Company: MTB-PJ
Filing Date: 2025-10-31
Form Type: 8-K
Source: 0001193125-25-260717
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Company: M&T BANK CORP
Filing Date: 2025-10-31
Form: 8-K
Item: Item 3.03
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ITEM 3.03.      MATERIAL MODIFICATION TO RIGHTS OF SECURITY HOLDERS.  

On October 29, 2025, M& T Bank Corporation (“ M& T”) filed a certificate of amendment (the “ Certificate of Amendment”) with the New York State Department of State establishing the rights, preferences, privileges, qualifications, restrictions and limitations of a new series of its preferred stock designated as the Perpetual 6.350% Non-CumulativePreferred Stock, Series K, par value $1.00 per share, liquidation preference $10,000 per share (the “ Series K Preferred Stock”). The Certificate of Amendment was filed in connection with an Underwriting Agreement, dated October 28, 2025 (the “ Underwriting Agreement”), with RBC Capital Markets, LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC, UBS Securities LLC, and Wells Fargo Securities, LLC as representatives of the several underwriters named in Schedule A thereto (the “ Underwriters”), under which M& T agreed to sell to the Underwriters 18,000,000 depositary shares (the “ Depositary Shares”) each representing a 1/400th interest in a share of the Series K Preferred Stock.

The Series K Preferred Stock ranks senior to the common stock of M& T, equally with M& T’s outstanding Series F, G, H, I and J preferred stock, and at least equally with each other series of preferred stock M& T may issue (except for any senior capital stock that may be issued with the requisite consent of the holders of the Series K Preferred Stock and all parity stock), with respect to payments of dividends and distributions of assets upon liquidation, dissolution or winding up.

Under the terms of the Series K Preferred Stock, the ability of M& T to pay dividends on, make distributions with respect to, or to redeem, purchase or acquire, or make a liquidation payment on its common stock or any preferred stock ranking on a parity with or junior to the Series K Preferred Stock, is subject to restrictions in the event that M& T does not declare dividends on the Series K Preferred Stock for the most recently completed dividend period, or, in the case of a liquidation payment, does not pay to holders of the Series K Preferred Stock the stated amount of $10,000 per share, plus any declared and unpaid dividends, without accumulation of any undeclared dividends.

The terms of the Series K Preferred Stock are more fully described in the Certificate of Amendment, a copy