TransAlta (NYSE: TAC) updates Series A and B preferred share mix

Rhea-AI Filing Summary

TransAlta Corporation reports final conversion results for its Series A and Series B preferred shares effective March 31, 2026. None of the 9,629,913 outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series A will convert into Series B shares.

In contrast, 1,148,549 of the 2,370,087 outstanding Cumulative Redeemable Floating Rate First Preferred Shares, Series B will convert on a one-for-one basis into Series A shares. After these conversions, 10,778,462 Series A shares and 1,221,538 Series B shares will be issued and outstanding.

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of March 2026

Commission File Number: 001-15214

TransAlta Corporation
(Translation of registrant's name into English)

Suite 1400, 1100 – 1st Street S.E., Calgary, Alberta, T2G 1B1
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [   ]      Form 40-F [ X ]

SIGNATURES

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, thereunto duly authorized.

		TransAlta Corporation
		(Registrant)
Date: March 17, 2026		/s/ Joel Hunter
		Joel Hunter
		Executive Vice President Finance and Chief Financial Officer

EXHIBIT INDEX

Exhibit Number		Description
99.1		TransAlta Corporation Announces Conversion Results for Series A and B Preferred Shares

EXHIBIT 99.1

TransAlta Corporation Announces Conversion Results for Series A and B Preferred Shares

CALGARY, Alberta, March 17, 2026 (GLOBE NEWSWIRE) -- Further to TransAlta Corporation's (TransAlta or the Company) (TSX: TA) (NYSE: TAC) press release dated March 2, 2026, the Company announced today that none of its 9,629,913 currently outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series A (Series A Shares) will be converted on March 31, 2026, on a one-for-one basis, into Cumulative Redeemable Floating Rate First Preferred Shares, Series B (Series B Shares), and (ii) 1,148,549 of its 2,370,087 currently outstanding Series B Shares will be converted on March 31, 2026, on a one-for-one basis, into Series A Shares. As a result, on March 31, 2026, the Company will have 10,778,462 Series A Shares issued and outstanding and 1,221,538 Series B Shares issued and outstanding.

The Series A Shares and Series B Shares are currently listed on the Toronto Stock Exchange under the symbols TA.PR.D and TA.PR.E, respectively.

About TransAlta Corporation:

TransAlta is one of Canada’s largest publicly traded power generators, delivering reliable electricity across Canada, the United States and Western Australia. For more than 100 years, our people have safely operated and evolved essential energy infrastructure that powers customers and communities. Our technology-diverse portfolio and disciplined execution allow us to deliver dependable power across evolving energy systems. We take a practical, responsible approach to meeting today’s energy needs while building for what comes next.

For more information about TransAlta, visit our web site at transalta.com.

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as “may”, “will”, “should”, “estimate”, “intend” or other similar words). Specifically, this news release contains forward-looking information with respect to the Company and the conversion of the Series A Shares and the Series B Shares. All forward-looking information reflects the Company’s beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release. TransAlta undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from those in the forward-looking information, refer to the Company’s most recent Annual Report and Management’s Discussion and Analysis and the Prospectus Supplement dated Dec. 3, 2010, in each case filed under the Company’s profile on SEDAR at www.sedarplus.com.

For more information:

Investor Inquiries:	Media Inquiries:
Phone: 1-800-387-3598 in Canada and US	Phone: 1-855-255-9184
Email: investor_relations@transalta.com	Email: ta_media_relations@transalta.com

FAQ

What did TransAlta (TAC) announce about its Series A preferred shares?

TransAlta announced that none of its 9,629,913 outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series A will convert into Series B shares on March 31, 2026. This leaves all existing Series A holders in the same series after the conversion date.

How many TransAlta (TAC) Series B preferred shares will be converted?

TransAlta stated that 1,148,549 of its 2,370,087 outstanding Cumulative Redeemable Floating Rate First Preferred Shares, Series B will convert into Series A shares on a one-for-one basis on March 31, 2026, changing the mix between its two preferred share series.

What will be the new number of TransAlta (TAC) Series A shares outstanding?

Following the conversions on March 31, 2026, TransAlta will have 10,778,462 Cumulative Redeemable Rate Reset First Preferred Shares, Series A issued and outstanding. This reflects the additional Series A shares created from converting a portion of the Series B preferred shares.

How many TransAlta (TAC) Series B preferred shares will remain outstanding?

After 1,148,549 Series B shares convert into Series A, TransAlta will have 1,221,538 Cumulative Redeemable Floating Rate First Preferred Shares, Series B outstanding as of March 31, 2026. This represents the remaining Series B shares that were not converted.

On which exchange are TransAlta (TAC) preferred shares listed and under what symbols?

TransAlta’s Series A and Series B preferred shares trade on the Toronto Stock Exchange. The Series A Shares are listed under the symbol TA.PR.D, while the Series B Shares are listed under the symbol TA.PR.E for public trading.

What type of securities are TransAlta (TAC) Series A and B preferred shares?

The Series A shares are Cumulative Redeemable Rate Reset First Preferred Shares, and the Series B shares are Cumulative Redeemable Floating Rate First Preferred Shares. Both are preferred equity classes that differ mainly in how their dividend rates are structured over time.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 PRESS RELEASE 4.9 KB