Company: NLY-PF
Filing Date: 2025-08-07
Form Type: 8-K
Source: 0001193125-25-175436
Chunk: 1

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-08-07
Form: 8-K
Item: Item 3.03
Chunk 1
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whether or not authorized or declared) to, but excluding, the redemption date. In addition, upon the occurrence of a Change of Control, the Company may, at its option, redeem some or all of the shares of Series J Preferred Stock, in whole or in part, within 120 days after the first date on which such Change of Control occurred at $25.00 per share plus any accumulated and unpaid dividends thereon (whether or not declared) to, but excluding, the redemption date. The Series J Preferred Stock has no stated maturity, is not subject to any sinking fund or mandatory redemption and will remain outstanding indefinitely unless repurchased or redeemed by the Company or converted into Common Stock in connection with a Change of Control by the holders of Series J Preferred Stock.

Upon the occurrence of a Change of Control, each holder of Series J Preferred Stock will have the right (subject to the Company’s election to redeem the Series J Preferred Stock in whole or in part, as described above, prior to the Change of Control Conversion Date (as defined in the Series J Articles Supplementary)) to convert some or all of the Series J Preferred Stock held by such holder on the Change of Control Conversion Date into a number of shares of the Common Stock per share of Series J Preferred Stock determined by formula, in each case, on the terms and subject to the conditions described in the Series J Articles Supplementary, including provisions for the receipt, under specified circumstances, of alternative consideration.

There are restrictions on ownership of the Series J Preferred Stock intended to preserve the Company’s qualification as a REIT. Holders of Series J Preferred Stock generally have no voting rights, but have limited voting rights if the Company fails to pay dividends for six or more full quarterly dividend periods (whether or not consecutive) and under certain other circumstances.

A copy of the Series J Articles Supplementary and Form of Series J Preferred Stock Certificate are filed as Exhibits 3.1 and 4.1, respectively, to this Current Report on Form8-Kand incorporated herein by reference. The description of the terms of the Series J Articles Supplementary in this Item 3.03 is qualified in its entirety by reference to Exhibit 3.1.