Wesco International Completes Preferred Stock Redemption as CFO Holds Strong Common Position
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Wesco International (WCC) EVP & CFO David S. Schulz reported significant changes in his securities holdings on June 22, 2025. The key transaction involved the redemption of all outstanding 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock by the company.
Transaction details:
- Schulz's 1,771 shares of Series A Preferred Stock were redeemed at $25 per depositary share plus accrued dividends
- Following the transaction, Schulz maintains direct ownership of 110,360.4886 shares of Common Stock
- The redemption price was set at $25,000 per Preferred Stock share, equivalent to $25 per depositary share
This mandatory redemption of preferred shares indicates a significant capital structure change for Wesco International, potentially impacting the company's dividend obligations and capital allocation strategy.
Positive
- The company redeemed all outstanding Series A Preferred Stock at $25,000 per share, indicating strong financial position and ability to reduce preferred dividend obligations
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Schulz David S.
Role
EVP & CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Series A Preferred Stock | 1,771 | $25.00 | $44K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Series A Preferred Stock — 0 shares (Direct);
Common Stock — 110,360.489 shares (Direct)
Footnotes (1)
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FAQ
What insider transaction did WCC's CFO David Schulz report on June 22, 2025?
According to the Form 4 filing, EVP & CFO David Schulz reported the redemption of 1,771 shares of Series A Preferred Stock by Wesco International (WCC) at $25 per depositary share (plus accrued and unpaid dividends) on June 22, 2025.
What was the redemption price for WCC's Series A Preferred Stock?
WCC redeemed its Series A Preferred Stock at $25,000 per share (equivalent to $25 per depositary share, with each depositary share representing 1/1,000th of one share), plus accrued and unpaid dividends.
What position does David Schulz hold at Wesco International (WCC)?
David Schulz serves as Executive Vice President (EVP) & Chief Financial Officer (CFO) of Wesco International Inc.
What type of Series A Preferred Stock did WCC redeem?
WCC redeemed its 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock, par value $1.01 per share, and the corresponding depositary shares.