---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-148287"
form_type: "8-K"
ticker: "MNRO"
cik: "0000876427"
company_name: "MONRO, INC."
filed_at: "2023-05-18T23:59:59+00:00"
generated_at: "2026-06-14T21:55:08.641337+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Monro agrees to eliminate Class C Preferred Stock; board declassification plan

## Summary
- Conversion rate adjusted to 61.275 common shares per preferred share (from 23.389), eliminating Class C stock over ~3-year sunset.
- Represents ~$36.6M premium based on May 12 close; sunset period starts after Aug 15, 2023 annual meeting.
- Recapitalization and board declassification (to single-class, one-year terms) subject to shareholder approval at Aug 15, 2023 meeting.
- Special Committee of independent directors negotiated; Kroll fairness opinion obtained.

## SEC filing metadata
- accession: 0001193125-23-148287
- form_type: 8-K
- ticker: MNRO
- cik: 0000876427
- company_name: MONRO, INC.
- filed_at: 2023-05-18T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/876427/000119312523148287/0001193125-23-148287-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/876427/000119312523148287/d503576d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-148287
- JSON: https://secwatch.observer/filing/0001193125-23-148287.json
- Plain text: https://secwatch.observer/filing/0001193125-23-148287.txt

## Key facts
- Material Agreements
  MONRO, INC. entered into reclassification agreement with holders of its Class C Preferred Stock (effective 2023-05-12).
  - Action: entry
  - Counterparty: holders of its Class C Preferred Stock
  - Effective: 2023-05-12
  source text: on May 12, 2023, the Company entered into a reclassification agreement (the “Agreement”) with the holders of its Class C Preferred Stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/876427/000119312523148287/0001193125-23-148287-index.htm

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