---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-21-364315"
form_type: "8-K"
ticker: "AAL"
cik: "0000006201"
company_name: "American Airlines Group Inc."
filed_at: "2021-12-22T23:59:59+00:00"
generated_at: "2026-06-27T23:05:58.083832+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-21-364315
- form_type: 8-K
- ticker: AAL
- cik: 0000006201
- company_name: American Airlines Group Inc.
- filed_at: 2021-12-22T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 3.03, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/6201/000119312521364315/0001193125-21-364315-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/6201/000119312521364315/d244625d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-21-364315
- JSON: https://secwatch.observer/filing/0001193125-21-364315.json
- Plain text: https://secwatch.observer/filing/0001193125-21-364315.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.