{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-24-046496","form_type":"8-K","ticker":"PSN","cik":"0000275880","company_name":"PARSONS CORP","filed_at":"2024-02-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:26.515077+00:00","generated_at":"2026-06-05T13:24:45.407301+00:00","sec_items":["1.01","2.03","3.02","7.01","8.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Parsons issues $800M 2.625% convertible notes due 2029; board approves $100M stock buyback","bullets":["$800M aggregate principal 2.625% Convertible Senior Notes due 2029; initial conversion price ~$94.11 (25% premium over last sale).","Capped call transactions cost ~$88.4M to offset dilution; cap price $131.7575 (75% premium).","Board authorized $100M stock repurchase and removed $25M quarterly cap; also plans to repurchase some outstanding 0.25% 2025 notes.","Proceeds used for capped call cost, repurchases of existing notes and common shares, and general corporate purposes."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-24-046496","json":"https://secwatch.observer/filing/0001193125-24-046496.json","markdown":"https://secwatch.observer/filing/0001193125-24-046496.md","text":"https://secwatch.observer/filing/0001193125-24-046496.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/275880/000119312524046496/0001193125-24-046496-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/275880/000119312524046496/d799732d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-05T13:24:45.407301+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"9574a830fcbe13ca1964956d39b1297498a72b23","claim":"PARSONS CORP incurred convertible notes of $800.0 million aggregate principal amount with BofA Securities, Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC at 2.625% per year maturing March 1, 2029.","evidence_excerpt":"$100.0 million aggregate principal amount of Notes on the same terms and conditions. The Initial Purchasers exercised their option in full on February 22, 2024 and a total of $800.0 million aggregate principal amount of Notes were issued pursuant to the Purchase Agreement on February 26, 2024. The Purchase Agreement includes customary representations, warranties and","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/275880/000119312524046496/0001193125-24-046496-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$800.0 million aggregate principal amount"},{"label":"Counterparty","value":"BofA Securities, Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC"},{"label":"Rate","value":"2.625% per year"},{"label":"Maturity","value":"March 1, 2029"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"803ed90cef6842b25317ef592a12099bd32a6a4d","claim":"PARSONS CORP entered into Indenture with U.S. Bank Trust Company, National Association (effective 2024-02-26).","evidence_excerpt":"On February 26, 2024, the Company entered into an indenture (the “ Indenture ”) governing the terms of the Notes, by and between the Company and U.S. Bank Trust Company, National Association, as trustee","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/275880/000119312524046496/0001193125-24-046496-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"U.S. Bank Trust Company, National Association"},{"label":"Effective","value":"2024-02-26"}],"fact_type":"material_agreement"},{"claim_id":"d8947168562e10617d6ec080cfe15a3a24b7eebd","claim":"PARSONS CORP entered into Purchase Agreement with BofA Securities, Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC valued at $700.0 million aggregate principal amount of its 2.625% Convertible Senior Notes due 2029 (effective 2024-02-21).","evidence_excerpt":"On February 21, 2024, the Company entered into a purchase agreement (the “ Purchase Agreement ”) with BofA Securities, Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC as representatives of the several initial purchasers named therein (collectively, the “Initial Purchasers”), pursuant to which the Company agreed to issue and sell $700.0 million aggregate principal amount of its 2.625% Convertible Senior Notes due 2029","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/275880/000119312524046496/0001193125-24-046496-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"underwriting"},{"label":"Counterparty","value":"BofA Securities, Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC"},{"label":"Value","value":"$700.0 million aggregate principal amount of its 2.625% Convertible Senior Notes due 2029"},{"label":"Effective","value":"2024-02-21"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}