Northern Trust (NTRS) sets Oct. 1, 2026 Series D preferred redemption
Rhea-AI Filing Summary
Northern Trust Corporation announced the full redemption of its Series D Non-Cumulative Perpetual Preferred Stock. On October 1, 2026, the company plans to redeem all 5,000 outstanding Series D preferred shares, each with a $100,000 liquidation preference, together with all 500,000 outstanding depositary shares, each representing a 1/100th interest in a Series D share.
The depositary shares will be redeemed at $1,000.00 per Depositary Share, separate from the regular quarterly dividend of $23.00 per Depositary Share, which was previously declared and is scheduled to be paid on the Redemption Date to holders of record as of 5:00 p.m. Chicago time on September 15, 2026. After the Redemption Date, the Series D preferred will no longer be outstanding and no further dividends will be declared on it. As of June 30, 2026, Northern Trust reported assets under custody/administration of US$20.0 trillion and assets under management of US$2.0 trillion.
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Filing Explained
The August 3 8-K confirms Northern Trust’s planned October 1 redemption of Series D, but its exhibit says the press release is not the formal redemption notice under the governing documents; the filing announces the transaction without itself serving as that notice.
8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Series D preferred shares outstanding: 5,000 shares
Liquidation preference per Series D share: $100,000 per share
Depositary shares outstanding: 500,000 depositary shares
+5 more
8 metrics
Series D preferred shares outstanding
5,000 shares
Outstanding Series D Non-Cumulative Perpetual Preferred Stock to be redeemed on October 1, 2026
Liquidation preference per Series D share
$100,000 per share
Liquidation preference for each Series D Non-Cumulative Perpetual Preferred Stock share
Depositary shares outstanding
500,000 depositary shares
Outstanding depositary shares, each representing a 1/100th interest in a Series D share
Redemption price per Depositary Share
$1,000.00 per Depositary Share
Cash redemption price for each Series D Depositary Share
Quarterly dividend per Depositary Share
$23.00 per Depositary Share
Regular quarterly dividend previously declared, payable on the Redemption Date
Record date for dividend
September 15, 2026, 5:00 p.m. Chicago time
Record date and time for holders entitled to the $23.00 dividend
Assets under custody/administration
US$20.0 trillion
Northern Trust assets under custody/administration as of June 30, 2026
Assets under management
US$2.0 trillion
Northern Trust assets under management as of June 30, 2026
Key Terms
Non-Cumulative Perpetual Preferred Stock, Depositary Shares, liquidation preference, notice of redemption, +2 more
6 terms
Non-Cumulative Perpetual Preferred Stock financial
"Series D Non-Cumulative Perpetual Preferred Stock, $100,000 liquidation preference"
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.
liquidation preference financial
"Series D Non-Cumulative Perpetual Preferred Stock, $100,000 liquidation preference per share"
A liquidation preference is a rule that determines who gets paid first and how much they receive when a company is sold, goes bankrupt, or distributes its assets. It gives certain investors a priority claim—often returning their original investment plus any agreed multiple—before other owners receive money, which shapes how much common shareholders and founders ultimately get; think of it as a front-of-the-line pass that affects payout order and investor returns.
notice of redemption regulatory
"This press release does not constitute a notice of redemption under the certificate"
A notice of redemption is a formal announcement from a bond or preferred-stock issuer that it will repay and retire those securities on a specified date and at a specified price, telling holders which issues will be called and when. It matters to investors because it changes the timing and amount of expected cash flows—like a store buying back a gift card early, you get your money sooner but may lose future income and must find a new place to reinvest.
assets under custody/administration financial
"As of June 30, 2026, Northern Trust had assets under custody/administration of US$20.0 trillion"
assets under management financial
"and assets under management of US$2.0 trillion"
Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Northern Trust (NTRS) announce regarding its Series D preferred stock?
Northern Trust announced it will redeem all 5,000 shares of its Series D Non-Cumulative Perpetual Preferred Stock and the related 500,000 depositary shares on October 1, 2026, ending future dividends on this series after that date.
What are Northern Trust’s (NTRS) assets under custody and management as of June 30, 2026?
As of June 30, 2026, Northern Trust reported assets under custody/administration of US$20.0 trillion and assets under management of US$2.0 trillion, reflecting the scale of its global wealth and asset services franchise.
What happens to Northern Trust (NTRS) Series D dividends after the redemption date?
On and after October 1, 2026, the Series D preferred stock will no longer be deemed outstanding, and no further dividends will be declared or payable on the Series D Preferred Stock following that date.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM | |||||
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 3, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | |||||||||||||||
| (Zip Code) | |||||||||||||||||
| (Address of principal executive offices) | |||||||||||||||||
Registrant’s telephone number, including area code (312 ) 630-6000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events.
On August 3, 2026, Northern Trust Corporation issued a press release announcing the redemption, on October 1, 2026, of all of the issued and outstanding shares of its Series D Non-Cumulative Perpetual Preferred Stock (the “Series D Preferred Stock”), and the corresponding depositary shares, each representing a 1/100th interest in a share of Series D Preferred Stock.
A copy of the press release announcing the redemption is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number | Description | |||||||
99.1 | Press Release of Northern Trust Corporation, dated August 3, 2026 | |||||||
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| NORTHERN TRUST CORPORATION | |||||||||||||||||
| (Registrant) | |||||||||||||||||
| Dated: | August 3, 2026 | By: | /s/ Nicole V. Gersch | ||||||||||||||
| Nicole V. Gersch | |||||||||||||||||
| Senior Vice President, Deputy General Counsel and Corporate Secretary | |||||||||||||||||
Exhibit 99.1
News Release
Media Contact: John O'Connell (312) 444-2388 John.O'Connell@ntrs.com | ||||||||
http://www.northerntrust.com
FOR IMMEDIATE RELEASE
Northern Trust Announces Redemption of Series D Preferred Stock
CHICAGO, August 3, 2026 – Northern Trust Corporation (Nasdaq: NTRS) today announced the redemption on October 1, 2026 (the “Redemption Date”), of all 5,000 outstanding shares of its Series D Non-Cumulative Perpetual Preferred Stock, $100,000 liquidation preference per share (the “Series D Preferred Stock”), and the corresponding redemption of all 500,000 outstanding depositary shares (CUSIP No. 665859 AQ7) (the “Depositary Shares”), each representing a 1/100th interest in a share of Series D Preferred Stock. The Depositary Shares are not listed on a national securities exchange and will be redeemed at a redemption price of $1,000.00 per Depositary Share. Such redemption price does not include the regular quarterly dividend of $23.00 per Depositary Share that was previously declared and will be paid on the Redemption Date in the ordinary course to holders of record as of 5:00 p.m. Chicago time on September 15, 2026.
On and after the Redemption Date, the Series D Preferred Stock will no longer be deemed outstanding, and no further dividends will be declared or payable on the Series D Preferred Stock.
The Depositary Shares are held through The Depository Trust Company (“DTC”) and will be redeemed in accordance with the procedures of DTC. Payment to DTC will be made by Equiniti Trust Company, Northern Trust’s redemption agent for the Depositary Shares. Questions about the notice of redemption and related materials should be directed to EQ Shareowner Services by mail at P.O. Box 64858, St. Paul, MN, 55164-0858, Attention: Corporate Actions; by overnight courier at 1110 Centre Pointe Curve, Suite 101, Mendota Heights, MN, 55120-4101, Attention: Corporate Actions; or by telephone at (800) 468-9716 or, directly at (651) 450-4064.
This press release does not constitute a notice of redemption under the certificate of designation governing the Series D Preferred Stock or the deposit agreement governing the Depositary Shares.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2026, Northern Trust had assets under custody/administration of US$20.0 trillion, and assets under management of US$2.0 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.