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confidence high
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materiality 0.70
NYCB announces 1-for-3 reverse stock split effective July 11, 2024
FLAGSTAR BANK, NATIONAL ASSOCIATION
- Reverse split ratio of 1-for-3, effective at 5:01 p.m. ET on July 11, 2024 after NYSE close.
- Authorized common shares reduced from 2,000,000,000 to 666,666,666.
- No fractional shares issued; shareholders will receive cash in lieu of fractional shares.
- New CUSIP number for common stock post-split: 649445400.
- Proportional adjustments made to equity awards and preferred stock conversion ratios.