Ally Financial (NYSE: ALLY) eliminates Series B preferred stock from charter
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Ally Financial Inc. amended its charter to remove all references to its 4.700% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B. On May 19, 2026, the company filed a Certificate of Elimination in Delaware, following the redemption of all outstanding Series B Preferred Stock on May 15, 2026.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 5.03, 9.01
2 items
Item 5.03
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Governance
The company amended its charter documents, bylaws, or changed its fiscal year.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Date of earliest event reported: May 19, 2026
Series B redemption date: May 15, 2026
Security affected: 4.700% Series B Preferred Stock
+1 more
4 metrics
Date of earliest event reported
May 19, 2026
Date of report and earliest event in the 8-K
Series B redemption date
May 15, 2026
All outstanding Series B Preferred Stock shares were redeemed
Security affected
4.700% Series B Preferred Stock
Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock eliminated from charter
Common stock listing
ALLY on NYSE
Common Stock, par value $0.01 per share, exchange listing
Key Terms
Certificate of Elimination, Certificate of Designations, Non-Cumulative Perpetual Preferred Stock, Emerging growth company, +1 more
5 terms
Certificate of Elimination regulatory
"filed a Certificate of Elimination to its Amended and Restated Certificate of Incorporation"
Certificate of Designations regulatory
"eliminated from the Amended and Restated Certificate of Incorporation all matters set forth in the Certificate of Designations"
A certificate of designations is a formal legal document that spells out the specific rights and rules attached to a particular class of stock, most often preferred shares. It tells investors who gets paid first, what dividends or conversion rights exist, and any voting or liquidation priorities—like an instruction sheet that decides which shareholders get preference if a company pays out or is sold. Those terms directly affect a security’s value and risk.
Non-Cumulative Perpetual Preferred Stock financial
"4.700% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B"
Non-cumulative perpetual preferred stock is a type of investment that pays a fixed dividend forever, without a set end date. If the company skips some dividends in a year, you don’t get that money later, and it’s gone forever. It matters because investors get regular income but may miss out if the company faces financial trouble.
Emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
Amended and Restated Certificate of Incorporation regulatory
"filed a Certificate of Elimination to its Amended and Restated Certificate of Incorporation"
A company’s amended and restated certificate of incorporation is an updated version of its foundational legal charter that replaces the older document and folds in all changes into one clear copy; it spells out corporate structure, classes of stock, shareholder rights and key governance rules. Investors care because it can change who controls the company, how votes are counted, what claims shareholders have on assets or dividends, and can introduce or remove protections against takeovers—like updating a house title after a major renovation to show who owns what and under what rules.
FAQ
What change did Ally Financial Inc. (ALLY) report regarding its charter?
Ally Financial filed a Certificate of Elimination amending its charter to remove all provisions related to its 4.700% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, after all outstanding shares of that series had been redeemed.
When did Ally Financial file the Certificate of Elimination for Series B Preferred Stock?
Ally Financial filed the Certificate of Elimination on May 19, 2026. The filing was made with the Secretary of State of Delaware and became effective upon filing, formally eliminating the Series B Preferred Stock provisions from the company’s charter.
What type of security was Ally Financial’s Series B Preferred Stock?
The Series B Preferred Stock was 4.700% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock. The company’s Certificate of Elimination removed all matters set forth in the original Certificate of Designations relating to this specific preferred stock series.
Where is Ally Financial Inc. incorporated and headquartered?
Ally Financial Inc. is incorporated in Delaware and lists its principal executive offices at Ally Detroit Center, 500 Woodward Avenue, Floor 10, Detroit, Michigan 48226, reflecting its legal jurisdiction and main corporate address in the United States.
On which exchange is Ally Financial’s common stock traded and under what symbol?
Ally Financial’s common stock, par value $0.01 per share, is listed on the New York Stock Exchange under the trading symbol ALLY, indicating where its primary equity security is publicly traded.