United Airlines extends poison pill to 2026, lowers exercise price to $200

United Airlines Holdings, Inc.

Amendment extends Tax Benefits Preservation Plan expiration to Dec 4, 2026, subject to stockholder approval at 2024 annual meeting.
Exercise price reduced from $250 to $200 per one-thousandth of a share of Series A Preferred Stock.
Amendment also adds the April 2021 Treasury Warrant Agreement to plan definitions.
Plan designed to preserve tax attributes (NOLs) by limiting ownership changes.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

United Airlines Holdings, Inc. amended Amendment No. 2 to Tax Benefits Preservation Plan with Computershare Trust Company, N.A. (effective 2023-12-04).

Action: amendment
Counterparty: Computershare Trust Company, N.A.
Effective: 2023-12-04

Exact text from the filing

On December 1, 2023, the board of directors of United Airlines Holdings, Inc. (the “Company”) unanimously approved, and on December 4, 2023, the Company entered into, that certain Amendment No. 2 to Tax Benefits Preservation Plan (the “Amendment”), which amends the Tax Benefits Preservation Plan, dated as of December 4, 2020 and as amended as of January 21, 2021 (the “Plan”), by and between the Company and Computershare Trust Company, N.A., as rights agent.

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United Airlines Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-123249

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