furnished an investor presentation (Exhibit 99.2) in conjunction with its scheduled 9:30 a.m. ET earnings conference call to review financial performance, strategy, and business outlook.
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