Commercial Metals Co SEC Filings

Commercial Metals Company (CMC) – Form 4 Insider Transaction

Director John R. McPherson elected to receive equity compensation instead of his quarterly cash retainer, resulting in the issuance of 690 common shares on 1 July 2025 at an implied price of $50.71 per share. After this non-open-market acquisition, McPherson’s direct holdings rise to 15,878 shares, while he continues to hold 5,000 shares indirectly through a limited partnership.

No shares were sold and no derivative securities were involved. The filing reflects a routine board-compensation election and does not materially affect CMC’s share count or insider ownership profile.

Commercial Metals Company (CMC) – Form 4 insider filing

Director Robert S. Wetherbee reported the acquisition of 739 shares of CMC common stock on 01-Jul-2025. The shares were issued in lieu of the regular quarterly cash retainer for board and committee service, a routine form of non-cash director compensation. The implied transaction price was $50.71 per share, bringing the director’s direct ownership to 10,421 shares. No derivative securities were involved and no dispositions were reported.

The filing is a standard Section 16 disclosure, provides transparency on equity-based compensation, and does not indicate any material strategic change or market-moving information for shareholders.

Bank of Montreal (BMO) is offering US$1.83 million of Senior Medium-Term Notes, Series K – Autocallable Barrier Notes with Contingent Coupons – linked to the iShares® Russell 2000 ETF (ticker “IWM”). The notes price on 30 June 2025, settle on 03 July 2025 and, if not redeemed earlier, mature on 03 July 2028. They are unsecured, unsubordinated obligations of BMO and are not listed on an exchange.

Coupon mechanics

• Contingent Coupon: 1.8125% per quarter (≈7.25% p.a.) paid only if IWM’s closing level on the relevant Observation Date is ≥ Coupon Barrier (80% of the Initial Level = $172.63).
• Observation Dates: Three trading days before each scheduled quarterly payment (Oct, Jan, Apr, Jul), starting 30 Sep 2025.

Autocall feature

• From 30 Sep 2025 onward, if IWM closes > 100% of its Initial Level ($215.79) on any Observation Date, the notes are automatically redeemed at par plus the applicable coupon on the following payment date.

Principal repayment at maturity

• No principal protection. If not autocalled, investors receive:
  • Par ($1,000) if a Trigger Event does not occur (Final Level ≥ Trigger Level, 80% of Initial).
  • Par minus 1% for every 1% decline in IWM below its Initial Level if a Trigger Event does occur (Final Level < Trigger Level). Losses can reach 100%.

Key issue terms

• Issue size: US$1,830,000 (minimum denominations $1,000).
• Coupon/Trigger/Barrier Levels: all set at 80% of Initial Level ($172.63).
• Initial estimated value: $968.18 per $1,000 note, versus a public offer price of 100% (includes 2.00% selling concession).
• Credit risk: payments depend solely on BMO’s ability to pay; the notes are not FDIC or CDIC insured.
• No secondary-market obligation; liquidity reliant on BMO Capital Markets (BMOCM) making a market.

Risk highlights

• Investors may receive no coupons if IWM stays below the 80% barrier on every Observation Date.
• If Final Level is below the Trigger Level, principal loss is linear with the underlying decline and could be total.
• Upside is capped at coupons; investors do not participate in any IWM appreciation beyond par return.
• Initial estimated value is 3.2% below issue price, reflecting dealer compensation and hedging cost.

Investor profile: suitable only for those seeking high contingent income, willing to accept small-cap equity volatility, early call risk, BMO credit exposure, illiquidity, and potential loss of capital.

Commercial Metals Company (CMC) has filed its Q3 2025 quarterly report (10-Q). The filing provides detailed segment reporting across three main business units: North America Steel Group, Europe Steel Group, and Emerging Business Group.

Key financial elements include:

• Extensive derivatives and hedging activities, including commodity contracts for copper, electricity, and natural gas
• Fair value measurements across three levels for various financial instruments
• Significant debt instruments including 4.125% Senior Unsecured Notes due 2032 and 3.875% Notes due 2031
• Active risk management through foreign exchange contracts and commodity hedging

The company maintains a complex capital structure with multiple financing arrangements, including revolving credit facilities and standby letters of credit. Notable operational highlights include continued focus on fabricated products and installation services, particularly in the North American market, with revenue recognition both over time and at point of sale.

Commercial Metals (NYSE:CMC) filed a Form 8-K to furnish—not file—its third-quarter fiscal 2025 financial results and related investor materials. The filing, dated June 23, 2025, states that a press release (Exhibit 99.1) and an accompanying slide deck (Exhibit 99.2) were released the same day. These documents provide the detailed operating and financial data for the quarter, but their content is not reproduced in the 8-K itself.

The company invokes Exchange Act Items 2.02 and 7.01, meaning the information is deemed “furnished” and therefore excluded from liability under Section 18 and from incorporation by reference into future securities filings unless specifically included. No other items—such as legal proceedings, financing arrangements, or governance changes—are reported.

Investors seeking quantitative performance metrics (revenue, EPS, margins, cash flow) must review Exhibits 99.1 and 99.2 on the SEC’s EDGAR system or the company’s website. Because the core financial figures are contained solely in those exhibits, the body of the 8-K offers limited insight beyond confirming the timing and availability of results.