---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-199447"
form_type: "8-K"
ticker: "FLG"
cik: "0000910073"
company_name: "FLAGSTAR BANK, NATIONAL ASSOCIATION"
filed_at: "2024-08-13T23:59:59+00:00"
generated_at: "2026-05-31T09:55:35.902758+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# NYCB exchanges 63,357 Series B preferred shares for 21.1M common shares with three investors

## Summary
- Liberty 77 Capital exchanged 29,000 Series B shares for 9,666,665 common shares; Hudson Bay exchanged 22,500 Series B for 7,499,998 common; Reverence exchanged 11,857 Series B for 3,952,332 common.
- Common shares outstanding post-exchange: 372,551,600 (up from 351,432,605 as of Aug 9).
- Exchanges comply with 9.99% beneficial ownership cap; no investor exceeds limit after transaction.
- Reverence holds no Series B after exchange; Liberty retains 114,355 Series B convertible to ~38.1M common; Hudson Bay retains 14,350 Series B convertible to ~4.78M common.
- Series B shares were acquired in March 2024 as part of a $1.05B capital raise; exchanges were contemplated under the original investment agreements.

## SEC filing metadata
- accession: 0001193125-24-199447
- form_type: 8-K
- ticker: FLG
- cik: 0000910073
- company_name: FLAGSTAR BANK, NATIONAL ASSOCIATION
- filed_at: 2024-08-13T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/910073/000119312524199447/0001193125-24-199447-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/910073/000119312524199447/d745147d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-199447
- JSON: https://secwatch.observer/filing/0001193125-24-199447.json
- Plain text: https://secwatch.observer/filing/0001193125-24-199447.txt

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