secwatch.observer — SEC 8-K summary
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Issuer:     CROWN HOLDINGS, INC. (CCK)
CIK:        0001219601
Form:       8-K
Filed at:   2022-11-07T23:59:59+00:00
Accession:  0001193125-22-278631
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crown Holdings adopts shareholder rights plan after Carl Icahn accumulates 8.5% stake
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- Carl Icahn filed Schedule 13D on Nov 3 disclosing ~8.5% beneficial ownership and HSR notice to acquire up to 20% of CCK.
- Board unanimously adopted a limited-duration rights plan with a 10% trigger, effective immediately and expiring Nov 6, 2023.
- Existing holders at or above 10% are grandfathered but trigger rights if they increase ownership by 0.5% or more.
- Each right entitles holder (other than the triggering person) to buy CCK common stock valued at twice the $300 exercise price.
- Rights plan aims to prevent open-market accumulation without paying all shareholders an appropriate control premium.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1219601/000119312522278631/0001193125-22-278631-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1219601/000119312522278631/d400387d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-278631

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