Company: FCNCB
Filing Date: 2025-11-18
Form Type: 8-K
Source: 0001193125-25-286155
Chunk: 0

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-18
Form: 8-K
Item: Item 3.03
Chunk 0
---
Item 3.03. Material Modification to Rights of Security Holders.

On November 14, 2025, First Citizens BancShares, Inc., a Delaware corporation (the “ Company”), filed a certificate of designation (the “ Certificate of Designation”) with the Secretary of State of the State of Delaware, establishing the rights, preferences, privileges, qualifications, restrictions and limitations of a new series of its preferred stock designated as the “7.000% Non-Cumulative Perpetual Preferred Stock, Series D”, par value $0.01 per share, with a liquidation preference of $100,000 per share (the “ Series D Preferred Stock”). The Certificate of Designation was filed in connection with an underwriting agreement, dated November 13, 2025 (the “ Underwriting Agreement”), by and among the Company, J. P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC, as representatives of the several underwriters named therein (the “ Underwriters”), pursuant to which the Company agreed to sell to the Underwriters 500,000 depositary shares (the “ Depositary Shares”), each representing a 1/100th ownership interest in a share of the Series D Preferred Stock.

The Series D Preferred Stock ranks, with respect to dividends and upon liquidation, dissolution or winding-upof the Company, (1) on a parity with (A) the Company’s 5.375% Non-CumulativePerpetual Preferred Stock, Series A, par value $0.01 per share, (B) the Company’sFixed-to-FloatingRateNon-CumulativePerpetual Preferred Stock, Series B, par value $0.01 per share, (C) the Company’s 5.625%Non-CumulativePerpetual Preferred Stock, Series C, par value $0.01 per share and (D) any class or series of capital stock of the Company issued now or in the future that, by its terms, expressly provides that such class or series ranks on a parity with the Series D Preferred Stock as to dividends and upon liquidation, dissolution or winding-up of the Company (collectively, the “parity securities”) and (2) senior to the Company’s common stock and any other class or series of preferred stock of the Company issued in the future that, by its terms, does not expressly provide that such class or series ranks on a parity with the Series D Preferred Stock or senior to