Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 213

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 213
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(814,641)— — — Restricted stock units vested, net of shares held to cover taxes12,144 — 13,916 — Common stock - end of period12,712,436 1,005,185 13,514,933 1,005,185 Common StockThe Parent Company has Class A common stock and Class B Common stock, each with a par value of $1. Class A common stockholders have one vote per share while Class B common stockholders have 16 votes per share. Restricted Stock UnitsRefer to Note 21—Employee Benefit Plans for discussion of the RSUs.Non-Cumulative Perpetual Preferred Stock BancShares has Series A, Series B, and Series C preferred stock.On March 12, 2020, BancShares issued and sold an aggregate of 13,800,000 depositary shares, each representing a 1/40th interest in a share of 5.375% non-cumulative perpetual preferred stock, series A preferred stock (equivalent to $1,000 per share of the Series A preferred stock) for a total of $345 million. CIT Series A and CIT Series B preferred stock automatically converted into the right to receive one share of BancShares’ Series B preferred stock and BancShares Series C preferred stock, respectively. The following table summarizes BancShares’ non-cumulative perpetual preferred stock: Preferred Stockdollars in millions, except per share and par value dataPreferred StockIssuance DateEarliest Redemption DatePar ValueShares Authorized, Issued and OutstandingLiquidation Preference Per ShareTotal Liquidation PreferenceDividendSeries AMarch 12, 2020March 15, 2025$0.01 345,000$1,000 $345 5.375%Series B(1)January 3, 2022January 4, 20270.01 325,0001,000 325SOFR + 3.972%Series CJanuary 3, 2022January 4, 20270.01 8,000,00025 2005.625%(1) Upon conversion to SOFR in 2023, BancShares began paying a credit spread adjustment in addition to the stated dividend.Dividends on BancShares Series A, B, and C preferred stock (together, “BancShares Preferred Stock”) will be paid when, as, and if declared by the Board of Directors of the Parent Company, or a duly authorized