secwatch.observer — SEC 8-K summary
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Issuer:     SECURITY FEDERAL CORP (SFDL)
CIK:        0000818677
Form:       8-K
Filed at:   2025-01-14T23:59:59+00:00
Accession:  0001437749-25-001102
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Security Federal gets option to buy back Treasury-held ECIP preferred stock at discount
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- Option to repurchase all 82,949 ECIP preferred shares during first 15 years from May 24, 2022 original closing.
- Purchase price based on present value formula; company expects substantial discount from face value.
- Exercise during first 10 years requires meeting one of three lending thresholds; company currently meets none.
- Earliest possible threshold satisfaction June 30, 2026; current dividend rate 2.0%.
- Company may designate a Mission Aligned Nonprofit Affiliate as purchaser under the option.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/818677/000143774925001102/0001437749-25-001102-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/818677/000143774925001102/sfdl20250113_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-001102

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer