{"schema_version":"secwatch.filing_event.v1","accession":"0001805833-26-000044","form_type":"8-K","ticker":"SST","cik":"0001805833","company_name":"System1, Inc.","filed_at":"2026-07-24T13:07:17+00:00","discovered_at":"2026-07-24T13:07:44.785550+00:00","generated_at":"2026-07-24T13:07:50.798818+00:00","sec_items":["3.03","5.03","5.02","5.07","8.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"System1 closes debt exchange, issues Series A Preferred Stock to lenders","bullets":["On July 23, 2026, System1 consummated a debt exchange and settlement transaction, issuing 39,250 Series A Cumulative Convertible Preferred Shares to participating lenders.","Each Preferred Share has an initial stated value of $1,022.05, reflecting $1,000 per share plus accrued dividends from April 1, 2026.","Stockholders approved the Share Issuance Proposal at the July 22 annual meeting with 6,714,340 votes for and 21,108 against.","Robert Sharp was elected to the board by holders of a majority of Preferred Shares, effective July 23, 2026.","Three Class I directors (Michael Blend, Caroline Horn, Taryn Naidu) were elected at the annual meeting; Deloitte ratified as auditor."],"urls":{"canonical":"https://secwatch.observer/filing/0001805833-26-000044","json":"https://secwatch.observer/filing/0001805833-26-000044.json","markdown":"https://secwatch.observer/filing/0001805833-26-000044.md","text":"https://secwatch.observer/filing/0001805833-26-000044.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1805833/000180583326000044/0001805833-26-000044-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1805833/000180583326000044/sst-20260722.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-07-24T13:07:50.798818+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":"f93de1a58e","claim":"Robert Sharp was elected as director at System1, Inc..","evidence_excerpt":"the holders of a majority of the outstanding Preferred Shares, acting by written consent pursuant to the Certificate of Designation, elected Robert Sharp to serve as a director of the Company, effective as of such date.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1805833/000180583326000044/0001805833-26-000044-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"elected"},{"label":"Role","value":"director"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}