American Airlines adopts NOL poison pill to protect $16.5B in tax benefits

American Airlines Group Inc.

Board declared dividend of one preferred stock purchase right per share, record date Jan 5, 2022.
Rights trigger if a person or group acquires 4.9% or more of common stock without board approval.
Upon trigger, other rights holders can buy common stock at a 50% discount; triggering holder's rights void.
Rights expire Dec 20, 2022, extended to Dec 20, 2024 if stockholders approve the plan.
Existing holders owning >4.9% as of Dec 21, 2021 are grandfathered at current ownership level.

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