---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-270893"
form_type: "8-K"
ticker: "SWX"
cik: "0001692115"
company_name: "Southwest Gas Holdings, Inc."
filed_at: "2023-11-06T23:59:59+00:00"
generated_at: "2026-06-08T21:10:03.341440+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Southwest Gas adopts tax-free spin protection plan for Centuri; IRS declines to rule on tax questions

## Summary
- Board declared dividend of one preferred stock purchase right per common share, payable Nov 17, 2023.
- Rights trigger if a person acquires 4.9% (9.9% passive, 24.9% Icahn) without Board approval.
- IRS declined to rule on tax-free spin-off; Company exploring taxable alternatives using $932.8M NOL.
- Plan expires after 2024 annual meeting unless ratified; else 2 years after spin consummation.

## SEC filing metadata
- accession: 0001193125-23-270893
- form_type: 8-K
- ticker: SWX
- cik: 0001692115
- company_name: Southwest Gas Holdings, Inc.
- filed_at: 2023-11-06T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.03, 5.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1692115/000119312523270893/0001193125-23-270893-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1692115/000119312523270893/d927165d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-270893
- JSON: https://secwatch.observer/filing/0001193125-23-270893.json
- Plain text: https://secwatch.observer/filing/0001193125-23-270893.txt

## Key facts
- Material Agreements
  Southwest Gas Holdings, Inc. entered into Tax-Free Spin Protection Plan with Equiniti Trust Company, LLC (effective 2023-11-05).
  - Action: entry
  - Counterparty: Equiniti Trust Company, LLC
  - Effective: 2023-11-05
  source text: a Tax-Free Spin Protection Plan, dated as of November 5, 2023 (as the same may be amended from time to time, the “Plan”), between the Company and Equiniti Trust Company, LLC, as rights agent
  evidence_url: https://www.sec.gov/Archives/edgar/data/1692115/000119312523270893/0001193125-23-270893-index.htm

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